BHP Billiton Moves Into the Shale Gas Market

Mike Maher submits:Chesapeake Energy (CHK) and BHP Billiton (BHP) announced yesterday that BHP will acquire all of Chesapeake's Fayetteville assets for $4.75 billion in cash.

Woodside Petroleum Ltd.’s purchase of a stake in Israel’s largest natural gas deposit takes Asia-Pacific oil and gas acquisitions to a record US$99-billion this year, tying the U.S. for the first time. Australia’s second-largest petroleum producer yesterday said it will pay partners including Noble Energy Inc. an initial US$696-million and as much as US$2.3-billion for part of the Leviathan field. Deals by U.S. energy companies have fallen 35% to US$98.7-billion in 2012, while Asia-Pacific purchases increased 3.8%, according to data compiled by Bloomberg.

Zman submits:Item: Chesapeake Energy Corp. (CHK) Sells Fayetteville Shale Asset to BHP Billiton Ltd. (BHP) for $4.75 B

Trefis submits: Founded in 1989, Chesapeake Energy (CHK) has grown to become the second largest producer of natural gas and one of the most active drillers of new wells in the U.S.

In a recent New York Times op-ed, Joseph Kennedy (D-MA) explained why he believes that speculators are responsible for high oil prices, and why pure speculation should be "eliminated":

Chesapeake Energy Corp reported quarterly profit that exceeded Wall Street expectations on Wednesday, as the U.S. oil and gas company produced more crude oil from shale basins like the Eagle Ford in Texas and expenses fell. Chesapeake, under the direction of a board handpicked by its largest investors and interim Chief Executive Steve Dixon, is focused on drilling its best properties and increasing output of more profitable crude oil while lowering spending.

By Global Value Investor:This article introduces two companies in the commodity field that are undervalued based on market metrics. The first company, BP (BP), is a multinational oil and gas firm that has worldwide operations in profitable business segments, such as exploration, production, petrochemicals and distribution.

John Dalt submits:There is a land rush going on in Texas. This isn’t chuck wagons and kids on ponies. It is oil men with briefcases stuffed with cash.