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BHP Q3 Production Up 10% On US Onshore

|Includes:BHP Billiton Limited (BHP)

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.

Production highlights

· 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.

In Feb-2014, BHP Billiton reported that liquids production in the half-year ending 31-Dec-2013 was 274 MBOE/d, up 9% YoY.

In Jan-2014, BHP Billiton announced that its production fell 4% YoY for the quarter ending 31-Dec-2013.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: BHP