Sharenet Sites 
Sharenet Sites
BHP Billiton Investor Briefing - Day 2
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
Date: 10 December 2013
To: London Stock Exchange
JSE Limited
For Release: Immediately
Contact: Elizabeth Hobley +44 (0) 20 7802 4054
BHP Billiton Plc – Investor Briefing
UK Listing Authority Submissions
BHP Billiton President Petroleum and Potash, Tim Cutt, will present at the Company’s
Petroleum investor briefing in Houston, USA on Tuesday, 10 December 2013.
When discussing his presentation, Mr Cutt said: “Our high quality resource portfolio is
concentrated in our core regions of the United States and Australia, where we have a
thorough understanding of the geology and a proven operating track record. Although our
resource base could support substantially higher rates of investment, we will focus on value
over volume. Our production guidance for the 2014 financial year remains unchanged at 250
million barrels of oil equivalent (BHP Billiton share).
“Our conventional oil and gas portfolio is the foundation of the Petroleum business and we
expect to maintain steady production in the medium term by focusing on low risk, high return
investments in proximity to existing infrastructure. This will include infill drilling at Shenzi,
Pyrenees, Atlantis and Mad Dog where individual wells can deliver investment returns of over
90 per cent.”
When discussing BHP Billiton’s Onshore US business, Mr Cutt said: “On the basis of annual
investment of US$4 billion, liquids production in our shale business will grow to 200 thousand
barrels per day in the 2017 financial year, with total Onshore US production reaching 500
thousand barrels of oil equivalent per day over the same period. In this scenario, Onshore US
is expected to be self-funding in the 2016 financial year before generating almost US$3 billion
of free cash flow in the 2020 financial year. As a result, Onshore US is well positioned to
become another major cash flow generator for BHP Billiton.
“Consistent with our strategy, we continue to evaluate and strengthen our acreage position as
we seek to extend our liquids production profile. Our evaluation program in the Permian has
successfully identified a focus area where we are actively pursuing a 100 thousand barrel of
oil equivalent per day development. The investment associated with our overall evaluation of
the Permian Basin, which has identified this focus area, will lead to a depreciation charge of
approximately US$600 million in the Permian in the 2014 financial year, which reflects the
early stage of development.
“Our productivity agenda is also a major focus and some of the largest opportunities can be
found right here in the shale industry. This is a business that looks a lot like a manufacturing
operation where repetition, efficiency and advancements in technology characterise best
practice.”
Mr Cutt also said that he will continue to simplify the Petroleum portfolio, for value: “Future
investment will be increasingly focused on those same core areas of Australia, the United
States and potentially, Trinidad and Tobago. Our disciplined divestment process, which led to
the US$1.7 billion sale of our interests in Browse, will continue to create substantial value for
shareholders.”
A copy of the presentation has today been submitted to the National Storage Mechanism and
will shortly be available for inspection at:
www.hemscott.com/nsm.do
The document may also be accessed via BHP Billiton’s website (www.bhpbilliton.com) or by
using the following web link:
http://www.bhpbilliton.com/home/investors/reports/Documents/2013/131210_InvestorBriefing
_Petroleum.pdf
Media Relations Investor Relations
Australia Australia
Emily Perry James Agar
Tel: +61 3 9609 2800 Mobile: +61 477 325 803 Tel: +61 3 9609 2222 Mobile: +61 467 807 064
email: Emily.Perry@bhpbilliton.com email: James.Agar@bhpbilliton.com
Fiona Hadley Andrew Gunn
Tel: +61 3 9609 2211 Mobile: +61 427 777 908 Tel: +61 3 9609 3575 Mobile: +61 402 087 354
email: Fiona.Hadley@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 Tara Dines
Tel: +44 20 7802 7113 Mobile: +44 7825 342 232
United Kingdom Email: Tara.Dines@bhpbilliton.com
Ruban Yogarajah Americas
Tel: +44 20 7802 4033 Mobile: +44 7827 082 022
email: Ruban.Yogarajah@bhpbilliton.com James Agar
Tel: +61 3 9609 2222 Mobile: +61 467 807 064
Jennifer White email: James.Agar@bhpbilliton.com
Tel: +44 20 7802 7462 Mobile: +44 7827 253 764
email: Jennifer.White@bhpbilliton.com Matt Chism
Tel: +1 71 359 96158 Mobile: +1 281 782 2238
Americas email: Matt.E.Chism@bhpbilliton.com
Jaryl Strong
Tel: +1 713 499 5548 Mobile: +1 281 222 6627
email: Jaryl.Strong@bhpbilliton.com
Sponsor: Absa Bank Limited (acting through its Corporate and Investment Banking Division)
BHP Billiton Plc Registration number 3196209
Registered in England and Wales
Registered Office: Neathouse Place London SW1V 1BH United Kingdom
A member of the BHP Billiton Group which is headquartered in Australia
Date: 10/12/2013 04:08:00 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.
