Hess Completes Sale of Interests in Equatorial Guinea
November 28 2017 - 1:00PM
Business Wire
Hess Corporation (NYSE: HES) announced today that it has
completed the previously announced sale of its interests in
offshore Equatorial Guinea to Kosmos Energy and Trident Energy for
a total consideration of $650 million, effective January 1,
2017.
“Our 2017 asset monetizations have exceeded expectations in
terms of value and timing,” CEO John Hess said. “These proceeds,
along with cash on our balance sheet, are enabling us to prefund
our world-class investment opportunity in Guyana, increase our rig
count in the Bakken in 2018, return capital to shareholders and
reduce debt.”
Hess Corporation is a leading global independent energy company
engaged in the exploration and production of crude oil and natural
gas. More information on Hess Corporation is available at
http://www.hess.com.
Cautionary Statements
This news release contains projections and other forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These projections and statements reflect the company’s current
views with respect to future events and financial performance. No
assurances can be given, however, that these events will occur or
that these projections will be achieved, and actual results could
differ materially from those projected as a result of certain risk
factors. A discussion of these risk factors is included in the
company’s periodic reports filed with the Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20171128006284/en/
Hess CorporationInvestors:Jay Wilson,
212-536-8940orMedia:Lorrie Hecker,
212-536-8250
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