BHP's slashed US drilling won't touch shale growth

BHP Billiton does not expect cutting its US oil drilling by 15% and nearly halving its online oil rigs to force oil production to decline, saying the move will do little to change the market dynamics that led to the oil price crash.

In an ominous note in its half-year earnings release this morning, however, BHP said: "We may not recover our investments in mining, oil and gas assets, which may require financial write-downs.


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