Hess Corporation (NYSE: HES) today completed the previously announced
sale of its Energy Marketing business to Direct Energy, a North American
subsidiary of Centrica plc, for a total consideration of $1.2 billion.
Proceeds were higher than originally announced due to increased working
capital at closing.
The Energy Marketing business supplies natural gas and electricity to
23,000 commercial, industrial and small business customers in the
eastern half of the United States.
Hess Corporation is a leading global independent energy company engaged
in the exploration and production of crude oil and natural gas. More
information on Hess Corporation is available at http://www.hess.com.
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 Securities and Exchange Commission.
Copyright Business Wire 2013