BHP Billiton Limited (ASX:BHP) is exploring a wide range of options for its US shale unit. The options could potentially include a trade sale, demerger and stock floatation. In a recent quarterly trading update, the company said it was working on a number of options for the business, which it has declared non-core. "We are preparing all appropriate documentation ahead of data rooms being opened to potential trade sale buyers by the end of the March 2018 quarter. In parallel, we continue to explore a potential exit via demerger or Initial Public Offering,” it said.