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Company BHP Group PLC
TIDM BHP
Headline Operational Review nine months ended 31 March 2019
Released 07:00 17-Apr-2019
Number 4161W07

RNS Number : 4161W
BHP Group PLC
16 April 2019
 

Release Time

IMMEDIATE

Date

17 April 2019

Release Number

09/19

BHP OPERATIONAL REVIEW
FOR THE NINE MONTHS ENDED 31 MARCH 2019

 

Production

 

Mar YTD19
(vs Mar YTD18)

 

Mar Q19
(vs Dec Q18)

 

Mar Q19 commentary

 

Petroleum (MMboe) (1)

92
(0%)

29
(-5%)

Lower seasonal gas sales at Bass Strait partially offset by higher Trinidad and Tobago volumes following maintenance in the previous quarter.

Copper (kt)

1,245
(-3%)

420
(+1%)

Increased production from Olympic Dam as surface operations returned to full capacity following acid plant outage in August 2018, offset by impact of expected lower copper grades at Escondida.

Iron ore (Mt)

175
(0%)

56
(-3%)

Volumes at Western Australia Iron Ore (WAIO) reflected the impact of Tropical Cyclone Veronica.

Metallurgical coal (Mt)

31
(0%)

10
(-4%)

A solid underlying operating performance at Queensland Coal was offset by the impacts of wet weather.

Energy coal (Mt)

20
(0%)

7
(+1%)

Increased production at New South Wales Energy Coal (NSWEC) was offset by the impact of adverse weather at Cerrejón.

BHP Chief Executive Officer, Andrew Mackenzie, said: "During the March 2019 quarter, we had a strong operational performance despite weather impacts across Australia and Chile. We approved Atlantis Phase 3 and now have five major projects under development. Those projects, our work on transformation, technology and culture, and our successful petroleum and copper exploration and appraisal programs will grow value and returns for years to come."

 

 

 

 

 

1

Summary

Operational performance

Production and guidance are summarised below.

Production

 

Mar YTD19

 

Mar Q19

 

Mar YTD19
vs
Mar YTD18

 

Mar Q19
vs
Mar Q18

 

Mar Q19
vs
Dec Q18

 

Previous FY19
guidance

 

Current FY19
guidance

 

 

Petroleum (MMboe)

92

29

0%

3%

(5%)

113 - 118

113 - 118

Upper end of range

Copper (kt)

1,245

420

(3%)

(8%)

1%

1,645 - 1,740

1,645 - 1,740

Unchanged

   Escondida

848

268

(6%)

(15%)

(6%)

1,120 - 1,180

1,120 - 1,180

Lower end of range

   Other copper(i)

397

152

1%

7%

15%

525 - 560

525 - 560

Olympic Dam: Lower end of range

Iron ore(ii) (Mt)

175

56

0%

(3%)

(3%)

241 - 250

235 - 239

Lowered due to Tropical Cyclone Veronica

   WAIO (100% basis)

198

64

(2%)

(5%)

(3%)

273 - 283

265 - 270

As above

Metallurgical coal (Mt)

31

10

0%

(5%)

(4%)

43 - 46

43 - 46

Unchanged

   Queensland Coal (100% basis)

54

17

(1%)

(5%)

(3%)

75 - 81

75 - 81

Unchanged

Energy coal (Mt)

20

7

0%

11%

1%

28 - 29

28 - 29

Unchanged

   NSWEC

13

5

5%

24%

6%

18 - 19

18 - 19

Unchanged

   Cerrejón

7

2

(8%)

(10%)

(7%)

10

10

Unchanged

(i)     Other copper comprises Pampa Norte, Olympic Dam and Antamina.

(ii)    Increase in BHP's share of volumes reflects the expiry of the Wheelarra Joint Venture sublease in March 2018, with control of the sublease area reverted to the Jimblebar Joint Venture, which is accounted for on a consolidated basis with minority interest adjustments.

Major development projects

During the March 2019 quarter, the BHP Board approved US$696 million (BHP share) in capital expenditure for the Atlantis Phase 3 project in the US Gulf of Mexico.

At the end of March 2019, BHP had five major projects under development in petroleum, copper, iron ore and potash, with a combined budget of US$11.1 billion over the life of the projects.

Petroleum

Production

 

Mar

YTD19

 

Mar

Q19

 

Mar YTD19

vs

Mar YTD18

 

Mar Q19

vs

Mar Q18

 

Mar Q19

vs

Dec Q18

 

Crude oil, condensate and natural gas liquids (MMboe)

42

13

(5%)

(5%)

(9%)

Natural gas (bcf)

299

93

4%

12%

(1%)

Total petroleum production (MMboe)

92

29

0%

3%

(5%)

Petroleum - Total petroleum production was flat at 92 MMboe. Guidance for the 2019 financial year remains unchanged at between 113 and 118 MMboe, with volumes expected to be towards the upper end of the guidance range.

Crude oil, condensate and natural gas liquids production decreased by five per cent to 42 MMboe due to natural field decline across the portfolio and a 70 day planned dry dock maintenance program at Pyrenees completed during the September 2018 quarter. This decline was partially offset by higher uptimes at our Gulf of Mexico assets and stronger field performance in Atlantis.

 

 

 

 

2

Natural gas production increased by four per cent to 299 bcf, reflecting increased tax barrels at Trinidad and Tobago in accordance with the terms of our Production Sharing Contract and higher uptime at North West Shelf. This was partially offset by planned maintenance at Trinidad and Tobago in the December 2018 quarter, the impact of Tropical Cyclone Veronica and natural field decline across the portfolio.

Projects

Project and
ownership

 

Capital expenditure US$M

 

Initial production target date

 

Capacity

 

Progress

 

Mad Dog Phase 2
(US Gulf of Mexico)
23.9% (non-operator)

2,154

CY22

New floating production facility with the capacity to produce up to 140,000 gross barrels of crude oil per day.

On schedule and budget. The overall project is 46% complete.

Atlantis Phase 3
(US Gulf of Mexico)
44% (non-operator)

696

CY20

New subsea production system that will tie back to the existing Atlantis facility, with capacity to produce up to 38,000 gross barrels of oil equivalent per day.

