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DewDiligence

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Re: Democritus_of_Abdera post# 15208

Monday, 10/23/2017 8:38:31 PM

Monday, October 23, 2017 8:38:31 PM

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HES sells Equatorial Guinea assets for $650—settles tax dispute with Equatorial Guinea for $187M:

https://finance.yahoo.com/news/hess-announces-sale-interests-equatorial-210400395.html

https://finance.yahoo.com/news/hess-corporation-reaches-amicable-tax-180143840.html

The $187M figure is 85% (HES’ Equatorial Guinea equity stake) of the $220M tax settlement with the government. Thus, HES’ (pre-tax) proceeds from the settlement and asset sale are $463M.

HES’ net production in Equatorial Guinea averaged 28K boe/d during 1H17.

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