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Hess Completes Sale of Interests in Equatorial Guinea

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

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

Acquisitions and Divestitures News in Equatorial Guinea >>

Brazil >>  9/17/2020 - Petrobras, informs that it has started the opportunity disclosure stage (teaser), referring to the sale of all its shares in the company Araucária Nit...
United Kingdom >>  9/16/2020 - IGas Energy has entered into a share purchase agreement ('SPA') to acquire GT Energy UK, a developer of deep geothermal heat projects onshore in the U...

Australia >>  9/15/2020 - Further to the previous announcement of 15 June 2020, Armour Energy has advised that agreement has been reached with Oilex to defer the date for the s...
Colombia >>  9/15/2020 - Petrobras, following up on the releases disclosed on 07/27/2020 and 08/11/2020, informs the beginning of the binding phase regarding the sale of its e...

Australia >>  9/14/2020 - - Definitive documentation for farmout to Talon Petroleum executed.

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Bermuda >>  9/14/2020 - Seadrill Limited announces its acquisition of the minority holding of 33.76% of the share capital of Asia Offshore Drilling Limited (“AOD”).

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  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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