SYDNEY -- BHP will sell its U.S. shale oil and gas interests to BP for $10.5 billion as it concentrates on its core iron ore and copper portfolios, the Anglo-Australian mining giant said Friday.
BHP's transfer of valuable acreage, primarily in Texas, to the British energy multinational represents a major step in its wholesale exit from the shale sector. A unit of U.S.-based Merit Energy agreed to take over BHP's shale business in Arkansas for $300 million.
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
