BHP Billiton Backs Fiscal Year 2018 Production, Unit-Cost Guidance
October 18 2017 - 2:58AM
Dow Jones News
By Dimitrios Kontos
Mining, metals and petroleum company BHP Billiton PLC (BLT.LN)
said Wednesday that its production and unit-cost guidance for
fiscal 2018 remains unchanged.
The Anglo-Australian company said that all of its major projects
under development are on schedule, and that first-quarter
performance puts it on track to deliver 7% volume growth in fiscal
2018.
Total petroleum production for the quarter ended Sep. 30
decreased 8% compared with a year earlier, to 50 million barrels of
oil equivalent. Guidance for the fiscal year remains unchanged at
between 180 million and 190 million barrels of oil equivalent.
Comparable crude oil, condensate and natural gas liquids
production for the quarter fell 9%, to 22 million barrels of oil
equivalent.
Production of conventional liquids was 15 million barrels of oil
equivalent, reflecting natural field decline, the impact of
Hurricane Harvey in the Gulf of Mexico and planned maintenance, the
company said.
Meanwhile conventional gas volumes for the period were broadly
unchanged from a year earlier, at 107 billions of cubic feet.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
October 18, 2017 02:43 ET (06:43 GMT)
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