Project approved on 13 February 2019.

On 13 February 2019, the BHP Board approved the development of the Atlantis Phase 3 project in the US Gulf of Mexico. The project includes a subsea tie back of eight new production wells and is expected to increase production by an estimated 38 Mboe/d (100 per cent basis) at its peak. This decision follows sanction by BP (the operator).

The Bass Strait West Barracouta project is tracking to plan and study work continues on the Ruby project in Trinidad and Tobago with an investment decision expected during the 2019 calendar year.

Petroleum exploration

Exploration and appraisal wells drilled during the March 2019 quarter are summarised below.

Well

 

Location

 

Target

 

Formation

age

 

BHP equity

 

Spud date

 

Water depth

 

Total well depth

 

Status

 

Trion-2DEL

Mexico

Block AE-0093

Oil

Eocene

60% (BHP Operator)

15 November 2018

2,379 m

4,659 m

Hydrocarbons encountered; Plugged and abandoned

Trion-2DEL ST01

Mexico

Block AE-0093

Oil

Eocene

60% (BHP Operator)

4 January 2019

2,379 m

5,002 m

Hydrocarbons encountered; Plugged and abandoned

Bélé-1

Trinidad & Tobago Block 23(a)

Gas

Pliocene

70% (BHP Operator)

2 March 2019

2,102 m

3,693 m

Hydrocarbons encountered; Drilling ahead

In Mexico, we spud the Trion-2DEL appraisal well in November 2018 and encountered oil in line with expectations. This was followed by a downdip sidetrack which encountered oil and water, as predicted, further appraising the field and delineating the resource. Following the recent encouraging results in the Trion block, an additional appraisal well (3DEL), to further delineate the scale and characterisation of the resource, has been approved and is expected to be drilled in the second half of the 2019 calendar year.

The Deepwater Invictus rig mobilised to Trinidad and Tobago for Phase 3 of our deepwater drilling campaign. This includes three wells testing three prospects in our Northern licences around the Bongos discovery. Bélé-1, the first of these wells, was spud on 2 March 2019 and encountered hydrocarbons. Drilling is still in progress and our assessment is ongoing.

In the US Gulf of Mexico, following the Samurai-2 discovery in 2018, Murphy, the Operator, has commenced pre-FEED activities. In the Western US Gulf of Mexico, our Ocean Bottom Node(3) seismic acquisition survey and node recovery has been completed. This will be incorporated into our ongoing analysis which we will continue to progress over the next 24 months.

Petroleum exploration expenditure for the nine months ended March 2019 was US$438 million, of which US$215 million was expensed. A US$750 million exploration and appraisal program is being executed for the 2019 financial year.

 

 

 

3

Copper

Production

 

Mar
YTD19

 

Mar
Q19

 

Mar YTD19
vs
Mar YTD18

 

Mar Q19
vs
Mar Q18

 

Mar Q19
vs
Dec Q18

 

Copper (kt)

1,245

420

(3%)

(8%)

1%

Zinc (t)

75,643

20,848

(10%)

(18%)

(14%)

Uranium (t)

2,590

1,106

16%

(1%)

19%

Copper - Total copper production decreased by three per cent to 1,245 kt. Guidance for the 2019 financial year remains unchanged at between 1,645 and 1,740 kt.

Escondida copper production decreased by six per cent to 848 kt as expected lower copper grades were partly offset by record concentrator throughput. Production guidance remains unchanged at between 1,120 and 1,180 kt for the 2019 financial year, with volumes expected to be towards the lower end of the range.

Pampa Norte copper production decreased by 11 per cent to 172 kt and reflects planned maintenance and a production outage at Spence following a fire at the electro-winning plant in September 2018, and the impact of heavy rainfall in northern Chile in February 2019 at both Spence and Cerro Colorado. This was partially offset by record ore milled at both operations after implementing maintenance improvement initiatives. Production guidance at Spence and Cerro Colorado remains unchanged for the 2019 financial year, at between 160 and 175 kt and 60 and 70 kt respectively.

Olympic Dam copper production increased by 22 per cent to 115 kt as a result of the major smelter maintenance campaign in the prior period, which was partially offset by an unplanned acid plant outage in August 2018. Following completion of the acid plant remediation works, surface operations ramped up between October 2018 and February 2019. Production guidance remains unchanged at between 170 and 180 kt for the 2019 financial year, with volumes expected to be towards the lower end of the guidance range.

Antamina copper production increased by five per cent to 110 kt due to higher head grades. Production guidance for the 2019 financial year remains unchanged at approximately 135 kt for copper and approximately 85 kt for zinc.

Projects

Project and
ownership

 

Capital expenditure US$M

 

Initial production target date

 

Capacity

 

Progress

 

Spence Growth Option
(Chile)
100%

 2,460

FY21

New 95 ktpd concentrator is expected to increase Spence's payable copper in concentrate production by approximately 185 ktpa in the first 10 years of operation and extend the mining operations by more than 50 years.

On schedule and budget. The overall project is 47% complete.

Iron Ore

Production

 

Mar
YTD19

 

Mar
Q19

 

Mar YTD19
vs
Mar YTD18

 

Mar Q19
vs
Mar Q18

 

Mar Q19
vs
Dec Q18

 

Iron ore (kt)

175,343

56,117

0%

(3%)

(3%)

Iron ore - Total iron ore production was broadly unchanged at 175 Mt (198 Mt on a 100 per cent basis). Production guidance for the 2019 financial year has been reduced to between 235 and 239 Mt, or 265 and 270 Mt on a 100 per cent basis, reflecting a 6 to 8 Mt impact from Tropical Cyclone Veronica. As a result, full year unit costs are now expected to be below US$15 per tonne, an increase from previous guidance of less than US$14 per tonne, due to the lower volumes, direct costs of remediation, increased demurrage, rehandle to manage stockyards and opportune maintenance at the mines during port downtime. In addition, private royalties are also expected to be higher as a function of higher iron ore prices.

