Pushing Higher, page-7

Re BHP exit from US shale, three reasons:
1. remove corporate sore (bought way too high)
2. not consistent with other BHP strategy of low cost, long life (US shale requires a lot of ongoing development capital as well and field decline is high)
3. get some excess $$ to "give back" to shareholders (by buy-back and divs)
I think this is not a good timing signal, though I concur with your openness to considering when to exit/selldown oil and gas shares.
Seems to me that we do not yet have enough market "belief" in USD$80+ Oil for it to have topped!