Articles tagged Hess

Chevron Corp. CEO Mike Wirth is calling out the Biden administration for taking cheap shots on the natural gas industry, urging that a directive be lifted that has deferred approvals of some U.S. LNG projects.

Chevron Corp.’s domestic operations, particularly in the Permian Basin, performed “stronger than we had anticipated” in the first quarter, with improved cycle times and natural gas and oil output, CEO Mike Wirth said Friday.

Upstream mergers and acquisitions (M&A) had a banner year in 2023 in the oil and gas sector, with dealmaking reaching a whopping $192 billion total, according to the latest quarterly tally by Enverus Intelligence Research (EIR).

Interest in the final oil and natural gas auction in the Gulf of Mexico for the year – and potentially the only one until 2025 – was strong on Wednesday, with the highest bid total since 2015.

Chevron Corp. agreed Monday to snap up Hess Corp. in an all-stock transaction valued at $53 billion, enlarging the supermajor’s Lower 48 and Gulf of Mexico portfolios and giving it entry into rich discoveries offshore Guyana in the Stabroek block.

Major global natural gas and crude oil producer Hess Corp. is donating $50 million to Salk Institute’s Harnessing Plants Initiative (HPI) over the next five years to advance initiatives toward net-zero emissions.

Hess Corp. has set a $3.7 billion exploration and production budget for 2023, with more than 80% of funds allocated to its flagship Bakken Shale and Guyana operations. This would be up from the $2.7 billion budget for full-year 2022 that the firm forecasted in October.

North Dakota’s natural gas production averaged 3.09 Bcf/d in August versus 3.1 Bcf/d in July, according to the latest figures from the state’s Department of Mineral Resources (DMR). 

The North Dakota Tribal College System (NDTCS) is partnering with three leading oil and gas companies on an apprenticeship program to develop a homegrown workforce in the energy sector and other trades.

U.S. independent Hess Corp. expects production from its Bakken Shale assets to grow 6-9% in 2022 to 165,000-170,000 boe/d.