BHP Could Eye Cobalt, Noble, Paper Says

BHP Billiton BHP, the world's largest mining company, could take a look at other U.S.-based oil firms if it decides against pursuing Anadarko Petroleum APC, the Sydney Morning Herald reported. The Daily Mail reported last week that BHP may offer up to $90 a share for Anadarko, the Texas-based independent oil and gas producer, well above the $76.16 a share Anadarko closed at on Friday. That would value Anadarko at $45 billion, more than the $38.6 billion BHP offered for Potash Corp. of Saskatchewan POT. A BHP deal for Anadarko may not materialize because of Anadarko's unknown liabilities related to the Gulf of Mexico oil spill, the Herald reported. The paper noted 20 companies could be interesting targets for BHP while highlighting Cobalt International Energy CIE and Noble Energy NBL. Both are smaller than Anadarko and could be acquired for a far smaller price tag and Noble is the operator of the massive Leviathan gas project in Israel, making it a potentially attractive target.