4

At WAIO, volumes reflected record production at Jimblebar and the impact from the Mt Whaleback fire in the prior period. This was offset by the impacts of planned maintenance in the September 2018 quarter, a train derailment on 5 November 2018 and Tropical Cyclone Veronica in March 2019. While our facilities did not sustain major damage as a result of the cyclone, the port ramp up was slowed by localised flooding, processing wet material and equipment assessments.

Mining and processing operations at Samarco remain suspended following the failure of the Fundão tailings dam and Santarém water dam on 5 November 2015.

Projects

Project and
ownership

 

Capital expenditure US$M

 

Initial production target date

 

Capacity

 

Progress

 

South Flank
(Australia)
85%

 3,061

CY21

Sustaining iron ore mine to replace production from the 80 Mtpa (100 per cent basis) Yandi mine.

On schedule and budget. The overall project is 29% complete.

Coal

Production

 

Mar
YTD19

 

Mar
Q19

 

Mar YTD19
vs
Mar YTD18

 

Mar Q19
vs
Mar Q18

 

Mar Q19
vs
Dec Q18

 

Metallurgical coal (kt)

30,507

9,877

0%

(5%)

(4%)

Energy coal (kt)

20,058

6,751

0%

11%

1%

Metallurgical coal - Metallurgical coal production was broadly flat at 31 Mt (54 Mt on a 100 per cent basis). Guidance for the 2019 financial year remains unchanged at between 43 and 46 Mt (75 and 81 Mt on a 100 per cent basis).

At Queensland Coal, increased yields at South Walker Creek and higher wash-plant throughput at Poitrel following the purchase of the Red Mountain processing facility supported record production at BMC. Despite record stripping, BMA's production decreased slightly due to the scheduled longwall move at Broadmeadow in the December 2018 quarter and unfavourable weather impacts in the March 2019 quarter.

On 27 March 2019, BMA completed the sale of the Gregory Crinum Mine to Sojitz Corporation.

Energy coal - Energy coal production was broadly flat at 20 Mt. Guidance for the 2019 financial year remains unchanged at approximately 28 to 29 Mt.

New South Wales Energy Coal production increased five per cent supported by record stripping performance. Production guidance remains unchanged at between 18 and 19 Mt for the 2019 financial year. However, following optimisation of the mine plan through the construction of Multiple Elevated Roadways (MERs) which will reduce future cycle times, the focus on higher quality products and challenges with labour hire attraction and retention, unit costs for New South Wales Energy Coal are now expected to be approximately US$51 per tonne, an increase from previous guidance of between US$43 and US$48 per tonne. Ongoing labour hire challenges are being addressed, including through the initial deployment of BHP Operations Services in the June 2019 quarter.

Cerrejón production decreased by eight per cent due to adverse weather and its impacts on mine sequencing. Production guidance remains unchanged at approximately 10 Mt for the 2019 financial year.

 

 

 

 

 

 

5

Other

Nickel production

 

Mar
YTD19

 

Mar
Q19

 

Mar YTD19
vs
Mar YTD18

 

Mar Q19
vs
Mar Q18

 

Mar Q19
vs
Dec Q18

 

Nickel (kt)

58.7

19.2

(13%)

(9%)

6%

Nickel - Nickel West production decreased by 13 per cent to 59 kt as operations were suspended following a fire at the Kalgoorlie smelter in September 2018. The smelter returned to operation on 1 October 2018, with final repairs and ramp up completed in the March 2019 quarter. Production guidance for the 2019 financial year remains unchanged and is expected to be broadly in line with the 2018 financial year.

Potash project

Project and
ownership

 

Investment
US$M

 

Scope

 

Progress

 

Jansen Potash
(Canada)
100%

2,700

Investment to finish the excavation and lining of the production and service shafts, and to continue the installation of essential surface infrastructure and utilities.

The project is 83% complete and within the approved budget. The main activity for the quarter remained centred on removing the boring equipment from both shafts.

Minerals exploration

Minerals exploration expenditure for the nine months ended March 2019 was US$122 million, of which US$84 million was expensed. Greenfield minerals exploration is predominantly focused on advancing copper targets within Chile, Ecuador, Peru, Canada, South Australia and the South-West United States.

During March 2019, BHP signed a non-binding letter of intent with Luminex for an earn-in and joint venture agreement on Luminex's Tarqui 1 and 2 mining concessions in Ecuador. Negotiations to complete a binding agreement will be undertaken over the next two months.

On 15 April 2019, BHP secured a five per cent interest in Midland Exploration Inc., which has copper exploration tenements in Canada.

Following identification in November 2018 of a potential iron oxide, copper and gold (IOCG) mineralised system at Oak Dam, 65 kilometres to the south east of Olympic Dam, BHP has commenced a further drilling program to define the extent of mineralisation.

Variance analysis relates to the relative performance of BHP and/or its operations during the nine months ended March 2019 compared with the nine months ended March 2018, 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. Numbers presented may not add up precisely to the totals provided due to rounding. Copper equivalent production based on 2018 financial year average realised prices.

 

The following footnotes apply to this Operational Review:

(1)   Excludes production from Onshore US.

(2)   2019 financial year unit cost guidance: Petroleum <US$11/boe, Escondida <US$1.15/lb, WAIO <US$15/t, Queensland Coal US$68-72/t and NSWEC US$51/t; based on exchange rates of AUD/USD 0.75 and USD/CLP 663.

(3)   WGOM OBN 2018 Seismic Permit is OCS Permit T18-010.

 

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 barrels of oil equivalent per day (Mboe/d); 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).

 

In this release, the terms 'BHP', 'Group', 'BHP Group', 'we', 'us', 'our' and ourselves' are used to refer to BHP Group Limited, BHP Group plc and, except where the context otherwise requires, their respective subsidiaries as defined in note 27 'Subsidiaries' in section 5.1 of BHP's 30 June 2018 Annual Report and Form 20-F, unless stated otherwise. Notwithstanding that this release may include production, financial and other information from non-operated assets, non-operated assets are not included in the BHP Group and, as a result, statements regarding our operations, assets and values apply only to our operated assets unless stated otherwise.

