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…
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Articles from Hess
North Dakota Oil, Natural Gas Production Flat as Bakken Operators in Maintenance Mode
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…
October 17, 2022
Hess, Nabors, Halliburton to Fund North Dakota Tribal Apprenticeship Program
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…
September 26, 2022
Hess Ramping Up Bakken Production as Oil Demand, Prices Rise
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…
January 26, 2022
4Q2019 Earnings: Hess Touts ‘Lean Manufacturing,’ Technology in Driving Down Bakken Costs
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.
January 29, 2020
4Q2019 Earnings: Hess Touts ‘Lean Manufacturing,’ Technology in Driving Down Bakken Costs
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.
January 29, 2020
Hess Capex Budget Puts Priority on Bakken, South America
Hess Corp. is once again directing the lion’s share, more than 80%, of its planned $3 billion capital expenditure (capex) budget for 2020 to high-return investments in the Bakken Shale and offshore Guyana.
January 28, 2020
Hess Capex Budget Puts Priority on Bakken, South America
Hess Corp. is once again directing the lion’s share, more than 80%, of its planned $3 billion capital expenditure (capex) budget for 2020 to high-return investments in the Bakken Shale and offshore Guyana.
January 28, 2020
Hess on Track for Higher Production, Lower Well Costs in Bakken
Hess Corp. senior executives on Wednesday designated the Bakken Shale and overseas operations in Guyana as the two sweet spots for most of the company’s capital expenditures in 2020.
November 1, 2019
Bakken Still U.S. Growth Engine for Hess, Says CEO
Hess Corp. is bullish on the Bakken Shale, with North Dakota still the company’s U.S. growth engine, the CEO said Thursday.
April 26, 2019
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