Hess Completes Sale of Interests in Libya

Rhea-AI Summary

Hess Corporation (NYSE: HES) has successfully sold its 8.16% interest in the Waha Concession in Libya. The sale has been made in equal shares to TotalEnergies and ConocoPhillips. This divestment indicates Hess's strategic direction in optimizing its asset portfolio as a global independent energy company focused on crude oil and natural gas exploration and production.

NEW YORK--(BUSINESS WIRE)-- Hess Corporation (NYSE: HES) announced today that it has completed the sale of its 8.16% interest in the Waha Concession in Libya in equal shares to TotalEnergies and ConocoPhillips.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information is available at www.hess.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221114005684/en/

Investors:

Jay Wilson

(212) 536-8940

jrwilson@hess.com

Media:

Lorrie Hecker

(212) 536-8250

lhecker@hess.com

Source: Hess Corporation

FAQ

What percentage of the Waha Concession did Hess sell?

Hess sold its 8.16% interest in the Waha Concession.

Who purchased Hess's stake in the Waha Concession?

TotalEnergies and ConocoPhillips each acquired equal shares of Hess's stake.

What is the ticker symbol for Hess Corporation?

The ticker symbol for Hess Corporation is HES.

Where is the Waha Concession located?

The Waha Concession is located in Libya.

What type of company is Hess Corporation?

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas.