Shell, Blackstone to jointly bid for $10 bn US shale assets of BHP: Report

Royal Dutch Shell Plc and US private equity firm Blackstone Group LP are working on a joint $10 billion bid for BHP Billiton Plc's US shale assets, Sky News said on Thursday.

Shell and Blackstone's offer will only be one of several credible proposals that BHP will receive for its US shale operations, Sky News said, citing banking sources.

BHP, Shell and Blackstone declined to comment.

Private equity companies have been active buyers of US shale producing assets in recent years. This week, Devon Energy said it sold some shale-gas assets in Texas for $553 million to a buyer that Tudor Pickering Holt energy analysts identified as a private equity firm. Devon did not disclose the name of the buyer.