<< Back |
The transaction is part of the previously announced plan for Hess to
exit the entirety of its downstream business as it transforms into a
pure play E&P company with a portfolio of focused, high growth and lower
risk assets. The sale of Energy Marketing, along with the sales of four
producing assets earlier this year, brings total year-to-date
divestitures to
The agreement is subject to regulatory approvals and other customary closing conditions and is expected to close in the fourth quarter of 2013.
Cautionary Statements
This news release contains projections and other forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
projections and statements reflect the company’s current views with
respect to future events and financial performance. No assurances
can be given, however, that these events will occur or that these
projections will be achieved, and actual results could differ materially
from those projected as a result of certain risk factors. A
discussion of these risk factors is included in the company’s periodic
reports filed with the
Source:
Hess Corporation
Investor:
Jay
Wilson, 212-536-8940
or
Media:
Jon
Pepper, 212-536-8550