BHP Billiton Ltd. (BHP) on Friday said it has agreed to buy Petrohawk Energy Corp. (HK) for US$12.1 billion in an all-cash offer, marking its second acquisition of U.S. shale gas assets this year.

BHP said the two companies have entered into a definitive agreement for BHP to buy Petrohawk for US$38.75 a share. BHP will also assume some debt, bringing the total enterprise value of the deal to US$15.1 billion.

The diversified mining giant said it will fund the acquisition from existing cash resources and a new credit facility, with the transaction expected to close by Sep. 30.

BHP in February agreed to buy assets from U.S. shale gas producer Chesapeake Energy Corp. (CHK) for US$4.75 billion cash.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

Halcon Resources (NYSE:HK)
Historical Stock Chart
From Aug 2024 to Sep 2024 Click Here for more Halcon Resources Charts.
Halcon Resources (NYSE:HK)
Historical Stock Chart
From Sep 2023 to Sep 2024 Click Here for more Halcon Resources Charts.