BHP Billiton to cut shale drilling budget and rigs

BHP Billitonis to cut shale drilling budget and rigs and will pare the  number of rigs it is using in the US to 16 from 26 by June and would update the market on its revised shale drilling budget, originally set at $4bn for this financial year, next month. It plans to focus on drilling in the liquids-rich Black Hawk basin, while cutting back in the Permian and Hawkville acreage