1. BHP Hires Barclays, Citi for U.S. Shale Gas Divestment

    BHP Hires Barclays, Citi for U.S. Shale Gas Divestment

    LONDON (Reuters) - BHP Billiton ( BHP.AX ) ( BLT.L ), the world's largest miner, has hired Barclays ( BARC.L ) and Citigroup ( C.N ) to help it exit its underperforming U.S. shale oil and gas business, which could fetch around $10 billion, two banking sources said...

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    1. The sellside advisors have only invited strategic players to bid for the onshore business at this point, which is likely to be sold in separate packages, some of which will draw more interest than others.
    2. Companies like Chevron, Occidental and Exxon Mobil are all capable of doing this kind of deal, so the Permian and Eagle Ford assets will be an easy sale.
    3. Gas-rich Haynesville and Fayetteville may be less attractive.
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