 

6
 

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

 

Media Relations

Investor Relations

Email: media.relations@bhp.com

Email: investor.relations@bhp.com

Australia and Asia

Australia and Asia

Tara Dines

Tel: +61 3 9609 3830 Mobile: +61 411 071 715

Tel: +61 3 9609 2222 Mobile: +61 499 249 005

United Kingdom and South Africa

United Kingdom and South Africa

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

James Wear

Tel: +1 713 961 8283 Mobile: +1 713 299 5342

Tel: +1 713 993 3737 Mobile: +1 347 882 3011

 

 

 

BHP Group Limited ABN 49 004 028 077

BHP Group 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

 

 

 

 

 

 

 

7

 

Production summary                                                                                                                                            

 

 

 

Quarter ended

 

Year to date

 

 

BHP
interest

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Petroleum (1)

 

 

 

 

 

 

 

 

Petroleum

 

 

 

 

 

 

 

 

Conventional

 

 

 

 

 

 

 

 

Crude oil, condensate and NGL (Mboe)

 

13,960

13,486

14,087

14,497

13,236

41,820

43,919

Natural gas (bcf)

 

82.9

90.7

112.3

93.9

92.9

299.1

286.3

 

 

 

 

 

 

 

 

 

Total (Mboe)

 

27,777

28,603

32,804

30,147

28,719

91,670

91,636

 

 

 

 

 

 

 

 

 

Copper (2)

 

 

 

 

 

 

 

 

Copper

 

 

 

 

 

 

 

 

Payable metal in concentrate (kt)

 

 

 

 

 

 

 

 

Escondida (3)

57.5%

244.9

246.1

240.0

212.6

205.4

658.0

679.7

Antamina

33.8%

35.2

34.6

37.0

38.3

34.5

109.8

104.9

 

 

 

 

 

 

 

 

 

Total

 

280.1

280.7

277.0

250.9

239.9

767.8

784.6

 

 

 

 

 

 

 

 

 

Cathode (kt)

 

 

 

 

 

 

 

 

Escondida (3)

57.5%

69.4

70.1

55.4

71.9

62.4

189.7

217.4

Pampa Norte (4)

100%

66.8

70.6

43.4

61.8

67.2

172.4

193.2

Olympic Dam

100%

40.5

42.0

33.3

31.6

50.2

115.1

94.7

 

 

 

 

 

 

 

 

 

Total

 

176.7

182.7

132.1

165.3

179.8

477.2

505.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total copper (kt)

 

456.8

463.4

409.1

416.2

419.7

1,245.0

1,289.9

 

 

 

 

 

 

 

 

 

Lead

 

 

 

 

 

 

 

 

Payable metal in concentrate (t)

 

 

 

 

 

 

 

 

Antamina

33.8%

464

546

563

600

456

1,619

2,888

 

 

 

 

 

 

 

 

 

Total

 

464

546

563

600

456

1,619

2,888

 

 

 

 

 

 

 

 

 

Zinc

 

 

 

 

 

 

 

 

Payable metal in concentrate (t)

 

 

 

 

 

 

 

 

Antamina

33.8%

25,562

35,983

30,558

24,237

20,848

75,643

83,817

 

 

 

 

 

 

 

 

 

Total

 

25,562

35,983

30,558

24,237

20,848

75,643

83,817

 

 

 

 

 

 

 

 

 

Gold

 

 

 

 

 

 

 

 

Payable metal in concentrate (troy oz)

 

 

 

 

 

 

 

 

Escondida (3)

57.5%

59,953

68,345

63,578

73,726

73,998

211,302

160,757

Olympic Dam (refined gold)

100%

28,989

33,497

23,471

17,856

28,609

69,936

58,059

 

 

 

 

 

 

 

 

 

Total

 

88,942

101,842

87,049

91,582

102,607

281,238

218,816

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

8

 

 

Quarter ended

 

Year to date

 

 

BHP
interest

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Silver

 

 

 

 

 

 

 

 

Payable metal in concentrate (troy koz)

 

 

 

 

 

 

 

 

Escondida (3)

57.5%

2,339

2,527

1,997

2,570

2,189

6,756

6,269

Antamina

33.8%

1,189

1,321

1,309

1,178

1,062

3,549

4,116

Olympic Dam (refined silver)

100%

248

278

213

212

230

655

514

 

 

 

 

 

 

 

 

 

Total

 

3,776

4,126

3,519

3,960

3,481

10,960

10,899

 

 

 

 

 

 

 

 

 

Uranium

 

 

 

 

 

 

 

 

Payable metal in concentrate (t)

 

 

 

 

 

 

 

 

Olympic Dam

100%

1,118

1,123

555

929

1,106

2,590

2,241

 

 

 

 

 

 

 

 

 

Total

 

1,118

1,123

555

929

1,106

2,590

2,241

 

 

 

 

 

 

 

 

 

Molybdenum

 

 

 

 

 

 

 

 

Payable metal in concentrate (t)

 

 

 

 

 

 

 

 

Antamina

33.8%

420

261

464

417

82

963

1,401

 

 

 

 

 

 

 

 

 

Total

 

420

261

464

417

82

963

1,401

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9

Production summary

 

 

 

Quarter ended

 

Year to date

 

 

BHP
interest

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Iron Ore

 

 

 

 

 

 

 

 

Iron Ore

 

 

 

 

 

 

 

 

Production (kt) (5)

 

 

 

 

 

 

 

 

Newman

85%

16,412

18,500

16,378

17,578

15,608

49,564

48,571

Area C Joint Venture

85%

12,802

12,041

11,696

10,280

11,627

33,603

39,476

Yandi Joint Venture

85%

15,802

17,339

16,870

15,627

15,214

47,711

46,709

Jimblebar (6)

85%

4,669

15,092

16,333

14,320

13,658

44,311

15,535

Wheelarra

85%

8,006

614

114

30

10

154

24,544

Samarco

50%

-

-

-

-

-

-

-

 

 

 

 

 

 

 

 

 

Total

 

57,691

63,586

61,391

57,835

56,117

175,343

174,835

 

