Hess Points to Higher E&P Budget for 2019

By John Benny
Wednesday, October 31, 2018

U.S. oil and gas producer Hess Corp said on Wednesday its exploration and production budget in 2019 would be closer to $3 billion.

The company said it expects capital expenditure to average about $3 billion through 2025, up from its current-year forecast of $2.1 billion.

Chief Financial Officer John Rielly also said, on a call with analysts, the company plans to bring 50 percent more wells online in its Bakken oilfield in 2019, compared to 2018.

(Reuters, Reporting by John Benny in Bengaluru)

Categories: Exploration People & Company News Offshore Energy Shale Oil & Gas

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