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BHP Billiton Limited (BHP)

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  • Jul. 15, 2011, 1:46 PM
    Southwestern Energy (SWN +8%) issues a statement expressing support for a hydraulic fracturing disclosure bill signed into law by Texas Governor Rick Perry. The law requires public disclosure of all the chemicals contained in hydraulic fracturing fluids. The stock is up today on the back of BHP's (BHP -1.3%) acquisition of Petrohawk (HK +63%).
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  • Jul. 15, 2011, 10:39 AM
    BHP's (BHP -1.5%) willingness to pay a 65% premium for Petrohawk (HK +62.7%) shows that mining companies will pay top dollar for natural gas plays (UNG +2.5%), despite the stubbornly low price of the commodity itself. JPMorgan's Mark Lear says acquisition targets could include: RRC +6.6%, BEXP +6.1%, KOG +5.7%. Also surging: COG +7%, CHK +6.7%.
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  • Jul. 15, 2011, 8:58 AM
    Oil-and-gas takes the pole among premarket gainers following Petrohawk's (HK +63%) $12.1B bid from BHP Billiton (BHP -1.6%) as it moves deeper into the U.S. shale. The deal values HK at 50% higher than 30-day prices. LNG +6.2%. CHK +5.6%. FST +4.7%. SD +4.2%. XCO +3.8%. EOG +3.7%. HES +2.3%.
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  • Jul. 15, 2011, 8:56 AM
    Shares of Petrohawk (HK) surge after BHP Billiton (BHP) agrees to buy the firm. Analysts at Citi and KeyBank set a Hold rating for the firm after last night's announcement, and raised price targets. Shares +61% premarket.
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  • Jul. 14, 2011, 10:25 PM
    BHP Billiton (BHP) agrees to buy Petrohawk Energy (HK) for $12.1B in cash, or $38.75/share. The deal gives BHP 1M acres in Texas and Louisiana for shale gas production. HK +63.4% AH, BHP -1.9% in Sydney.
    | 11 Comments
  • Jul. 10, 2011, 6:38 AM
    Australia unveils a controversial plan to tax carbon emissions at 500 firms from next year starting at A$23 ($24.70) a ton. Coal miners like BHP (BHP) and Xstrata (XSRAY.PK) would be eligible for some of the A$1.3B ($1.4B) earmarked to help the most polluting mines adjust, but there are worries this isn't enough.
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  • Jul. 7, 2011, 1:18 PM
    The case for iron ore miners: It costs about $30 for RIO and BHP to mine a ton of ore and load it on a ship in Australia. That ton can be sold for $175 at port in China. With new supplies years off, only a sharp slowdown in China could upset this equation.
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  • Jul. 7, 2011, 11:47 AM
    Copper continues its remarkable run from last Monday when risk markets around the planet ended their slump. The metal is 9.4% higher in less than 8 sessions after tacking on 2.3% today. At $4.43/lb., copper is within sight of its all-time high around $4.60. JJC +2.4%.
    | 1 Comment
  • Jul. 6, 2011, 9:10 AM
    Its booming mining sector facing massive labor shortages, Australia sends workforce development minister Peter Collier on a 10 day tour of the U.K. and Ireland to recruit workers. Labor issues have been one of the causes of delays and cost blowouts in major projects by Exxon (XOM) and BHP recently.
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  • Jul. 5, 2011, 11:06 AM
    If there is a slowdown in China, VALE isn't seeing it, according to CFO Cavalcanti. Combined with the difficulty of bring new iron-ore projects online, it is likely the supply-demand imbalance will continue for the better part of the next decade.
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  • Jul. 1, 2011, 8:57 AM
    Having failed to use its massive cash hoard to acquire the likes of Rio Tinto (RIO) and Potash (POT), BHP Billiton (BHP) is open to continuing its aggressive stock buyback regimen. Since 2004, BHP has spent $22.6B to buy back 15% of its shares.
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  • Jun. 24, 2011, 7:46 AM
    BHP is expected to be hit with a series of strikes at several of its Queensland mines next week, on union demands for better pay. Though not on par with Silicon Valley in the 90s, the Australian mining industry is a giant ATM right now - it's surprising not everyone is getting along.
    | 1 Comment
  • Jun. 21, 2011, 9:36 AM
    Rio Tinto (RIO +2%) exercises its remaining warrants in Ivanhoe Mines (IVN +1.9%) for $502M. The purchase is part of an agreement reached with Ivanhoe in December to take over construction of its Oyu Tolgoi copper and gold mines in Mongolia.
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  • Jun. 21, 2011, 7:19 AM
    Chinese May copper imports drop to a 30 month low, 47% below a year ago and 7% below April, as fabricators choose to draw down inventories instead of bringing in higher priced product. Given the PBOC's monetary tightening, analysts hedge expectations of the usual 2nd half rebound.
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  • Jun. 15, 2011, 8:05 AM
    A 50% fall in Chinese inventories over the past 2 months - from 600K tons to 300K tons - suggests the country will soon have to step up copper imports, giving support to the price. With much of the commodity sector having gotten hit lately, copper has held its own, suggesting this information is priced in.
    | 1 Comment
  • Jun. 9, 2011, 1:11 PM
    If Chinese property is rolling over, global miners' bet on Chinese demand moving across the page from low left to high right on a steep slope and without interruption will be a loser. After that, shipping, where 40% of the entire dry-bulk industry revolves around moving iron to China.
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Company Description
BHP Billiton Ltd is a natural resources company. The Company is engaged in the producing commodities, including iron ore, metallurgical and energy coal, conventional and unconventional oil and gas, copper, aluminium, manganese, uranium, nickel and silver.