Australian company writes down value of U.S. shale assets
Thursday, January 28, 2016
by Matt Warnock
BHP Billiton expects to take a write-down of $4.9 billion on the value of its U.S. shale assets due to the fall in oil prices, reports IOL. The news site says the Australia-based company, the biggest overseas investor in the U.S. shale oil and gas industry, is cutting capital expenditures and seeking other savings “as it grapples with the slide in prices of metals and energy.”