BHP Process To Unload U.S. Shale Operations Could Take Until 2019
June 5, 2018
The planned exit of BHP Billiton Ltd from its U.S. shale business has drawn oil companies and private equity firms into a competition that may have no clear winner until late this year or early next year, according to people familiar with the negotiations.
BHP, the world’s largest miner, said in August that it would exit its U.S. shale oil and gas business after pressure from activist hedge fund Elliott Management, which owns a stake in the company and argued the unit was a drag on BHP’s value.