BHP Billiton announced a 10% YoY increase in production for the quarter ending 31-Mar-2014. The rise in production, to 60.9 MMBOE (662 MBOE/d, with 45% liquids), is attributed to higher output from the company's onshore US projects.
· Liquids production of 296 MBOE/d, up 3% YoY; in part due to higher production from onshore US, Atlantis and Pyrenees
· Gas production of 2.2 MMcf/d, down 3% YoY; partially due to successful delivery of first gas from Macedon
The company also reduced its 2014 production guidance by 2% to 245 MMBOE (671 MBOE/d). The reduction reflects lower gas and NGL production in the Hawkville area of the Eagle Ford.
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