BHP runs out of gas
Today, BHP Billiton (ASX: BHP) announced a US$10 billion after tax write down on its onshore United States (US) oil and gas assets resulting from an oil price fall of more than 30% over the last three months. The company said it expects to take an impairment charge of US$7.2 billion (A$10.3 billion) in its half year results, its second writedown on its US oil and gas assets in six months. BHP Chief Executive Andrew Mackenzie said oil and gas prices were behind the writedown as markets have been “significantly weaker than the industry expected”. BHP shares closed down 8.0% for the week. We do not own BHP in the investment portfolio.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap (ASX: WMI), WAM Alternative Assets (ASX: WMA), WAM Strategic Value (ASX: WAR), WAM Research (ASX: WAX) and WAM Active (ASX: WAA) - and the Wilson Asset Management Leaders Fund. Wilson Asset Management invests over $5 billion on behalf of more than 130,000 retail investors. Wilson Asset Management created and is the lead supporter of the first LICs to deliver both investment and social returns: Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG).
2 topics
1 stock mentioned
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
Comments
Comments
Sign In or Join Free to comment
most popular
Equities
Buy Hold Sell: Quality vs value across 4 ASX pairs
Livewire Markets
Equities
No Country for Old Men
Schroders