BHP sells US onshore oil and gas assets for heavy loss

Original article by Stephen Letts
abc.net.au – Page: Online : 27-Jul-18

BHP Billiton has advised that it has sold its US onshore oil and gas assets for a total of $US10.8 billion ($14.6 billion). BP is to acquire BHP’s Eagleford, Haynesville and Permian fields, while Merit Energy will buy the remainder of BHP’s Fayetteville assets. BHP has invested $50 billion in its US onshore oil and gas assets since 2011. BHP CEO Andrew MacKenzie said the sale would help to reduce its debt, with the net proceeds to be returned to its shareholders.

CORPORATES
BHP BILLITON LIMITED – ASX BHP BP PLC MERIT ENERGY

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