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BRIEF-BHP Billiton sees impairment charge of US$2 bln post-tax against carrying value of onshore US assets

Published 15/07/2015, 10:56 am
© Reuters.  BRIEF-BHP Billiton sees impairment charge of US$2 bln post-tax against carrying value of onshore US assets
BHP
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July 15 (Reuters) - BHP Billiton Ltd BHP.AX :

* Onshore US asset review BHP.AX

* Following this impairment, the group's onshore US business will have net operating assets of approximately US$24 billion

* Expects to recognise impairment charge of US$2 billion post-tax against carrying value of onshore US assets as an exceptional item in 2015 FY results

* Plans to invest US$1.5 billion in the onshore US in the 2016 financial year

* At an oil price of US$60 per barrel and gas price of US$3.00 per mscf, group expects onshore US business to be free cash flow positive in 2016 FY

* Sees ultimate potential of hawkville field at over 150 kboe/d, up from previous estimate of 100 kboe/d

* Source text for Eikon ID:nASX4hLKPv

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