Hess Completes Sale of Utica Acreage

Hess Completes Sale of Utica Acreage

Hess Corporation (NYSE: HES) today announced that it has completed the
previously announced sale of its joint venture interests in the Utica
shale play in eastern Ohio to Ascent Resources – Utica, LLC for net cash
consideration of approximately $400 million, effective April 1.

Proceeds from this transaction will be used to invest in the company’s
higher return growth opportunities in Guyana and the Bakken and to fund
the previously announced share repurchase program.

Hess Corporation is a leading global independent energy company engaged
in the exploration and production …

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