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Hess Points to Higher E&P Budget for 2019

By  AOG Staff Wednesday, 31 October 2018 07:09
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U.S. oil and gas producer Hess Corp said on Wednesday its exploration and production budget in 2019 would be closer to $3 billion.

The company said it expects capital expenditure to average about $3 billion through 2025, up from its current-year forecast of $2.1 billion.

Chief Financial Officer John Rielly also said, on a call with analysts, the company plans to bring 50 percent more wells online in its Bakken oilfield in 2019, compared to 2018.

(Reuters, Reporting by John Benny in Bengaluru)

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