Hess completes sale of interests in Equatorial Guinea

11/29/2017

NEW YORK -- Hess Corporation has announced 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 Jan. 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.”

Related News ///

FROM THE ARCHIVE ///

Comments ///

comments powered by Disqus