re: Ann: BHP Billiton and Petrohawk Announce ... Highlights:
* Huge, massive resource
* 2011 net production ~ 1Bcfe/d which is ~ 1/60 of US market
* Strong production growth with most of the resource yet to be developed
* EPS positive within one year
What I like about shale gas compared to offshore oil & gas is summarised in slide 16:
* Geological risk for shale is low compared to offshore oil & gas
* Time to first production is months vs years
* Payback is months vs years
* Significant flexibilty
* Substantial expandability
I think this will be a positive not just for BHP, but also for the nascent shale gas/coal gas industries in Australia.
Ann: BHP Billiton and Petrohawk Announce Merger A, page-4
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