Onshore US Primed to deliver significant growth in free cash flow Tim Cutt President, Petroleum and Potash 2 September 2014
Key themes Our Petroleum portfolio is underpinned by large, high-quality, upstream assets We have a clear strategy focused on value over volume Our high-return brownfield investments will maintain stable Conventional volumes…
Delivering on our commitments BHP Billiton delivered strong operating and Productivity-led volume and cost efficiencies financial performance in FY14 (US billion) 4.0 No fatalities and a record low TRIF1 of 4.2 per Target exceeded by…
A simpler and more productive organisation BHP Billiton core portfolio1 Under review Operated Non-operated Minerals Western Australia Olympic Dam Escondida Pampa Norte Samarco Antamina Nickel West Iron Ore Queensland Coal2…
Delivering stronger growth and margins The core portfolio generated stronger A higher margin business performance compared with the broader (Underlying EBIT margin, %) portfolio over the last 10 years 75 Core portfolio production…
Focusing on value over volume in our Petroleum business Prioritising the highest return investment Greenfield project IRR opportunities in our Petroleum business (IRR, %) 30 investment in our shale liquids acreage BHP Billiton…
High-return brownfield investments will maintain stable Conventional volumes Australia and the Gulf of Mexico are our core Stable Conventional volumes producing regions with valuable infrastructure (MMboe) in place 200 150 Capital…
Tier-1 oil potential in Trinidad and Tobago We have an established operational presence in BHP Billiton blocks Trinidad and Tobago with our shallow water Leads Angostura asset 28 29 The deepwater is largely untested and has Tier-1…
Onshore US is primed to generate strong growth in free cash flow We have a premier acreage position over multiple shale plays A capital expenditure program of approximately US4 billion per annum will support strong growth in…
Building momentum in the Black Hawk We are a top producer in the Eagle Ford with Black Hawk production rates1 investment prioritised on liquids-rich acreage (gross, kboe/d) 200 75% of our Onshore US drilling and development…
Extending our liquids runway in the Permian We are leading the appraisal of the Wolfcamp with more than 70 wells drilled to date extensive vertical and lateral appraisal of the resource We increased our acreage position within our…
Driving improved performance through productivity Repetitive, manufacturing nature of shale is Black Hawk drilling time per well1 ideally suited to our productivity agenda (days) 21% Application of technology will ensure we achieve…
We are the top performer in Black Hawk recovered reserves Black Hawk benchmarking data1 Using low-cost initiatives to maximise recoveries and unlock substantial value restricted flows optimal stage spacing efficient proppant…
Strong growth in high-margin liquids production Total petroleum production increased by 4% FY15 production outlook in FY14 to 246 MMboe (MMboe) 260 strong performance from Onshore US with 73% increase in liquids volumes 240 near…
Key themes Our Petroleum portfolio is underpinned by large, high-quality, upstream assets We have a clear strategy focused on value over volume Our high-return brownfield investments will maintain stable Conventional volumes…
Appendix
Glossary of selected terms Reserves Those quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions. Reserves must…
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