BHP Billiton Limited’s (ASX: BHP) share climbed up 2.1 per cent on July 27, 2018 following the announcement on the sale of its Onshore US assets. According to the release, the group has agreed to the sale its entire interests in the Eagle Ford, Haynesville, Permian and Fayetteville Onshore US oil and gas assets to BP American Production Company. Of which, BP will pay the $10.5 Bn to BHP for the assets in two parts with the first half payment in cash and the rest amount to be deferred and payable in six equal instalments over the next six-month period. In the second deal, Merit Energy Company has agreed to acquire 100% of issued share capital of BHP’s businesses controlling assets in the Fayetteville region for US$ 0.3 Bn and it will be payable at the completion of the transactions. Both deals are subjected to the regulatory approvals and conditions precedent and are expected to be completed by the end of October 2018. However, the effective date at which the right to economic profits would exchange to the buyers is July 01, 2018.
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