It's funny you don't hear the name Hess very much. Do you see any Hess stations? I believed the company may have gone away but no they are here and part of the only big oil discovery now.-
Offshore Guyana could contain billions more oil barrels, Hess CEO says
Jun. 02, 2022 6:55 PM ET
Hess Corporation (HES),
XOM
New oil findings at a deeper layer offshore Guyana
could add billions of barrels to what is already the world's largest oil discovery in 20 years, Hess (NYSE:
HES) CEO John Hess said Thursday, accordingto Reuters.
"There are multi-billion barrels remaining on top of" the 11B barrels of oil and gas found so far in the offshore Stabroek block, the CEO said, noting the Exxon-led (NYSE:
XOM) consortium, which made most of its 30-plus oil discoveries at depths of ~15K feet, has started to drill at 18K feet.
The Fangtooth discovery well drilled earlier this year at 18K feet, for example, could underpin another production unit on its own, said Hess, whose company owns a 30% stake in the group.
The Guyana projects are ahead of schedule, and Exxon's (
XOM) third planned platform may now start production at Payara as soon as Q3 2023, Hess told the Bernstein Strategic Decisions conference, adding that the Guyana gusher will exempt the company from needing to make acquisitions to sustain higher dividends to shareholders.
Lets Look Into HESS today.-