BHP GROUP PLC - BHP completes Shenzi Transaction

BHP completes Shenzi Transaction

BHP Group Plc
Registration number 3196209
Registered in England and Wales
Share code: BHP
ISIN: GB00BH0P3Z91



NEWS RELEASE
Release Time      IMMEDIATE
Date              6 November 2020
Release Number    20/20




BHP completes Shenzi Transaction

BHP today announced that it has completed the transaction to acquire an additional
28 per cent working interest in Shenzi from Hess Corporation (Hess), for US$505
million subject to the typical adjustment to reflect net cash generated from the 1 July
2020 transaction effective date to the close date of 6 November 2020.

The transaction brings BHP’s working interest to 72 per cent and adds approximately
11,000 barrels of oil equivalent per day of production (90 per cent oil) as of the
transaction closing date of 6 November 2020.

Total petroleum production guidance for the 2021 financial year of between 95 and
102 MMboe will be updated at the second quarter Operational Review (released 20
January 2021 AEST) to reflect the additional production from Shenzi and other
operational updates such as Gulf of Mexico hurricane impacts.

Shenzi is a six-lease development in the deepwater Gulf of Mexico and is structured
as a joint ownership: BHP (Operator, 72 per cent interest) and Repsol S.A. (28 per
cent interest).

Sponsor: UBS South Africa (Pty) Limited

Further information on BHP can be found at: bhp.com

Authorised for lodgement by:
Caroline Cox
Group General Counsel & Company Secretary



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Date: 06-11-2020 05:50:00
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