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BHP Billiton (BHP) follows BP and Encana and writes down the value of the U.S. shale gas assets...

BHP Billiton (BHP) follows BP and Encana and writes down the value of the U.S. shale gas assets that it bought last year from Chesapeake by $2.84B, due to low gas prices. BHP also takes a charge of $450M on the value of its Australian nickel assets for a combined writedown of $3.29B. Significantly, BHP leaves the value of U.S. shale oil and gas assets bought from Petrohawk unchanged. (PR)
Comments (3)
  • Tao Jaxx
    , contributor
    Comments (1473) | Send Message
     
    De-leveraging at work. Where's that inflation again?
    3 Aug 2012, 07:40 AM Reply Like
  • khaz
    , contributor
    Comments (116) | Send Message
     
    I think you meant deflation, not de-leveraging.
    3 Aug 2012, 01:44 PM Reply Like
  • Tao Jaxx
    , contributor
    Comments (1473) | Send Message
     
    I don't think we have deflation, especially not in energy prices, but de-leveraging results from repricing down assets. This is such a case.
    3 Aug 2012, 01:54 PM Reply Like
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