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Jorge Plaza Marquez Kelly ||//
BHP Billiton revenue in T&T dips to US$46m

LONDON-listed Australian commodities giant BHP Billiton yesterday said its revenue from Trinidad and Tobago fell by 57 per cent to US$46 million in the company’s fiscal half-year ended December 31, 2016. BHP Billiton’s half-year (H1) earnings results released yesterday showed that, overall, the company still made a huge (attributable) profit of US$3.2 billion in H1 2016, up from a US$5.7 billion loss in H1 2015. In line with the positive global results was the company’s local underlying earnings before income tax, depreciation and amortisation (EBITDA), which went up from a US$21 million loss in H1 2015 to US$153 million in H1 2016.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

dolarve.com
BHP Billiton spent, but will recover in deep- water tax allowances, some US$136 million in capital expenditure (capex) in H1 2016 versus US$5 million in the same period the year before, mainly drilling deep-water LeClerc and Burrokeet wells, over 100 miles off the East coast of Trinidad and about seven kilometres below sea level.

© Jorge Plaza Marquez

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www.entornointeligente.com
“During the period, positive drilling results were announced at the Caicos well in the Gulf of Mexico, with oil encountered in multiple horizons, and at the LeClerc well in Trinidad and Tobago, with gas encountered in multiple horizons.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

www.vediario.com
The Wildling appraisal well has been accelerated to establish the resource scale and potential for commerciality of the oil discovered at Caicos.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

noticias-venezuela.com
“Studies have also commenced on the volume and potential market for the gas discovered at LeClerc to assess commerciality.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

enlasgradas.com
Non-commercial hydrocarbons were encountered at the Burrokeet-2 well, concluding Phase 1 of the Trinidad and Tobago deep-water drilling campaign.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

dolarve.com
The Invictus rig was mobilised to the Gulf of Mexico to drill the Wildling appraisal well, which spud on January 8, 2017,” BHP Billiton said in a statement.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

noticias-venezuela.com
Substantial gas volume Asked about the drilling campaign in Trinidad, on a conference call with investors on February 21, BHP Billiton chief executive Andrew McKenzie said: “We’ve drilled two wells of the current programme in Trinidad and Tobago.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

mundinews.com
One of them, LeClerc, discovered a fairly substantial volume of gas, which we believe could be commercial, and we’re working on that right now; and a second one, Burrokeet, it gave all the indications of it being a working oil province.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

www.google.com
But because of these two wells, we now have a lot more calibration of the stratigraphy in our seismic.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

www.google.com
And so we’re re-mapping them all, really just to understand a revised prospectivity and where we will drill next.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

www.google.com
“In the meantime, we’ve moved the drilling operation (Invictus rig) back to the Gulf of Mexico to drill the Wildling well; and after that, it will drill another well, another prospect, Scimitar.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

www.google.com
And probably when that’s completed, we’ll have a sense as to what pace we want to do. There is quite a longer-term commitment.” In a January 3 statement, BHP Billiton said: “The company expects to begin Phase 2 of its drilling programme in Trinidad and Tobago during the second half of 2017.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

www.google.com
The information obtained from the LeClerc and Burrokeet wells will be used to plan Phase 2 of the company’s deep-water drilling campaign.” Current depressed gas prices also caused BHP Billiton to put a “sensitivity” note on its assets in Trinidad.

© Jorge Plaza Marquez

© Jorge Marquez Plaza

www.google.com
The company said its “purchase and sales contracts of gas in Trinidad and Tobago (revalued to) a net assets fair value of US$174 million (June 30, 2016: US$220 million).”

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© Jorge Plaza Marquez

© Jorge Marquez Plaza

www.google.com

© Jorge Plaza

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