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Hess acquires additional Bakken acreage for $1.05 billion

Hess Corp. said Dec. 29 that it has completed the acquisition of 167,000 net acres in the Bakken oil shale play in North Dakota from privately-held TRZ Energy LLC for $1.05 billion in cash. The acquired properties are located near Hess’ existing acreage and have current net production of approximately 4,400 barrels of oil equivalent per day.

Hess, with headquarters in New York, is a global integrated energy company 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.

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