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BHP GROUP PLC - BHP completes Shenzi Transaction

Release Date: 06/11/2020 17:50
Code(s): BHP     PDF:  
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BHP completes Shenzi Transaction

BHP Group Plc
Registration number 3196209
Registered in England and Wales
Share code: BHP

Release Time      IMMEDIATE
Date              6 November 2020
Release Number    20/20

BHP completes Shenzi Transaction

BHP today announced that it has completed the transaction to acquire an additional
28 per cent working interest in Shenzi from Hess Corporation (Hess), for US$505
million subject to the typical adjustment to reflect net cash generated from the 1 July
2020 transaction effective date to the close date of 6 November 2020.

The transaction brings BHP’s working interest to 72 per cent and adds approximately
11,000 barrels of oil equivalent per day of production (90 per cent oil) as of the
transaction closing date of 6 November 2020.

Total petroleum production guidance for the 2021 financial year of between 95 and
102 MMboe will be updated at the second quarter Operational Review (released 20
January 2021 AEST) to reflect the additional production from Shenzi and other
operational updates such as Gulf of Mexico hurricane impacts.

Shenzi is a six-lease development in the deepwater Gulf of Mexico and is structured
as a joint ownership: BHP (Operator, 72 per cent interest) and Repsol S.A. (28 per
cent interest).

Sponsor: UBS South Africa (Pty) Limited

Further information on BHP can be found at:

Authorised for lodgement by:
Caroline Cox
Group General Counsel & Company Secretary

Media Relations                                   Investor Relations

Email:                    Email:

Australia and Asia                                Australia and Asia

Gabrielle Notley                                  Tara Dines
Tel: +61 3 9609 3830 Mobile: +61 411 071 715      Tel: +61 3 9609 2222 Mobile: + 61 499 249 005

Europe, Middle East and Africa                    Europe, Middle East and Africa

Neil Burrows                                      James Bell
Tel: +44 20 7802 7484 Mobile: +44 7786 661 683    Tel: +44 20 7802 7144 Mobile: +44 7961 636 432

Americas                                          Americas

Judy Dane                                         Brian Massey
Tel: +1 713 961 8283 Mobile: +1 713 299 5342      Tel: +1 713 296 7919 Mobile: +1 832 870 7677

BHP Group Limited ABN 49 004 028 077              BHP Group plc Registration number 3196209
LEI WZE1WSENV6JSZFK0JC28                          LEI 549300C116EOWV835768
Registered in Australia                           Registered in England and Wales
Registered Office: Level 18, 171 Collins Street   Registered Office: Nova South, 160 Victoria Street
Melbourne Victoria 3000 Australia                 London SW1E 5LB United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015          Tel +44 20 7802 4000 Fax +44 20 7802 4111

Members of the BHP Group which is
headquartered in Australia

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Date: 06-11-2020 05:50:00
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