Hess Announces 2018 E&P Capital and Exploratory Budget
Hess Corporation Logo header
SEARCH

Hess Announces 2018 E&P Capital and Exploratory Budget

  • Hess XRig_0673_resized
NEW YORK, Jan. 31, 2018 -- Hess today announced its 2018 E&P capital and exploratory budget will be $2.1 billion, the same as 2017. The 2018 budget allocates increased capital for continuing exploration and development activities offshore Guyana and for the Bakken, which includes growing the rig count from four rigs to six rigs. These increases are offset by lower capital allocated to the Gulf of Mexico and Malaysia compared to 2017.

Learn more
Latest Hess News
  • Hess in the Media: Hess brings Stampede project online

    U.S. oil company Hess has started first production from its operated Stampede development in the Gulf of Mexico, reports Offshore Energy Today.
    Full story
  • Hess Participates in Credit Suisse Energy Summit

    Hess Corporation announced today that John Hess, Chief Executive Officer, will present at the Credit Suisse 23rd Annual Energy Summit in Vail on Wednesday, February 14 at 8:40 a.m. Mountain Time.
    Full story
  • Hess Reports Estimated Results for the 4th Quarter of 2017

    Hess today reported a net loss of $2,677 million, or $8.57 per common share, in the fourth quarter of 2017, compared with a net loss of $4,892 million, or $15.65 per common share, in the fourth quarter of 2016. Fourth quarter 2017 results reflect net after-tax charges totaling $2,373 million, including a non-cash accounting charge of $1,700 million to reduce the carrying value of Hess’ interests in the Stampede and Tubular Bells Fields in the Gulf of Mexico, as a result of a lower long-term crude oil price outlook.
    Full story