Wrap Text
Operational Review for the Quarter Ended 30 September 2015
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Release Time IMMEDIATE
Date 21 October 2015
Number 23/15
BHP BILLITON OPERATIONAL REVIEW
FOR THE QUARTER ENDED 30 SEPTEMBER 2015
• Production guidance maintained across all businesses.
• Petroleum capital expenditure of US$2.9 billion now planned for the 2016 financial year, a 6%
decline from prior guidance of US$3.1 billion.
• Four major projects under development are tracking to plan.
• The Group continues to pursue high-quality oil plays with additional prospective acreage
acquired in the Beagle sub-basin in Western Australia and the Western Gulf of Mexico.
• Approval received for the extension of operational permits for Cerro Colorado until 2023.
• In October, BHP Billiton priced multi-currency hybrid notes in the Euro, Sterling and US Dollar
markets.
Production SEP Q15 vs SEP Q14
Petroleum (MMboe) 65 (4%) Lower gas volumes reflect deferral of development
activity in the Onshore US gas-focused fields for longer-
term value.
Copper (kt) 377 (3%) Lower grades at Escondida offset strong operating
performance across the business.
Iron ore (Mt) 61 7% Ramp-up of the Jimblebar mining hub at Western
Australia Iron Ore during the 2015 financial year.
Metallurgical coal (Mt) 10 0% Productivity improvements offset planned longwall moves
and wash-plant shutdowns at Queensland Coal.
Energy coal (Mt) 10 0% Higher production at Cerrejón offset slightly lower
volumes at New South Wales Energy Coal.
BHP Billiton Chief Executive Officer, Andrew Mackenzie, said: “BHP Billiton remains on track to meet
full-year production and cost guidance after a solid operational performance this quarter. In Petroleum,
we continue to reduce costs in both our Onshore US and Conventional businesses, and will meet our
production targets with US$200 million less capital investment. We successfully acquired prospective oil
acreage in Western Australia and the Western Gulf of Mexico and will continue to invest through the cycle
to create value for shareholders.”
Summary
Operational performance
Production for the September 2015 quarter and 2016 financial year guidance are summarised in the
table below.
SEP SEP Q15 SEP Q15
2015 vs vs FY16
Production QTR SEP Q14 JUN Q15 guidance
Petroleum (MMboe) 65 (4%) 2% 237
Onshore US (MMboe) 30 (2%) (5%) 112
Copper (Mt) 0.4 (3%) (13%) 1.5
Escondida (kt) 230 (14%) (31%) 940
Iron ore (Mt) 61 7% 2% 247
WAIO (100% basis) (Mt) 67 8% 3% 270
Metallurgical coal (Mt) 10 0% (8%) 40
Energy coal (Mt)(1) 10 0% (7%) 40
Major development projects
At the end of the September 2015 quarter, BHP Billiton had four major projects under development in
Petroleum, Copper and Potash, with a combined budget of US$7.0 billion.
Corporate update
On 14 and 15 October, BHP Billiton priced multi-currency hybrid notes in the Euro, Sterling and US
Dollar markets. The Group priced EUR2.0 billion of subordinated fixed rate reset notes in the Euro
market across two tranches, GBP600 million of subordinated fixed rate reset notes in the Sterling market
and US$3.25 billion of subordinated fixed rate reset notes in the US Dollar market across two tranches.
The proceeds will be used for general corporate purposes, including refinancing existing near-term debt
maturities.
Petroleum
Production
SEP SEP Q15 SEP Q15
2015 vs vs
QTR SEP Q14 JUN Q15
Crude oil, condensate and natural gas liquids (MMboe) 30.7 (1%) (1%)
Natural gas (bcf) 202.8 (7%) 6%
Total petroleum production (MMboe) 64.5 (4%) 2%
Total petroleum production – Total petroleum production for the September 2015 quarter decreased
by four per cent to 64.5 MMboe. Guidance for the 2016 financial year remains unchanged at 237
MMboe, despite lower planned capital investment across our operations.
Crude oil, condensate and natural gas liquids – Crude oil, condensate and natural gas liquids
production for the September 2015 quarter decreased by one per cent to 30.7 MMboe.
Onshore US liquids volumes for the September 2015 quarter rose by 17 per cent to 13.5 MMboe,
underpinned by continued momentum in the Black Hawk and Permian where liquids production
increased by 25 per cent and 103 per cent, respectively. A 17 per cent decline in Black Hawk and
Permian liquids production from the June 2015 quarter reflected lower capital spend. However, we
continue to expect annual volumes from these liquids-rich fields to be stable year on year.
In our Conventional business, an 11 per cent decrease in liquids production reflects the impact of
industrial action at Bass Strait and natural field decline across the portfolio.
Natural gas – Natural gas production for the September 2015 quarter declined by seven per cent to 203
bcf.
The decline primarily reflected lower Onshore US gas volumes as a result of the decision to defer
development activity for longer-term value. This was partially offset by higher seasonal demand at Bass
Strait.
