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BIL 201509090030A
Barclays Energy-Power Conference Presentation
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
Issued by: BHP Billiton Plc
Date: 9 September 2015
To: London Stock Exchange
JSE Limited
For Release: Immediately
Contact: Helen Ratsey +44 (0) 20 7802 7540
BHP Billiton Plc – Barclays CEO Energy - Power Conference Presentation
UK Listing Authority Submissions
The following document has today been submitted to the National Storage Mechanism
and will shortly be available for inspection at www.hemscott.com/nsm.do:
• Barclays CEO Energy - Power Conference Presentation
The document may also be accessed via BHP Billiton’s website - www.bhpbilliton.com
BHP Billiton Plc Registration number 3196209
Registered in England and Wales
Registered Office: Neathouse Place London SW1V 1LH United Kingdom
A member of the BHP Billiton Group which is headquartered in Australia
Sponsor: Merrill Lynch South Africa Proprietary Limited
NEWS RELEASE
Release Time IMMEDIATE
Date 9 September 2015
Number 18/15
BHP BILLITON PETROLEUM OPERATIONAL EXCELLENCE UNDERPINS
VALUE AND RETURNS
BHP Billiton President Petroleum Tim Cutt will today explain how the Company
expects to create significant value from its Petroleum resources at the Barclays CEO
Energy-Power Conference in New York.
Speaking ahead of the conference, he said: “The diversification of BHP Billiton’s
portfolio and the strength of our balance sheet allow us to focus on value over volume.
We have responded decisively to the change in market conditions and retain
significant flexibility across our Petroleum development programs. We can wait until
the time is right before investing.
“We are well positioned on the cost curve and our productivity programs are making
us even more competitive. BHP Billiton Petroleum is a leader in safety. We have best-
in-class operating costs and deepwater drilling capabilities in our Conventional
business. And we continue to reduce our Onshore US drilling costs and build on our
industry leading well completion efficiency.
“We are the top performer in the Black Hawk, where we generate returns of 35 per
cent at current prices with a further three to five years of development ahead of us. In
the Conventional business, our operational experience and capability provide a
competitive advantage. In the last financial year we reported unit costs of
US$10.92/boe, an EBITDA margin of 70 per cent and average operational uptime of
95 per cent.
“Our portfolio includes several attractive growth options that will add significant value
for our shareholders over the long-term. We expect natural field decline and demand
growth will support higher oil and gas prices in the medium term but remain focused
on improving the competitiveness of these developments in today’s market conditions.
“Applying what we have learned in the Black Hawk to the Permian will reduce the
development costs of a field we believe could produce well over 150kboe per day.
And we will time development to benefit from the expected improvement in margin.
“Our Onshore US dry-gas resource of 25 TCF could support half a century of
production at twice our current production rate. Our Haynesville acreage is in the core
of one of the industry’s premier dry-gas positions and we are working to achieve at
least 20 per cent returns at US$3/mcf Henry Hub.
“In our conventional business, we continue to improve the capital efficiency of the Mad
Dog II project which provides a significant medium term growth opportunity. We will
invest in oil exploration through the cycle and expect to test three major opportunities
in our core basins of Gulf of Mexico, Trinidad & Tobago and Western Australia over
the next three years.”
In conclusion, Mr Cutt said “We remain focused on value and returns above all else.
Our projects must compete with other opportunities within BHP Billiton’s portfolio. We
will keep our plans under review and tailor our investment program to market
conditions to maximise value for shareholders.”
Further information on BHP Billiton can be found at: www.bhpbilliton.com.
Media Relations Investor Relations
Australia Australia
Emily Perry Tara Dines
Tel: +61 3 9609 2800 Mobile: +61 477 325 803 Tel: +61 3 9609 2222 Mobile: +61 499 249 005
email: Emily.Perry@bhpbilliton.com email: Tara.Dines@bhpbilliton.com
Paul Hitchins Andrew Gunn
Tel: + 61 3 9609 2592 Mobile: + 61 419 315 001 Tel: +61 3 9609 3575 Mobile: +61 402 087 354
email: Paul.Hitchins@bhpbilliton.com email: Andrew.Gunn@bhpbilliton.com
Eleanor Nichols United Kingdom and South Africa
Tel: +61 3 9609 2360 Mobile: +61 407 064 748
email: Eleanor.Nichols@bhpbilliton.com Jonathan Price
Tel: +44 20 7802 4131 Mobile: +44 7990 527 726
United Kingdom and Americas email: Jonathan.H.Price@bhpbilliton.com
Ruban Yogarajah Dean Simon
Tel: +44 20 7802 4033 Mobile: +44 7827 082 022 Tel: +44 20 7802 7461 Mobile: +44 7717 511 193
email: Ruban.Yogarajah@bhpbilliton.com email: Dean.Simon@bhpbilliton.com
Jennifer White Americas
Tel: +44 20 7802 7462 Mobile: +44 7827 253 764
email: Jennifer.White@bhpbilliton.com James Agar
Tel: +1 212 310 1421 Mobile: +1 347 882 3011
email: James.Agar@bhpbilliton.com
Joseph Suarez
Tel: +1 212 310 1422 Mobile: +1 646 400 3803
email: Joseph.Suarez@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
Registered in Australia Registered in England and Wales
Registered Office: Level 16, 171 Collins Street Registered Office: Neathouse Place
Melbourne Victoria 3000 Australia London SW1V 1LH United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015 Tel +44 20 7802 4000 Fax +44 20 7802 4111
Members of the BHP Billiton Group which is headquartered in Australia
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