Hess Corp. has raised its oil and natural gas production forecast to 385,000-390,000 boe/d for this year, from previous guidance of 365,000-375,000 boe/d, management said Wednesday.

The New York City-based independent operates in the Bakken Shale, as well as offshore Guyana, the Gulf of Mexico and Southeast Asia.

The upward revision is primarily because of “strong operational performance” and the expected startup of the Payara development in Guyana early in the fourth quarter, according to the firm.

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“In terms of resource growth, with multiple phases...