Deals
BHP Sees Faster Shale Sale in Race to Exit $10 Billion Unit
- Miner plans to evaluate bids for U.S. assets in Sept. quarter
- Completed transactions could be announced before year’s end
BHP Speeds Up Plans to Exit U.S. Shale Unit
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BHP Billiton Ltd. is accelerating plans to exit its $10 billion U.S. shale unit, flagging that deals could be announced before the end of the year.
The company, which has opened a data room for the Fayetteville field and will open others before the end of March, expects initial bids for the assets in the June quarter, according to a statement Tuesday. As recently as November it had set out a less optimistic timeline, saying then it hoped to offload the operations within two years.