Following the company’s acquisition of BHP Billiton’s (LON:BLT) shale sites in Eagle Ford, The Permian and Haynesville for a total of $10.5 billion, BP (LON:BP), has said it is considering selling its US oil and gas projects as part of its $6 billion asset sale program, as reported in Bloomberg.
As of 8.40 BST, BP currently sits on the UK benchmark index at 563.30 GBX −0.40 (0.071%) as investors digest the news. Meanwhile the FTSE 100 is up 0.67 per cent at 7628.81 points.
The company has, so far, experienced success in its bid to reduce the cost of shale production, with a total reduction of almost 35% spanning the last five years. The acquisition of BHP (LON:BLT) sites, which is BP’s (LON:BP) biggest deal since the Atlantic Richfield Deal of 1999, its daily shale and gas production has risen from 315,000 to 500,000.
According to Bloomberg, BP said in a press statement: “Following the closing of BP’s recently announced acquisition of BHP’s U.S. unconventional oil and gas portfolio, BP Lower 48 may sell a portion of its legacy operating assets in U.S. onshore….it’s consistent with BP's approach of actively managing and high-grading its advantaged oil and gas portfolio, focusing on higher-return assets with significant development potential.”
Apple shares closed in the green after sending out invitations to a special event on September 12th, where it is widely expected to unveil three new iPhones.
Apple shares ended higher in the US Thursday, amid widespread reports the tech innovator will unveil three new iPhones at an event it is hosting on September 12th. The event date coincides with the tech giant’s traditional iPhone launch period, while a new Apple watch could also feature.
Apple shares closed 0.92% higher at $225.03 in the US Thursday. The stock was also a little higher in after-hours activity.
Next to no clues have been discerned from the invitation that has been sent out for the September 12th event in its Steve Jobs theatre, at the Cupertino, California campus. However, previous rumours and reported ‘leaks’, suggest that three new iPhones will be on show.
While each of the three expected new iPhone models are anticipated to be based on the iPhone X, they will likely each attract different audiences.
One iPhone that is expected to be unveiled, is rumoured to have a larger screen than the current X model. Another, is expected to have an edge-to-edge screen, but come in cheaper than the current iPhone X, due to the LCD screen.
And, the third model, could be a gold version of the iPhone X; Apple reportedly filed documents seeking approval for a gold version of the phone, but only released it in silver and grey.
While the rumour mill will likely be in overdrive for the next two weeks, no confirmed details will be available until the special event takes place.
Separately, Apple has also purchased a startup that makes lenses for AR glasses. Tim Cook’s tech firm has acquired Akonia Holographics, based in Longmont, Colorado.
“Apple buys smaller companies from time to time, and we generally don’t discuss our purpose or plans,” the tech business said in a statement.
On the Akonia website, the company explains that it has “over 200 patents pertaining to holographic systems and materials. The HoloMirror™ has introduced new possibilities to finally enable lightweight, high-FOV and low-cost consumer AR head-worn displays.”
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