BHP reacted swiftly to the collapse in oil price by increasing capital efficiency, accelerating asset high-grading and making cuts across the business. It looks to address weaknesses in its portfolio, in particular a lack of greenfield deepwater and international development opportunities. In 2018, BHP sold its entire unconventional portfolio and made the strategic decision to return focus to high-grading the conventional portfolio. BHP has two heartland conventional E&P regions – the NW Shelf of Australia and the deepwater US Gulf of Mexico. BHP's conventional exploration has underperformed, but the company is committed to turning this around, securing new acreage and rigs, and maintaining spend.