Hess completes Eq Guinea divestment

Equatorial Guinea

NEW YORK, November 29, 2017 – Hess Corporation has closed the sale of its assets offshore Equatorial Guinea to Kosmos Energy and Trident Energy, the company announced on Tuesday.

“Our 2017 asset monetisations have exceeded expectations in terms of value and timing,” CEO John Hess said in a statement. “These proceeds, along with cash on our balance sheet, are enabling us to pre-fund our world-class investment opportunity in Guyana, increase our rig count in the Bakken in 2018, return capital to shareholders and reduce debt.”

The combined price tag for both deals, effective January 1, 2017, is USD 650 million, the release added.

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