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Hess (HES) shareholders liked the company's sale of its Russian assets, pushing the stock to a...

Hess (HES) shareholders liked the company's sale of its Russian assets, pushing the stock to a 52-week high. HES expects $1.8B in after-tax proceeds, well above what some analysts expected; Barclays had seen the assets fetching $800M-$1B. HES still plans to sell its U.S. oil storage terminals, oil fields in Indonesia and Thailand, its energy trading business and its network of gas stations.
Comments (1)
  • Aristiphones
    , contributor
    Comments (1327) | Send Message
     
    "prices can stay higher than you and i will ever stay solvent" but i'm a big believer that Hess "get's it." i can very easily see gasoline usage in the USA heading back to 1906 levels...not just the current 1996 variant. since rail cars are one of the best forms of storage in an age of "diminished to de-minimus consumption of fuel" i would stay long the rail business and see if "Detroit finally gets it" and starts pumping out 200 mpg cars as soon as this fall. obviously the exploration and production business is still a priceless enterprise...along with the truly VAST natural gas pipeline network the USA has built out. but if the cost of transporting and storing the fuel drops to basically nil then the amount available for consumption by definition soars. while i still don't see tax bills going down anytime soon i sure can see a day in the VERY near term where the United States and Canada become the world's largest energy exporters. we'll see if they can add "battery tech exporters" as well as vehicle design is finalized and perfected.
    2 Apr 2013, 08:08 AM Reply Like
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