BHP Billiton President Petroleum and Potash,
BHP Billiton is a top producer in the Eagle Ford with investment prioritised on its liquids-rich Black Hawk acreage. This acreage generates EBITDA margins of over 75 per cent at current prices and is expected to be the single largest producer in our Petroleum portfolio in the 2015 financial year.
The repetitive nature of shale is ideally suited to BHP Billiton s productivity agenda and we have seen drilling times in the Black Hawk improve by 21 per cent in the last financial year. The application of technologies including restricted flows of initial production ensures we achieve the best recoveries while being cost effective.
We plan to invest approximately
In our Conventional business, high-return infill drilling and brownfield extensions will maintain stable volumes and largely offset natural field decline, while longer term we have attractive development options that are competing for capital within the Group.
Our exploration program will continue to focus on large tier-one conventional oil opportunities. In
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