Killajoules

Hess Announces Bakken Midstream Joint Venture Valued at $5.35 Billion
Hess Corporation (NYSE: HES) (the “Company”) announced today that it has agreed to sell a 50 percent interest in its Bakken midstream assets to Global Infrastructure Partners, a leading global infrastructure investor with an extensive midstream energy investment track record, for cash consideration of $2.675 billion. Hess and Global Infrastructure Partners will create a premier midstream joint venture – Hess Infrastructure Partners. Upon closing, the joint venture will incur $600 million of debt through a 5-year Term Loan A facility with proceeds distributed equally to both partners, resulting in total after-tax cash proceeds, net to Hess, of $3.0 billion. In addition the joint venture will have independent access to capital including a $400 million 5-year Senior Revolving Credit Facility, which is fully committed. The joint venture upon closing plans to continue to pursue a proposed initial public offering (IPO) of Hess Midstream Partners LP common units.

ExxonMobil Announces Significant Oil Discovery Offshore Guyana
Exxon Mobil Corporation (NYSE:XOM) today announced a significant oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana.

Oceaneering Announces Hess Stampede Project Umbilicals and Distribution Hardware Contract Award
Oceaneering International, Inc. (NYSE:OII) announced that it secured a contract in December 2014 from Hess Corporation (NYSE: HES) to supply the umbilicals and umbilical distribution hardware for the Stampede Project located in the Green Canyon area of the U.S. Gulf of Mexico. This hardware will be used to transmit hydraulic control fluids, chemicals, and electrical power signals to operate and monitor subsea wells and manifolds.

Enbridge Selected to Provide Crude Oil Pipeline for Deepwater Gulf of Mexico Developmen
Enbridge Inc. (TSX:ENB) (NYSE:ENB), announced today that it will build, own and operate a crude oil pipeline in the Gulf of Mexico to connect the planned Stampede development, operated by Hess Corporation, to an existing third-party pipeline system. The lateral pipeline is expected to cost approximately $0.13 billion and be operational in 2018. The Stampede development was previously sanctioned by Hess and its project co-owners in October 2014.

Hess Announces LOI with the North West Shelf to Liquefy Equus Gas
Hess Corporation (NYSE:HES) announced today that its Australian subsidiary, Hess Exploration Australia Pty Ltd, has signed a non-binding Letter of Intent (LOI) with the North West Shelf (NWS). Hess intends to develop its natural gas discoveries in its deepwater permits offshore northwestern Australia and, subject to execution of binding agreements, toll the production through existing NWS processing and liquefaction facilities in Karratha, Australia. Hess would then market liquefied natural gas (LNG) to customers in Asia Pacific.

Subsea 7 S.A. awarded an installation contract in the US Gulf of Mexico
Subsea 7 S.A. (Oslo Børs: SUBC; the Company) has been awarded a contract by the Hess Corporation for installation work in support of the Stampede Project in deepwater US Gulf of Mexico.

Proserv secures significant contract with Hess Corporation
Global-leading energy services company Proserv has secured a major contract win worth in excess of $20 million, underpinning the company’s fast-evolving international footprint and market-leading status in the subsea arena.

Hess Corporation Announces First Production from the Tubular Bells Field in the Gulf of Mexico
Hess Corporation (NYSE: HES) today announced that production has commenced from the Tubular Bells Field, located in the Mississippi Canyon area of the deepwater Gulf of Mexico. Hess holds a 57.14 percent interest in the Tubular Bells Field and is the operator. Chevron U.S.A. Inc. has a 42.86 percent interest.

Chevron Sanctions Stampede Project in the Deepwater U.S. Gulf of Mexico
Chevron Corporation (NYSE: CVX) announced today that its subsidiary, Union Oil Company of California (Union), has reached a final investment decision to proceed with the development of the Hess Corporation-operated Stampede project in the deepwater U.S. Gulf of Mexico. Stampede is a deepwater subsea development, which will be tied-back to a newly constructed Tension Leg Platform.

Hess Corporation, North Dakota Officials Gather to Celebrate Expansion of Tioga Gas Plant
Hess Corporation (NYSE:HES) was joined today by Governor Jack Dalrymple, Senator John Hoeven and a host of other government officials to commemorate the recently completed expansion of the Tioga Gas Plant, which more than doubles the operational capacity of the facility.