BHP Billiton spells out future for ‘red hot’ shale gas

Australian oil and gas producer BHP Billiton is planning a huge investment spree in shale gas. Group and chief executive J Michael Yeager (pictured) told investors yesterday about plans to […]

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By Vicky Ellis

Australian oil and gas producer BHP Billiton is planning a huge investment spree in shale gas. Group and chief executive J Michael Yeager (pictured) told investors yesterday about plans to capitalise on the “red hot” shale gas industry.

Talking up the huge potential for shale, he referred to one BHP site at Haynesville in the United States which is now producing almost seven billion cubic feet per day (bcfd) within three years of opening.

He highlighted the short time to production as well as speed of payback and better flexibility of shale gas versus conventional gas.