Hess Completes Sale of Utica Acreage
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Hess Completes Sale of Utica Acreage

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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.

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