Hess Corporation (HES) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Operator
Good morning, ladies and gentlemen, and welcome to the Enerplus first-quarter 2021 results conference call. [Operator instructions] This call is being recorded on Friday, May 7, 2021. I would now like to turn the conference over to Mr. Drew Mair.
Please go ahead.
Manager, Investor Relations
Thank you, operator, and good morning, everyone. Thank you for joining the call. Before we get started, please take note of the advisories located at the end of today s news release. Our financials have been prepared in accordance with U.S.
GAAP. All discussion of production volumes today are on a gross company working interest basis and all financial figures are in Canadian dollars unless otherwise specified. I m here this morning with Ian Dundas, our president and chief executive officer; Jodi Jenson Labrie, senior VP and chief financial officer; Wade Hutchings, senior VP and chief operating officer; Shaina Morihira, VP finance; and Garth Doll, VP marketing. Following our discussio
Hess Completes Sale of Non Strategic Interests in Bakken Acreage
édité le 04/05/2021 - Plus de news de HESS - Voir la fiche entreprise de HESS
Hess announced that 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 $312 million, effective March 1, 2021.
The Bakken is a core asset in our companys portfolio, CEO John Hess said. 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 has sold its Little Knife and Murphy Creek acreage interests in the Bakken Formation in North Dakota. PHOTO SOURCE: Hess Corp.
Hess Corp. (NYSE: HES) has sold its Little Knife and Murphy Creek acreage interests in the Bakken Formation in North Dakota to Enerplus Corp. (TSX: ERF) (NYSE: ERF) for a total consideration of $312 million, Hess reported Friday.
The deal is effective March 1, 2021, Hess noted in a written statement.
“The Bakken is a core asset in our company’s portfolio,” remarked Hess CEO John Hess. “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.”
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