Hess

Hess Corp. senior executives said Wednesday onshore rig counts will drop, production will slide and an upturn won’t come until oil prices get back to the $60/bbl level.

Houston-based Hess Corp. earlier this month sent 175,000 bbl of Bakken Shale crude to Rotterdam, in the Netherlands, a senior Hess spokesman told news media.

Houston-based Hess Corp. earlier this month sent 175,000 bbl of Bakken Shale crude to Rotterdam, in the Netherlands, a senior Hess spokesman told news media.

Reflecting widespread expectations of a “lower for longer” oil price environment in 2016, Hess Corp. said it will be dramatically scaling back U.S. onshore exploration and production (E&P) activities heading into the new year.

Hess Corp. plans to spend $2.4 billion on exploration and production (E&P) in 2016, a 40% year/year cut and a 20% drop from the preliminary 2016 guidance of $2.9-3.1 billion the company provided in October.

Although its pipeline oversight is relatively limited, the North Dakota Public Service Commission (PSC) this month has been focused on several major oil pipeline projects critical to moving Bakken crude to market.

Hess Corp., one of the biggest operators in the Williston Basin, is launching a Bakken Shale midstream venture that is designed to take advantage of growing natural gas and oil infrastructure needs in the basin and beyond.

Hess Corp., one of the biggest operators in the Williston Basin, is launching a Bakken Shale midstream venture that is designed to take advantage…

Hess. Corp., operator and partial owner of the Stampede oil and natural gas project in the deepwater Gulf of Mexico (GOM), will move forward with the project and expects it to begin production in 2018, the company said Thursday.