BHP exec: Shale success requires rethinking business approach

06/09/2014
Rachael Seeley Special Projects Big Oil can be successful in shale but it requires a relentless focus on improving productivity and an ability to be nimble, said Rod Skaufel, president of North American shale for Melbourne-based BHP Billiton. Speaking to a press briefing June 2 in Houston, Skaufel said BHP was best known for its ability to execute complex deepwater developments when it entered into US shale in 2011. BHP's first major shale acquisition was Chesapeake Energy Corp.'s assets in the Fayetteville shale in Arkansas for $4.8 billion, followed by a $12.1 billion merger with Eagle Ford shale pioneer Petrohawk Energy Corp. Skaufel said shale requires a different business approach fr...
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