Wrap Text
Operational Review for the Nine Months Ended 31 March 2016
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Release Time IMMEDIATE
Date 20 April 2016
Number 10/16
BHP BILLITON OPERATIONAL REVIEW
FOR THE NINE MONTHS ENDED 31 MARCH 2016
• On track to deliver an average unit cost improvement of 14% across our major assets(1) as
productivity gains continue to be realised.
• Full year production guidance maintained for Petroleum, Copper and Coal.
• Guidance at Western Australia Iron Ore (WAIO) reduced by 10 Mt to approximately 260 Mt
(100% basis) as a result of adverse weather and the initiation of an accelerated rail network
maintenance program.
• In Petroleum, a US$640 million exploration program is now planned for the 2016 financial year
to fund additional access and testing of our future growth opportunities.
• Four major projects under development are tracking to plan. The Escondida Bioleach Pad
Extension project was completed as planned during the March 2016 quarter.
Production Mar 2016 vs Mar 2015
YTD YTD
Petroleum (MMboe) 184 (4%) Strong Conventional performance offset by deferral of
development activity in Onshore US for value.
Copper (Mt) 1.2 (8%) Increased throughput at Escondida and strong operating
performance across the business partially offset lower
grades at Escondida.
Iron ore (Mt) 171 (1%) Record WAIO volumes offset by the suspension of
operations at Samarco.
Metallurgical coal (Mt) 31 (1%) Record production at six Queensland Coal mines offset
by the planned closure of Crinum.
Energy coal (Mt) 27 (10%) Unfavourable weather conditions at NSWEC and
Cerrejón and divestment of the San Juan Mine.
BHP Billiton Chief Executive Officer, Andrew Mackenzie, said: “The productivity of our Company
continues to improve notwithstanding the disruption largely caused by adverse weather this quarter.
Over the last 12 months, we have taken a number of steps to strengthen BHP Billiton, including asset
sales and the deferral of investment for long-term value. While these measures will reduce our output
this year, they have increased our focus on our highest-quality operations and will support stronger
margins and returns.
“We have the potential to significantly grow the value of our Company. Our simpler organisational
structure will promote greater efficiency, rapid sharing of best practice and adoption of new technology to
deliver the next level of safe productivity. Debottlenecking our assets at very low cost will generate high
returns and substantial value. We have a pipeline of projects in copper and oil that allow us to bring high-
margin volumes to market when the time is right. And as others cut back on exploration, our investment
will go further and help create new options for the future.”
Summary
Operational performance
Production for the nine months and quarter ended March 2016 and guidance for the 2016 financial year
are summarised in the table below.
Mar Mar Mar YTD16 Mar Q16 Mar Q16 Previous Current
2016 2016 vs vs vs FY16 FY16
Production YTD Qtr Mar YTD15 Mar Q15 Dec Q15 guidance guidance
Petroleum (MMboe) 184.1 59.4 (4%) (3%) (1%) 237 237
Onshore US (MMboe) 85.8 27.4 (9%) (16%) (4%) 109 109
Conventional (MMboe) 98.4 32.0 0% 10% 1% 128 128
Copper (Mt) 1.2 0.4 (8%) (12%) 5% 1.5 1.5
Escondida (kt) 711 260 (20%) (23%) 18% 940 940
Other copper(i) (kt) 455 145 19% 19% (11%) - -
Iron ore (Mt) 171 53 (1%) (10%) (7%) 237 229
WAIO (100% basis) (Mt) 193 61 2% (5%) (4%) 270 260
Metallurgical coal (Mt) 31 10 (1%) 4% (4%) 40 40
Energy coal (Mt) 27 8 (10%) (24%) (17%) 37 37
(i) Other copper comprises Pampa Norte, Olympic Dam and Antamina.
Major development projects
At the end of the March 2016 quarter, BHP Billiton had four major projects under development in
Petroleum, Copper and Potash, with a combined budget of US$6.9 billion over the life of the projects.
Corporate update
On 2 March 2016, Samarco Mineração S.A and its two shareholders, Vale S.A and BHP Billiton Brasil
LTDA, entered into an agreement with the Federal Attorney General of Brazil, the States of Espírito
Santo and Minas Gerais and certain other public authorities for the restoration of the environment and
communities affected by the Samarco dam failure on 5 November 2015. The Agreement provides a
long-term remedial and compensation framework for responding to the impact of the Samarco tragedy.
Petroleum
Production
Mar Mar Mar YTD16 Mar Q16 Mar Q16
2016 2016 vs vs vs
YTD Qtr Mar YTD15 Mar Q15 Dec Q15
Crude oil, condensate and natural gas liquids 89.7 29.2 (4%) (7%) (2%)
(MMboe)
Natural gas (bcf) 567.0 181.4 (5%) 0% (1%)
Total petroleum production (MMboe) 184.1 59.4 (4%) (3%) (1%)
Total petroleum production – Total petroleum production for the nine months ended March 2016
decreased by four per cent to 184.1 MMboe. Guidance for the 2016 financial year remains unchanged at
237 MMboe as the strong performance by our Conventional business offset the reduction in Onshore US
activity and the divestment of our gas business in Pakistan.
