Hess Corporation (HES) Announces Glencoe-1 Natural Gas Discovery in Australia

June 10, 2008 4:29 PM EDT

Hess Corporation (NYSE: HES) announced that the Glencoe-1 exploration well on Australia's Northwest Shelf discovered natural gas in Upper Jurassic sandstones. The well encountered 92 feet (28 meters) of net gas pay, in line with pre-drill estimates and nearby Jurassic discoveries. Glencoe-1 is the first of four exploration wells being drilled on the WA-390-P Permit by Hess in 2008.

"While recognizing this well is only the first in our WA-390-P Permit, the result is very encouraging," said John O'Connor, Hess President of Exploration and Production.

Hess Corporation is a global integrated energy company engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products.


Related Categories

Corporate News

Stocks Mentioned

HES 105.53

-1.61 -1.50%
Volume: 3,748,710
Track HES


Add Your Comment