Hess Ranked Second Globally for Exploration Value Creation
Hess Corporation Logo header
SEARCH

Hess Ranked Second Globally for Exploration Value Creation

  • Rystad_FINAL
03.12.2019

Drilling success in Guyana in 2018 earned Hess the number two spot in the industry for value created from wildcat drilling according to an annual exploration review by Rystad Energy. Only Exxon, co-owner and operator of the Stabroek Block, offshore Guyana, ranked higher.

Hess built on that success with the Feb. 6 announcement of two new discoveries offshore Guyana in the southeastern part of Stabroek Block, bringing the total number to 12. The estimated gross discovered recoverable resources for the block is approximately 5.5 billion barrels of oil equivalent, up from a resource estimate late last year of more than 5 billion barrels of oil equivalent.

Hess Guyana Exploration Ltd. holds 30 percent interest in the Stabroek Block. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds 25 percent interest.

The Stabroek Block discoveries established the potential for at least five floating, production storage and offloading vessels producing more than 750,000 barrels of oil per day by 2025. 

Related News
  • Hess Announces Regular Quarterly Dividend on Common Stock

    The Board of Directors of Hess Corporation today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on March 29, 2019 to holders of record at the close of business on March 18, 2019.
    Full story
  • Hess Announces Two New Discoveries Offshore Guyana

    Hess today announced positive results from the Tilapia-1 and Haimara-1 wells offshore Guyana, bringing the total number of discoveries on the Stabroek Block to 12.
    Full story
  • Hess to Participate in Credit Suisse 24th Energy Summit

    Hess announced today that John Hess, Chief Executive Officer, will present at the Credit Suisse 24th Annual Energy Summit in Vail on Tuesday, February 12 at 7:30 a.m. Mountain Time.
    Full story