Crude oil, condensate and natural gas liquids – Crude oil, condensate and natural gas liquids
production for the nine months ended March 2016 decreased by four per cent to 89.7 MMboe.
Onshore US liquids volumes declined by four per cent to 38.7 MMboe as unchanged total liquids
production from the Black Hawk and Permian was offset by the suspension of drilling activity in the
Hawkville. Liquids production at Onshore US for the 2016 financial year is expected to decline 12 per
cent as a result of reduced development activity in the Black Hawk and Hawkville.
In our Conventional business, a four per cent reduction in liquids production reflects natural field decline
across the portfolio and industrial action at Bass Strait, which more than offset volumes from new
production wells at Atlantis, Mad Dog and Pyrenees.
Natural gas – Natural gas production for the nine months ended March 2016 declined by five per cent to
567 bcf.
The decline primarily reflects lower Onshore US gas volumes as a result of the decision to defer
development activity for longer-term value and the successful divestment of our gas business in
Pakistan. This was partially offset by higher seasonal demand at Bass Strait and Macedon.
Projects
Capital Initial
Project and expenditure production
ownership (US$m) target date Capacity Progress
Bass Strait 520 CY16 Designed to process On schedule and budget. The
Longford Gas approximately 400 MMcf/d of overall project is 89%
Conditioning high-CO2 gas. complete.
Plant
(Australia)
50% (non-
operator)
North West Shelf 314 CY19 To maintain LNG plant On schedule and budget. The
Greater Western throughput from the North overall project is 10%
Flank-B West Shelf operations. complete.
(Australia)
16.67% (non-
operator)
Petroleum capital expenditure of approximately US$2.7 billion is planned for the 2016 financial year. This
includes Conventional capital expenditure of US$1.4 billion, which remains focused on high-return infill
drilling opportunities in the Gulf of Mexico and life extension projects at Bass Strait and North West
Shelf, and Onshore US capital expenditure of US$1.3 billion, of which approximately US$300 million
relates to a reduction in capital creditors.
Onshore US development activity
Onshore US drilling and development expenditure for the nine months ended March 2016 was
approximately US$1.1 billion, a 63 per cent decline relative to the nine months ended March 2015. Our
operated rig count declined from seven to five in the March 2016 quarter as planned. In addition,
completions activity in the Black Hawk has been temporarily halted as we continue to defer development
activity to preserve value. The resulting inventory of drilled but uncompleted wells will effectively position
us to quickly respond to improved market conditions.
We have continued confidence in the quality of our Onshore US acreage, and our track record in
operating performance and capital productivity is among the best in the industry. While we are focused
on value and cash flow preservation as we manage through this period of lower prices, we retain the
option to develop our resources as prices recover to maximise the value of these quality assets.
March 2016 YTD Liquids focused areas Gas focused areas
(March 2015 YTD) Eagle Ford Permian Haynesville Fayetteville Total
Capital expenditure(i) US$ billion 0.7 (1.9) 0.3 (0.6) 0.0 (0.3) 0.0 (0.2) 1.1 (3.0)
Rig allocation At period end 3 (12) 2 (4) 0 (1) 0 (0) 5 (17)
Net wells drilled and Period total 88 (153) 25 (32) 5 (18) 10 (36) 128 (239)
completed(ii)
Net productive wells At period end 926 (796) 100 (63) 411 (388) 1,086 (1,028) 2,523 (2,275)
(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.
Petroleum exploration
Exploration and appraisal wells drilled during the March 2016 quarter are summarised below.
Well Location Target BHP Billiton Spud date Water depth Total well Status
equity depth
Shenzi Gulf of Oil 72% 24 October 2015 1,309 m 9,577 m Hydrocarbons
North-ST3 Mexico (operator) encountered;
GC609 Plugged and
abandoned
Our Petroleum exploration program is focused in the deepwater Gulf of Mexico, the Caribbean and the
Beagle sub-basin off the coast of Western Australia where we are pursuing Tier 1 oil plays. In March
2016, BHP Billiton was the apparent high bidder on four blocks in the Central Gulf of Mexico Lease Sale
241. The award of the blocks remain subject to regulatory approval.
Petroleum exploration expenditure for the nine months ended March 2016 was US$390 million, of which
US$177 million was expensed. A US$640 million exploration program is now planned for the 2016
financial year to fund additional access and testing of our future growth opportunities.
Copper
Production
Mar Mar Mar YTD16 Mar Q16 Mar Q16
2016 2016 vs vs vs
YTD Qtr Mar YTD15 Mar Q15 Dec Q15
Copper (kt) 1,167 405 (8%) (12%) 5%
Zinc (t) 48,964 11,913 (3%) (12%) (28%)
Silver (troy koz) 9,525 3,469 39% 45% 21%
Uranium oxide concentrate (t) 3,508 961 38% 58% (31%)
Copper – Total copper production for the nine months ended March 2016 decreased by eight per cent to
1.2 Mt as continued 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 nine months ended March 2016 decreased by 20 per cent to 711 kt,
despite an 18 per cent increase during the March 2016 quarter. Strong operating performance, including
improvements in truck availability, utilisation and maintenance, and record material mined, was more
than offset by a 28 per cent decline in grade. Production increased by 18 per cent from the December
2015 quarter as higher concentrator throughput was achieved as a result of improved water availability.
