29.01.2014 15:49:29

Hess To Sell Utica Dry Gas Acreage For $924 Mln - Quick Facts

(RTTNews) - Oil and gas company Hess Corp. (HES) announced that it reached an agreement to sell about 74,000 acres of its dry gas acreage in the Utica Shale to an undisclosed third party for a consideration of $924 million. It expects that approximately two-thirds of these proceeds at the end of the first quarter of this year, with the balance to be received in the third quarter.

The company said it will use proceeds from these sales for additional share repurchases as they are in excess of those associated with the divestiture program announced by the Company on March 4 of last year.

The company noted that it will determine whether or not to seek an increase to its existing $4 billion share repurchase authorization, approved as part of its March 4 announcement, after a final decision is made either to spin or sell Hess Retail.

Analysen zu Hess Corpmehr Analysen

Eintrag hinzufügen
Hinweis: Sie möchten dieses Wertpapier günstig handeln? Sparen Sie sich unnötige Gebühren! Bei finanzen.net Brokerage handeln Sie Ihre Wertpapiere für nur 5 Euro Orderprovision* pro Trade? Hier informieren!
Es ist ein Fehler aufgetreten!

Aktien in diesem Artikel

Hess Corp 131,94 -0,87% Hess Corp