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Hess Announces 2021 E&P Capital and Exploratory Budget


Press release content from Business Wire. The AP news staff was not involved in its creation.
Hess Announces 2021 E&P Capital and Exploratory Budget
January 25, 2021 GMT
NEW YORK (BUSINESS WIRE) Jan 25, 2021
Hess Corporation (NYSE: HES) today announced a 2021 Exploration & Production capital and exploratory budget of $1.9 billion, of which more than 80% will be allocated to Guyana and the Bakken.
Net production is forecast to average approximately 310,000 barrels of oil equivalent per day in 2021, excluding Libya. Bakken net production is forecast to average approximately 170,000 barrels of oil equivalent per day in 2021. This forecast includes the impact of operating a two rig program beginning in the first quarter and a planned 45-day turnaround and expansion tie-in at the Tioga Gas Plant in the third quarter, which is expected to reduce full year 2021 Bakken net production by approximately 7,500 barrels of oil equivalent per day. ....

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