Projects
Capital Initial
Project and expenditure production
ownership (US$m) target date Capacity Progress
North West Shelf 400 CY16 To maintain LNG plant On schedule and budget. The
Greater Western throughput from the North overall project is 97% complete.
Flank-A West Shelf operations.
(Australia)
16.67%
(non-operator)
Bass Strait 520 CY16 Designed to process On schedule and budget. The
Longford Gas approximately 400 MMcf/d of overall project is 68% complete.
Conditioning high-CO2 gas.
Plant
(Australia)
50% (non-
operator)
Petroleum capital expenditure of approximately US$2.9 billion is now planned in the 2016 financial year,
a six per cent decline from prior guidance of US$3.1 billion, and includes Onshore US capital
expenditure of US$1.4 billion. Conventional capital expenditure is expected to account for US$1.5 billion,
and remains focused on high-return infill drilling opportunities in the Gulf of Mexico and Australia, as well
as life extension projects at Bass Strait and North West Shelf.
Onshore US development activity
Onshore US drilling and development expenditure for the September 2015 quarter was US$463 million.
Our operated rig count decreased from 10 to seven during the period as we continued to improve drilling
efficiency and defer development activity to preserve value. Completions activity will be tailored to
market conditions and we will exercise further flexibility should there be greater value in deferral.
September 2015 quarter Liquids focused areas Gas focused areas
September 2014 quarter) Eagle Ford Permian Haynesville Fayetteville Total
Capital expenditure(i) US$ billion 0.3 (0.6) 0.1 (0.2) 0.0 (0.1) 0.0 (0.0) 0.5 (0.9)
Rig allocation At period end 5 (17) 2 (5) 0 (3) 0 (0) 7 (25)
Net wells drilled and Period total 44 (29) 7 (6) 4 (11) 6 (13) 61 (59)
completed(ii)
Net productive wells(iii) At period end 882 (676) 83 (63) 411 (910) 1,080 (1,034) 2,456 (2,683)
(i) Includes land acquisition, site preparation, drilling, completions, well site facilities, mid-stream infrastructure and pipelines.
(ii) Can vary between periods based on changes in rig activity and the inventory of wells drilled but not yet completed at period
end.
(iii) Change includes reduction associated with the divestment of assets in North Louisiana (Haynesville) and Pecos (Permian).
Petroleum exploration
Exploration and appraisal wells drilled during the September 2015 quarter are summarised below.
Well Location Target BHP Billiton Spud date Water depth Total well Status
equity depth
Shenzi Gulf of Oil 44% 14 June 2015 1,309 m 8,315 m Plugged and
North-ST1 Mexico (operator) abandoned
GC609
Shenzi Gulf of Oil 44% 15 August 2015 1,309 m 9,223 m(2) Hydrocarbons
North-ST2 Mexico (operator) encountered Drilling
GC609 ahead
Our Petroleum exploration is focused in the deepwater Gulf of Mexico, the Caribbean and the Beagle
sub-basin in Western Australia. We are pursuing high-quality oil plays in these three key focus areas. In
August 2015, BHP Billiton was the apparent highest bidder on 26 blocks in the Western Gulf of Mexico
Lease Sale with a 100 per cent working interest. Of these leases, nine have been awarded and 17
remain subject to regulatory approval. The Group also captured approximately 13,000 square kilometres
in the Beagle sub-basin in Western Australia during the period.
Petroleum exploration expenditure for the September 2015 quarter was US$171 million, of which US$78
million was expensed. A US$600 million exploration program is planned for the 2016 financial year,
largely focused on acreage access and seismic data acquisition across our three key focus areas that
we expect to test over the next three years.
Copper
Production
SEP SEP Q15 SEP Q15
2015 vs vs
QTR SEP Q14 JUN Q15
Copper (kt) 377 (3%) (13%)
Zinc (t) 20,597 (1%) 30%
Silver (troy koz) 3,193 35% 29%
Uranium oxide concentrate (t) 1,161 34% 95%
Copper – Total copper production for the September 2015 quarter decreased by three per cent to 377 kt
as strong operating performance across the business was offset by grade decline at Escondida, as
anticipated. Guidance for the 2016 financial year remains unchanged at 1.5 Mt.
Escondida copper production for the September 2015 quarter decreased by 14 per cent to 230 kt as
record material mined, supported by a six per cent improvement in truck utilisation, was more than offset
by a 17 per cent decline in grade.
Production guidance for Escondida remains unchanged at approximately 940 kt of copper for the 2016
financial year as increased throughput, enabled by the completion of the Escondida Organic Growth
Project 1 and operational improvements, will only partly offset an anticipated 27 per cent decline in
grade. In the medium term, completion of the Escondida Water Supply project and a potential life
extension of Los Colorados may enable utilisation of three concentrators to offset grade decline and
support a strong recovery in production.
Pampa Norte copper production for the September 2015 quarter was broadly unchanged at 57 kt as
higher grade and recoveries at Spence offset lower grades and recoveries at Cerro Colorado. On 29
September 2015, the Regional Environmental Committee of the Tarapacá Region approved the extension of operational
permits for Cerro Colorado until 2023. Production at Pampa Norte for the 2016 financial year is expected
to remain broadly unchanged from the prior year.