 

 

 

 

 

 

 

 

Coal

 

 

 

 

 

 

 

 

Metallurgical coal

 

 

 

 

 

 

 

 

Production (kt) (7)

 

 

 

 

 

 

 

 

BMA

50%

7,983

9,220

7,744

7,694

7,608

23,046

23,673

BHP Mitsui Coal (8)

80%

2,396

2,789

2,614

2,578

2,269

7,461

6,958

 

 

 

 

 

 

 

 

 

Total

 

10,379

12,009

10,358

10,272

9,877

30,507

30,631

 

 

 

 

 

 

 

 

 

Energy coal

 

 

 

 

 

 

 

 

Production (kt)

 

 

 

 

 

 

 

 

Australia

100%

3,662

6,261

3,982

4,311

4,552

12,845

12,280

Colombia

33.3%

2,444

2,762

2,658

2,356

2,199

7,213

7,855

 

 

 

 

 

 

 

 

 

Total

 

6,106

9,023

6,640

6,667

6,751

20,058

20,135

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

Nickel

 

 

 

 

 

 

 

 

Saleable production (kt)

 

 

 

 

 

 

 

 

Nickel West (9)

100%

21.1

25.6

21.4

18.1

19.2

58.7

67.4

 

 

 

 

 

 

 

 

 

Total

 

21.1

25.6

21.4

18.1

19.2

58.7

67.4

 

 

 

 

 

 

 

 

 

Cobalt

 

 

 

 

 

 

 

 

Saleable production (t)

 

 

 

 

 

 

 

 

Nickel West

100%

240

277

249

154

194

597

783

 

 

 

 

 

 

 

 

 

Total

 

240

277

249

154

194

597

783

 

 

 

 

 

 

 

 

 

(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 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 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 a 100% basis. BHP interest in saleable production is 80%.

(9)   Production restated to include other nickel by-products.

 

Throughout this report figures in italics indicate that this figure has been adjusted since it was previously reported.

10

Production and sales report

 

 

 

Quarter ended

 

Year to date

 

 

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Petroleum - Conventional (1)

 

 

 

 

 

 

 

 

Bass Strait

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

1,126

1,361

1,653

1,401

893

3,947

4,454

NGL

(Mboe)

1,170

1,428

1,840

1,447

849

4,136

4,704

Natural gas

(bcf)

20.5

29.9

35.1

25.2

21.0

81.3

96.0

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

5.7

7.8

9.3

7.0

5.2

21.6

25.2

 

 

 

 

 

 

 

 

 

North West Shelf

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

1,377

1,267

1,514

1,520

1,431

4,465

4,293

NGL

(Mboe)

210

186

242

206

193

641

637

Natural gas

(bcf)

35.8

34.2

36.6

37.5

36.6

110.7

108.2

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

7.6

7.2

7.9

8.0

7.7

23.6

23.0

 

 

 

 

 

 

 

 

 

Pyrenees

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

1,250

1,168

282

1,101

940

2,323

3,970

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

1.3

1.2

0.3

1.1

0.9

2.3

4.0

 

 

 

 

 

 

 

 

 

Other Australia (2)

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

8

7

7

8

6

21

25

Natural gas

(bcf)

13.4

13.9

13.8

13.9

13.0

40.7

42.8

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

2.2

2.3

2.3

2.3

2.2

6.8

7.2

 

 

 

 

 

 

 

 

 

Atlantis (3)

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

3,459

3,471

3,190

3,802

3,888

10,880

9,858

NGL

(Mboe)

248

217

215

268

275

758

661

Natural gas

(bcf)

1.8

1.5

1.5

1.9

2.0

5.4

5.2

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

4.0

3.9

3.7

4.4

4.5

12.5

11.4

 

 

 

 

 

 

 

 

 

Mad Dog (3)

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

1,140

581

1,270

1,158

1,258

3,686

3,391

NGL

(Mboe)

55

27

61

54

58

173

171

Natural gas

(bcf)

0.2

0.1

0.2

0.2

0.2

0.6

0.5

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

1.2

0.6

1.4

1.2

1.3

4.0

3.6

 

 

 

 

 

 

 

 

 

Shenzi (3)

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

2,323

2,110

2,016

2,024

1,881

5,921

7,127

NGL

(Mboe)

140

151

122

121

112

355

465

Natural gas

(bcf)

0.4

0.4

0.4

0.4

0.4

1.2

1.3

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

2.5

2.3

2.2

2.2

2.1

6.5

7.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11

Production and sales report

 

 

 

Quarter ended

 

Year to date

 

 

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Petroleum - Conventional (1)
(continued)

 

 

 

 

 

 

 

 

Trinidad/Tobago

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

232

233

447

200

284

931

485

Natural gas

(bcf)

10.0

9.8

24.0

14.0

19.5

57.5

30.2

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

1.9

1.9

4.4

2.5

3.5

10.5

5.5

 

 

 

 

 

 

 

 

 

Other Americas (3) (4)

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

189

313

207

218

284

709

625

NGL

(Mboe)

3

22

3

4

18

25

11

Natural gas

(bcf)

-

0.3

-

0.1

0.2

0.3

0.2

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

0.2

0.4

0.2

0.2

0.3

0.8

0.7

 

 

 

 

 

 

 

 

 

UK (5)

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

43

38

36

36

-

72

105

NGL

(Mboe)

18

18

21

21

-

42

70

Natural gas

(bcf)

0.8

0.6

0.7

0.7

-

1.4

1.9

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

0.2

0.2

0.2

0.2

-

0.3

0.5

 

 

 

 

 

 

 

 

 

Algeria

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

969

888

961

908

866

2,735

2,867

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

1.0

0.9

1.0

0.9

0.9

2.7

2.9

 

 

 

 

 

 

 

 

 

Petroleum - Total (1)

 

 

 

 

 

 

 

 

Conventional

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

12,116

11,437

11,583

12,376

11,731

35,690

37,200

NGL

(Mboe)

1,844

2,049

2,504

2,121

1,505

6,130

6,719

Natural gas

(bcf)

82.9

90.7

112.3

93.9

92.9

299.1

286.3

 

 

 

 

 

 

 

 

 

Total

(Mboe)

27,777

28,603

32,804

30,147

28,719

91,670

91,636

 

 

 

 

 

 

 

 

 

(1)   Total boe conversions are based on 6 bcf of natural gas equals 1 MMboe. Negative production figures represent finalisation adjustments.

