Share price history
BHP’s current uptrend commenced in 2016, after losing 70% of its share price value from 2014. In February 2011, BHP announced its arrival as a big and very ambitious player in the US shale oil game when it put down $6bn to buy the rights from Chesapeake Energy to around 500 000 acres of prospective shale gas reserves at Lafayette in Arkansas. This investment proved a bad bet that largely contributed to the record $6.4bn annual loss reported for 12 months through June 2016, compared with a net profit of $1.91bn a year earlier. BHP’s earnings also took hits from a deadly disaster at an iron ore mine in Brazil and weak oil and natural gas markets. BHP’s petroleum business, which was intended to help it through bad times in metals markets, lost $7.72bn after write-downs.
Current outlook
This story is from the 14 May 2021 edition of Finweek English.
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This story is from the 14 May 2021 edition of Finweek English.
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