Onshore Shale Sale Ends Painful Chapter for BHP
We maintain our AUD 24.50 per share fair value estimate for no-moat-rated BHP following the sale of its shale assets for USD 10.8 billion. The company expects net aftertax cash proceeds of USD 10.7 billion with only a small cash tax payment associated with the sale. This is in line with our estimate of the value of the assets. The proceeds equate to USD 2.00 per share, equivalent to 11% of our fair value estimate. With the balance sheet in excellent shape and net debt towards the lower end of th...BHP Billiton is a global resources company. Co. operates under a Dual Listed Company (DLC) structure, which consists of the BHP Billiton Limited Group and the BHP Billiton Plc Group, operating as a single economic entity. As of June 30 2017, Co. operated four reportable segments: Petroleum, which is involved in the exploration, development and production of oil and gas; Copper, which is involved in the mining of copper, silver, lead, zinc, molybdenum, uranium and gold; Iron ore, which is involved in the mining of iron ore; and Coal, which is involved in the mining of metallurgical coal and thermal (energy) coal.
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