Direct Energy Resources, a North American subsidiary of Centrica that is based in Houston, will buy the marketing business of Hess Corp. for $731 million in cash.
The energy marketing business, which is based in New Jersey, is one of the largest business-to-business energy suppliers in the Eastern U.S. and operates in 18 states. The business has an extensive portfolio of of natural gas and power contracts. In 2012, the Hess energy marketing business supplied 378 billion cubic feet (bcf) of gas and 28 terawatt hours (TWh) of power to over 23,000 customers.
Sourced from Chron.