Hess Announces Seventh Oil Discovery Offshore Guyana
Hess Corporation Logo header
SEARCH

Hess Announces Seventh Oil Discovery Offshore Guyana

  • Stena_Carron_Daytime_crop
02.28.2018

Hess announced a seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well. The Pacora-1 well is located approximately four miles west of the Payara-1 well, and follows previous discoveries on the Stabroek block at Liza, Payara,  Liza Deep , Snoek, Turbot and Ranger.

“The giant Payara field, which is planned as the third development offshore Guyana, will now include Pacora resources – increasing the size of the FPSO and bringing expected gross production from the first three phases of development to more than 500,000 barrels of oil per day,” CEO   John Hess   said. “The Pacora oil discovery reaffirms the remarkable exploration potential of the Stabroek Block.”

Full story 



Related News
  • In the Media: Evolution of Designs Hastens U.S. Shale Boom

    Hess’ financial and production metrics have experienced a marked increase following its move to plug-and-perf (PNP) completion designs and improved well spacing after the price collapse of 2014. The company reported in its December 2018 investor presentation that its adoption of PNP completions is forecast to result in increases in production to about 200,000 boe/d and net present value by about $1 billion.
    Full story
  • Hess Announces Regular Quarterly Dividend On Common Stock - June 2019

    The Board of Directors of Hess Corporation (NYSE: HES) today declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on June 28, 2019 to holders of record at the close of business on June 17, 2019.
    Full story
  • Bigger, Better, Bakken: Petroleum Industry Optimism In North Dakota

    With exports from the Bakken formation centered on western North Dakota already heading to Asian and European markets, the future for North American shale and onshore production, for at least the next two decades, appears promising, according to Barry Biggs, Vice President of Onshore for Hess.
    Full story