BHP Gets Bids Valuing Shale Unit at Up to $9 Billion

BHP Billiton Ltd. has received first-round bids for its U.S. shale portfolio from oil majors including BP Plc and Chevron Corp., valuing the unit at $7 billion to $9 billion, people familiar with the matter said. Royal Dutch Shell Plc, partnering with private equity firm Blackstone Group LP, also submitted a bid for the entire unit late in May, said the people, asking not to be identified because the information is private. Chevron has teamed up with another private equity firm, while BP is pursuing them alone, the people said.