BHP Moves into US Shale Gas with $4.75bn Deal

Telegraph UK reports that BHP Billiton (NYSE:BHP) has purchased the Arkansas shale gas operations of Chesapeake Energy (NYSE:CHK) for $4.75bn in cash.

The market news is quoted as saying:

The Chesapeake deal will add more than 10 trillion cubic feet of gas to BHP’s resources.

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