BHP eyes 40% cut in its US land rigs by midyear

摘要

Houston—Australia’s BHP Billiton will slash its US land rig count of 26 about 40% by the end of its current fiscal year in response to lower commodity prices, its CEO said late Tuesday. “We have moved quickly in response to lower prices,” Andrew Mackenzie said in releasing his company’s latest quarterly financial report. The company’s fiscal year ends June 30. Oil prices in the US have slid by more than 50% in the last seven months from a recent peak in mid-June 2014 of $107/barrel. On Wednesday, NYMEX crude oil futures closed up $1.31 to $47.78/b.