Hess (HES -0.8%) CEO John Hess says he wants to keep Bakken shale and offshore assets, despite...

|About: Hess Corporation (HES)|By:, SA News Editor

Hess (HES -0.8%) CEO John Hess says he wants to keep Bakken shale and offshore assets, despite calls to sell or spin off businesses. Splitting up would hurt shareholders in the long run: "Assets in conventional [formations] generate the cash needed to fund unconventional growth we have in the Bakken and the Utica," whose operations would not be self-funding and could not access credit markets.