Hess Completes American Oil & Gas Acquisition

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Hess Completes American Oil & Gas Acquisition

12/20/2010

NEW YORK -- Hess Corp. completed the acquisition of American Oil & Gas, the company reported.

The recent all-stock transaction increases Hess' strategic position in the Bakken oil play in North Dakota by approximately 85,000 net acres, the company stated.

This comes on the heels of Hess acquiring 167,000 net acres also located in the Bakken oil shale play from TRZ Energy LLC for $1,050 million in cash in October. That deal is expected to close by the end of this year.

With headquarters located here, Hess Corp. is a global integrated energy company engaged in the exploration, production, purchase, transportation and sales of crude oil and natural gas, as well as the production and sale of refined petroleum products.