BHP has entered into agreements for the sale of its entire interests in the Eagle Ford, Haynesville, Permian and Fayetteville onshore U.S. oil and gas assets for a combined base consideration of $10.8 billion.

BP American Production Company, a wholly owned subsidiary of BP plc, has agreed to acquire 100 percent of the issued share capital of Petrohawk Energy Corporation, the BHP subsidiary which holds the Eagle Ford, Haynesville and Permian assets, for a consideration of $10.5 billion.

MMGJ Hugoton III, LLC, a company owned by Merit Energy Company, has agreed to acquire 100 percent of the issued share capital of BHP Billiton Petroleum (Arkansas) Inc and 100 percent of the membership interests in BHP Billiton Petroleum (Fayetteville) LLC, which hold the Fayetteville assets, for a total consideration of $0.3 billion.