Page 281 - Annual Report 2020

6.3.2 Production – Petroleum

The table below details Petroleum’s historical net crude oil and condensate, natural gas and natural gas liquids production, primarily by
geographic segment, for each of the three years ended 30 June 2020, 2019 and 2018. We have shown volumes of marketable production Strategic Report
after deduction of applicable royalties, fuel and flare. We have included in the table average production costs per unit of production and
average sales prices for oil and condensate and natural gas for each of those periods.
BHP share of production
Year ended 30 June
2020 2019 2018
Production volumes
Crude oil and condensate (‘000 of barrels)
Australia 14,044 14,365 16,545
United States – Conventional 23,345 28,047 27,476
United States – Onshore US (1) – 6,411 19,464 Governance at BHP
Other (2) 3,823 4,885 4,616
Total crude oil and condensate 41,212 53,708 68,101
Natural gas (billion cubic feet)
Australia 292.6 310.1 325.0
United States – Conventional 8.1 10.4 9.5
United States – Onshore US (1) – 96.3 258.5
Other (2) 58.9 76.2 42.5
Total natural gas 359.6 493.0 635.5
Natural gas liquids (‘000 of barrels)
(3)
Australia 6,462 6,265 6,955 Remuneration Report
United States – Conventional 1,189 1,581 1,725
United States – Onshore US (1) – 3,505 9,560
Other (2) – 42 88
Total NGL (3) 7,651 11,392 18,328
Total production of petroleum products (million barrels of oil equivalent) (4)
Australia 69.3 72.3 77.7
United States – Conventional 25.9 31.4 30.8
United States – Onshore US (1) – 26.0 72.1
Other (2) 13.6 17.6 11.8
Total production of petroleum products 108.8 147.3 192.4 Directors’ Report
Average sales price
Crude oil and condensate (US$ per barrel)
Australia 52.38 69.50 63.69
United States – Conventional 46.69 64.65 58.55
United States – Onshore US (1) – 68.02 59.03
Other (2) 56.05 68.86 61.73
Total crude oil and condensate 49.53 66.73 60.12
Natural gas (US$ per thousand cubic feet)
Australia 5.60 7.00 5.97
United States – Conventional 2.20 3.22 3.12 Financial Statements
United States – Onshore US (1) – 2.90 2.79
Other (2) 2.60 2.87 3.19
Total natural gas 5.02 5.50 4.44
Natural gas liquids (US$ per barrel)
Australia 27.51 36.54 35.99
United States – Conventional 13.44 25.73 27.52
United States – Onshore US (1) – 27.74 22.15 6
Other (2) – 28.66 25.85
Total NGL 25.36 32.17 27.95
Total average production cost (US$ per barrel of oil equivalent) (5)
Australia 7.12 8.98 8.06
United States – Conventional 4.57 5.29 7.43 Additional information
United States – Onshore US (1) – 4.93 6.43
Other (2) 4.94 6.41 9.31
Total average production cost 6.24 7.18 7.43
(1) Production for Onshore US assets shown through the closing date of the divestment in FY2019. Production for Eagle Ford, Permian and Haynesville assets
are shown through 31 October 2018 and production for Fayetteville is shown through 28 September 2018.
(2) Other comprises Algeria, Trinidad and Tobago, and the United Kingdom (divested 30 November 2018).
(3) LPG and ethane are reported as natural gas liquids (NGL).
(4) Total barrels of oil equivalent (boe) conversion is based on the following: 6,000 standard cubic feet (scf) of natural gas equals one boe.
(5) Average production costs include direct and indirect costs relating to the production of hydrocarbons and the foreign exchange effect of translating local currency
denominated costs into US dollars, but excludes ad valorem and severance taxes, and the cost to transport our produced hydrocarbons to the point of sale. Shareholder information

BHP Annual Report 2020 279