Olympic Dam copper production increased by 40 per cent from the September 2014 quarter to 55 kt, and
reflects completion of planned smelter maintenance in the prior period. An increase in production is
anticipated in the 2016 financial year following a mill outage in the prior year.
Antamina copper production for the September 2015 quarter increased by 37 per cent to 35 kt as higher
grades and recoveries were further supported by debottlenecking initiatives at the mill. Higher grades at
Antamina are expected to contribute to an increase in copper volumes in the 2016 financial year.
Projects
Capital Initial
expenditure production
Project and ownership (US$m) target date Capacity Progress
Escondida Water 3,430 CY17 New desalination facility to On schedule and budget. The
Supply ensure continued water overall project is 62% complete.
(Chile) supply to Escondida.
57.5%
Iron Ore
Production
SEP SEP Q15 SEP Q15
2015 vs vs
QTR SEP Q14 JUN Q15
Iron ore (kt) 61,315 7% 2%
Iron ore – Total iron ore production for the September 2015 quarter increased by seven per cent to a
record 61 Mt. Guidance for the 2016 financial year remains unchanged at 247 Mt.
Western Australia Iron Ore (WAIO) production increased by eight per cent in the September 2015
quarter to a record 67 Mt (100 per cent basis), supported by the ramp-up of the Jimblebar mining hub
and improved ore handling plant utilisation at Newman. WAIO also achieved record sales volumes of 67
Mt (100 per cent basis) as a result of an increase in direct to ship ore and continued optimisation of the
port facilities.
Production at WAIO is forecast to increase to 270 Mt (100 per cent basis) in the 2016 financial year with
better productivity the sole source of volume growth. Work has commenced on the installation of a new
primary crusher and additional conveying capacity at Jimblebar, and associated costs are included within
WAIO’s average annual sustaining capital expenditure of approximately US$5 per tonne. The ramp-up of
additional capacity at the Jimblebar mining hub along with further productivity improvements, will deliver
an increase in system capacity to 290 Mtpa over time.
Samarco production for the September 2015 quarter increased by nine per cent to 7.5 Mt (100 per cent
basis) underpinned by the ramp-up of the fourth pellet plant to full capacity during the March 2015
quarter.
Coal
Production
SEP SEP Q15 SEP Q15
2015 vs vs
QTR SEP Q14 JUN Q15
Metallurgical coal (kt) 10,499 0% (8%)
Energy coal (kt) 9,847 0% (7%)
Metallurgical coal – Metallurgical coal production for the September 2015 quarter was in line with the
prior period. Guidance for the 2016 financial year remains unchanged at 40 Mt.
At Queensland Coal, record production at the Daunia and South Walker Creek mines was supported by
an increase in wash-plant utilisation and yield. This was offset by planned longwall moves at the
Broadmeadow and Crinum mines and wash-plant shutdowns at the Goonyella and Peak Downs mines.
At current mining rates, operations at Crinum are expected to cease in the first quarter of the 2016
calendar year as the mine approaches the end of its economic reserve life.
First production from the Haju mine in Indonesia was achieved during the quarter.
Energy coal – Energy coal production for the September 2015 quarter was broadly in line with the prior
period. Guidance for the 2016 financial year remains unchanged at 40 Mt(1).
Production at Cerrejón continues to be constrained by drought conditions, although volumes were seven
per cent higher than the September 2014 quarter which was affected by more severe weather. This
offset a slight reduction in volumes at New South Wales Energy Coal during the quarter due to lower
yield.
On 2 July 2015, BHP Billiton announced that the sale agreement for the San Juan Mine to
Westmoreland Coal Company (WCC) had been executed. Subject to regulatory approval, the
transaction is expected to be completed at the end of the 2015 calendar year with WCC assuming full
operation of the mine from 1 January 2016.
Potash
Projects
Project and Investment
ownership (US$m) Scope Progress
Jansen Potash 2,600 Investment to finish the excavation and The project is 51% complete and within
(Canada) lining of the production and service the approved budget. Shaft excavation is
100% shafts, and to continue the installation progressing following the successful
of essential surface infrastructure and redesign of the temporary liner.
utilities.
Other
Production
SEP SEP Q15 SEP Q15
2015 vs vs
QTR SEP Q14 JUN Q15
Nickel (kt) 22.1 (12%) 15%
Nickel – Nickel West production for the September 2015 quarter decreased by 12 per cent to 22 kt and
reflected a reduction in third party ore delivered to the Kambalda concentrator.
Minerals exploration
Minerals exploration expenditure for the September 2015 quarter was US$44 million, of which US$34
million was expensed. Greenfield minerals exploration is predominantly focused on advancing copper
targets within Chile, Peru and the South-West United States.
Variance analysis relates to the relative performance of BHP Billiton and/or its operations during the
September 2015 quarter compared with the September 2014 quarter, unless otherwise noted.
