BHP Billiton dedicates new regional office

The chief executive of BHP Billiton Petroleum today reaffirmed commitment to working the Haynesville Shale for decades to come at a dedication ceremony for his company’s its regional production center.

The Haynesville Production Unit’s field office, located at 1000 East Preston Avenue in Shreveport, will consolidate the employees and operations of seven stations across the region. Construction on the $15.5 million, 70,000-square-foot facility began in April 2011 under the direction of Petrohawk Energy Corporation, which was acquired by BHP Billiton later that year.

“I tell everyone our grandchildren will be drilling the Haynesville Shale. It’s a true treasure,” said BHP Billiton chief executive Michael Yeager. “The heart and soul of our operation here will come from this office.”

The dedication event hosted many local politicians and administrative officials, as well as dozens of BHP Billiton executives and local production agents. Yeager thanked them for fostering a strong business environment and for seeing the potential of American natural gas as a future fuel.

Though production on the Haynesville Shale has decreased dramatically over the course of the year, Yeager said gas prices will eventually return to a profitable level and bring oil and gas firms roaring back to the area.

“The wells we can drill on the Haynesville are some of the most productive we can build,” he said. “We’re strong. We have staying power. We won’t worry about gas prices over the next 90 days. We’re here for the long term, obviously. That’s why this building is here.”