BHP bid for Petrohawk gives wings to shale companies
(Reuters) - Shares of U.S. oil and gas producers that own shale acreages rose on Friday, following major global miner BHP Billiton's bid to buy Petrohawk Energy at a hefty premium.
BHP will buy Petrohawk for $12.1 billion, paying a premium of 65 percent to raise its presence in shale fields, which are underground rock formations rich in oil and gas.