Production volumes, sales volumes and capital and exploration expenditure from subsidiaries are
reported on a 100 per cent basis; production and sales volumes from equity accounted investments and
other operations are reported on a proportionate consolidation basis.
The following footnotes apply to this Operational Review:
(1) Guidance assumes a full year of production from the San Juan mine.
(2) Well depth as at 30 September 2015; drilling still in progress.
The following abbreviations may have been used throughout this report: barrels (bbl); billion cubic feet
(bcf); cost and freight (CFR); cost, insurance and freight (CIF); dry metric tonne unit (dmtu); free on
board (FOB); grams per tonne (g/t); kilograms per tonne (kg/t); kilometre (km); metre (m); million barrels
of oil equivalent (MMboe); million cubic feet per day (MMcf/d); million tonnes (Mt); million tonnes per
annum (Mtpa); ounces (oz); pounds (lb); thousand barrels of oil equivalent (Mboe); thousand ounces
(koz); thousand standard cubic feet (Mscf); thousand tonnes (kt); thousand tonnes per annum (ktpa);
thousand tonnes per day (ktpd); tonnes (t); and wet metric tonnes (wmt).
Further information on BHP Billiton can be found at: www.bhpbilliton.com
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PRODUCTION SUMMARY
QUARTER ENDED YEAR TO DATE
BHP Billiton SEP DEC MAR JUN SEP SEP SEP
interest 2014 2014 2015 2015 2015 2015 2014
Petroleum (1)
Petroleum
Crude oil, condensate and NGL
(Mboe)
Onshore US 11,460 12,905 15,848 15,413 13,453 13,453 11,460
Conventional 19,485 18,258 15,450 15,759 17,259 17,259 19,485
Total 30,945 31,163 31,298 31,172 30,712 30,712 30,945
Natural gas (bcf)
Onshore US 113.6 110.3 99.9 96.4 98.2 98.2 113.6
Conventional 105.3 84.1 81.6 95.4 104.6 104.6 105.3
Total 218.9 194.4 181.5 191.8 202.8 202.8 218.9
Total petroleum production 67.4 63.6 61.5 63.2 64.5 64.5 67.4
(MMboe)
Copper (2)
Copper
Payable metal in concentrate (kt)
Escondida (3) 57.5% 199.4 208.8 260.9 247.0 159.6 159.6 199.4
Antamina 33.8% 25.7 27.3 26.7 28.0 35.1 35.1 25.7
Total 225.1 236.1 287.6 275.0 194.7 194.7 225.1
Cathode (kt)
Escondida (3) 57.5% 69.3 75.0 77.3 88.8 70.9 70.9 69.3
Pampa Norte (4) 100% 55.8 69.6 66.5 57.7 56.8 56.8 55.8
Olympic Dam 100% 39.2 43.0 28.6 13.7 54.9 54.9 39.2
Total 164.3 187.6 172.4 160.2 182.6 182.6 164.3
Total Copper 389.4 423.7 460.0 435.2 377.3 377.3 389.4
Lead
Payable metal in concentrate (t)
Antamina 33.8% 633 486 493 448 857 857 633
Total 633 486 493 448 857 857 633
Zinc
Payable metal in concentrate (t)
Antamina 33.8% 20,736 16,271 13,571 15,857 20,597 20,597 20,736
Total 20,736 16,271 13,571 15,857 20,597 20,597 20,736
Gold
Payable metal in concentrate (troy oz)
Escondida (3) 57.5% 21,980 12,710 21,265 25,554 23,805 23,805 21,980
Olympic Dam (refined gold) 100% 30,364 38,537 26,441 9,438 29,349 29,349 30,364
Total 52,344 51,247 47,706 34,992 53,154 53,154 52,344
Silver
Payable metal in concentrate (troy koz)
Escondida (3) 57.5% 1,159 958 1,355 1,314 1,181 1,181 1,159
Antamina 33.8% 954 885 872 1,115 1,766 1,766 954
Olympic Dam (refined silver) 100% 254 243 172 55 246 246 254
Total 2,367 2,086 2,399 2,484 3,193 3,193 2,367
Uranium
Payable metal in concentrate (t)
Olympic Dam 100% 866 1,076 607 595 1,161 1,161 866
Total 866 1,076 607 595 1,161 1,161 866
Molybdenum
Payable metal in concentrate (t)
Antamina 33.8% 40 75 151 206 92 92 40
Total 40 75 151 206 92 92 40
Iron Ore
Iron Ore
Production (kt) (5)
Newman 85% 16,707 16,012 14,916 16,062 18,006 18,006 16,707
Area C Joint Venture 85% 13,265 11,314 13,201 12,214 12,163 12,163 13,265
Yandi Joint Venture 85% 16,607 17,694 16,798 17,452 16,886 16,886 16,607
Jimblebar (6) 85% 3,971 2,813 4,513 5,462 3,262 3,262 3,971
Wheelarra 85% 3,115 4,755 5,965 5,159 7,259 7,259 3,115
Samarco 50% 3,426 3,764 3,586 3,737 3,739 3,739 3,426
Total 57,091 56,352 58,979 60,086 61,315 61,315 57,091
Coal
Metallurgical coal
Production (kt) (7)
BMA 50% 8,228 9,009 7,602 9,023 8,087 8,087 8,228
BHP Mitsui Coal (8) 80% 2,204 2,128 2,057 2,370 2,347 2,347 2,204
Haju (9) 75% - - - - 15 15 -
Total 10,432 11,137 9,659 11,393 10,449 10,449 10,432
Energy Coal
Production (kt)
USA 100% 2,690 2,512 2,247 2,574 2,676 2,676 2,690
Australia 100% 4,752 4,608 5,252 5,086 4,644 4,644 4,752
Colombia 33.3% 2,369 3,003 2,975 2,944 2,527 2,527 2,369
Total 9,811 10,123 10,474 10,604 9,847 9,847 9,811
Nickel
Saleable production (kt)
Nickel West 100% 25.0 23.7 21.9 19.3 22.1 22.1 25.0
Total 25.0 23.7 21.9 19.3 22.1 22.1 25.0
(1) LPG and ethane are reported as natural gas liquids (NGL). Product-specific conversions are made and NGL is reported in
barrels of oil equivalent (boe). Total boe conversions are based on 6 bcf of natural gas equals 1 MMboe.
