BP plc’s $10.5 billion move to acquire most of BHP Billiton’s shale acreage in North America ‘signals a bold return by the UK oil giant to the lower 48 states,’ according to Rystad Energy. BP plc’s $10.5 billion move to acquire most of BHP Billiton’s shale acreage in North America “signals a bold return by the UK oil giant to the lower 48 states,” according to Rystad Energy. In a statement posted on its website, the energy research company said the action gives BP a “prominent position in the red-hot North American tight oil play” and “secure access to new projects that can contribute on a large scale to growing its production”. Rystad Energy estimates that BHP’s acreage in the Eagle Ford, Permian and Haynesville basins holds risked recoverable resources of about 3.6 billion barrels of oil equivalent, with oil representing about 2 billion barrels. According to fundamental analysis […]