Top Story | Capital Markets | Capital Expenditure | Capital Expenditure - 2023
Hess Increases Capex + 42%; Bakken Development Up +40%
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Hess provided a look at its 2023 development program. The company plans include increasing the bakken development program by 39%. The company will see well count increase to 110 vs 85 last year a 33% increase.
Production
$1.1 billion to fund a four rig program in the Bakken. The company expects to drill approximately 110 gross operated wells and to bring online approximately 110 wells in 2023. Funds are also included for investment in nonoperated wells. $225 million for production activities at North Malay Basin (Hess 50% and operator) offshore Peninsular Malaysia and the Malaysia/Thailand Joint Development Area (Hess 50%) in the Gulf of Thailand. $125 million for production activities in the Gulf of Mexico, including drilling two tieback wells and seismic acquisition and…- ✓ Full news archive — U.S., Canada & international coverage
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