Posted by OilVoice Press - OilVoice
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.
Visit source siteNYSEHess CorporationEquatorial GuineaDivestmentKosmos EnergyTrident Energy