BHP Billiton says onshore U.S. to be self-funding in 2016

LONDON Tue Dec 10, 2013 9:25am EST

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LONDON Dec 10 (Reuters) - BHP Billiton, the world's largest miner, said on Tuesday its onshore U.S. oil and gas assets would be self-funding in the 2016 financial year if it hits production targets, generating free cash flow of almost $3 billion in 2020.

BHP, which is holding investor presentations on its petroleum business in Houston, said liquids production in its shale business would grow to 200,000 barrels per day in the 2017 financial year, with total onshore U.S. production reaching 500,000 barrels of oil equivalent per day.

BHP also said it would continue to "simplify" its petroleum division, focusing future investment on Australia, the United States and, potentially, Trinidad and Tobago.

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