Under the deal, agreed by the boards of both companies, Hess will issue 0.1373 common shares in exchange for each outstanding AOG share, representing a 9.4% premium on the AOG's Tuesday closing share price.
Hess expects to issue about 8.6 million new shares to complete the transaction.
The company said it had also committed to provide AOG with a $30 million working capital credit facility to help finance planned exploration and production activities and other working capital needs prior to the closing of the transaction.
AOG
