BHP Billiton’s $505 Million Hess’ Interests in Shenzi Field

Latham & Watkins LLP advised Hess Corporation in the transaction.

Hess Corporation has announced that it has entered into an agreement to sell its 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico to BHP Billiton, the field’s operator, for a total consideration of US$505 million, subject to customary adjustments, with an effective date of July 1, 2020. The field produced an average of 11,000 net barrels of oil equivalent per day in the first eight months of 2020.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas.

Latham & Watkins LLP advised Hess Corporation in the transaction with a corporate deal team led by Houston partner Robin Fredrickson (Picture), with Houston associates Corey Allen and Luke Strother. Advice was also provided on tax matters by Houston partner Bryant Lee, with Houston associate Chelsea Muñoz-Patchen; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum; on antitrust matters by Washington, D.C. counsel Patrick English; on CFIUS matters by Washington, D.C. partner Les Carnegie, with Washington, D.C. associate Zachary Eddington; and on energy regulatory matters by Washington, D.C. partner Patrick Nevins.

Involved fees earner: Corey Allen – Latham & Watkins; Les Carnegie – Latham & Watkins; Zachary Eddington – Latham & Watkins; Patrick English – Latham & Watkins; Robin Fredrickson – Latham & Watkins; Adam Kestenbaum – Latham & Watkins; Bryant Lee – Latham & Watkins; Chelsea Marie Muñoz-Patchen – Latham & Watkins; Patrick Nevins – Latham & Watkins; Luke Strother – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Hess Corporation;


Author: Ambrogio Visconti