BHP Billiton aims to triple daily output from new shale gas asset

BHP Billiton announced it has agreed to acquire all of Chesapeake Energy Corporation's （Chesapeake） interests in the Fayetteville Shale, USA, including the midstream pipeline system, for US$4.75 billion, which BHP Billiton expects to fund from the Group's cash resources.

The acquisition is consistent with BHP Billiton's strategy of investing in large, long-life, low cost assets with significant volume growth from future development. It also supports our goal of diversification by geography, customer and product. BHP Billiton will become the operator of Chesapeake's operated interests in the field.