The Escondida Bioleach Pad Extension project, which includes the expansion of the leach pad to four
layers, was completed as planned during the March 2016 quarter.
Production guidance for Escondida remains unchanged at approximately 940 kt for the 2016 financial
year as the ramp up of Organic Growth Project 1 progresses ahead of plan and is expected to reach full
capacity in the June 2016 quarter. The Los Colorados concentrator was placed on care and
maintenance in the March 2016 quarter. In the medium term, completion of the Escondida Water Supply
project and the potential life extension of Los Colorados will enable the utilisation of three
concentrators(2).
Pampa Norte copper production for the nine months ended March 2016 decreased by three per cent to
186 kt as record ore milled at Spence and Cerro Colorado, and higher grades at Spence, were offset by
the impact of planned maintenance at Spence and industrial action at Cerro Colorado in the March 2016
quarter. Production at Pampa Norte for the 2016 financial year is expected to be ahead of the prior year.
In the short to medium term, the Spence Recovery Optimisation project will enable the full utilisation of
approximately 200 ktpa of tankhouse capacity. The Spence Growth Option remains in feasibility with the
potential to extend mining operations by more than 50 years and increase copper capacity by
approximately 200 ktpa.
Olympic Dam copper production for the nine months ended March 2016 increased by 46 per cent to a
record 162 kt and reflects improved smelter and mill utilisation, and the Svedala mill outage in the prior
period. Copper production decreased by 13 per cent from the December 2015 quarter following planned
mill maintenance. Olympic Dam copper production remains on track to exceed 200 kt for the 2016
financial year with planned smelter maintenance scheduled for the June 2016 quarter.
Antamina copper production for the nine months ended March 2016 increased by 35 per cent to 108 kt
as higher grades and recoveries, supported by record material mined and milled, more than offset the
impact of planned maintenance in the March 2016 quarter. Antamina copper production of 136 kt is
forecast for the 2016 financial year.
Project
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 86% complete.
(Chile) supply to Escondida.
57.5%
Iron Ore
Production
Mar Mar Mar YTD16 Mar Q16 Mar Q16
2016 2016 vs vs vs
YTD Qtr Mar YTD15 Mar Q15 Dec Q15
Iron ore (kt) 171,332 53,057 (1%) (10%) (7%)
Iron ore – Total iron ore production for the nine months ended March 2016 was broadly unchanged at
171 Mt. Production for the 2016 financial year is now expected to be approximately 229 Mt, three per
cent below prior guidance, and reflects a reduction in guidance at WAIO.
WAIO production for the nine months ended March 2016 increased by two per cent to a record 193 Mt
(100 per cent basis) and reflected the Jimblebar mining hub operating at full capacity and improved ore
handling plant utilisation at Newman. This was partially offset by one-off operational issues in the
December 2015 quarter, along with the impact of adverse weather conditions and the initiation of an
accelerated rail network maintenance program in the March 2016 quarter. WAIO production of
approximately 260 Mt is now anticipated for the 2016 financial year, four per cent below prior guidance,
however unit cost guidance remains unchanged at US$15 per tonne(3).
Our WAIO business remains focused on productivity in our integrated supply chain and this is further
supported by the 24 month rail renewal and maintenance program that has been initiated. These
improvements in our supply chain along with the ramp-up of additional capacity at the Jimblebar mining
hub, will deliver an increase in system capacity to 290 Mtpa over time.
Samarco production for the nine months ended March 2016 was 11 Mt (100 per cent basis). Mining and
processing operations at Samarco remain suspended following the failure of the Fundão tailings dam
and Santarém water dam on 5 November 2015. Sales from the final shipment of pellets from stockpiles
will be settled in the June 2016 quarter.
Coal
Production
Mar Mar Mar YTD16 Mar Q16 Mar Q16
2016 2016 vs vs vs
YTD Qtr Mar YTD15 Mar Q15 Dec Q15
Metallurgical coal (kt) 31,010 10,076 (1%) 4% (4%)
Energy coal (kt) 27,295 7,911 (10%) (24%) (17%)
Metallurgical coal – Metallurgical coal production for the nine months ended March 2016 remained
broadly in line at 31 Mt. Guidance for the 2016 financial year remains unchanged at 40 Mt.
Queensland Coal production was flat as record production at six mines, underpinned by increased plant
and equipment utilisation, offset the completion of longwall mining at Crinum which is now under care
and maintenance, a convergence event at the Broadmeadow mine and unfavourable weather conditions.
First shipment from the Haju mine in Indonesia was achieved during the March 2016 quarter. BHP
Billiton is conducting a strategic review of the long-term future options for its Indonesian coal interests,
IndoMet Coal, which comprises seven coal contracts of work within the provinces of Central and East
Kalimantan.
