Hess Corporation

Latest Hess Corporation News

• Apache Corporation (NYSE, Nasdaq: APA) announced that an extension well had initial production rates higher than any oil well drilled at the Beryl Field in the U.K. North Sea since 2001.

• Oil production at Xtreme Oil & Gas' 5 Star West Thrifty Texas property wells have begun.

• The US Office of Energy Administration (a division of the US Government Office of Energy) estimates that almost 2/3rds (64%) of all the oil shale resources in the contiguous United States are located in California.
• The shale formation outcrops to the west in the project area and plunges down to approximately 11,000 feet in the east.

• Awarded work worth a combined value of more than £600,000 with oil and gas exploration and production companies Talisman Energy (UK) Limited and Hess.

• Dana Petroleum has reached an agreement with Hess Corporation to acquire Hess' 28.3% interest in the Bittern field, increasing Dana's share to 33%.

• Hess Corporation reported a net loss of $131 million for the fourth quarter of 2011 compared with net income of $58 million for the fourth quarter of 2010.

• Unconventional production and development expenditures of approximately $2.5 billion.
• Development expenditures of approximately $1.8 billion.
• Exploration expenditures of approximately $800 million.

• Wood Group Kenny has been awarded a contract to carry out the front end engineering and design (FEED) for the subsea development of Equus.
• The Equus project development consists of natural gas and condensate gas fields.

• Nexus has been acquired by Aberdeen-businessman, Mark Cavanagh.

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