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Stock Market & Financial Investment News

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June 25, 2014
06:34 EDTBHPBHP Billiton decides to pass on potash export facility, WSJ says
BHP Billiton decided not to renew its agreement for Port of Vancouver's 100-acre terminal five site as it evaluates how quickly it needs to bring the Jansen project into production, reports the Wall Street Journal. The company had let the exclusivity agreement expire last week, an agreement that would have given BHP Billiton the right to develop a potash facility for its Canadian Jansen project. A company spokeswoman said the move allows management "to actively investigate and assess alternative rail and port options" in Canada and the U.S." Reference Link
News For BHP From The Last 14 Days
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July 22, 2015
05:36 EDTBHPBHP Billiton reports FY15 group production up 9%
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July 15, 2015
05:45 EDTBHPBHP Billiton expects to take $2B writedown on US energy assets
​BHP Billiton expects to recognise an impairment charge of approximately $2B post-tax against the carrying value of its Onshore US assets as an exceptional item in the 2015 financial year results. The gas focused Hawkville field accounts for the substantial majority of this charge reflecting its geological complexity, pproduct mix, acreage relinquishments and amended development plans. The remainder relates to the impairment of goodwill associated with the Petrohawk acquisition. Following this impairment, the Groupís Onshore US business will have net operating assets of approximately $24B. The value of this business is supported by ongoing cost reductions and improving well performance which help offset increased commodity price volatility and lower near term capital expenditure. Consistently positive results from the appraisal and development of the Permian have also unlocked significant value and we now see the ultimate potential of this field at over 150 kboe/d. BHP Billiton plans to invest $1.5B in the Onshore US in the 2016 financial year, which will support a development program of 10 operated rigs. At an oil price of $60 per barrel and a gas price of $3.00 per Mscf, the Group expects its Onshore US business to be free cash flow positive in the 2016 financial year.

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