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Hess Waves The For Sale Sign On The Way To Stripping Away $9 Billion

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By Darren Barbee, Hart Energy
October 14, 2013

With its most recent leviathan deal, Hess Corp. (NYSE: HES) is on the path of “shrink-to-grow” as it continues its billion-dollar sell offs and slashes debt, analysts said.

On Oct. 9, Hess agreed to sell its U.S. East Coast and St. Lucia terminal network to Buckeye Partners LP for $850 million. The terminal had been up for sale since January.

Hess has divested $5.4 billion so far in 2013 and has three more assets on the market in Indonesia, Thailand and its retail gasoline convenience stores on the East Coast. ...

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