BG Group Takes Billion Dollar Bite of US Shale

BG Group agreed to pay $1 billion for a stake in Dallas based Exco Resources Inc.'s shale gas properties in Texas and Louisiana, becoming the latest European oil major to move into U.S. unconventional natural gas. The deal follows similar moves by StatoilHydro ASA of Norway and the British oil major BP PLC, who both recently acquired interests in shale gas fields in the U.S., one of the hottest new hydrocarbon plays.....Complete Story