Friday, November 13, 2020

Reading The Tea Leaves: Hess Sells Interests In Gulf Of Mexico -- November 13, 2020

Link over at Rigzone

Hess Corp. reported Friday that it has completed the sale of its 28-percent working interest in the Shenzi Field in the deepwater Gulf of Mexico (GOM) to operator BHP.

“This transaction brings value forward in the current low price environment and further strengthens our cash and liquidity position,” remarked Hess CEO John Hess in a written statement emailed to Rigzone. “Proceeds will be used to fund our world class investment opportunity in Guyana.”

Hess owns a 30-percent stake in the Stabroek Block offshore Guyana. Exxon Mobil Corp. operates Stabroek.

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