BHP Billiton Ltd. (BHP) said Friday its petroleum arm is on track to deliver 10% compound annual growth in production volumes for the remainder of the decade after completing the US$12.1 billion acquisition of U.S. shale company Petrohawk Energy Corp. (HK).

Petrohawk has requested the New York Stock Exchange to take steps with the U.S. Securities and Exchange Commission to delist its stock, the Anglo-Australian resources company said in a statement.

"We are excited that Petrohawk's sizeable U.S. workforce is joining our talented group of professionals and we are ready to grow this business over the long-term," said Michael Yeager, chief executive of BHP Billiton Petroleum.

The purchase of Petrohawk is BHP's second venture into the U.S. shale industry after it acquired Chesapeake Energy Corp.'s (CHK) Fayetteville shale gas holdings in Arkansas and some pipeline assets in a $4.75 billion deal in February. Petrohawk's assets cover about one million acres in Texas and Louisiana.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com

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