BHP: Exit Process for Onshore US Assets Progressing to Plan
BHP revealed Wednesday that the exit process for its onshore US assets is “progressing to plan”.
In its operational review for the year ended June 30, the company said that bids “have been received” and that it aims “to announce one or more transactions within the coming months, targeting completion of any transactions by the end of the 2018 calendar year”.
BHP’s onshore US drilling and development expenditure for the 2018 financial year was $0.9 billion. The company’s onshore US operated rig count declined from seven to five during the June 2018 quarter.
Onshore US production for BHP totalled 72 million barrels of oil equivalent for the 2018 financial year. This marked a 10 percent drop compared to the same period last year. Onshore US production for the June 2018 quarter totalled 20 million barrels of oil equivalent.
BHP describes itself as a world-leading resources company. The business extracts and processes minerals, oil, and gas and employs more than 60,000 workers, according to its website.
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