KEYFACT Energy
BHP has completed the sale of its Fayetteville Onshore US gas assets to a wholly owned subsidiary of Merit Energy Company. Merit acquired 100% of the issued share capital of BHP Billiton Petroleum (Arkansas) and 100% of the membership interests in BHP Billiton Petroleum (Fayetteville), which hold the Fayetteville assets, for a total consideration of US$0.3 billion.
Completion of the sale of BHP’s interests in the Eagle Ford, Haynesville and Permian Onshore US oil and gas assets to BP American Production Company (a subsidiary of BP) is expected to occur by the end of October 2018. Completion of that sale is subject to the satisfaction of customary regulatory approvals and conditions precedent.