Australian mining giant BHP Billiton said Wednesday its plans to leave U.S. shale were proceeding as planned, though offshore interest remained high.

Last year, CEO Andrew Mackenzie said the company determined that its U.S. shale assets were not core parts of the portfolio. BHP spent $336 million total on U.S. onshore and development during the second half of 2017 and spending targeting the more lucrative basins, like the Permian shale in Texas, was unchanged from the same period in 2016.

Nevertheless, the company said it was adjusting its capital plans to accommodate the planned exit from U.S. shale.

"The exit process for onshore U.S. is progressing to plan," the company stated Wednesday. "Bids have been received and we aim to announce one or more transactions within the coming months, targeting completion of any transactions by the end of the 2018 calendar year."

The departure comes as U.S. onshore shale production sets new highs. Total onshore U.S. crude oil production averaged 10.5 million barrels per day for the week ending July 6, a 17 percent increase from the same time last year.

Total U.S. oil production could reach 11.8 million barrels per day next year, making the United States a world leader.

This year, BHP said it increased its equity interest in the Samurai project in the Gulf of Mexico, an emerging reservoir. It was the high bidder on three blocks during a recent federal auction.

Conventional U.S. oil production is on pace to decline. The company attributed some of the recent headaches to the impact of Hurricane Harvey last year

"Petroleum capital expenditure for the 2018 financial year increased by 5 percent to $1.6 billion," the company added.

The latest update from the company was an operational review to June 30. Financial results are scheduled for an Aug. 21 release.

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