Hess Completes Sale of Interests in Equatorial Guinea

NEW YORK–(BUSINESS WIRE)–#oil–Hess Corporation (NYSE: HES) announced today that it has completed the
previously announced sale of its interests in offshore Equatorial Guinea
to Kosmos Energy and Trident Energy for a total consideration of $650
million, effective January 1, 2017.

“Our 2017 asset monetizations have exceeded expectations in terms of
value and timing,” CEO John Hess said. “These proceeds, along with cash
on our balance sheet, are enabling us to prefund our world-class
investment opportunity in Guyana, increase our rig count in the Bakken
in 2018, return capital to shareholders and reduce debt.”

Hess Corporation is a leading global independent energy company engaged
in the exploration and production of crude oil and natural gas. More
information on Hess Corporation is available at http://www.hess.com.

Cautionary Statements

This news release contains projections and other forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
projections and statements reflect the company’s current views with
respect to future events and financial performance. No assurances can be
given, however, that these events will occur or that these projections
will be achieved, and actual results could differ materially from those
projected as a result of certain risk factors. A discussion of these
risk factors is included in the company’s periodic reports filed with
the Securities and Exchange Commission.

Contacts

Hess Corporation
Investors:
Jay
Wilson, 212-536-8940
or
Media:
Lorrie
Hecker, 212-536-8250