"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Wednesday, April 23, 2014

HESS Sling Thai Assets In-Line With Expectations

HESS ($HES) has been cleaning house and streamlining business segments in-line with their public statements from March 2013 analyst call:
Specifically, we will be divesting our retail, energy marketing and energy trading businesses; divesting our E&P assets in Indonesia and Thailand; and pursuing the monetization of our Bakken midstream assets. Proceeds from all initiatives announced to date will be used, first, to strengthen our balance sheet in order to fund future growth and next, to increase current returns to all shareholders through a 150% increase of our annual dividend to $1 per share commencing in the third quarter of 2013, as well as to repurchase up to $4 billion of Hess shares.
Read that full transcript here

This morning Moody's analyst responded to my inquiry and he seems pleased with $HES ability to stand by their word:

$HES 1 Minute Chart for Today: