Hess Corp. (HES) Announces 2020 E&P Capital and Exploratory Budget
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Hess Announces 2020 E&P Capital and Exploratory Budget
January 28, 2020 8:00 AM ESTPlanned Expenditures in Line with Previous Guidance; Majority Allocated to High Return Investment Opportunities in Guyana and the Bakken
NEW YORK--(BUSINESS WIRE)-- Hess Corporation (NYSE: HES) today announced a 2020 Exploration & Production capital and exploratory budget of $3.0 billion, of which more than 80% will be allocated to high return investments in Guyana and the Bakken.
Net production is forecast to average between 330,000 and 335,000 barrels of oil equivalent per day in 2020, excluding Libya. Bakken net production is forecast to average approximately 180,000 barrels of oil equivalent per day in 2020.
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