[Denmark] South Arne

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[Denmark] South Arne

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Hess Completes Sale of Interests in Denmark
08/30/2021

NEW YORK--(BUSINESS WIRE)--Aug. 30, 2021-- Hess Corporation (NYSE: HES) announced today that it has completed the previously announced sale of its subsidiary Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field, to Ineos E&P AS for a total consideration of $150 million, effective January 1, 2021.

“The sale of our Denmark asset enables us to further focus our portfolio and strengthen our cash and liquidity position,” CEO John Hess said. “Proceeds will be used to fund our world class investment opportunity in Guyana.”
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