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Deepwater Tano/Cape Three Points is located 70 miles offshore Ghana in the Gulf of Guinea. Hess has drilled seven successful exploratory wells in water depths between 5,623 feet and 8,245 feet. Under terms of our license and subject to resolution of the border dispute, we have declared commerciality for four discoveries, including the Pecan Field in March 2016, which would be the primary development hub for the block. We are continuing to work with the government on how best to progress work on the block given the maritime border dispute.
Stampede, located in the Gulf of Mexico 115 miles south of Fourchon, Louisiana, in the deepwater Green Canyon area, was discovered in 2005. Stampede leverages proven deepwater capability, has significant contribution to 2018+ growth and is one of the largest undeveloped fields in the Gulf of Mexico. First production is expected in the first half of 2018. Gross topsides processing capacity for the project is approximately 80,000 barrels of oil per day and 100,000 barrels of water injection capacity per day. Total estimated recoverable resources for Stampede are estimated in the range of 300–350 million barrels of oil equivalent.
The Melmar prospect in the Alaminos Canyon area of the deepwater Gulf of Mexico is the largest remaining four-way structure in the Perdido Fold Belt trend. ConocoPhillips is the operator and Hess has a 35 percent working interest.
The Liza oil discovery, located on the Stabroek Block approximately 120 miles offshore Guyana, is one of the largest in the past decade. A second significant discovery on the Block – Payara -- was confirmed in 2017, bringing gross discovered recoverable resource for Stabroek Block to between 2.25 billion and 2.75 billion barrels of oil equivalent. The Stabroek Block comprises 6.6 million acres -- equivalent in size to 1,150 Gulf of Mexico OCS blocks -- and contains multiple prospects and play types, with additional multibillion barrel unrisked exploration potential. Hess and its co-venture partners sanctioned the first phase of the Liza development in mid-2017 with first production expected by 2020. Further exploration and appraisal drilling is planned for 2017 and 2018.
Hess has partnered with operator BP to explore four deepwater licenses offshore Nova Scotia, which are equal in size to 600 deepwater Gulf of Mexico OCS blocks. Although a frontier area, based on 3D seismic data, the geology appears analogous to deepwater Gulf of Mexico. Exploration drilling is planned to commence in 2018. Hess has a 50 percent working interest.
In 2017, Hess announced entry to Block 59 along the northeast margin of South America, approximately 190 miles from Suriname’s capital city of Paramaribo. The 2.8 million acre Block, which is contiguous to Block 42, is in water depths ranging from approximately 2,000 to 3,600 meters and shares a maritime border with Guyana.
In 2016, Hess Suriname Exploration Limited, a wholly-owned subsidiary of Hess Corporation, acquired a one-third non-operated interest in the Block 42 contract area, which is located offshore Suriname in the Guyana-Suriname Basin along the northeast margin of South America. The Block is 1.5 million acres at water depths ranging from 1,800 to 2,700 meters.
Hess pursues an exploration program that delivers value and long-term growth through a balanced global portfolio.
Hess Corporation is a leading independent energy company with operations globally. To learn more about Hess Corporation's assets, click on a Hess location.
The Ceiba Field, located about 20 miles offshore Equatorial Guinea in the Gulf of Guinea, was discovered in 1999 and began producing oil in 2000. The adjacent Okume Complex was discovered in 2001 and first production was 2006. Net production in 2016 was 33,000 barrels of oil equivalent per day.
The Malaysia/Thailand Joint Development Area (JDA) is located in the Gulf of Thailand about 93 miles from Kota Bharu, Malaysia and 161 miles from Songkhla, Thailand. Gas was discovered in 1971 and production began in 2005. Production for 2016 was 33,000 barrels of oil equivalent per day. No drilling is planned for JDA for 2017 as contracted volumes are expected to be met as a result of the booster compression project.
We operate in Libya as a member of the Waha (Oasis Group) consortium with 13 producing fields in the hydrocarbon-rich Sirte basin. Five large oil fields were discovered between 1958 and 1961 and production started in 1962. Production has been interrupted in recent years due to civil unrest, and currently suspended since early 2015.
Shenzi, located in the Gulf of Mexico 120 miles off the Louisiana coast, in the deepwater Green Canyon area, was discovered in 2002 and achieved first oil in 2009. Production for 2016 is included in the Gulf of Mexico total of 61,000 barrels of oil equivalent per day.
Valhall, located 180 miles offshore of southern Norway in the Norwegian North Sea, was discovered in 1975 and began producing oil and gas in 1982. Net production in 2016 was 28,000 barrels of oil equivalent per day, compared to an average of 33,000 boepd in 2015. Decrease from the prior year due to lower drilling activity, natural field decline and a planned shutdown.
