After a long wait, BHP Billiton has announced the sale of its US shale assets – bought for c.$20bn at the peak of the cycle in 2011 – for a cash consideration of $10.8bn. While the Eagle Ford, Haynesville and Permian assets will be sold to BP Plc for $10.5bn, the Fayetteville assets will go to MMGJ Hugoton III LLC – a company owned by Merit Energy Company – for $0.3bn. Half of the consideration from BP would be paid when the deal is completed while the other half would
27 Jul 2018
BHP finally dumps the US shale assets
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BHP finally dumps the US shale assets
BHP Group Ltd (BHP:LON) | 2,344 351.7 0.6% | Mkt Cap: 118,837m
- Published:
27 Jul 2018 -
Author:
Varun Sikka -
Pages:
2
After a long wait, BHP Billiton has announced the sale of its US shale assets – bought for c.$20bn at the peak of the cycle in 2011 – for a cash consideration of $10.8bn. While the Eagle Ford, Haynesville and Permian assets will be sold to BP Plc for $10.5bn, the Fayetteville assets will go to MMGJ Hugoton III LLC – a company owned by Merit Energy Company – for $0.3bn. Half of the consideration from BP would be paid when the deal is completed while the other half would