This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

First Oil Production From Pyrenees Development Offshore Western Australia

The Pyrenees project consists of the development of the Crosby, Ravensworth and Stickle oil fields which were discovered in 2003 at water depths ranging from 169 metres (555 feet) to 250 metres (820 feet.) The fields are developed with very long horizontal wells drilled from the sea floor and then tied back to the Pyrenees FPSO via an extensive gathering system. Water injection is incorporated to enhance oil recovery.

The Pyrenees FPSO is a double-hulled vessel with a disconnectable turret mooring system. Gas produced by the development will be reinjected into the reservoir of the nearby Macedon gas field for future recovery.

The project is located in production license area WA-42-L. The joint venture partners are BHP Billiton (71.43% and Operator) and Apache Corporation (28.57%).

Part of the Ravensworth field is located in production license WA-43-L where BHP Billiton, Operator, holds 39.999%. The Joint Venture partners in WA-43-L are Apache Corporation (31.501%) and INPEX (28.5%). This separate segment of the Pyrenees project will have its own wells and gathering system.

A commercial arrangement has been made between the WA-42-L and WA-43-L Joint Ventures, whereby oil from production license WA-43-L will be produced into the WA-42-L owned facility via a tie-in agreement. Production from the WA-43-L areas will commence later in 2010 calendar year.

Further information on BHP Billiton can be found on our Internet site: www.bhpbilliton.com



Copyright Business Wire 2010
2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs