Exxon Mobil Corp. and Royal Dutch Shell Plc are among bidders for Asian oil and natural gas fields that may fetch about $3 billion for Hess Corp. and Newfield Exploration Co., said two people with knowledge of the matter.
Hess Corp., the New York-based energy company, and China National Petroleum Corp., parent of that nation’s biggest oil producer, signed a cooperation agreement for a shale basin in the western Xinjiang region.
Hess Corp., the energy company that recently settled a proxy fight with Paul Singer, began the sale of its oil-terminal network and is seeking $1 billion for the asset, said people familiar with the matter.
Hess Corp., the oil company that’s in a proxy battle with billionaire Paul Singer’s Elliott Management Corp., said it will strip Chief Executive Officer John B. Hess of the chairmanship after its annual meeting next week.
Hess Corp.’s shareholder revolt is taking aim at long-time directors with close ties to the company’s founding family, including two executors of the estate of Leon Hess, who led the oil producer for six decades.
Hess Corp., the fifth-biggest U.S. oil company, posted a $538 million first-quarter profit, beating analysts’ estimates as crude prices rebounded from the lowest quarterly average in more than five years.