(2) Metal production is reported on the basis of payable metal.
(3) Shown on a 100% basis. BHP Billiton interest in saleable production is 57.5%.
(4) Includes Cerro Colorado and Spence.
(5) Iron ore production is reported on a wet tonnes basis.
(6) Shown on a 100% basis. BHP Billiton interest in saleable production is 85%.
(7) Metallurgical coal production is reported on the basis of saleable product. Production figures include some thermal coal.
(8) Shown on 100% basis. BHP Billiton interest in saleable production is 80%.
(9) Shown on 100% basis. BHP Billiton interest in saleable production is 75%.
PRODUCTION AND SALES REPORT
QUARTER ENDED YEAR TO DATE
SEP DEC MAR JUN SEP SEP SEP
2014 2014 2015 2015 2015 2015 2014
Petroleum (1)
Bass Strait
Crude oil and condensate (Mboe) 2,818 2,284 1,156 1,707 1,877 1,877 2,818
NGL (Mboe) 2,161 1,512 961 1,548 2,091 2,091 2,161
Natural gas (bcf) 33.3 18.8 18.3 31.9 38.7 38.7 33.3
Total petroleum products (MMboe) 10.5 6.9 5.2 8.6 10.4 10.4 10.5
North West Shelf
Crude oil and condensate (Mboe) 1,501 1,395 1,355 1,215 1,362 1,362 1,501
NGL (Mboe) 293 273 268 198 227 227 293
Natural gas (bcf) 36.9 33.4 32.8 29.9 33.9 33.9 36.9
Total petroleum products (MMboe) 7.9 7.2 7.1 6.4 7.2 7.2 7.9
Stybarrow (2)
Crude oil and condensate (Mboe) 225 248 194 93 (8) (8) 225
Total petroleum products (MMboe) 0.2 0.2 0.2 0.1 (0.0) (0.0) 0.2
Pyrenees
Crude oil and condensate (Mboe) 2,109 1,901 1,709 1,435 2,096 2,096 2,109
Total petroleum products (MMboe) 2.1 1.9 1.7 1.4 2.1 2.1 2.1
Other Australia (3)
Crude oil and condensate (Mboe) 17 11 11 13 13 13 17
Natural gas (bcf) 16.4 13.0 14.1 16.0 16.6 16.6 16.4
Total petroleum products (MMboe) 2.8 2.2 2.4 2.7 2.8 2.8 2.8
Atlantis (4)
Crude oil and condensate (Mboe) 4,175 3,740 3,645 3,110 3,637 3,637 4,175
NGL (Mboe) 248 294 245 209 231 231 248
Natural gas (bcf) 1.7 2.3 1.7 1.7 1.6 1.6 1.7
Total petroleum products (MMboe) 4.7 4.4 4.2 3.6 4.1 4.1 4.7
Mad Dog (4)
Crude oil and condensate (Mboe) 390 877 720 651 588 588 390
NGL (Mboe) 21 42 37 20 23 23 21
Natural gas (bcf) 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Total petroleum products (MMboe) 0.4 0.9 0.8 0.7 0.6 0.6 0.4
Shenzi (4)
Crude oil and condensate (Mboe) 3,530 3,502 3,283 3,369 3,277 3,277 3,530
NGL (Mboe) 271 260 235 174 236 236 271
Natural gas (bcf) 0.8 0.8 0.7 0.7 0.7 0.7 0.8
Total petroleum products (MMboe) 3.9 3.9 3.6 3.7 3.6 3.6 3.9
Eagle Ford (5)
Crude oil and condensate (Mboe) 7,060 8,098 10,837 9,363 7,700 7,700 7,060
NGL (Mboe) 3,421 3,638 3,868 4,183 3,799 3,799 3,421
Natural gas (bcf) 28.5 26.3 27.7 26.1 25.8 25.8 28.5
Total petroleum products (MMboe) 15.2 16.1 19.3 17.9 15.8 15.8 15.2
Permian (5)
Crude oil and condensate (Mboe) 601 807 856 1,447 1,481 1,481 601
NGL (Mboe) 362 358 287 420 473 473 362
Natural gas (bcf) 3.0 2.8 2.1 3.0 3.9 3.9 3.0
