Quarterly / Earnings Reports | Second Quarter (2Q) Update | Capital Markets | Capital Expenditure | Drilling Activity | Capex Decrease | Drilling Program-Rig Count | Capital Expenditure - 2019
Hess Lowers 2019 Capex by $100MM; Bakken Drilling Up +42% YOY
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Hess Corp. reported its Q2 2019 results. Here are the highlights from its results / call:
Q2 Summary- Well Activity: Drilled / TIL 39 Bakken wells in Q2 - up +42% YOY
- Rigs: 6 rigs running in the Bakken - flat YOY
- Q2 D&C Spending: $664 million - up +27% YOY
- Q2 Production: Production averaged 273 MBOEPD - up +11% YOY
Bakken: 140 MBOEPD - up +23% YOY Decreases 2019 Capex by $100 MillionNet production guidance, excluding Libya, increased to 275,000 boepd to 280,000 boepd, the upper end of previous guidance; Bakken net production guidance increased to 140,000 boepd to 145,000 boepd, also at the upper end of previous guidance
E&P capital and exploratory expenditures are projected to be $2.8 billion, down from original guidance of $2.9 billion"Our production is now expected to come…
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