Energy coal – Energy coal production for the nine months ended March 2016 decreased by 10 per cent
to 27 Mt. Guidance for the 2016 financial year remains unchanged at 37 Mt.
New South Wales Energy Coal production for the nine months ended March 2016 declined by 10 per
cent due to the impact of heavy rainfall, blasting constraints and the progression of the mine plan
through a higher strip ratio zone. Cerrejón volumes declined by seven per cent as drought conditions
continued to constrain production.
Navajo Coal production for the nine months ended March 2016 was broadly unchanged, despite a 51
per cent decline during the March 2016 quarter reflecting lower customer demand. The transfer of
management and operatorship for Navajo Coal to Navajo Transitional Energy Company remains on
track for 31 December 2016. The sale of the San Juan Mine to Westmoreland Coal Company was
completed on 31 January 2016.
Other
Nickel production
Mar Mar Mar YTD16 Mar Q16 Mar Q16
2016 2016 vs vs vs
YTD Qtr Mar YTD15 Mar Q15 Dec Q15
Nickel (kt) 57.3 20.0 (19%) (9%) 32%
Nickel – Nickel West production for the nine months ended March 2016 decreased by 19 per cent to 57
kt and reflected planned major maintenance outages at the Kalgoorlie smelter and Kwinana refinery
during the December 2015 quarter, and a reduction in third party ore delivered to the Kambalda
concentrator. Higher nickel metal production during the March 2016 quarter was underpinned by
throughput improvements at the Kwinana refinery.
Potash project
Investment
Project and ownership (US$m) Scope Progress
Jansen Potash 2,600 Investment to finish the excavation The project is 58% complete and
(Canada) and lining of the production and within the approved budget. Shaft
100% service shafts, and to continue the excavation is progressing.
installation of essential surface
infrastructure and utilities.
Minerals exploration
Minerals exploration expenditure for the nine months ended March 2016 was US$126 million, of which
US$109 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 nine
months ended March 2016 compared with the nine months ended March 2015, 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) Represents the average reduction in 2016 financial year guidance for Escondida grade-adjusted,
Western Australia Iron Ore and Queensland Coal unit costs relative to the 2015 financial year.
(2) Subject to Escondida Owners Council approval.
(3) WAIO unit cash cost excludes freight and royalties. 2016 financial year guidance is based on an
exchange rate of AUD/USD 0.72.
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).
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PRODUCTION SUMMARY
QUARTER ENDED YEAR TO DATE
BHP Billiton MAR JUN SEP DEC MAR MAR MAR
interest 2015 2015 2015 2015 2016 2016 2015
Petroleum (1)
Petroleum
Crude oil, condensate and NGL
(Mboe)
Onshore US 15,848 15,413 13,453 12,805 12,454 38,712 40,213
Conventional 15,450 15,759 17,259 16,976 16,727 50,962 53,193
Total 31,298 31,172 30,712 29,781 29,181 89,674 93,406
Natural gas (bcf)
Onshore US 99.9 96.4 98.2 94.4 89.9 282.5 323.8
Conventional 81.6 95.4 104.6 88.4 91.5 284.5 271.0
Total 181.5 191.8 202.8 182.8 181.4 567.0 594.8
Total petroleum production
(MMboe) 61.5 63.2 64.5 60.2 59.4 184.1 192.5
Copper (2)
Copper
Payable metal in concentrate (kt)
Escondida (3) 57.5% 260.9 247.0 159.6 131.7 174.9 466.2 669.1
Antamina 33.8% 26.7 28.0 35.1 37.2 35.4 107.7 79.7
Total 287.6 275.0 194.7 168.9 210.3 573.9 748.8
Cathode (kt)
