|
BIL 201810310073A
BHP completes sale of Onshore US assets
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Release Time IMMEDIATE
Date 31 October 2018
Release Number 21/18
BHP completes sale of Onshore US assets
BHP has completed the sale of its interests in the Eagle Ford, Haynesville and
Permian Onshore US oil and gas assets to BP America Production Company (a
subsidiary of BP Plc) (BP) for a gross consideration of US$10.5 billion.
BP paid one-half of the gross consideration at completion (less customary completion
adjustments of US$0.2 billion), with the balance (deferred consideration) being
payable in six equal instalments over a six month period, the first instalment to be
paid one month after completion. Payment of the deferred consideration is not
subject to any conditions.
As announced on 28 September 2018, BHP has completed the sale of its Fayetteville
Onshore US gas assets for a consideration of US$0.3 billion.
Net proceeds (after tax and post customary transaction costs) of the sale of BHP’s
entire interests in the Eagle Ford, Haynesville, Permian and Fayetteville Onshore US
assets are US$10.4 billion. BHP is committed to returning these net proceeds to
shareholders, and will make a further announcement on 1 November 2018 as to the
form and timing of distribution of the proceeds.
As part of the transaction, BHP will provide certain transitional services to BP for up
to nine months following completion.
About the Eagle Ford, Haynesville and Permian Onshore US oil and gas assets
The Eagle Ford, Haynesville and Permian fields comprise approximately 512,000 net
acres1 where BHP produces oil, gas and natural gas liquids that are sold
domestically in the United States via connections to intrastate and interstate pipelines
and internationally through the export of processed condensate. In the 2018 financial
year, these assets produced 58.8 million barrels of oil equivalent.
(1) BHP 2018 Annual Report.
Further information on BHP can be found at bhp.com
Sponsor: UBS South Africa (Pty) Limited
Media Relations Investor Relations
Email: media.relations@bhpbilliton.com Email: investor.relations@bhpbilliton.com
Australia and Asia Australia and Asia
Gabrielle Notley Tara Dines
Tel: +61 3 9609 3830 Mobile: +61 4 1107 1715 Tel: +61 3 9609 2222 Mobile: + 61 499 249 005
United Kingdom and South Africa United Kingdom and South Africa
Neil Burrows Elisa Morniroli
Tel: +44 20 7802 7484 Mobile: +44 7786 661 683 Tel: +44 20 7802 7611 Mobile: +44 7825 926 646
North America Americas
Judy Dane James Wear
Tel: +1 713 961 8283 Mobile: +1 713 299 5342 Tel: +1 713 993 3737 Mobile: +1 347 882 3011
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
LEI WZE1WSENV6JSZFK0JC28 LEI 549300C116EOWV835768
Registered in Australia Registered in England and Wales
Registered Office: Level 18, 171 Collins Street Registered Office: Nova South, 160 Victoria Street
Melbourne Victoria 3000 Australia London SW1E 5LB 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 Group which is
headquartered in Australia
Follow us on social media
Date: 31/10/2018 03:03:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS. |
|
