Hess Corp. (HES) Tops Q1 EPS by 48c, Revenues Beat

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Hess Corp. (HES) Announces Oil Discovery at Uaru-2, Offshore Guyana

April 27, 2021 8:35 AM EDT

Hess Corporation (NYSE: HES) today announced another oil discovery offshore Guyana at the Uaru-2 well on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of approximately 9 billion barrels of oil equivalent.

Uaru-2 encountered approximately 120 feet (36.7 meters) of high quality oil bearing sandstone reservoir, including newly identified intervals below the original Uaru-1 discovery. The well was drilled in 5,659 feet (1,725 meters) of water and is located approximately 6.8 miles (11 kilometers) south of the Uaru-1 well.

The Uaru-2 discovery will add to the discovered recoverable resource... More