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BHP to open data rooms for US shale fields, deals may be announced before year-end

By: Mariaan Webb     Updated 7 hours ago Mining giant BHP will open the data rooms for its onshore US assets next month, the group said on Tuesday, as it confirmed that deals may be announced before the end of this year. Under pressure from activist investors, including Elliott Management, to get out of the shale business that it... 

BHP is said to mull shale split to speed $10bn sale

By: Bloomberg     1st February 2018 BHP Billiton, seeking to accelerate the sale of its US shale unit, is prepared to offer the assets in as many as seven packages, including three in the prized Permian Basin, according to people with knowledge of the producer’s plans. The world’s biggest miner continues to favour a sale of the... 

BHP CEO says he has not met with Elliott since Barcelona

By: Reuters     5th June 2017 BHP Billiton CEO Andrew Mackenzie said on Monday he has not met with activist hedge fund Elliott Management since their talks in Barcelona last month and declined to comment on whether another meeting was scheduled. Elliott, a New York-based fund that has built up a 4.1% stake in BHP, is pushing... 

BHP CEO tells investors options for US shale under review

By: Bloomberg     29th May 2017 BHP Billiton is assuring shareholders that it’s exploring numerous options for its contentious US shale unit amid pressure from activist investor Elliott Management to carry out a wider review of petroleum operations. In a series of meetings in Australia last week, CEO Andrew Mackenzie stressed... 

BHP cuts coking coal, copper guidance, narrows iron-ore range

By: Esmarie Swanepoel     26th April 2017 Diversified major BHP Billiton on Wednesday lowered its metallurgical coal and copper production targets, narrowed its iron-ore guidance and said that it plans to sell some noncore US shale gas acreage. The mining major reduced its metallurgical coal production guidance for the 2017 financial... 

BHP targets specific savings at core projects

By: Esmarie Swanepoel     27th October 2014 Mining giant BHP Billiton on Monday expanded on its projected $3.5-billion productivity gains, with CEO Andrew Mackenzie explaining that the simplified portfolio would reduce operating costs and improve capital efficiency. “We are confident that our productivity drive will be accelerated by the... 

Arkansas lawsuits test fracking wastewater link to quakes 

By: Reuters     27th August 2013 Tony Davis, a 54-year-old construction worker in central Arkansas, said he welcomed the boom in natural gas drilling that brought jobs and new businesses to his hometown starting about a decade ago. But that was before the earth shook. In 2010 and 2011, the quiet farming town of Greenbrier,... 

Nasser defends BHP’s US gas investments

By: Esmarie Swanepoel     29th November 2012 Diversified major BHP Billiton chairperson Jac Nasser on Thursday came out in defence of the company’s decision to invest in the oil and gas markets, saying that the group was taking a long-term view. “It is important to view the long-term investments we make, like onshore oil and gas and... 

BHP’s Petrohawk sinks to $134m nine-month loss

By: Esmarie Swanepoel     8th November 2012 Diversified miner BHP Billiton’s US gas assets have again disappointed, with Petrohawk Energy reporting a net loss of $134.4-million for the nine months to September. This compared with net profit of $124.4-million in the previous corresponding period.  

BHP to spend $6.5bn on boosting petroleum output

By: Esmarie Swanepoel     5th September 2012 Mining giant BHP Billiton has sharpened its focus on its gas assets, with the miner announcing it would spend some $6.5-billion on its petroleum operations during 2013. Speaking in New York overnight, BHP CEO for petroleum, Michael Yeager, said that the majority of this spend would go towards... 

BHP profit falls 35% on weak commodity markets, cost pressures

By: Esmarie Swanepoel     22nd August 2012 Mining giant BHP Billiton on Wednesday reported a 15% decline in underlying earnings before interest and tax for the financial year ended June, as well as a 21% decline in attributable profit. Underlying earnings for the 12 months reached $27.2-billion, compared with the $31.9-billion, while... 

Investment caution abounds, Anglo cuts capital spend, BHP bosses forego bonuses

By: Martin Creamer     10th August 2012 Capital investment caution abounds at the moment; Anglo American is making capital expenditure;BHP Billiton top-brass are foregoing their bonuses for 2012 to acknowledge ther responsibility in financial write-offs. 

Kloppers gives up bonus as BHP takes $3.3bn charge on shale, nickel 

By: Esmarie Swanepoel     3rd August 2012 BHP Billiton CEO Marius Kloppers would forgo his bonus for 2012, after the diversified miner reported an impairment of $2.84-billion on its US shale gas assets, and $450-million on its Nickel West assets, in Australia. The miner reported on Friday that low US gas prices, owing to a short-term... 

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