Total petroleum products (MMboe) 1.5 1.6 1.5 2.4 2.6 2.6 1.5
Haynesville (5) (6)
Crude oil and condensate (Mboe) 16 4 - - - - 16
Natural gas (bcf) 45.7 43.6 37.8 35.4 36.4 36.4 45.7
Total petroleum products (MMboe) 7.6 7.3 6.3 5.9 6.1 6.1 7.6
Fayetteville (5)
Natural gas (bcf) 36.4 37.6 32.3 31.9 32.1 32.1 36.4
Total petroleum products (MMboe) 6.1 6.3 5.4 5.3 5.4 5.4 6.1
Trinidad/Tobago
Crude oil and condensate (Mboe) 252 227 196 562 242 242 252
Natural gas (bcf) 8.8 7.8 7.2 9.1 7.6 7.6 8.8
Total petroleum products (MMboe) 1.7 1.5 1.4 2.1 1.5 1.5 1.7
Other Americas (4) (7)
Crude oil and condensate (Mboe) 349 500 348 348 361 361 349
NGL (Mboe) 38 25 14 11 12 12 38
Natural gas (bcf) 0.2 0.2 0.2 0.1 0.2 0.2 0.2
Total petroleum products (MMboe) 0.4 0.6 0.4 0.4 0.4 0.4 0.4
UK (8)
Crude oil and condensate (Mboe) 34 77 64 76 59 59 34
NGL (Mboe) 4 7 7 83 (4) (4) 4
Natural gas (bcf) 0.7 1.4 1.1 1.0 1.0 1.0 0.7
Total petroleum products (MMboe) 0.2 0.3 0.3 0.3 0.2 0.2 0.2
Algeria
Crude oil and condensate (Mboe) 1,011 1,050 975 912 916 916 1,011
Total petroleum products (MMboe) 1.0 1.1 1.0 0.9 0.9 0.9 1.0
Pakistan
Crude oil and condensate (Mboe) 38 33 27 25 23 23 38
Natural gas (bcf) 6.4 6.3 5.4 4.9 4.2 4.2 6.4
Total petroleum products (MMboe) 1.1 1.1 0.9 0.8 0.7 0.7 1.1
Total petroleum products
Crude oil and condensate
Onshore US (Mboe) 7,677 8,909 11,693 10,810 9,181 9,181 7,677
Conventional (Mboe) 16,449 15,845 13,683 13,516 14,443 14,443 16,449
Total (Mboe) 24,126 24,754 25,376 24,326 23,624 23,624 24,126
NGL
Onshore US (Mboe) 3,783 3,996 4,155 4,603 4,272 4,272 3,783
Conventional (Mboe) 3,036 2,413 1,767 2,243 2,816 2,816 3,036
Total (Mboe) 6,819 6,409 5,922 6,846 7,088 7,088 6,819
Natural Gas
Onshore US (bcf) 113.6 110.3 99.9 96.4 98.2 98.2 113.6
Conventional (bcf) 105.3 84.1 81.6 95.4 104.6 104.6 105.3
Total (bcf) 218.9 194.4 181.5 191.8 202.8 202.8 218.9
(1) Total boe conversions are based on 6 bcf of natural gas equals 1 MMboe.
(2) Stybarrow ceased production on 26 June 2015. Crude oil and condensate production in the September 2015
quarter was reduced by an 8 Mboe finalisation adjustment with respect to the June 2015 quarter.
(3) Other Australia includes Minerva and Macedon.
(4) Gulf of Mexico volumes are net of royalties.
(5) Onshore US volumes are net of mineral holder royalties.
(6) Haynesville includes North Louisiana Conventional. BHP Billiton completed the sale of North Louisiana
Conventional on 17 November 2014.
(7) Other Americas includes Neptune, Genesis and Overriding Royalty Interest.
(8) UK NGL production for the September 2015 quarter was reduced by a 18 Mboe reporting adjustment following
a reconciliation between estimated and actual volumes with respect to the June 2015 quarter.
Copper
Metals production is payable metal unless otherwise stated.
