Hess

Interest in the final oil and natural gas auction in the Gulf of Mexico for the year – and potentially the only one until 2025 – was strong on Wednesday, with the highest bid total since 2015. Following a series of delays because of lawsuits, the Interior Department’s Bureau of Ocean Energy Management (BOEM) held…

Chevron Corp. agreed Monday to snap up Hess Corp. in an all-stock transaction valued at $53 billion, enlarging the supermajor’s Lower 48 and Gulf of Mexico portfolios and giving it entry into rich discoveries offshore Guyana in the Stabroek block. The total enterprise value, including debt, is $60 billion. The agreement nearly matches the estimated…

Major global natural gas and crude oil producer Hess Corp. is donating $50 million to Salk Institute’s Harnessing Plants Initiative (HPI) over the next five years to advance initiatives toward net-zero emissions. The funds would support research operations and infrastructure for the new Hess Center for Plant Science.  “The Harnessing Plant Initiative is a potential…

Hess Corp. has set a $3.7 billion exploration and production budget for 2023, with more than 80% of funds allocated to its flagship Bakken Shale and Guyana operations. This would be up from the $2.7 billion budget for full-year 2022 that the firm forecasted in October. New York City-based Hess is targeting average net production…

North Dakota’s natural gas production averaged 3.09 Bcf/d in August versus 3.1 Bcf/d in July, according to the latest figures from the state’s Department of Mineral Resources (DMR).  The slight dip was mainly because of a processing plant outage, DMR’s Lynn Helms, Oil and Gas Division director, told reporters.  The natural gas capture rate held…

The North Dakota Tribal College System (NDTCS) is partnering with three leading oil and gas companies on an apprenticeship program to develop a homegrown workforce in the energy sector and other trades. Persistent labor shortages have plagued the Williston Basin, home to the mighty Bakken Shale, one of the Lower 48’s major oil and gas…

U.S. independent Hess Corp. expects production from its Bakken Shale assets to grow 6-9% in 2022 to 165,000-170,000 boe/d. The New York-based producer is ramping up Bakken activity after adding a third rig last September. Previously it had slashed its rig count from six to one because of the coronavirus pandemic. A fourth rig could…

Hess Corp. is doing more with less, with the Bakken Shale continuing to drive a significant portion of oil and natural gas production growth at the same time 2019 spending came in lower than expected.

Hess Corp. is doing more with less, with the Bakken Shale continuing to drive a significant portion of oil and natural gas production growth at the same time 2019 spending came in lower than expected.