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.

BHP wipes off half of Chesapeake investment BHP wipes off half of Chesapeake investment BHP wipes off half of Chesapeake investment BHP wipes off half of Chesapeake investment 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

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