Onshore US A high-quality portfolio optimised for value Tim Cutt President Petroleum and Potash October 2014
Key themes We have a clear strategy focused on value over volume Our Petroleum portfolio is underpinned by large, high-quality, upstream assets High-return brownfield investments will maintain stable Conventional volumes Liquids…
High-return brownfield Conventional investments will offset natural field decline Australia and the Gulf of Mexico are our core Stable conventional volumes regions with valuable infrastructure in place (MMboe) 150 Capital expenditure…
Our focused exploration program Tier-1 exploration criteria World-class source rock North America Shale Big reservoir system Extending our liquids runway Large traps Acceptable fiscal terms Gulf of Mexico US: Progress plays with…
Tier-1 oil potential in Trinidad and Tobago BHP Billiton Blocks We have an established operational Seismic survey presence in Trinidad and Tobago with our Bathymetry map shallow water Angostura asset Oil / gas production 28 29 The…
Leveraging our Gulf of Mexico expertise Recently executed Memorandum of Understanding with Pemex1 to exchange USA Haynesville technical knowledge and expertise The Gulf of Mexico (GoM) basin is the third highest oil producing basin…
We have proven project development capability Macedon Liverpool Liverpool Bay Bay Zamzama Angostura Neptune Pyrenees Neptune 1996 2003 2005 2008 2010 2013 1994 2003 2007 2009 Ohanet Griffin Stybarrow Shenzi BHP…
Development options competing for capital Mad Dog Phase 2 North One of the largest discovered, undeveloped oil reservoirs in the Gulf of Mexico Mad Dog West A Spar Partnership is aligned on a semi-submersible Phase 2 FPU East…
Onshore US is primed to generate strong growth in free cash flow We have a premier acreage position over Focused on developing our liquids-rich areas multiple shale plays (gross operated rigs) 45 Strong financial performance will be…
Driving improved capital efficiency 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…
We are the top performer in Black Hawk recovered reserves Black Hawk producing wells2 Using low-cost initiatives to maximise recoveries and unlock substantial value Gonzales restricted flows optimal stage spacing Wilson efficient…
Building momentum in the Black Hawk We are a top producer in the Eagle Ford with Black Hawk production rates2 investment prioritised on liquids-rich acreage (gross, kboe/d) 75% of our Onshore US drilling and 200 development…
Extending our liquids runway in the Permian We are leading the appraisal of the Upper Wolfcamp well performance3 Wolfcamp with more than 75 wells drilled (gross production, boe/d) 2,500 2,500 to date 2,000 2,000 extensive…
Generating strong returns at current prices in the Haynesville We have the premier acreage position in one Potential for higher EUR from optimised completions of the most productive US shale gas plays (gross production, MMcf/d) 10…
Simplifying the portfolio for value We manage the portfolio for value BHP Billiton petroleum resource (billion boe) extending our liquids runway in our Shale 12 business through acreage optimisation targeted exploration program…
Key themes We have a clear strategy focused on value over volume Our Petroleum portfolio is underpinned by large, high-quality, upstream assets High-return brownfield investments will maintain stable Conventional volumes Liquids…