BP BP -1.13% PLC will buy the bulk of BHP Billiton Ltd.’s BHP -1.03% U.S. onshore oil-and-gas unit for $10.5 billion, as the U.K. oil major rebuilds in the U.S. after the Deepwater Horizon disaster and BHP exits a business it has called a costly and mistimed investment. The sale accelerates a reshuffling of assets among global energy companies as oil prices surge to levels not seen since 2014. Chesapeake Energy Corp. CHK -0.23% said Thursday it is selling oil-and-gas fields in Ohio for $2 billion, while Royal Dutch Shell RDS.A -3.67% PLC has nearly completed a $30 billion asset-sale program begun after its roughly $50 billion acquisition of BG Group in 2016. It takes the total value of global oil-and-gas acquisitions unveiled in 2018 to almost $188 billion, closing in on last year’s $287 billion, according to Dealogic. The deal is an important milestone for BP, […]