BHP in regular talks on future of U.S. shale assets, CEO says
BHP (BHP -1.1%) is holding talks with competitors on parts of its U.S. shale business, and recognizes it needs alternative strategies for some of the assets, particularly gas-focused operations, CEO Andrew Mackenzie says.
BHP is examining all parts of its portfolio, going “way beyond what has been brought to our attention by Elliott" Management, the CEO says, referring to the activist hedge fund that has proposed a spinoff of all U.S. oil and gas assets and an independent review of BHP’s $22.5B petroleum division.
But Mackenzie says he has not met with Elliott since last month's talks in Barcelona and he declines to comment on whether another meeting is scheduled.
BHP already has indicated its intention to sell parts of a Texas gas field and a potential exit from its Fayetteville shale gas assets in Arkansas.