Hess to sell half of Bakken midstream assets for $2.68 bln

Thu Jun 11, 2015 8:18am EDT
 
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June 11 (Reuters) - Oil and natural gas producer Hess Corp said it will sell half of its Bakken midstream assets to Global Infrastructure Partners for $2.68 billion.

The joint venture, valued at $5.35 billion, plans to file for an initial public offering, upon closing of the transaction, Hess said on Thursday.

Hess said in July it plans to form a publicly traded master limited partnership comprising its pipeline and storage assets in North Dakota's Bakken oil shale field. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Don Sebastian)