Hess (HES +1.9%) agrees to sell its Russian subsidary Samara-Nafta to Lukoil for total...

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

Hess (HES +1.9%) agrees to sell its Russian subsidary Samara-Nafta to Lukoil for total consideration of $2.05B; based on its 90% interest in the subsidiary, after-tax proceeds to HES are expected to total ~$1.8B. Samara-Nafta is currently producing 50K boe/day in the Volga-Urals region of Russia. So far in 2013, HES has announced or completed ~$3.4B in asset sales.