BHP has made it clear they will cut capex where needed in order to maintain their progressive dividend.

Jeremy Sussman

Categorized in : Energy

They're still, by and large, in cost-cutting mode and hunkering down, even though conditions have improved over the last five or six months.

BHP's announcement to cut the rig count by 10 down to 16 is roughly in line with general expectations given the precipitous fall in oil and natgas prices as well.