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Hess Production Tops Estimates

Jan 30, 2019

Oil and gas producer Hess Corp's fourth-quarter production beat Wall Street estimates on Wednesday, driven by higher output from the Bakken shale region and the Gulf of Mexico.Total production for the quarter ended Dec. 31, excluding its Libyan operations…

DAVOS: Oil Majors Huddle in DAVOS to Mull Future

Jan 24, 2019

When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics - climate change and pressure from investors.The conclusion of the discussions…

WoodMac on Medco Energi's Potential Takeover of Ophir Energy

Jan 03, 2019

Wood Mackenzie Research Director, Angus Rodger, provides insight on a of UK-listed Ophir Energy by Indonesia's Medco Energi.'On the first day of 2019, Ophir announced it was in talks with Indonesia's Medco Energi regarding a cash takeover. No amount or other details have yet been released…

Exxon Continues Drilling Offshore Guyana

Dec 26, 2018

Exxon Mobil Corp said on Wednesday its oil drilling and development activities offshore Guyana were unaffected despite neighboring Venezuela's navy stopping two seismic survey vessels the company had hired.The closest of 10 oil finds Exxon has…

Ghana Exploration Licensing Round Attracts Global Majors

Dec 24, 2018

Sixteen oil and gas firms have submitted applications for one or more of five Ghanaian offshore blocks in the West African country's first exploration licensing round, its energy ministry said.The interest is a major vote of confidence in Ghana…

US Oil Drillers Cut Rigs

Dec 14, 2018

U.S. energy firms cut oil rigs for a second week in a row this week, prolonging a move by drillers over the past month to reduce the number of active rigs after crude prices collapsed in October and November.Drillers cut four oil rigs in the week to Dec…

​​​​Crude Inventory Drops Again, Brent Stays Around $60

Dec 12, 2018

U.S. crude inventory declined again last week, reducing fear of a repeat 2014/16 oil glut occurring. The latest weekly survey by the U.S. Energy Information Administration (EIA) indicates a small inventory fall of 1.2 million barrels in the week ended December 7…

Hess Expects Output Growth Through 2025

Dec 12, 2018

U.S. producer Hess Corp said on Wednesday it expects oil and gas output to grow more than 10 percent a year compounded through 2025, citing higher growth opportunities at its Bakken shale and offshore Guyana projects.The company projects higher…

Hess, Conoco Raise 2019 Production Outlook

Dec 10, 2018

Oil and gas producer Hess Corp and Conocophillips both expect production for 2019 to be higher than this year even as they spend roughly the same amount of money on exploration, the companies said on Monday.Investors have been urging U.S. oil…

ExxonMobil Makes Discovery Off Guyana

Dec 03, 2018

U.S. major ExxonMobil has made its 10th discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 billion oil-equivalent barrels, reinforcing potential for at least five floating storage…

Exxon Expects 25 pct More Oil from Guyana's Offshore Block

Dec 03, 2018

Exxon Mobil Corp and its partners now expect the large Stabroek oil block offshore Guyana to contain 25 percent more recoverable oil than previously estimated, the companies said on Monday.Exxon and Hess Corp said more than 5 billion barrels…

Hess Corp Completes Drilling on Aspy Well Offshore

Nov 12, 2018

The  exploration and production company Hess Corporation said that Aspy probe did not encounter commercial quantities of hydrocarbons.Hess Corporation announced in a press statement that drilling of the Aspy exploration well offshore Nova Scotia reached total depth of 7…

Hess Points to Higher E&P Budget for 2019

Oct 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…

Hess Corp Posts Quarterly Profit, Beats Estimates

Oct 31, 2018

U.S. oil and gas producer Hess Corp posted its first profit in about four years that also easily beat analysts' estimates, as it sold oil at higher prices and managed to slash costs by 62 percent.New York-based Hess has not reported a profit…

GoM Offshore Platforms Evacuated Ahead of Hurricane

Oct 08, 2018

Energy companies on Monday halted nearly a fifth of Gulf of Mexico oil production and evacuated staff from 10 platforms as Hurricane Michael intensified and headed for a path up the eastern U.S. part of the Gulf.BHP Billiton, BP, Equinor and…

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