BHP lifts shale spending as oil gains lure drillers to add rigs

SYDNEY: BHP Billiton Ltd, the largest overseas investor in US shale, boosted spending on its onshore oil and gas division as rising prices lure drillers to add rigs and spur a deals spree.

The company boosted spending on the unit to US$165mil in the three months to Dec 31, from US$108mil the previous quarter, according to a BHP statement.