BHP's Gas Output Drops in Q1
Anglo-Australian multinational BHP's natural gas production during the three months to September 30 (Q1) dropped 9% yr/yr to 91bn ft3 (2.58bn m3), the company said on October 20 in a statement.
BHP said gas output dropped “reflecting a decrease in tax barrels at Trinidad and Tobago in accordance with the terms of our production sharing contract, end-of-field life at Minerva in the September 2019 quarter, lower domestic gas sales at Bass Strait and North West Shelf and natural field decline across the portfolio.”
The company's combined crude oil, condensate, and natural gas liquids production declined by 8% to 12mn barrels of oil equivalent (130,400 boe/day). The full-year production guidance is 95-102mn boe (260,000-279,000 boe/d).
The Bass Strait West Barracouta project in Australia is on schedule and budget, BHP said, and is still expected to achieve the first production in the 2021 calendar year.