Hess Corporation (NYSE:HES) today completed the previously announced
sale of its Pangkah asset to a subsidiary of PT Saka Energi Indonesia,
which exercised its pre-emption rights, for a total after tax
consideration of $650 million comprising the sale of equity interests in
certain holding entities and certain inter-company debts. The asset,
located off the coast of Indonesia, produced an average of 9,000 barrels
of oil equivalent per day net to Hess in the first three quarters of
2013.
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.
Copyright Business Wire 2014