Escondida, Chile (1)
Material mined (kt) 93,474 103,750 91,139 96,337 110,067 110,067 93,474
Sulphide ore milled (kt) 20,651 18,354 21,382 22,909 22,820 22,820 20,651
Average copper grade (%) 1.20% 1.45% 1.49% 1.32% 1.00% 1.00% 1.20%
Production ex mill (kt) 205.5 215.5 266.3 249.6 169.7 169.7 205.5
Production
Payable copper (kt) 199.4 208.8 260.9 247.0 159.6 159.6 199.4
Copper cathode (EW) (kt) 69.3 75.0 77.3 88.8 70.9 70.9 69.3
Payable gold concentrate (troy oz) 21,980 12,710 21,265 25,554 23,805 23,805 21,980
Payable silver concentrate (troy koz) 1,159 958 1,355 1,314 1,181 1,181 1,159
Sales
Payable copper (kt) 203.3 203.2 269.6 243.0 157.6 157.6 203.3
Copper cathode (EW) (kt) 64.1 79.8 64.9 101.4 63.8 63.8 64.1
Payable gold concentrate (troy oz) 21,980 12,710 21,265 25,554 23,805 23,805 21,980
Payable silver concentrate (troy koz) 1,159 958 1,355 1,314 1,181 1,181 1,159
(1) Shown on a 100% basis. BHP Billiton interest in saleable production is 57.5%.
Pampa Norte, Chile
Cerro Colorado
Material mined (kt) 15,517 16,124 15,030 14,211 13,870 13,870 15,517
Ore milled (kt) 4,189 4,446 4,501 4,798 4,703 4,703 4,189
Average copper grade (%) 0.77% 0.70% 0.68% 0.70% 0.64% 0.64% 0.77%
Production
Copper cathode (EW) (kt) 15.7 20.6 21.5 20.4 13.7 13.7 15.7
Sales
Copper cathode (EW) (kt) 20.0 21.0 22.0 20.8 13.0 13.0 20.0
Spence
Material mined (kt) 24,238 23,422 21,429 21,062 22,922 22,922 24,238
Ore milled (kt) 4,409 4,560 3,783 4,082 4,919 4,919 4,409
Average copper grade (%) 1.33% 1.20% 1.06% 1.24% 1.41% 1.41% 1.33%
Production
Copper cathode (EW) (kt) 40.1 49.0 45.0 37.3 43.1 43.1 40.1
Sales
Copper cathode (EW) (kt) 36.9 51.8 45.0 40.6 38.2 38.2 36.9
Antamina, Peru
Material mined (100%) (kt) 54,675 43,793 49,787 56,944 56,793 56,793 54,675
Sulphide ore milled (100%) (kt) 12,370 13,594 12,880 14,831 14,300 14,300 12,370
Average head grades
- Copper (%) 0.81% 0.74% 0.79% 0.74% 0.88% 0.88% 0.81%
- Zinc (%) 0.84% 0.66% 0.69% 0.56% 0.79% 0.79% 0.84%
Production
Payable copper (kt) 25.7 27.3 26.7 28.0 35.1 35.1 25.7
Payable zinc (t) 20,736 16,271 13,571 15,857 20,597 20,597 20,736
Payable silver (troy koz) 954 885 872 1,115 1,766 1,766 954
Payable lead (t) 633 486 493 448 857 857 633
Payable molybdenum (t) 40 75 151 206 92 92 40
Sales
Payable copper (kt) 26.3 29.8 26.5 26.3 30.8 30.8 26.3
Payable zinc (t) 12,912 21,459 15,545 13,645 18,747 18,747 12,912
Payable silver (troy koz) 896 1,026 915 911 1,522 1,522 896
Payable lead (t) 320 711 461 624 266 266 320
Payable molybdenum (t) 50 90 163 157 156 156 50
Olympic Dam, Australia
Material mined (1) (kt) 2,692 2,667 2,186 1,773 2,357 2,357 2,692
Ore milled (kt) 2,206 2,776 1,477 1,469 2,727 2,727 2,206
Average copper grade (%) 1.97% 1.70% 1.88% 1.97% 1.64% 1.64% 1.97%
Average uranium grade (kg/t) 0.61 0.52 0.56 0.62 0.60 0.60 0.61
Production
Copper cathode (ER and
EW) (kt) 39.2 43.0 28.6 13.7 54.9 54.9 39.2
Uranium oxide concentrate (t) 866 1,076 607 595 1,161 1,161 866
Refined gold (troy oz) 30,364 38,537 26,441 9,438 29,349 29,349 30,364
Refined silver (troy koz) 254 243 172 55 246 246 254
Sales
Copper cathode (ER and
EW) (kt) 39.1 43.0 30.7 14.5 52.5 52.5 39.1
Uranium oxide concentrate (t) 848 1,125 877 818 677 677 848
Refined gold (troy oz) 30,707 34,938 31,938 9,064 25,598 25,598 30,707
Refined silver (troy koz) 227 238 206 61 213 213 227
(1) Material mined refers to run of mine ore mined and hoisted.
Iron Ore
Iron Ore production and sales are reported on a wet tonnes basis.
