Jul
26
The World’s Biggest Mining Company Is Selling Out of U.S. Shale
By-
Oil giant to pay $10.5 billion to add acreage, enter Permian
- World’s top miner to complete exit from shale with second deal
BP Plc agreed to pay $10.5 billion, its biggest acquisition in almost two decades, for most of BHP Billiton Ltd.’s onshore U.S. oil and natural gas assets, including in the prized Permian Basin.
The deal gives the London-based energy giant a key position in the Permian, the world’s fastest-growing major oil region that’s upended global markets, and a possible signal that Big Oil has mostly rebounded from the 2014-2016 price crash. BP will also add positions in the Eagle Ford and Haynesville basins in Texas and Louisiana…
The World’s Biggest Mining Company Is Selling Out of U.S. Shale
