Hess Clears Deck With Loss and Asset Sales To Fund Liza in Guyana

#13687
ThePitBoss
Participant

$HES completed the sale of its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for $650MM.

These proceeds, along with cash on balance sheet, will enable to prefund $HES’ investment opportunity in Guyana, increase its rig count in the Bakken in 2018, return capital to shareholders and reduce debt.