Hess Corporation Archives - Panorama Insurance Brokers

Guyana’s prime oil assets address world’s dual challenge on energy supply, emissions reduction – Hess

Even as world leaders make big commitments to transition to renewable energy so as to achieve net-zero emissions by 2050, oil will still be needed along the way to meet global needs. During his company’s 2021 Q2 Earnings call, Hess Corporation’s Chief Executive Officer (CEO), John Hess, acknowledged this while noting that it was also… Read More

Hess significantly reduces losses in Q2, Guyana activities advancing

Hess Corporation which holds a 30 percent working interest in the Stabroek Block offshore Guyana, disclosed today that it sustained a net loss of US$73 million, or US$0.24 per common share, in the second quarter of 2021. This represents a significant improvement when compared with a net loss of YUS$320 million, or $1.05 per common… Read More

Hess anticipates drilling US$1B into Guyana oil developments next year

Even as it keeps a close eye on market forces and how those may shift to affect its capital allocation, Hess Corporation has disclosed that it intends to plug up to US$1B into oil development projects offshore Guyana next year. Making this known recently was John Reilly, Hess’ Chief Financial Officer (CFO) during his participation… Read More

Hess well positioned to meet oil, gas demand for next 10-20 years – CEO

Hess Corporation expects the global oil and gas industry to be around for as long as two decades. So said its Chief Executive Officer (CEO), John Hess during JP Morgan’s virtual Energy and Renewables Conference last week. This is based on Hess’ projection of global demand, even with commitments by governments to work to reduce… Read More

Guyana could surpass 1 million bpd milestone as early as 2025 – Hess CEO

By 2025, Guyana could be producing approximately 1.2 million barrels of oil per day (bpd) from five floating vessels in the Stabroek Block. Making this latest disclosure was Chief Executive Officer (CEO) of Hess Corporation, John Hess during his participation in a Fireside Chat at the J.P. Morgan 2021 Energy, Power & Renewables Conference on… Read More

Stabroek co-venturer identifies potential 5th and 6th developments

While the Stabroek Block co-venturers are pleased with the recent appraisal results at Longtail-3, the 20th commercial discovery on the offshore concession, it is highly likely that two other prospects will be next in line for development says Chief Operating Officer (COO) of Hess Corporation, Greg Hill. Expounding on this during his participation in the… Read More

Hess increased stake in Kaieteur Block points to expectation of future discoveries – Rystad Energy

Although the first and deepest well ever to be drilled in the Guyana-Suriname Basin on the Kaieteur Block failed to deliver commercial crude, upstream players on the acreage said the prospect yielded significant data. Tanager-1 reached a total depth of 7,633 metres. Evaluation of LWD, wireline logging and sampling data confirmed 16 metres of net oil… Read More

Koebi-1 fails to deliver commercial crude, but Stabroek bonanza grows

The success rate at the Stabroek Block offshore Guyana remains unprecedented with significant hydrocarbon resources being found over the last year at previously announced discoveries. Even with disappointment at some of the wells, the overall oil strikes remain on an upward trajectory as exploration and appraisal drilling intensify. In announcing a new discovery at the… Read More

Guyana-Suriname Basin will be important to global energy transition – Hess VP Exploration

In order for the energy needs of the world to be met, upstream investments will have to significantly increase in the coming years. Deepwater ‘advantaged barrels’ in locations such as the Guyana-Suriname Basin will therefore continue to play a pivotal role in the global push for low-carbon energy sources. Timothy Chisholm Timothy Chisholm, Hess Corporation’s… Read More

Hess anticipates expeditious approval for Yellowtail from Guyanese authorities keen on maintaining economic surge

Stabroek Block co-venturer Hess Corporation says the application for its fourth development offshore Guyana at Yellowtail is going through an evaluation process that is expected to conclude before the end of the year with approval from the Guyana government. The company said Guyanese authorities are keen on maintaining the momentum of the Stabroek Block projects… Read More