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BHP Billiton puts U.S. shale gas assets back on the block

Published 04/26/2017, 08:17 AM
© Reuters.  BHP Billiton puts U.S. shale gas assets back on the block
  • BHP Billiton (NYSE:BHP) says it has put its Fayetteville shale gas assets in the U.S. back up for sale, as it seeks to focus on more lucrative opportunities in oil.
  • In its latest operations review, BHP says the Fayetteville field in Arkansas is under review and that it is "considering all options, including divestment."
  • In its decision to revise the sale, BHP denies any link to Elliott Management's call earlier this month for it to spin off its petroleum division.
  • Meanwhile, BHP cuts its guidance for full-year copper production by 17% to 1.33M-1.36M metric tons following a six-week strike at the Escondida mine, the world's biggest copper mine, that ended in late March.
  • BHP also reduced its coking coal guidance by 9% to 39M-41M metric tons and trimmed its iron ore output guidance to 268M-272M metric tons.
  • BHP -0.7% premarket.
  • Now read: Barbarians At The Gate - The Battle For BHP Billiton


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