A day after announcing a
Hess is focused primarily on operations in the Bakken shale formation in the Northern Plains and deposits offshore
For 2023, Hess is expecting the full-year average to be in the range of 355,000 to 365,000 barrels of oil equivalent per day, a 10% increase over the 2022 average should the forecast prove accurate.
"Our strategy is to grow our resource base, deliver a low cost of supply and generate industry-leading cash flow growth -- and at the same time maintain our industry leadership in environmental, social and governance performance and disclosure," CEO
The Starbroek reserve offshore
Companies like Hess have come under fire for focusing more on returning value to their shareholders rather than spending more on new exploration and production. And while Hess pre-empted its quarterly earnings report with a preview of spending, net income of
The successful execution of corporate plans, the CEO said, "has uniquely positioned our company to deliver significant value to shareholders by both growing intrinsic value and growing cash returns."
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