Escondida (3) 57.5% 77.3 88.8 70.9 89.3 84.8 245.0 221.6
Pampa Norte (4) 100% 66.5 57.7 56.8 69.0 59.8 185.6 191.9
Olympic Dam 100% 28.6 13.7 54.9 57.4 49.8 162.1 110.8
Total 172.4 160.2 182.6 215.7 194.4 592.7 524.3
Total Copper 460.0 435.2 377.3 384.6 404.7 1,166.6 1,273.1
Lead
Payable metal in concentrate (t)
Antamina 33.8% 493 448 857 1,024 1,193 3,074 1,612
Total 493 448 857 1,024 1,193 3,074 1,612
Zinc
Payable metal in concentrate (t)
Antamina 33.8% 13,571 15,857 20,597 16,454 11,913 48,964 50,578
Total 13,571 15,857 20,597 16,454 11,913 48,964 50,578
Gold
Payable metal in concentrate (troy oz)
Escondida (3) 57.5% 21,265 25,554 23,805 17,889 31,408 73,102 55,955
Olympic Dam (refined gold) 100% 26,441 9,438 29,349 39,299 29,028 97,676 95,342
Total 47,706 34,992 53,154 57,188 60,436 170,778 151,297
Silver
Payable metal in concentrate (troy koz)
Escondida (3) 57.5% 1,355 1,314 1,181 962 1,544 3,687 3,472
Antamina 33.8% 872 1,115 1,766 1,636 1,751 5,153 2,711
Olympic Dam (refined silver) 100% 172 55 246 265 174 685 669
Total 2,399 2,484 3,193 2,863 3,469 9,525 6,852
Uranium
Payable metal in concentrate (t)
Olympic Dam 100% 607 595 1,161 1,386 961 3,508 2,549
Total 607 595 1,161 1,386 961 3,508 2,549
Molybdenum
Payable metal in concentrate (t)
Antamina 33.8% 151 206 92 232 227 551 266
Total 151 206 92 232 227 551 266
Iron Ore
Iron Ore
Production (kt) (5)
Newman 85% 14,916 16,062 18,006 17,003 15,817 50,826 47,635
Area C Joint Venture 85% 13,201 12,214 12,163 11,723 11,002 34,888 37,780
Yandi Joint Venture 85% 16,798 17,452 16,886 15,960 16,204 49,050 51,099
Jimblebar (6) 85% 4,513 5,462 3,262 4,852 5,472 13,586 11,297
Wheelarra 85% 5,965 5,159 7,259 5,757 4,562 17,578 13,835
Samarco 50% 3,586 3,737 3,739 1,665 - 5,404 10,776
Total 58,979 60,086 61,315 56,960 53,057 171,332 172,422
Coal
Metallurgical coal
Production (kt) (7)
BMA 50% 7,602 9,023 8,087 8,207 7,894 24,188 24,839
BHP Billiton Mitsui Coal (8) 80% 2,057 2,370 2,347 2,191 2,015 6,553 6,389
Haju (9) 75% - - 15 87 167 269 -
Total 9,659 11,393 10,449 10,485 10,076 31,010 31,228
Energy Coal
Production (kt)
USA 100% 2,247 2,574 2,676 2,632 1,112 6,420 7,449
Australia 100% 5,252 5,086 4,644 4,277 4,189 13,110 14,612
Colombia 33.3% 2,975 2,944 2,527 2,628 2,610 7,765 8,347
Total 10,474 10,604 9,847 9,537 7,911 27,295 30,408
Other
Nickel
Saleable production (kt)
Nickel West 100% 21.9 19.3 22.1 15.2 20.0 57.3 70.6
Total 21.9 19.3 22.1 15.2 20.0 57.3 70.6
(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
MAR JUN SEP DEC MAR MAR MAR
2015 2015 2015 2015 2016 2016 2015
Petroleum (1)
Bass Strait
Crude oil and condensate (Mboe) 1,156 1,707 1,877 1,390 1,813 5,080 6,258
NGL (Mboe) 961 1,548 2,091 1,307 1,455 4,853 4,634
Natural gas (bcf) 18.3 31.9 38.7 23.9 30.3 92.9 70.4
Total petroleum products (MMboe) 5.2 8.6 10.4 6.7 8.3 25.4 22.6
North West Shelf
Crude oil and condensate (Mboe) 1,355 1,215 1,362 1,423 1,124 3,909 4,251
NGL (Mboe) 268 198 227 235 259 721 834
Natural gas (bcf) 32.8 29.9 33.9 34.9 33.8 102.6 103.1
Total petroleum products (MMboe) 7.1 6.4 7.2 7.5 7.0 21.7 22.3
Stybarrow (2)
Crude oil and condensate (Mboe) 194 93 (8) - - (8) 667
Total petroleum products (MMboe) 0.2 0.1 (0.0) - - (0.0) 0.7
Pyrenees
Crude oil and condensate (Mboe) 1,709 1,435 2,096 2,331 2,093 6,520 5,719
Total petroleum products (MMboe) 1.7 1.4 2.1 2.3 2.1 6.5 5.7
Other Australia (3)
Crude oil and condensate (Mboe) 11 13 13 9 8 30 39
Natural gas (bcf) 14.1 16.0 16.6 14.4 16.2 47.2 43.5
Total petroleum products (MMboe) 2.4 2.7 2.8 2.4 2.7 7.9 7.3
