BHP Group BHP recently announced the signing of an agreement with Hess Corporation to acquire the latter’s 28% interest in Shenzi oil and gas field located in the Gulf of Mexico for $505 million. This move is in sync with the company’s plans to augment its petroleum portfolio through targeted acquisitions in high-quality deepwater assets and the continued de-risking of growth options.

Currently, Shenzi is structured as a joint ownership with BHP being the operator with a 44% interest, Hess holding 28% and Spain’s Repsol S.A. the remaining 28%. Following the completion of the deal, expected by the end of December, BHP Group’s stake will go up to 72% and add approximately 11,000 barrels of oil equivalent per day to production (90% oil).

The Shenzi facility is located approximately 120 miles (195 kilometres) off the Louisiana coastline and is installed in approximately 4,300 feet (1,300 metres) of water on Green

Read More

Inseego (INSG) is a telecom equipment company that has had a long history of struggling to grow sales and sustainably generate a profit. Their two product segments are:

  1. Internet of Things (IoT) / Mobile Solutions, which is largely made up of wireless hotspot hardware, routers, and modems.
  2. Enterprise SaaS Solutions, which includes their Ctrack fleet management offering as well as DMS (device management).

Despite attempts to work in recurring SaaS revenues and diversify into vague but more alluring IoT offerings, the bulk of the company’s sales come from their core MiFi product, which is a wireless hotspot hardware offering (yes, the same service that you can utilize by turning on a hotspot on your cell phone). To emphasize the importance of this product, “MIFI” was even the company’s previous ticker before they were known as Inseego.

Company history

Before Inseego was Inseego, the company was called Novatel. After

Read More

  • China may have successfully counter-maneuvered President Trump’s attempts to ban or dismantle TikTok in the US — for now.
  • China decision to impose new export controls on technology have put the brakes on TikTok’s acquisition talks in the US, the Wall Street Journal reported Tuesday.
  • The new restrictions mean TikTok would have to get permission from the Chinese government to include its video recommendation algorithms in any deal.
  • Reuters reported TikTok’s prospective buyers have drawn up four ways they might pursue an acquisition.
  • Visit Business Insider’s homepage for more stories.

Beijing has successfully thrown a spanner into the acquisition talks between TikTok and various prospective American buyers according to multiple reports from Reuters, the Wall Street Journal, and Bloomberg.

Late last week China introduced a set of new export restrictions on 23 categories of technology. Included among these was any content-recommendation technology, meaning TikTok’s parent company ByteDance would have to

Read More