Hess completes sale of interests in Denmark

Source: press release, 30 August 2021

Hess has been active in the Danish North Sea since becoming the operator of the South Arne field in 1994
Hess has been active in the Danish North Sea since becoming the operator of the South Arne field in 1994 (photo: Hess)

Hess Corporation has announced 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 USD 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 says. “Proceeds will be used to fund our world class investment opportunity in Guyana.”

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