Atlantis (4)
Crude oil and condensate (Mboe) 3,645 3,110 3,637 4,257 4,056 11,950 11,560
NGL (Mboe) 245 209 231 278 270 779 787
Natural gas (bcf) 1.7 1.7 1.6 2.0 1.9 5.5 5.7
Total petroleum products (MMboe) 4.2 3.6 4.1 4.9 4.6 13.6 13.3
Mad Dog (4)
Crude oil and condensate (Mboe) 720 651 588 648 880 2,116 1,987
NGL (Mboe) 37 20 23 41 41 105 100
Natural gas (bcf) 0.1 0.1 0.1 0.1 0.1 0.3 0.3
Total petroleum products (MMboe) 0.8 0.7 0.6 0.7 0.9 2.3 2.1
Shenzi (4)
Crude oil and condensate (Mboe) 3,283 3,369 3,277 3,185 3,094 9,556 10,315
NGL (Mboe) 235 174 236 269 206 711 766
Natural gas (bcf) 0.7 0.7 0.7 0.8 0.6 2.1 2.3
Total petroleum products (MMboe) 3.6 3.7 3.6 3.6 3.4 10.6 11.5
Eagle Ford (5)
Crude oil and condensate (Mboe) 10,837 9,363 7,700 7,156 7,018 21,874 25,995
NGL (Mboe) 3,868 4,183 3,799 3,806 3,649 11,254 10,927
Natural gas (bcf) 27.7 26.1 25.8 25.4 25.1 76.3 82.5
Total petroleum products (MMboe) 19.3 17.9 15.8 15.2 14.9 45.8 50.7
Permian (5)
Crude oil and condensate (Mboe) 856 1,447 1,481 1,354 1,499 4,334 2,264
NGL (Mboe) 287 420 473 488 288 1,249 1,007
Natural gas (bcf) 2.1 3.0 3.9 3.4 2.4 9.7 7.9
Total petroleum products (MMboe) 1.5 2.4 2.6 2.4 2.2 7.2 4.6
Haynesville (5) (6)
Crude oil and condensate (Mboe) - - - 1 - 1 20
Natural gas (bcf) 37.8 35.4 36.4 34.7 34.4 105.5 127.1
Total petroleum products (MMboe) 6.3 5.9 6.1 5.8 5.7 17.6 21.2
Fayetteville (5)
Natural gas (bcf) 32.3 31.9 32.1 30.9 28.0 91.0 106.3
Total petroleum products (MMboe) 5.4 5.3 5.4 5.2 4.7 15.2 17.7
Trinidad/Tobago
Crude oil and condensate (Mboe) 196 562 242 185 120 547 675
Natural gas (bcf) 7.2 9.1 7.6 7.4 7.4 22.4 23.8
Total petroleum products (MMboe) 1.4 2.1 1.5 1.4 1.4 4.3 4.6
Other Americas (4) (7)
Crude oil and condensate (Mboe) 348 348 361 360 334 1,055 1,197
NGL (Mboe) 14 11 12 16 12 40 77
Natural gas (bcf) 0.2 0.1 0.2 0.2 0.2 0.6 0.6
Total petroleum products (MMboe) 0.4 0.4 0.4 0.4 0.4 1.2 1.4
UK
Crude oil and condensate (Mboe) 64 76 59 74 65 198 175
NGL (Mboe) 7 83 (4) 27 10 33 18
Natural gas (bcf) 1.1 1.0 1.0 1.0 1.0 3.0 3.2
Total petroleum products (MMboe) 0.3 0.3 0.2 0.3 0.2 0.7 0.7
Algeria
Crude oil and condensate (Mboe) 975 912 916 922 887 2,725 3,036
Total petroleum products (MMboe) 1.0 0.9 0.9 0.9 0.9 2.7 3.0
Pakistan (8)
Crude oil and condensate (Mboe) 27 25 23 19 - 42 98
Natural gas (bcf) 5.4 4.9 4.2 3.7 - 7.9 18.1
Total petroleum products (MMboe) 0.9 0.8 0.7 0.6 - 1.4 3.1
Total petroleum products
Crude oil and condensate
Onshore US (Mboe) 11,693 10,810 9,181 8,511 8,517 26,209 28,279
Conventional (Mboe) 13,683 13,516 14,443 14,803 14,474 43,720 45,977
Total (Mboe) 25,376 24,326 23,624 23,314 22,991 69,929 74,256
NGL
Onshore US (Mboe) 4,155 4,603 4,272 4,294 3,937 12,503 11,934
Conventional (Mboe) 1,767 2,243 2,816 2,173 2,253 7,242 7,216
Total (Mboe) 5,922 6,846 7,088 6,467 6,190 19,745 19,150
Natural Gas
Onshore US (bcf) 99.9 96.4 98.2 94.4 89.9 282.5 323.8
Conventional (bcf) 81.6 95.4 104.6 88.4 91.5 284.5 271.0
Total (bcf) 181.5 191.8 202.8 182.8 181.4 567.0 594.8
(1) Total boe conversions are based on 6 bcf of natural gas equals 1 MMboe. Negative production figures
represent finalisation adjustments.
(2) Stybarrow ceased production on 26 June 2015.
(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.
(7) Other Americas includes Neptune, Genesis and Overriding Royalty Interest.
(8) BHP Billiton completed the sale of the Pakistan gas business on 16 February 2015.
Copper
Metals production is payable metal unless otherwise stated.
