BHP Billiton is reviewing the sale of shale assets on the back of pressure from an investor that wants the firm to demerge from its petroleum business entirely.
In a production report, the Anglo-Australian company revealed that its Fayetteville shale gas field in Arkansas was “under review”.
This comes two weeks after Elliott Management, which owns a 4.1% stake in BHP, published an open letter to its directors with a plan to spin-off its arm of the US petroleum business.
The mining and petroleum company rejected the proposals and claimed that it would hurt shareholders.
In the review BHP Billiton chief executive officer, Andrew Mackenzie said: “Everything we do at BHP Billiton is designed to create value for all of our shareholders, today and for the long term.”
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