BHP Billiton: Calypso drilling programme yields gas

BHP Billiton announced that it encountered hydrocarbons in all its appraisal holes in Trinidad and Tobago’s Calypso appraisal drilling programme, in its 2022 operational performance and financial report.

The report said the drilling programme ended on December 20 and resulted in discoveries in all holes.

“Bongos-3 confirmed volumes downdip (located down a slope) of prior penetrations and Bongos-4 established volumes in a new segment,” the report said.

The results are currently under evaluation.

BHP’s report added that the merger with Woodside Petroleum, which was announced in June last year, may be completed in June. The merger will see Woodside acquire BHP Petroleum in exchange for new Woodside shares.

“Completion of the merger is subject to satisfaction of conditions including regulatory and competition authority approvals and approval by Woodside’s shareholders.”

The report said the process remains on track, with the Australian Competition and Consumer Commission provided informal clearance of the merger in December 2021. Woodside is pursuing a standard listing on the London Stock Exchange as well as a listing of American Depositary Receipts on the New York Stock Exchange for trading in US markets.