By: Marissa Hall, Shale Plays Media
Three years after the purchase of Petrohawk Energy and a portion of Chesapeake Energy to gain a presence in shale plays in the southern United States, it appears that BHP Billiton’s $20 billion investment isn’t leading to ruin. According to an article by Christopher Helman in Forbes, after a rough first year, they finally found their footing in the previously untapped industry for the mining company, which “had never ‘fracked’ a single well.” Rod Skaufel, president of shale operations for the Australia-based company, says profits should begin to arrive in 2016. Skaufel also reports that the company’s position in the shale plays, particularly Eagle Ford, Permian, and Haynesville, is more than promising. All in all, BHP has made itself a strong authority on fracking in Texas in the past three years, much to the surprise of its investors.
Check out Helman’s full article: Maybe BHP Billiton’s $20B Fracking Bet Wasn’t A Blunder After All