Drilling & production - 18 October 2012

Shell has revealed that it has begun construction of the giant, first-of-a-kind Prelude Floating Liquefied Natural Gas (FLNG) facility.

BHP Billiton, the Anglo-Australian mining giant, has announced “robust” operating results for the third quarter, with strong performances at its Queensland Coal operations and thermal coal production “higher than all comparable periods” across the BHP Billiton Energy Coal portfolio.

Xstrata has announced its third quarter results, with coal production up compared the same quarter last year. Lower prices have hit coal earnings, however, leading the company to initiate a planned restructuring of its Australian business to bring down costs.

Brazilian mining giant, Vale, has announced its third quarter results. Coal production was down on the second quarter due to a slower pace of ramp-up at the company’s Moatize mine in Mozambique. Australian production increased on second quarter as geological conditions improved.

ExxonMobil Canada today announced an agreement with Celtic Exploration Ltd. under which an ExxonMobil Canada affiliate will acquire Celtic.