Hess Completes Sale of Utica Acreage
Hess Corporation Logo header
SEARCH

Hess Completes Sale of Utica Acreage

  • Ohio_cropped
08.31.2018

Hess today announced that it has completed the previously announced sale of its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources – Utica, LLC for net cash consideration of approximately $400 million, effective April 1.

Proceeds from this transaction will be used to invest in the company’s higher return growth opportunities in Guyana and the Bakken and to fund the previously announced share repurchase program.

Full story
Related News
  • Hess Named to 100 Best Corporate Citizens List for 15th Consecutive Year

    Hess Corporation has once again been named to the 100 Best Corporate Citizens list, ranking No. 38 on the 2022 list for outstanding environmental, social and governance (ESG) transparency and performance.
    Full story
  • Hess Announces Three New Discoveries and Increase in Resource Estimate for Stabroek Block, Offshore Guyana

    Hess announced an increase in the gross discovered recoverable resource estimate for the Stabroek Block offshore Guyana to approximately 11 billion barrels of oil equivalent, up from the previous estimate of more than 10 billion barrels of oil equivalent.
    Full story
  • Hess Sanctions Yellowtail Development, Offshore Guyana

    Hess today announced it has made a final investment decision to proceed with development of Yellowtail offshore Guyana after receiving government and regulatory approvals.
    Full story