(2)   Other Australia includes Minerva and Macedon.

(3)   Gulf of Mexico volumes are net of royalties.

(4)   Other Americas includes Neptune, Genesis and Overriding Royalty Interest.

(5)   BHP completed the sale of its interest in the Bruce and Keith oil and gas fields on 30 November 2018. The sale has an effective date of 1 January 2018.

 

 

 

 

 

 

 

 

12

Production and sales report                                                                                                                                

 

 

 

Quarter ended

 

Year to date

 

 

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Copper

 

 

 

 

 

 

 

 

Metals production is payable metal unless otherwise stated.

 

 

 

 

 

 

 

 

 

Escondida, Chile (1)

 

 

 

 

 

 

 

 

Material mined

(kt)

103,385

106,788

107,260

105,580

103,936

316,776

309,623

Sulphide ore milled

(kt)

32,203

31,732

30,513

30,507

32,027

93,047

86,543

Average concentrator head grade

(%)

0.96%

0.96%

0.94%

0.87%

0.82%

0.88%

0.99%

Production ex mill

(kt)

252.6

253.6

241.9

219.9

216.9

678.7

702.5

Production

 

 

 

 

 

 

 

 

Payable copper

(kt)

244.9

246.1

240.0

212.6

205.4

658.0

679.7

Copper cathode (EW)

(kt)

69.4

70.1

55.4

71.9

62.4

189.7

217.4

- Oxide leach

(kt)

24.5

27.1

19.5

23.4

20.9

63.8

74.3

- Sulphide leach

(kt)

44.9

43.0

35.8

48.5

41.5

125.8

143.1

 

 

 

 

 

 

 

 

 

Total copper

(kt)

314.3

316.2

295.4

284.5

267.8

847.7

897.1

 

 

 

 

 

 

 

 

 

Payable gold concentrate

(troy oz)

59,953

68,345

63,578

73,726

73,998

211,302

160,757

Payable silver concentrate

(troy koz)

2,339

2,527

1,997

2,570

2,189

6,756

6,269

Sales

 

 

 

 

 

 

 

 

Payable copper

(kt)

228.3

260.3

216.5

229.2

212.0

657.7

660.1

Copper cathode (EW)

(kt)

61.7

80.9

53.2

72.3

56.6

182.1

207.4

Payable gold concentrate

(troy oz)

59,953

68,345

63,578

73,726

73,999

211,303

160,757

Payable silver concentrate

(troy koz)

2,339

2,527

1,997

2,570

2,189

6,756

6,269

(1) Shown on a 100% basis. BHP interest in saleable production is 57.5%.       

Pampa Norte, Chile

 

 

 

 

 

 

 

 

Cerro Colorado

 

 

 

 

 

 

 

 

Material mined

(kt)

17,766

17,918

18,488

19,875

15,561

53,924

59,338

Ore milled

(kt)

4,905

4,833

4,802

5,069

4,277

14,148

13,467

Average copper grade

(%)

0.58%

0.58%

0.53%

0.62%

0.63%

0.59%

0.60%

Production

 

 

 

 

 

 

 

 

Copper cathode (EW)

(kt)

13.6

19.0

14.2

19.4

18.2

51.8

44.3

Sales

 

 

 

 

 

 

 

 

Copper cathode (EW)

(kt)

13.7

20.9

13.8

19.0

15.5

48.3

43.7

Spence

 

 

 

 

 

 

 

 

Material mined

(kt)

21,463

23,103

23,007

21,661

18,632

63,300

66,873

Ore milled

(kt)

5,144

4,009

5,642

5,428

4,376

15,446

15,438

Average copper grade

(%)

1.03%

1.11%

1.21%

1.10%

1.03%

1.12%

1.14%

Production

 

 

 

 

 

 

 

 

Copper cathode (EW)

(kt)

53.2

51.6

29.2

42.4

49.0

120.6

148.9

Sales

 

 

 

 

 

 

 

 

Copper cathode (EW)

(kt)

49.8

57.1

29.7

39.1

46.1

114.9

145.0

 

 

 

 

 

13

Production and sales report

 

 

 

Quarter ended

 

Year to date

 

 

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Copper (continued)

 

 

 

 

 

 

 

 

Metals production is payable metal unless otherwise stated.

 

Antamina, Peru

 

 

 

 

 

 

 

 

Material mined (100%)

(kt)

58,085

59,002

62,470

62,850

57,900

183,220

176,426

Sulphide ore milled (100%)

(kt)

12,166

12,973

13,197

12,912

11,466

37,575

38,086

Average head grades

 

 

 

 

 

 

 

 

- Copper

(%)

1.01%

0.91%

0.96%

1.02%

1.04%

1.01%

0.95%

- Zinc

(%)

1.01%

1.19%

1.10%

0.85%

0.87%

0.94%

0.98%

Production

 

 

 

 

 

 

 

 

Payable copper

(kt)

35.2

34.6

37.0

38.3

34.5

109.8

104.9

Payable zinc

(t)

25,562

35,983

30,558

24,237

20,848

75,643

83,817

Payable silver

(troy koz)

1,189

1,321

1,309

1,178

1,062

3,549

4,116

Payable lead

(t)

464

546

563

600

456

1,619

2,888

Payable molybdenum

(t)

420

261

464

417

82

963

1,401

Sales

 

 

 

 

 

 

 

 

Payable copper

(kt)

32.1

36.6

33.6

40.7

33.3

107.6

101.0

Payable zinc

(t)

26,456

33,088

31,822

26,072

20,595

78,489

82,020

Payable silver

(troy koz)

1,052

1,311

1,193

1,236

1,027

3,456

3,997

Payable lead

(t)

859

595

612

649

749

2,010

3,455

Payable molybdenum

(t)

