Hess Completes $1.2 Bln Sale of Energy Marketing Business

Hess Corporation today completed the previously announced sale of its Energy Marketing business to Direct Energy, a North American subsidiary of Centrica plc, for a total consideration of $1.2 billion.

Proceeds were higher than originally announced due to increased working capital at closing.

The Energy Marketing business supplies natural gas and electricity to 23,000 commercial, industrial and small business customers in the eastern half of the United States.

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

[mappress]
Press Release, November 01, 2013