Barclays: BHP Billiton upbeat on Eagle Ford shale

09/10/2012
BHP Billiton reported strong rates of return in the Eagle Ford shale in South Texas where the Australian firm is aggressively pursuing development, Chief Executive Officer J. Michael Yeager told the Barclays Capital CEO Energy & Power Conference in New York on Sept. 4. Many individual Eagle Ford wells are exceeding 100% rate of return, and the average single well payback is under 1 year, Yeager said. He sees potential for higher recovery factors over time through reduced well spacing and improved technologies. BHP has holdings in the Eagle Ford, Fayetteville, and Haynesville shale plays and the Permian basin. The company envisions continued long-term growth in shale liquids. For fisca...
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