BHP Group Limited (BHP)

[eFinanceMarkets]

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.