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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 10:06 AM

Slide #144. Hess Corporation Preferred Stock Offering

Company: Hess Corporation (NYSE:HES)
Date announced: 2/4/2016
Shares Offered: 25,000,000
Date of Pricing: 2/4/2016
Price Per Share: $39.00
Preferred Stock Offering Details: Hess Corporation (NYSE:HES) today announced the commencement of concurrent underwritten public offerings of 25,000,000 shares of its common stock and 10,000,000 depositary shares, each of which represents a 1/20th interest in a share of its Series A Mandatory Convertible Preferred Stock (the "Convertible Preferred Stock"), $1.00 par value per share, with a liquidation preference of $1,000 per share of Convertible Preferred Stock (equivalent to $50 per depositary share). In connection with the concurrent offerings, Hess intends to grant the respective underwriters in each offering a 30-day option to purchase up to 3,750,000 additional shares of its common stock and up to 1,500,000 additional depositary shares. The concurrent offerings are separate public offerings made by means of separate prospectus supplements and are not contingent on one another. -updated 2/4- Hess Corporation (NYSE:HES) today announced the pricing of its previously announced concurrent underwritten public offerings of 25,000,000 shares of its common stock at a price of $39.00 per share, and 10,000,000 depositary shares, each of which represents a 1/20th interest in a share of its 8.00% Series A Mandatory Convertible Preferred Stock (the "Convertible Preferred Stock"), $1.00 par value per share, with a liquidation preference of $1,000 per share of Convertible Preferred Stock (equivalent to $50 per depositary share), at a price of $50 per depositary share. In addition, the underwriters in each respective offering have been granted a 30-day option to purchase up to 3,750,000 additional shares of common stock and up to 1,500,000 additional depositary shares. The common stock offering and the depositary shares offering are separate public offerings by means of separate prospectus supplements and are not contingent on one another.

Hess is an exploration and production company engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas with production operations located primarily in the U.S., Denmark, Equatorial Guinea, the Malaysia/Thailand Joint Development Area, Malaysia, and Norway. The Bakken Midstream operating segment provides services, including storing and terminaling propane. As of Dec 31 2016, Co. had total proved developed and undeveloped reserves of 1.11 billion barrels of oil equivalent, consisted of 826.0 million barrels of crude oil and condensate and natural gas liquids, as well as 1.70 billion cubic feet of natural gas.

Preferred: HES.PRA


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Name: Hess Corp
Website: hess.com
Sector: Oil & Gas Exploration & Production
Number of ETFs Holding HES: 76 (see which ones)
Total Market Value Held by ETFs: $2,157,428,821.2
Total Market Capitalization: $17,121,000,000
% of Market Cap. Held by ETFs: 12.60%

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