Exploration & Production | Rig Count | Drilling Contractor

BHP Billiton to Cut Onshore US Rig Count by 40%

Email |

Print |

| Wednesday,January 21,2015

BHP Billiton has announced that it plans to cut the number of rigs targeting US shale oil by approximately 40%, according to multiple reports.

Source : BHP Presentation May 2014 / PetroleumResearch.org

The company will cut its rig count from 26 to 16 by mid-year 2015. BHP cited weak oil prices as the reason for the decrease. However, the company noted that increased drilling efficiencies will cushion the blow from the rig cut.

Currently, the company's pressure pumper is Schlumberger Ltd.

BHP Billiton Chief Executive Andrew Mackenzie commented: "The revised drilling program will benefit from significant improvements in drilling and completions efficiency."

Currently, the company holds assets in the Fayetteville, Haynesville, Bossier, Eagle Ford and Permian plays. The company has noted that it will continue limited HBP drilling in the Permian.

The company has yet to release its capital budget for 2015. In 2014, BHP spent $4.0 billion on development.

To learn more about BHP's development, see below:

Related Categories :

Rig Count

Hello Visitor

Trial Account Expired

Interested in the Bhp - Billiton - To - Cut - Onshore - Us - Rig - Count - By - 40_999989184? Sign Up for Shale Experts Today!

Included in the Bhp - Billiton - To - Cut - Onshore - Us - Rig - Count - By - 40_999989184 Page:

(Features listed below)

Hello Visitor

Hello Visitor

Looking for information on BHP Billiton To Cut Onshore US Rig Count By 40_999989184 in the

Get Immediate access to:

and more .....

Subscribe To

North American plays ($1,499/year)

Hello Visitor

Already a Subscriber?
Login Here

What is included :

Request a Trial Here >>
or call 713-876-7700

Subscribe Now >>
for Immediate Access

Exploration & Production | Rig Count | Drilling Contractor

BHP Billiton to Cut Onshore US Rig Count by 40%

Related Categories :

More Rig Count News

SM Energy Hits Record Output; Driven by Uinta

EQT Provides an Update on Rigs & Frac Crews, Post Recent Transaction -

These Permian Companies Will Frac 3600 Wells In 2025, Using 160 Rigs & 55 Frac Crews -

Appalachia E&P Details 2025, Rig, Wells & Completion Crew Programs -

Patterson-UTI Expects +50 Rigs To be Added in 2023; PE-backed E&P To Lead.

Gulf Coast - South Texas News >>>

Crescent Energy Said to be in Advance Talks to Acquire Pure Play Permian, Vital Energy -

SM Energy Hits Record Output; Driven by Uinta

The Permian Play: How ExxonMobil Is Rewriting the Shale Narrative -

Large Cap E&P To Reduce Drilling & Completion Activity in 2026 -

$2.4B Deal Gives MPLX Sour Gas Edge in Permian -

Permian News >>>

Liberty Energy: Navigating the Frac Downturn with Efficiency, Innovation, and Strategic Focus -

Baker Hughes Solid Y/Y Performance Amidst US Frac Market Slowdown -

Halliburton Warns of Deepening U.S. Frac Slowdown -

Oilfield Service Report : 13 New Leads/Company Formation & Contacts YTD

PE Firm Seeds Four New E&P Startups in Strategic Push In 2025 -