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Hess Completes Sale of Interests in Equatorial Guinea

Source: www.gulfoilandgas.com 11/28/2017, Location: Africa

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Hess Corporation 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.”

For more information about related Opportunities and Key Players visit West Africa Projects

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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