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Hess Takes Hit in Q2 as Losses Increase 15% YOY
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Hess has reported its Q2 2017 results. Highlights include:
Higher net loss YOY: Hess reported a net loss of $449 million for Q2 2017 (15% higher than its $392 million net loss for Q2 2016)
US Onshore / Bakken: Net production from the Bakken averaged 108,000 boepd, compared to 106,000 boepd in the prior-year quarter. The Corporation operated an average of four rigs in the second quarter, drilling 23 wells and bringing 13 new wells online.
Latest Discoveries: Confirmed positive results from the Liza-4 well that encountered more than 197 feet of high-quality, oil-bearing sandstone reservoirs.
Successful Payara-2 well, which encountered 59 feet of high-quality, oil bearing sandstone reservoirs and confirms a second giant field containing gross discovered recoverable resources of ~500 MMBOE.
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