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AUSTRALIA

BHP wipes off half of Chesapeake investment

BHP Billiton has confirmed what many have prophesied – that the Anglo Australian major will have to write down its shale assets in the US to the tune of $US2.84 billion ($A2.7 billion), more than half the $5 billion paid for them.

James McGrath
BHP wipes off half of Chesapeake investment

Putting on a brave face for the market, it said the impairment would only affect its Fayetteville shale assets acquired from Chesapeake Energy in February last year for $5 billion but not the more liquids-rich...

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