On 27 July 2018, BHP announced that it has entered into agreements for the sale of its entire interests in the Eagle Ford, Haynesville, Permian and Fayetteville Onshore US oil and gas assets for a combined base consideration of US$ 10.8 billion, payable in cash.BP American Production Company, a wholly owned subsidiary of BP Plc, has agreed to acquire 100% of the issued share capital of Petrohawk Energy Corporation, the BHP subsidiary which holds the Eagle Ford, Haynesville and Permian assets, for a consideration of US$10.5 billion (less customary completion adjustments). One-half of the consideration is payable at completion, with the balance (deferred consideration) being payable in six equal instalments over a six-month period, the first instalment to be paid one month after completion. Payment of the deferred consideration is not subject to any conditions. MMGJ Hugoton III, LLC, a company owned by Merit Energy Company, has agreed to acquire 100% of the issued share capital of BHP Billiton Petroleum (Arkansas) Inc and 100% of the membership interests in BHP Billiton Petroleum (Fayetteville) LLC, which hold the Fayetteville assets, for a total consideration of US$ 0.3 billion (less customary completion adjustments), payable at completion.BHP expects to recognise an impairment charge of approximately US$ 2.8 billion post-tax (or approximately US$ 2.9 billion pre-tax) against the carrying value of its Onshore US assets. The impairment charge will be recognised as an exceptional item in the results for the 2018 financial year.In July 2011, BHP acquired Petrohawk Energy for about US$ 12.1 billion in cash. At the time of the acquisition, Petrohawk had about 1 million net acres of shale gas exploration lands, with an estimated net production of about 158,000 boe/d and proved reserves of 3.4 trillion cubic feet of gas equivalent.
On 27 July 2018, BHP announced that it has entered into agreements for the sale of its entire interests in the Eagle Ford, Haynesville, Permian and Fayetteville Onshore US oil and gas assets for a combined base consideration of US$ 10.8 billion,