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Hess Corp to sell its interests in offshore Equatorial Guinea
October 23, 2017 / 9:49 PM / 2 months ago

Hess Corp to sell its interests in offshore Equatorial Guinea

(Reuters) - Oil producer Hess Corp (HES.N) said on Monday it would sell its interests in offshore Equatorial Guinea to Kosmos Energy (KOS.N) and Trident Energy for $650 million.

The company, which reached a $200 million tax settlement with Equatorial Guinea earlier in the day, said net production from the assets averaged 28,000 barrels of oil per day.

Hess holds an 85 percent interest and is the operator of the Ceiba and Okume fields.

Tullow Oil (TLW.L) holds a 15 percent interest and Equatorial Guinea holds a 5 percent carried interest.

Reporting by Taenaz Shakir in Bengaluru; Editing by Sriraj Kalluvila

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