Escondida, Chile (1)
Material mined (kt) 91,139 96,337 110,067 109,200 105,970 325,237 288,363
Sulphide ore milled (kt) 21,382 22,909 22,820 18,076 21,188 62,084 60,387
Average copper grade (%) 1.49% 1.32% 1.00% 0.99% 0.99% 0.99% 1.38%
Production ex mill (kt) 266.3 249.6 169.7 142.8 175.8 488.3 687.3
Production
Payable copper (kt) 260.9 247.0 159.6 131.7 174.9 466.2 669.1
Copper cathode (EW) (kt) 77.3 88.8 70.9 89.3 84.8 245.0 221.6
Payable gold
concentrate (troy oz) 21,265 25,554 23,805 17,889 31,408 73,102 55,955
Payable silver
concentrate (troy koz) 1,355 1,314 1,181 962 1,544 3,687 3,472
Sales
Payable copper (kt) 269.6 243.0 157.6 123.8 181.7 463.1 676.1
Copper cathode (EW) (kt) 64.9 101.4 63.8 101.1 80.3 245.2 208.8
Payable gold
concentrate (troy oz) 21,265 25,554 23,805 17,889 31,408 73,102 55,955
Payable silver
concentrate (troy koz) 1,355 1,314 1,181 962 1,544 3,687 3,473
(1) Shown on a 100% basis. BHP Billiton interest in saleable production is 57.5%.
Pampa Norte, Chile
Cerro Colorado
Material mined (kt) 15,030 14,211 13,870 14,930 12,415 41,215 46,671
Ore milled (kt) 4,501 4,798 4,703 4,856 4,012 13,571 13,136
Average copper grade (%) 0.68% 0.70% 0.64% 0.82% 0.84% 0.76% 0.72%
Production
Copper cathode (EW) (kt) 21.5 20.4 13.7 18.8 20.0 52.5 57.8
Sales
Copper cathode (EW) (kt) 22.0 20.8 13.0 19.7 18.6 51.3 63.0
Spence
Material mined (kt) 21,429 21,062 22,922 21,593 22,549 67,064 69,089
Ore milled (kt) 3,783 4,082 4,919 5,146 4,355 14,420 12,752
Average copper grade (%) 1.06% 1.24% 1.41% 1.30% 1.39% 1.36% 1.20%
Production
Copper cathode (EW) (kt) 45.0 37.3 43.1 50.2 39.8 133.1 134.1
Sales
Copper cathode (EW) (kt) 45.0 40.6 38.2 56.1 38.4 132.7 133.7
Antamina, Peru
Material mined (100%) (kt) 49,787 56,944 56,793 52,130 55,183 164,106 148,255
Sulphide ore milled
(100%) (kt) 12,880 14,831 14,300 14,184 12,414 40,898 38,844
Average head grades
- Copper (%) 0.79% 0.74% 0.88% 0.92% 1.02% 0.94% 0.78%
- Zinc (%) 0.69% 0.56% 0.79% 0.55% 0.54% 0.63% 0.73%
Production
Payable copper (kt) 26.7 28.0 35.1 37.2 35.4 107.7 79.7
Payable zinc (t) 13,571 15,857 20,597 16,454 11,913 48,964 50,578
Payable silver (troy koz) 872 1,115 1,766 1,636 1,751 5,153 2,711
Payable lead (t) 493 448 857 1,024 1,193 3,074 1,612
Payable molybdenum (t) 151 206 92 232 227 551 266
Sales
Payable copper (kt) 26.5 26.3 30.8 42.9 29.3 103.0 82.6
Payable zinc (t) 15,545 13,645 18,747 20,423 12,097 51,267 49,916
Payable silver (troy koz) 915 911 1,522 2,048 1,331 4,901 2,837
Payable lead (t) 461 624 266 1,056 1,073 2,395 1,492
Payable molybdenum (t) 163 157 156 138 178 472 303
Olympic Dam, Australia
Material mined (1) (kt) 2,186 1,773 2,357 2,372 2,210 6,939 7,545
Ore milled (kt) 1,477 1,469 2,727 2,767 2,174 7,668 6,459
Average copper grade (%) 1.88% 1.97% 1.64% 2.22% 2.01% 1.95% 1.83%
Average uranium grade (kg/t) 0.56 0.62 0.60 0.62 0.61 0.61 0.56
Production
Copper cathode (ER
and EW) (kt) 28.6 13.7 54.9 57.4 49.8 162.1 110.8
Uranium oxide
concentrate (t) 607 595 1,161 1,386 961 3,508 2,549
Refined gold (troy oz) 26,441 9,438 29,349 39,299 29,028 97,676 95,342
Refined silver (troy koz) 172 55 246 265 174 685 669
Sales
Copper cathode (ER
and EW) (kt) 30.7 14.5 52.5 57.3 49.4 159.2 112.8
Uranium oxide
concentrate (t) 877 818 677 1,013 1,261 2,951 2,850
Refined gold (troy oz) 31,938 9,064 25,598 39,168 32,052 96,818 97,583
Refined silver (troy koz) 206 61 213 265 198 676 671
(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) 14,916 16,062 18,006 17,003 15,817 50,826 47,635
Area C Joint Venture (kt) 13,201 12,214 12,163 11,723 11,002 34,888 37,780
Yandi Joint Venture (kt) 16,798 17,452 16,886 15,960 16,204 49,050 51,099
Jimblebar (1) (kt) 4,513 5,462 3,262 4,852 5,472 13,586 11,297
Wheelarra (kt) 5,965 5,159 7,259 5,757 4,562 17,578 13,835
Total production (kt) 55,393 56,349 57,576 55,295 53,057 165,928 161,646
Total production (100%) (kt) 64,372 65,330 67,161 64,197 61,454 192,812 188,179
Sales
Lump (kt) 12,617 13,234 14,003 13,886 13,380 41,269 38,044
Fines (kt) 42,635 43,430 43,587 40,917 40,078 124,582 125,453
Total (kt) 55,252 56,664 57,590 54,803 53,458 165,851 163,497
Total sales (100%) (kt) 64,201 65,703 67,177 63,625 61,927 192,729 190,352
(1) Shown on a 100% basis. BHP Billiton interest in saleable production is 85%.
Samarco, Brazil (1)
Production (kt) 3,586 3,737 3,739 1,665 - 5,404 10,776
Sales (kt) 2,876 3,627 3,531 2,425 224 6,180 10,330
(1) Mining and processing operations remain suspended following the failure of the Fundão tailings dam and Santarém water
dam on 5 November 2015.
Coal
Coal production is reported on the basis of saleable product.
Queensland Coal
Production (1)
BMA
Blackwater (kt) 1,569 1,873 1,803 1,861 1,756 5,420 5,121
Goonyella (kt) 1,951 2,065 1,868 1,941 2,478 6,287 6,445
Peak Downs (kt) 1,263 1,469 1,164 1,323 1,159 3,646 3,642
Saraji (kt) 1,033 1,194 1,037 1,000 1,046 3,083 3,312
Gregory Joint Venture (2) (kt) 607 885 707 609 13 1,329 2,409
Daunia (kt) 489 649 698 616 626 1,940 1,734
Caval Ridge (kt) 690 888 810 857 816 2,483 2,176
Total BMA (kt) 7,602 9,023 8,087 8,207 7,894 24,188 24,839
BHP Billiton Mitsui Coal (3)
South Walker Creek (kt) 1,282 1,384 1,511 1,275 1,268 4,054 3,909
Poitrel (kt) 775 986 836 916 747 2,499 2,480
Total BHP Billiton Mitsui
Coal (kt) 2,057 2,370 2,347 2,191 2,015 6,553 6,389
Total Queensland Coal (kt) 9,659 11,393 10,434 10,398 9,909 30,741 31,228
Sales
Coking coal (kt) 7,118 7,616 7,015 7,642 7,348 22,005 22,803
Weak coking coal (kt) 2,720 2,850 3,246 2,695 2,681 8,622 8,249
Thermal coal (kt) 182 375 86 290 241 617 396
Total (kt) 10,020 10,841 10,347 10,627 10,270 31,244 31,448
(1) Production figures include some thermal coal.
(2) Longwall mining at Crinum completed during the December 2015 quarter.
(3) Shown on a 100% basis. BHP Billiton interest in saleable production is 80%.
Haju, Indonesia (1)
Production (kt) - - 15 87 167 269 -
Sales - export (kt) - - - - 148 148 -
(1) Shown on 100% basis. BHP Billiton interest in saleable production is 75%.
New Mexico, USA
Production
Navajo Coal (1) (kt) 1,156 1,395 1,270 1,403 694 3,367 3,463
San Juan Coal (2) (kt) 1,091 1,179 1,406 1,229 418 3,053 3,986
Total (kt) 2,247 2,574 2,676 2,632 1,112 6,420 7,449
Sales thermal coal - local
utility 2,177 2,539 2,671 2,661 1,106 6,438 7,492
(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.
(2) BHP Billiton completed the sale of San Juan Mine on 31 January 2016.
NSW Energy Coal, Australia
Production (kt) 5,252 5,086 4,644 4,277 4,189 13,110 14,612
Sale
Export thermal coal (kt) 4,897 4,550 4,130 5,081 3,410 12,621 14,309
Inland thermal coal (kt) 337 286 253 229 234 716 936
Total (kt) 5,234 4,836 4,383 5,310 3,644 13,337 15,245
Cerrejon, Colombia
Production (kt) 2,975 2,944 2,527 2,628 2,610 7,765 8,347
Sales thermal coal -
export (kt) 3,005 2,766 2,853 2,565 2,339 7,757 8,814
Other
Nickel production is reported on the basis of saleable product.
Nickel West, Australia
Production
Nickel contained in
concentrate (kt) 1.9 1.5 0.7 0.2 0.3 1.2 5.8
Nickel contained in finished
matte (kt) 6.1 3.9 5.0 2.6 2.8 10.4 20.7
Nickel metal (kt) 13.9 13.9 16.4 12.4 16.9 45.7 44.1
Total nickel production (kt) 21.9 19.3 22.1 15.2 20.0 57.3 70.6
Sales
Nickel contained in
concentrate (kt) 2.0 1.6 0.7 0.2 0.3 1.2 5.7
Nickel contained in finished
matte (kt) 6.4 4.4 4.2 3.7 2.7 10.6 20.4
Nickel metal (kt) 13.5 15.7 15.6 12.1 17.8 45.5 42.9
Total nickel sales (kt) 21.9 21.7 20.5 16.0 20.8 57.3 69.0
Date: 20/04/2016 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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