The properties being acquired are located near Hess’ existing acreage and have current net production of approximately 4,400boe/d.
The transaction has an effective date of 1 October 2010 and is expected to close by 28 December 2010.
Hess president of worldwide exploration and production Greg Hill said that this acquisition strengthens Hess’ land position in the Bakken, leverages its operating capabilities and infrastructure, and will contribute to future reserve and production growth.
Hess is engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products.
