Actionable Opportunities in Special Situations: Spinoffs, Bankruptcy, Restructurings

Spin-Off

Hess $HES plans to spinoff some midstream assets

Hess Corp. said it plans to pursue a spinoff of some midstream assets, mostly in North Dakota, to create a separately traded company to support growth of its production in the Bakken oil shale play. The exploration-and-production company is considering forming a master limited partnership through an initial public offering that would initially include interests in a natural-gas processing plant, a rail-loading terminal and other assets. Source: Wall Street Journal

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