BHP has been seeking to diversify their business as demand for alternative energy sources increases BHP Billiton has boosted its presence in the market of gas shale booming as it agreed to buy U.S. firm Petrohawk energy.BHP will pay $12. 1bn (￡ 7 million) in cash, giving it access to assets of gas and oil shale on a million hectares in Texas and Louisiana.
The agreement comes a few months after BHP has agreed to buy the business of the gas in Arkansas Chesapeake Energy for. 75bn $4.
Increased demand for shale gas and other fuels have increased costs.
BHP said the agreement provides greater exposure to the world's largest energy market and extends the geographical company and was extended to the client.
"Continuing potential untapped reading the main storythe events we have seen in the Middle East and North Africa have increased the hunt for the miners of non-conventional sources of oil and gas"final quote David Lennox Fat prophets slate extracted gas from shale rocks while a process called "fracking".
United States has large deposits of rocks and has grown the market for shale gas from efforts to extract it became viable to commercial scale.
Some analysts say that the ability to extract the shale gas has given a more stable energy security, long-term United States and has also played a key role in keeping a lid on domestic gas prices.
As demand rises, companies like BHP have been eager to increase their participation in the American market of natural gas, which is valued at almost $99tn.
Analysts said that the acquisition of Petrohawk help BHP to expand its operations at a faster pace.
"Have already indicated they will accelerate the development of the projects," said David Lennox an analyst of mining and resources with research home Fat prophets.
"They are looking to invest close to $5bn 2015 to develop these facilities".
Stability factorAlthough there has been a boost for companies to capture a part of the growing market for non-conventional energy, analysts said geopolitical concerns also have played a role in shaping their policies.
"The events we have seen in the Middle East and North Africa have increased the search for unconventional gas miners and sources of oil in more stable areas," said Mr Lennox from Fat prophets.
Recent political instability and social countries as Libya saw oil supplies are interrupted and the rise of fuels.
There is also concern that demand for fuel is increasing at a much faster rate than supplies.
Mr Lennox said that a combination of these factors has been the speed of the companies in their search for alternative sources of energy security.
"That process is already occurring".
"We must look at what is happening in the United States shale deposits, being now most of them", said Mr Lennox.
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