Baldpate, located in the Gulf of Mexico 110 miles off the Louisiana coast in the Garden Banks area, was discovered in 1991 and achieved first oil through the world's first free-standing compliant tower platform in 1998. Production for 2016 is included in the Gulf of Mexico total of 61,000 barrels of oil equivalent per day.
Llano, located in the Gulf of Mexico approximately 150 miles off the Louisiana coast in the Garden Banks area, was discovered in 1997 and achieved first oil in 2004. Production for 2016 is included in the Gulf of Mexico total of 61,000 barrels of oil equivalent per day.
Hess discovered oil in North Dakota in 1951. With its prime, industry-leading acreage position, Hess Bakken operations in North Dakota are competitive with the best shale-oil plays in the world. Our top quartile operating performance and our infrastructure advantage help us deliver some of the highest returns in the play. We continue to increase productivity and reduce drilling and completions costs through the consistent, widespread and focused application of Lean. We have established more drilling spacing units in the core of the play than any other operator and our initial production rates (IPs) have continued to increase due in part to our continued downspacing of wells and increased frac stages. In 2016, the Bakken shale play averaged 105,000 barrels of oil equivalent per day.
South Arne, located 150 miles west of Esbjerg in the Danish North Sea, was licensed in 1989 and has produced oil and gas since 1999. Net production in 2016 was 13,000 barrels of oil equivalent per day.
Hess operates the North Malay Basin - Integrated Gas Development project, located 186 miles offshore Peninsular Malaysia, under a Production Sharing Contract with PETRONAS. The field was discovered in 1979 and began production in 2013. Production for 2016 was 6,000 barrels of oil equivalent per day. Net production for 2017 is expected to be ~165 million standard cubic feet of gas per day.
Hess has 45,000 core net acres in Ohio and operates in Jefferson, Belmont, Harrison and Guernsey counties as part of a 50/50 joint venture with CONSOL Energy Inc. Hess is well-positioned for future growth in the Utica shale play in Ohio, where our prime acreage is in the heart of the wet gas window. Our wells are highly productive and have high liquids content. Drilling and completion costs have been reduced by 30 percent by applying the same Lean manufacturing techniques used at our Bakken asset in North Dakota. Production for 2016 is included in the non-Bakken total of 42,000 barrels of oil equivalent per day.
Conger, located in the Gulf of Mexico 125 miles off the Louisiana coast, is a subsalt, high-pressure, high-yield gas/condensate field in the Garden Banks area, was discovered in 1997 and achieved first oil in 2000. Production for 2016 is included in the Gulf of Mexico total of 61,000 barrels of oil equivalent per day.
Tubular Bells, located in the Gulf of Mexico 135 miles southeast of New Orleans in the deepwater Mississippi Canyon area, was discovered in 2003 and achieved first oil in 2014. Production for 2016 is included in the Gulf of Mexico total of 61,000 barrels of oil equivalent per day.
Penn State, located in the Gulf of Mexico 125 miles off the Louisiana coast, is a subsea tieback to Baldpate in the Garden Banks area. Penn State was discovered in 1995 and achieved first oil in 1999. 2016 net production was 3,000 barrels of oil equivalent per day; expected to increase when PS Well #6 is online in Q3 2017.
Hess is committed to a long-term strategy of growing its reserves and production. We had 1.4 billion boe of proven reserves at the end of 2014.
A leading terminal operator for more than 60 years, we have storage capacity for 21 million barrels of gasoline, distillate, biofuels and residual fuel oil product at 20 U.S. facilities from New York to Florida. Our terminals are strategically located to support our retail chain and fuel oil customers. In addition, we buy, sell, trade and transport crude oil, refinery feedstock and finished petroleum products.
We provide competitively priced solutions and market analysis to meet the energy needs of commercial, industrial and institutional customers. Since 1933 our customers have depended on us to deliver superior and reliable fuel oil products at great prices. Today, we are a leading supplier of electricity, natural gas and fuel oil to about 21,000 commercial, industrial and wholesale customers in 21 states and the District of Columbia, and also serve utilities and other wholesale customers.
We offer comprehensive energy solutions and cost-effective pricing plans for natural gas and electricity. In 2012 we opened our first natural gas-fired electric power plant in Bayonne, N.J. in partnership with ArcLight Capital Partners. We are developing a second power plant in Newark, N.J.
Hess is a one-stop shop for more than 1.3 million customers each day. We are known for our clean facilities, friendly service, great products and competitive prices. Our employees and customers know it as the "Hess Way" – and we think it is one reason we have outpaced the industry averages for both fuel and merchandise sales at our company-operated stores. We have been in the quick-serve restaurant business since 1997. Our key partners include Dunkin' Donuts, Quiznos and Godfather's Pizza. The Hess Toy Truck has been a holiday tradition since 1964. It is among the best-selling toys in America and captures nearly 10 percent of the entire annual toy truck market. In 2012, for the first time, the Hess Toy Truck was also offered online.