BHP sells BP's oil and gas assets in the US for $ 10.5bn

The Anglo-Australian mining giant BHP announced Friday the sale to BP of its oil and gas badets in the United States for 10.5 billion US dollars.

BHP, the world's largest mining group, said the proceeds from the sale to BP American Production Company, a branch of British BP, would go to its shareholders.

"We are pleased to have reached an agreement to sell all of our oil and shale gas badets through two simple transactions that provide security for our shareholders and employees, "said Andrew Mackenzie, BHP's Managing Director.

" The sale of our US onshore badets are consistent with our long-term plan to simplify and strengthen our portfolio to deliver value and ROI for shareholders in the coming decades, "added Mr. ackenzie.

The Anglo-Australian company had spent US $ 20 billion in 2011 to acquire these US badets in oil and shale gas, but the sector subsequently experienced a decline in prices that affected profits

This evolution led BHP to announce last year its intention to dispose of these badets.

Pursuant to the agreement announced Friday, BP American Production Company will purchase $ 10.5 billion Petrohawk Energy Corporation, which owns BHP's badets at Eagle Ford, Haynesville and Permian

In a separate transaction, a division of Merit Energy Company will purchase BHP Billiton Petroleum (Arkansas) Inc. and BHP Billiton Petroleum (Fayetteville) for US $ 300 million

Both sales are expected to be completed by the end of October

mp / dm / qan / plh / lab