Oil and gas industry

Compared with those of other mining giant BHP billiton has not stingy investment in oil and gas industry.In 2011, the company to reduce the expenditure of the other projects,asme b16.5 slip on flanges a105 hit $20 billion takeover of the shale project, including spending $4.75 billion to buy the gas producer Chesapeake (Chesapeake) part of the assets, although affected by the beauty of natural gas prices fell sharply, the assets of failed to bring profit to BHP billiton, can actually make the loss of more than $2.8 billion m, but BHP is still in the same year, and the price is for the unconventional resources in Texas and Louisiana.
McKenzie has been bullish on shale industry, he before entering the mining sector, who used to work in BP (BP), the low risk state investment large, long-term resource projects.BHP billiton oil and potash, head of Tim carter said: "for decades, conventional oil and gas business, especially the Marine oil and gas business has become the basis of our oil business, the current company onshore unconventional areas are in a strong position in the United States, the country has become the main source of cash for another company."