Tag Archives: Hess Corporation

Focus on High Return Investments to Deliver Capital Efficient Production Growth and Significant Future Free Cash Flow

Hess Corporation (NYSE:HES) announced in early December 2018 a 2019 E&P capital and exploratory budget of $2.9 billion. Of this, approximately 75 percent will be allocated to high return growth assets in the Bakken and Guyana. Net production is forecast to average between 270,000 and 280,000 barrels of oil equivalent…

Filling the employee pipeline

Companies that have been involved in oil and gas in North Dakota for decades have been concerned with keeping their pipelines full: both with product and with future employees.  As the technology involved in petroleum production has changed, so too has the skillset required from employees.  That was the challenge…

Hess completes sale, establishes Bakken Midstream Joint Venture valued at $5.35 billion

Hess Corporation (NYSE: HES) completed the previously announced sale of a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion on July 1, 2015. As planned, Hess and Global Infrastructure Partners have created a premier midstream joint venture — Hess Infrastructure Partners. The joint venture has incurred $600 million of debt through a…

Hess announces Bakken Midstream joint venture valued at $5.35 Billion

Hess Corporation (NYSE: HES) announced on June 11, 2015 that it has agreed to sell a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners, a leading global infrastructure investor with an extensive midstream energy investment track record, for cash consideration of $2.675 billion. Hess and Global…

Hess announces sale of retail business to Marathon Petroleum Corporation for $2.6 billion

Hess Corporation (NYSE:HES) announced on May 22, 2014 that it has agreed to sell its retail business to Marathon Petroleum Corporation for a total cash consideration of $2.6 billion. Hess Retail is the largest chain of company-operated gas stations and convenience stores along the East Coast with 1,342 locations. by

Hess Corporation, North Dakota officials gather to celebrate expansion of Tioga Gas Plant

Hess Corporation (NYSE:HES) was joined on May 19, 2014 by Governor Jack Dalrymple, Senator John Hoeven and a host of other government officials to commemorate the recently completed expansion of the Tioga Gas Plant, which more than doubles the operational capacity of the facility. by