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Despite Asset Sale Plans, BHP To Double Onshore Spending, Rigs and Wells for 2018
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Amid planned asset sales, BHP has announced it plans to double rig count / onshore US spending in the 2018 financial year.
U.S. onshore spending will be increased 117% and the rig count by 100%.
The rig count in the Permian and Eagle Ford will jump by +200%.
BHP's total 2018 Petroleum Capex includes conventional capital expenditure of US$0.8 billion which is focused on high-return infill drilling opportunities in the GOM.
In July 2017, one rig commenced operations in the Hawkville and one additional rig is expected to commence in the Haynesville in the September 2017 quarter. Evaluation of trials in the Black Hawk are expected to be completed in the September 2017 quarter and, subject to approval, one additional rig will commence toward the end of that quarter. In the…
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