Hess completes sale of non-strategic interests in Bakken Acreage

Source: press release, 30 April 2021

photo: Hess Corporation
photo: Hess Corporation

Hess Corporation has announced it has completed the previously announced sale of its Little Knife and Murphy Creek acreage interests in the Bakken in North Dakota to Enerplus Corporation for a total consideration of USD 312 million, effective March 1, 2021.

“The Bakken is a core asset in our company’s portfolio,” CEO John Hess says.

“Sale of the Little Knife and Murphy Creek acreage – the majority of which we were not planning to drill before 2026 – brings material value forward and further strengthens our cash and liquidity position,” Hess adds.