Shale bears the brunt of BHP's diversity blues

BHP has revised its drilling program in order to conserve cash amid plunging commodity prices, but it remains committed to demerging its non-core assets.

BHP Billiton is moving swiftly and predictably to respond to the extra layer of challenges it faces after the oil price more than halved in the second half of last year, replicating the savage falls in iron ore, coal and copper prices and undermining BHP’s diversified resources model.

The obvious target for conserving cash and capital was BHP’s US onshore oil and gas business, where Andrew Mackenzie had budgeted to invest $US4 billion a year (or about 30 per cent) of his 2014-15 capital expenditures.



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles