Hess Pays $325M to Remove $100 Call Options

摘要

Oil and gas producer Hess Corp. said that last week it paid $325 million to remove call options tied to US crude oil prices reaching $100/bbl. CEO John Hess made the disclosure at the Scotia Howard Weil conference on Tuesday, saying the decision to remove the options was made “in light of the recent high volatility and liquidity risk in the oil markets. ” The call options also applied to $105/bbl Brent prices.