UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 and 15(d) of
the Securities Exchange Act of 1934
December 23, 2004
Date of Report (Date of earliest event reported)
AMERADA HESS CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
13-4921002
Delaware 1-1204 (IRS Employer
(State of Incorporation) (Commission File Number) Identification No.)
1185 Avenue of the Americas
New York, New York 10036
(Address of Principal Executive Office)
(212) 997-8500
(Registrant's Telephone Number, Including Area Code)
(Not Applicable)
(Former Name or Former Address,
If Changed Since Last Report)
Item 8.01 Other Events
On December 23, 2004, Amerada Hess Corporation issued a news release
reporting on an agreement relating to future natural gas sales from Block A-18
of the Malaysia-Thailand Joint Development Area. A copy of this news release is
attached hereto as Exhibit 99 and is hereby incorporated by reference.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
99 News release dated December 23, 2004
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date: December 23, 2004
AMERADA HESS CORPORATION
By: /s/ J. Barclay Collins II
--------------------------------
Name: J. Barclay Collins II
Title: Executive Vice President
and General Counsel
Exhibit 99
news release
AMERADA HESS CORPORATION 1185 Avenue of the Americas, N.Y., N.Y. 10036
FOR IMMEDIATE RELEASE
AMERADA HESS SECURES FUTURE NATURAL GAS SALES FROM BLOCK A-18 OF THE
MALAYSIAN-THAILAND JOINT DEVELOPMENT AREA (JDA)
New York, December 23, 2004. . . . . .Amerada Hess Corporation (NYSE: AHC)
announced that an agreement has been reached to secure future natural gas sales
from Block A-18 of the Malaysia-Thailand Joint Development Area (JDA). The
agreement also provides for the acceleration of natural gas sales from the
Block. Amerada Hess and Petronas Carigali each own a 50% interest in the Block
A-18 Production Sharing Contract (PSC).
The parties to the agreement are the Malaysian-Thailand Joint Authority, the
Block A-18 PSC partners, and the buyers of the natural gas, PTT and Petronas.
Under the agreement, initial natural gas sales will be accelerated to commence
during the first quarter of 2005 and will average 200 million cubic feet per day
(mmcf/d) for 2005. In the fourth quarter of 2005, natural gas sales are expected
to increase to 390 mmcf/d, when the buyers' gas separation plant is completed.
Phase 1 gas sales of 390 million cubic feet per day commence on January 1, 2006,
for a period of 20 years. Phase 2 natural gas sales, involving the delivery of
an additional 400 mmcf/d, will commence in the first half of 2008 for a 20 year
period. Under Phase 3, the sellers' have an option to deliver additional natural
gas volumes commencing between 2010 and 2012, subject to further drilling
success on Block A-18.
Amerada Hess estimates that net production from Block A-18 will exceed an
average of 55 million cubic feet of natural gas equivalent per day (mmcfe/d) in
2005 and 140 mmcfe/d in 2006.
In exchange for the acceleration of additional phases of natural gas sales, the
sellers have agreed to release the buyers from prior take or pay obligations and
to reduce the base price associated with Phase 1
production by 5%. The Block A-18 Production Sharing Contract partners, Amerada
Hess and Petronas Carigali, now have a firm schedule for Phase 1 production,
including a new take-or-pay provision, and a clear framework for significant
future natural gas sales and the wider development of the resources in the
Block.
The Block A-18 Production Sharing Contract (PSC) is operated by Carigali-Triton
Operating Company (CTOC), which is a joint-operating company owned equally by
Amerada Hess and Petronas Carigali.
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.
Contact: Amerada Hess Corporation.......Jay R. Wilson (212) 536-8940