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Amerada Hess Corporation Announces Successful Acquisitions at Sale 190 in the Gulf of Mexico

NEW YORK, March 17 /PRNewswire-FirstCall/ -- Amerada Hess Corporation (NYSE: AHC) announced today that it was the high bidder on 17 deepwater leases covering 85,000 acres in Central Gulf of Mexico Lease Sale 190 held today in New Orleans, Louisiana. The company's net exposure for its high bids is approximately $41 million. Amerada Hess was the high bidder on one of Sale 190's most sought after blocks, Green Canyon Block 468. This block is located in the prolific Lower Miocene trend of the deepwater Gulf of Mexico. The high bids are subject to approval by the U.S. Department of Interior's Minerals Management Service. Amerada Hess will operate 14 of the leases with a 100% working interest, including Green Canyon Block 468.

"The deepwater Gulf of Mexico is a key focus area for Amerada Hess. This new acreage adds to our already extensive holdings in the deepwater Gulf of Mexico and provides exciting additional exploration opportunities for our company," said Bob Strode, Senior Vice President of Exploration.

Amerada Hess has six producing fields in the Gulf of Mexico, operating four, with two more scheduled to begin production this year. The company also participated in two significant recent discoveries, Shenzi and Tubular Bells.

About Amerada Hess Corporation

Amerada Hess, headquartered in New York, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products.

SOURCE Amerada Hess Corporation

CONTACT: Jay R. Wilson of Amerada Hess Corporation, +1-212-536-8940/ (AHC)