Hess in the Media: Stampede, North Malay Basin Highlighted as Upcoming Cash Generators in Hess CAPEX Budget
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Hess in the Media: Stampede, North Malay Basin Highlighted as Upcoming Cash Generators in Hess CAPEX Budget

  • The Ocean BlackLion drillship

A Subsea Engineering News article reported that “Stampede stays on track for 2018 first oil” and provided updates on the Stampede and North Malay offshore development projects.

“Improved market conditions have given way to plans for more spending by many oil and gas companies,” the article noted. “Hess Corp., which has unveiled a $2.25 billion E&P capital and exploratory budget, is no exception."

“Our 2017 budget reflects our balanced approach to investing in short cycle and long cycle growth options while maintaining our financial flexibility,” CEO John Hess said in the Jan. 12, 2017 company statement. “With our leadership position in the Bakken, two offshore developments—North Malay Basin and Stampede—that will become significant cash generators starting in 2017 and 2018 respectively, and the world-class Liza discovery on track for sanction in 2017, Hess is well positioned to deliver sustainable growth, cash generation and returns for our shareholders.”

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