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December 11, 2013
13:56 EDTBPL, HESBuckeye Partners completes $850M terminal buy from Hess
Buckeye Partners (BPL) announced that it has completed its purchase of 20 liquid petroleum products terminals with total storage capacity of approximately 39M barrels for $850M from Hess Corporation (HES). This acquisition increases Buckeye's total liquid petroleum storage capacity by approximately 53% to over 110M barrels. Buckeye says it expects the transaction to be immediately accretive to its distributable cash flow per unit, excluding transition-related expenses.
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April 23, 2014
08:00 EDTHESHess Corp. announces sale of Thailand assets for $1B to PTTEP
Hess Corporation announced it has sold its interests in both the Sinphuhorm and Pailin Fields located in Thailand to PTT Exploration and Production Public Company Limited for a total after-tax consideration of approximately $1B, effective July 1, 2013. Together, the two assets produced an average of 17,000 barrels of oil equivalent per day net to Hess in 2013. Hess will use the proceeds from this sale to continue repurchasing shares under its existing $4B authorization.
06:21 EDTHESPTTEP to buy Hess Corp.'s Thailand assets for $1B
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