BHP Billiton is unfazed by U.S. natural gas glut

01/24/2012 | Sydney Morning Herald (Australia), The

BHP Billiton seems eager to continue with its U.S. drilling program, observers say, despite weak natural gas prices that have forced companies such as Chesapeake Energy to curb spending on gas drilling. BHP said it will proceed with a plan to spend $4.5 billion on shale exploration this financial year. The program involves boosting BHP's drilling rigs in the Fayetteville and Eagle Ford shale formations.

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Sydney Morning Herald (Australia), The

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