Anglo-Australian giant BHP plans to exit US shale entirely after declaring the assets it holds as “non-core” to its business.
During an earnings call this week, chief executive Andrew Mackenzie said he would prefer to sell the assets through “a relatively small number of trade sales” but remained open to exploring other avenues.
“There is an execution risk around (trade sales) so, in the interest of making sure we can do things relatively quickly, I don’t want to eliminate other ways in which we could exit these businesses, including things like de-mergers, IPOs or vending into special vehicles and so on,” he explained.
