Business Daily.
.
A+ R A-

Hess Completes Sale, Establishes Bakken Midstream Joint Venture Valued at $5.35 Billion

E-mail Print PDF
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) today completed the previously announced sale of a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners for cash consideration of $2.675 billion. As planned, Hess and Global Infrastructure Partners have created a premier midstream joint venture -- Hess Infrastructure Partners. The joint venture has incurred $600 million of debt through a 5-year Term Loan A facility with proceeds distributed equally to both p

imageimage
Grow Your Business with Times Media
Business Daily Media