500

388

208

535

256

999

1,361

Olympic Dam, Australia

 

 

 

 

 

 

 

 

Material mined (1)

(kt)

2,056

2,201

2,044

2,434

2,191

6,669

5,298

Ore milled

(kt)

2,188

2,171

1,242

2,157

2,371

5,770

5,044

Average copper grade

(%)

2.36%

2.12%

2.05%

2.10%

2.22%

2.14%

2.23%

Average uranium grade

(kg/t)

0.71

0.69

0.62

0.62

0.65

0.63

0.62

Production

 

 

 

 

 

 

 

 

Copper cathode (ER and EW)

(kt)

40.5

42.0

33.3

31.6

50.2

115.1

94.7

Payable uranium

(t)

1,118

1,123

555

929

1,106

2,590

2,241

Refined gold

(troy oz)

28,989

33,497

23,471

17,856

28,609

69,936

58,059

Refined silver

(troy koz)

248

278

213

212

230

655

514

Sales

 

 

 

 

 

 

 

 

Copper cathode (ER and EW)

(kt)

36.8

46.0

33.9

26.6

47.4

107.9

92.7

Payable uranium

(t)

509

1,230

765

828

375

1,968

1,527

Refined gold

(troy oz)

20,715

35,714

21,145

17,812

27,574

66,531

61,149

Refined silver

(troy koz)

202

307

216

177

241

634

539

(1) Material mined refers to run of mine ore mined and hoisted.                                                                                                 

 

 

 

 

 

 

14

Production and sales report

 

 

 

Quarter ended

 

Year to date

 

 

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Iron Ore

 

 

 

 

 

 

 

 

Iron ore production and sales are reported on a wet tonnes basis.

Pilbara, Australia

 

 

 

 

 

 

 

 

Production

 

 

 

 

 

 

 

 

Newman

(kt)

16,412

18,500

16,378

17,578

15,608

49,564

48,571

Area C Joint Venture

(kt)

12,802

12,041

11,696

10,280

11,627

33,603

39,476

Yandi Joint Venture

(kt)

15,802

17,339

16,870

15,627

15,214

47,711

46,709

Jimblebar (1)

(kt)

4,669

15,092

16,333

14,320

13,658

44,311

15,535

Wheelarra

(kt)

8,006

614

114

30

10

154

24,544

 

 

 

 

 

 

 

 

 

Total production

(kt)

57,691

63,586

61,391

57,835

56,117

175,343

174,835

 

 

 

 

 

 

 

 

 

Total production (100%)

(kt)

67,048

72,145

69,342

65,515

63,609

198,466

202,946

 

 

 

 

 

 

 

 

 

Sales

 

 

 

 

 

 

 

 

Lump

(kt)

13,993

15,173

15,014

14,020

13,603

42,637

43,034

Fines

(kt)

44,332

47,730

46,527

44,059

41,981

132,567

130,834

 

 

 

 

 

 

 

 

 

Total

(kt)

58,325

62,903

61,541

58,079

55,584

175,204

173,868

 

 

 

 

 

 

 

 

 

Total sales (100%)

(kt)

67,799

71,385

69,421

65,758

62,853

198,032

201,854

 

 

 

 

 

 

 

 

 

                   

 

(1) Shown on a 100% basis. BHP interest in saleable production is 85%.

 

Samarco, Brazil (1)

 

 

 

 

 

 

 

 

Production

(kt)

-

-

-

-

-

-

-

Sales

(kt)

25

-

-

10

-

10

39

 

(1)   Mining and processing operations remain suspended following the failure of the Fundão tailings dam and Santarém water dam on 5 November 2015.

 

 

 

 

 

 

 

 

 

 

 

 

 

15

Production and sales report

 

 

 

Quarter ended

 

Year to date

 

 

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Coal

 

 

 

 

 

 

 

 

Coal production is reported on the basis of saleable product.

Queensland Coal

 

 

 

 

 

 

 

 

Production (1)

 

 

 

 

 

 

 

 

BMA

 

 

 

 

 

 

 

 

Blackwater

(kt)

1,384

1,849

1,704

1,680

1,484

4,868

4,839

Goonyella

(kt)

2,314

2,639

1,989

1,813

2,141

5,943

5,322

Peak Downs

(kt)

1,723

1,658

1,131

1,685

1,468

4,284

4,692

Saraji

(kt)

1,240

1,201

1,111

1,288

1,250

3,649

3,852

Daunia

(kt)

547

629

620

419

470

1,509

1,927

Caval Ridge

(kt)

775

1,244

1,189

809

795

2,793

3,041

 

 

 

 

 

 

 

 

 

Total BMA

(kt)

7,983

9,220

7,744

7,694

7,608

23,046

23,673

 

 

 

 

 

 

 

 

 

Total BMA (100%)

(kt)

15,966

18,440

15,488

15,388

15,216

46,092

47,346

 

 

 

 

 

 

 

 

 

BHP Mitsui Coal (2)

 

 

 

 

 

 

 

 

South Walker Creek

(kt)

1,490

1,615

1,505

1,636

1,429

4,570

4,414

Poitrel

(kt)

906

1,174

1,109

942

840

2,891

2,544

 

 

 

 

 

 

 

 

 

Total BHP Mitsui Coal

(kt)

2,396

2,789

2,614

2,578

2,269

7,461

6,958

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Queensland Coal

(kt)

10,379

12,009

10,358

10,272

9,877

30,507

30,631

 

 

 

 

 

 

 

 

 

Total Queensland Coal (100%)

(kt)

18,362

21,229

18,102

17,966

17,485

53,553

54,304

 

 

 

 

 

 

 

 

 

Sales

 

 

 

 

 

 

 

 

Coking coal

(kt)

7,177

8,489

7,356

7,514

7,221

22,091

21,452

Weak coking coal

(kt)

2,598

2,866

2,813

3,058

3,282

9,153

8,564

Thermal coal

(kt)

168

85

141

157

379

677

443

 

 

 

 

 

 

 

 

 

Total

(kt)

9,943

11,440

10,310

10,729

10,882

31,921

30,459

 

