Newsroom

E&P Magazine featured Stampede as its February 2017 cover story on “Innovation through Collaboration.” The article examined how Hess and Heerema Marine Contractors collaborated to install 12 piles in 12 days leveraging Lean thinking to create value and improve safety, quality, delivery and cost.

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.

The energy industry’s lack of investment in offshore long-cycle projects is bound to create a widening gap between supply and demand by 2020, Hess CEO John Hess recently told a gathering of energy industry leaders, experts, government officials and policymakers in Houston.

Lean times require lean measures. And the oracle of lean in oil and gas is New York City-based Hess Corp., which has found that the process of continuous improvement at the center of lean manufacturing also creates the opportunity for profit in a commodity resource business.

Hess Corporation (NYSE: HES) has earned a place on Corporate Responsibility magazine’s prestigious list of 100 Best Corporate Citizens for 2017.

The first quarter 2017 results were improved as higher realized crude oil selling prices and lower operating costs and exploration expenses more than offset the change in deferred income taxes and lower production volumes.

When Materion Corp. and Hess Corp. developed and added the new ToughMet Sucker Rod Couplings to Hess wells, run times tripled, workover costs were cut significantly and fluid production increased by 10% to 15%.

Data analysis from Hess wells is just one part of the company’s Lean process that continuously removes wasted effort and adds value across Hess Bakken assets.

Drillers are inching back to action in North Dakota’s Bakken shale region, a sign of the recovery of the American oil and gas sector, writes the Wall Street Journal.

Hess has sanctioned the first phase of development of the Liza Field, one of the industry’s largest oil discoveries, located on the Stabroek Block offshore Guyana.

Hess Corporation has entered into an agreement to sell its interests in enhanced oil recovery (EOR) assets in the Permian Basin to Occidental Petroleum Corporation for a total consideration of $600 million, effective June 1, 2017.