Top Story | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Capital Markets | Capital Expenditure | Capex Decrease | Capital Expenditure - 2018
BHP Reduces 2018 Capex to $1.9B, Shuffles Rigs; Talks 2017 Production Results
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[Summary: BHP has reported its year-end 2017 operational report as well as its 2018 capital plans.
2018 Plans- 2018 Capex: US$1.9 billion (a reduction from our previous guidance of US$2.0 billion)
Onshore US capital expenditure is expected to be lower at US$1.1 billion, reflecting development activity tailored to support value in the exit process and meet Hold by Production obligations. Conventional capital expenditure of US$0.8 billion remains unchanged, focused on high- return infill drilling opportunities in the Gulf of Mexico, a life extension project at North West Shelf and investment in the Mad Dog Phase 2 project. Onshore US development activityOnshore US drilling and development expenditure for the December 2017 half year was US$336 million (US$511 million on an activity…
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