BHP’s US shale gets low-ball bid

Original article by Matt Chambers
The Australian – Page: 20 : 7-Jun-18

A Bloomberg News report has suggested that BHP Billiton is seeking at least $US10bn for its US shale oil and gas assets if they are sold as a package, and up to $US13bn if they are broken up. However, the report claims that the initial offers have been within the range of $US7bn to $US9bn. Peter O’Connor of Shaw & Partners stresses that first-round bids are typically low and will be increased when final bids are submitted. Some analysts expect the recent rise in the crude oil price to boost the sale price of the shale assets.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, BLOOMBERG LP, SHAW AND PARTNERS LIMITED, UBS HOLDINGS PTY LTD, ELLIOTT MANAGEMENT CORPORATION, PETROHAWK ENERGY CORPORATION, BP PLC, CHEVRON CORPORATION, ROYAL DUTCH SHELL PLC, THE BLACKSTONE GROUP LP

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