Pilbara, Australia
Production
Newman (kt) 16,707 16,012 14,916 16,062 18,006 18,006 16,707
Area C Joint Venture (kt) 13,265 11,314 13,201 12,214 12,163 12,163 13,265
Yandi Joint Venture (kt) 16,607 17,694 16,798 17,452 16,886 16,886 16,607
Jimblebar (1) (kt) 3,971 2,813 4,513 5,462 3,262 3,262 3,971
Wheelarra (2) (kt) 3,115 4,755 5,965 5,159 7,259 7,259 3,115
Total production (kt) 53,665 52,588 55,393 56,349 57,576 57,576 53,665
Total production (100%) (kt) 62,436 61,371 64,372 65,330 67,161 67,161 62,436
Sales
Lump (kt) 12,766 12,661 12,617 13,234 14,003 14,003 12,766
Fines (kt) 41,633 41,185 42,635 43,430 43,587 43,587 41,633
Total (kt) 54,399 53,846 55,252 56,664 57,590 57,590 54,399
Total sales (100%) (kt) 63,303 62,848 64,201 65,703 67,177 67,177 63,303
(1) Shown on a 100% basis. BHP Billiton interest in saleable production is 85%.
(2) Production from Wheelarra is processed via the Jimblebar processing hub.
Samarco, Brazil
Production (kt) 3,426 3,764 3,586 3,737 3,739 3,739 3,426
Sales (kt) 3,303 4,151 2,876 3,627 3,531 3,531 3,303
Coal
Coal production is reported on the basis of saleable product.
Queensland Coal
Production (1)
BMA
Blackwater (kt) 1,777 1,775 1,569 1,873 1,803 1,803 1,777
Goonyella (kt) 2,144 2,350 1,951 2,065 1,868 1,868 2,144
Peak Downs (kt) 1,144 1,235 1,263 1,469 1,164 1,164 1,144
Saraji (kt) 1,022 1,257 1,033 1,194 1,037 1,037 1,022
Gregory Joint Venture (kt) 808 994 607 885 707 707 808
Daunia (kt) 628 617 489 649 698 698 628
Caval Ridge (kt) 705 781 690 888 810 810 705
Total BMA (kt) 8,228 9,009 7,602 9,023 8,087 8,087 8,228
BHP Billiton Mitsui Coal (2)
South Walker Creek (kt) 1,391 1,236 1,282 1,384 1,511 1,511 1,391
Poitrel (kt) 813 892 775 986 836 836 813
Total BHP Billiton Mitsui 2,204 2,128 2,057 2,370 2,347 2,347 2,204
Coal (kt)
Total Queensland Coal (kt) 10,432 11,137 9,659 11,393 10,434 10,434 10,432
Sales
Coking coal (kt) 7,306 8,379 7,118 7,616 7,015 7,015 7,306
Weak coking coal (kt) 2,859 2,670 2,720 2,850 3,246 3,246 2,859
Thermal coal (kt) 43 171 182 375 86 86 43
Total (kt) 10,208 11,220 10,020 10,841 10,347 10,347 10,208
(1) Production figures include some thermal coal.
(2) Shown on a 100% basis. BHP Billiton interest in saleable production is 80%.
Haju, Indonesia (1)
Production (kt) - - - - 15 15 -
(1) Shown on 100% basis. BHP Billiton interest in saleable production is 75%.
New Mexico, USA
Production
Navajo Coal (1) (kt) 1,243 1,064 1,156 1,395 1,270 1,270 1,243
San Juan Coal (kt) 1,447 1,448 1,091 1,179 1,406 1,406 1,447
Total (kt) 2,690 2,512 2,247 2,574 2,676 2,676 2,690
Sales thermal coal - local
utility 2,723 2,592 2,177 2,539 2,671 2,671 2,723
(1) BHP Billiton completed the sale of Navajo Mine on 30 December 2013. As BHP Billiton will retain control of the mine until
full consideration is received, production will continue to be reported by the Group.
NSW Energy Coal, Australia
Production (kt) 4,752 4,608 5,252 5,086 4,644 4,644 4,752
Sales
Export thermal coal (kt) 4,787 4,625 4,897 4,550 4,130 4,130 4,787
Inland thermal coal (kt) 371 228 337 286 253 253 371
Total (kt) 5,158 4,853 5,234 4,836 4,383 4,383 5,158
Cerrejon, Colombia
Production (kt) 2,369 3,003 2,975 2,944 2,527 2,527 2,369
Sales thermal coal -
export (kt) 3,077 2,732 3,005 2,766 2,853 2,853 3,077
Other
Nickel production is reported on the basis of saleable product.
Nickel West, Australia
Production
Nickel contained in 2.2 1.7 1.9 1.5 0.7 0.7 2.2
concentrate (kt)
Nickel contained in finished 9.1 5.5 6.1 3.9 5.0 5.0 9.1
matte (kt)
Nickel metal (kt) 13.7 16.5 13.9 13.9 16.4 16.4 13.7
Total nickel production (kt) 25.0 23.7 21.9 19.3 22.1 22.1 25.0
Sales
Nickel contained in 2.1 1.6 2.0 1.6 0.7 0.7 2.1
concentrate (kt)
Nickel contained in finished 6.6 7.4 6.4 4.4 4.2 4.2 6.6
matte (kt)
Nickel metal (kt) 11.9 17.5 13.5 15.7 15.6 15.6 11.9
Total nickel sales (kt) 20.6 26.5 21.9 21.7 20.5 20.5 20.6
Date: 21/10/2015 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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