 

 

 

 

 

 

 

 

Total (100%)

(kt)

17,658

20,162

18,102

18,818

19,176

56,096

53,921

 

 

 

 

 

 

 

 

 

 

(1)  Production figures include some thermal coal.                                                                                                        

(2)  Shown on a 100% basis. BHP interest in saleable production is 80%.                                                                

 

 

 

 

 

 

 

 

 

 

16

NSW Energy Coal, Australia

 

 

 

 

 

 

 

 

Production

(kt)

3,662

6,261

3,982

4,311

4,552

12,845

12,280

Sales

 

 

 

 

 

 

 

 

Export thermal coal

(kt)

3,181

5,795

3,549

4,809

3,529

11,887

10,851

Inland thermal coal

(kt)

400

160

332

393

302

1,027

1,216

 

 

 

 

 

 

 

 

 

Total

(kt)

3,581

5,955

3,881

5,202

3,831

12,914

12,067

 

 

 

 

 

 

 

 

 

Cerrejón, Colombia

 

 

 

 

 

 

 

 

Production

(kt)

2,444

2,762

2,658

2,356

2,199

7,213

7,855

Sales thermal coal - export

(kt)

2,480

2,763

2,589

2,297

2,200

7,086

7,617

 

Production and sales report                                                                                                                                

 

 

 

Quarter ended

 

Year to date

 

 

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Other

 

 

 

 

 

 

 

 

Nickel production is reported on the basis of saleable product

Nickel West, Australia

 

 

 

 

 

 

 

 

Mt Keith

 

 

 

 

 

 

 

 

Nickel concentrate

(kt)

44.9

55.6

50.2

44.9

52.5

147.6

149.1

Average nickel grade

(%)

21.3

18.8

18.9

19.8

19.2

57.9

62.1

Leinster

 

 

 

 

 

 

 

 

Nickel concentrate

(kt)

54.7

78.4

78.8

65.3

51.8

195.9

221.0

Average nickel grade

(%)

9.3

9.8

8.4

8.4

9.3

26.1

27.4

Saleable production

 

 

 

 

 

 

 

 

Refined nickel (1) (2)

(kt)

19.2

18.5

19.8

16.3

17.6

53.7

52.9

Intermediates and nickel by-products (1) (3)

(kt)

1.9

7.1

1.6

1.8

1.6

5.0

14.5

 

 

 

 

 

 

 

 

 

Total nickel (1)

(kt)

21.1

25.6

21.4

18.1

19.2

58.7

67.4

 

 

 

 

 

 

 

 

 

Cobalt by-products

(t)

240

277

249

154

194

597

783

Sales

 

 

 

 

 

 

-

-

Refined nickel (1) (2)

(kt)

19.5

17.5

19.3

17.3

17.9

54.5

53.5

Intermediates and nickel by-products (1) (3)

(kt)

2.5

6.3

2.2

2.1

0.1

4.4

14.3

 

 

 

 

 

 

 

 

 

Total nickel (1)

(kt)

21.9

23.8

21.5

19.4

18.0

58.9

67.8

 

 

 

 

 

 

 

 

 

Cobalt by-products

(t)

240

277

249

154

194

597

783

 

(1)   Production and sales restated to include other nickel by-products.

(2)   High quality refined nickel metal, including briquettes and powder.

(3)   Nickel contained in matte and by-product streams.

 

 

 

 

 

 

 

 

17

Production and sales report

 

 

 

Quarter ended

 

 

Year to date

 

 

 

Mar
2018

 

Jun
2018

 

Sep
2018

 

Dec
2018

 

Mar
2019

 

Mar
2019

 

Mar
2018

 

Onshore US - Discontinued operations (1)(2)

Eagle Ford (3)

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

2,838

3,826

3,256

1,035

-

4,291

10,015

NGL

(Mboe)

1,555

1,767

1,919

614

-

2,533

5,511

Natural gas

(bcf)

12.6

13.9

13.8

4.3

-

18.1

40.8

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

6.5

7.9

7.5

2.4

-

9.8

22.3

 

 

 

 

 

 

 

 

 

Permian (3)

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

1,398

1,903

1,478

631

-

2,109

3,719

NGL

(Mboe)

465

770

687

284

-

971

1,512

Natural gas

(bcf)

4.1

6.4

4.8

1.9

-

6.7

12.2

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

2.5

3.7

3.0

1.2

-

4.2

7.3

 

 

 

 

 

 

 

 

 

Haynesville (3)

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

-

-

11

-

-

11

1

NGL

(Mboe)

-

-

-

-

-

-

-

Natural gas

(bcf)

28.7

33.1

39.0

13.9

-

52.9

72.2

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

4.8

5.5

6.5

2.3

-

8.8

12.0

 

 

 

 

 

 

 

 

 

Fayetteville (4)

 

 

 

 

 

 

 

 

Natural gas

(bcf)

18.7

19.1

18.6

-

-

18.6

60.8

 

 

 

 

 

 

 

 

 

Total petroleum products

(MMboe)

3.1

3.2

3.1

-

-

3.1

10.1

 

 

 

 

 

 

 

 

 

Onshore US

 

 

 

 

 

 

 

 

Crude oil and condensate

(Mboe)

4,236

5,729

4,745

1,666

-

6,411

13,735

NGL

(Mboe)

2,020

2,537

2,606

898

-

3,504

7,023

Natural gas

(bcf)

64.1

72.5

76.2

20.1

-

96.3

186.0

 

 

 

 

 

 

 

 

 

Total

(Mboe)

16,939

20,349

20,051

5,914

-

25,965

51,758

 

 

 

 

 

 

 

 

 

 

(1)   Total boe conversions are based on 6 bcf of natural gas equals 1 MMboe. Negative production figures represent finalisation adjustments.

(2)   Volumes are net of mineral holder royalties.

(3)   BHP completed the sale of its interests in the Eagle Ford, Haynesville and Permian assets on 31 October 2018.

(4)   BHP completed the sale of its Fayetteville assets on 28 September 2018.

 

 

 

 

 

 

 

 

 

 

18


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