Hess Corporation Unloads $600 Million in Assets in Permian Basin

New York based Hess Corporation announced Monday it has sold $600 million in assets in the Permian Basin to Occidental Petroleum Corporation.

The sale was effective June 1 and proceeds will be used to fund the company’s strong growth opportunities. The assets included holdings in the Seminole Gas Processing plant in Texas, the West Bravo Dome CO2 field in New Mexico, and non-operated interest in the Bravo Dome Unit in New Mexico. The assets produced about 8,200 barrels of oil equivalent a day in 2016.