Hess sells Shannon LNG assets
US oil giant Hess has sold its Shannon LNG assets, according to reports.
Hess
US oil explorers seen reporting $14billion in 2015 losses
During the next eight days, independent U.S. oil explorers are expected to report 2015 losses totaling almost $14 billion, the result of the steepest price collapse in a generation.
Hess to cut capital spending and production by 40%
Hess Corp. said it will cut capital spending on exploration and production this year 40 percent from 2015 to $2.4 billion on low oil prices.
Oil producers curb mega-project ambitions to focus on US shale
A stubborn 16-month crude rout with no end in sight is driving the largest US oil producers away from costly, high-risk mega-projects long touted as the industry’s future and toward safer shale operations that generate the cash needed to satisfy anxious investors.
Hess posts $567million quarterly loss
Hess Corp, which sold off fueling stations and refineries to focus on production, reported its second consecutive quarterly loss after crude prices fell.
Hess Corporation cuts exploratory budget by 16%
Hess Corporation has cut its 2015 exploratory budget by 16%. The company said it would be spending $4.7billion, a reduction from its 2014 spend of $5.6billion. Chief operating officer Greg Hill said the company would increase activity as oil prices began to recover.
Chevron and Hess produce oil from deepwater project
Chevron and Hess have started crude oil production from the Tubular Bells deepwater project in the Gulf of Mexico. The project is expected to produce 50,000 barrels of oil equivalent per day from three wells. The field is 135 miles southeast of New Orleans in 4,300 feet of water in the Mississippi Canyon area and was discovered in 2003.
Diamond Offshore wins charter contracts
Diamond Offshore Drilling has won a number of long-term charter contracts from US independent Hess for a pair of drillships. The Houston-based company also announced plans to retire and scrap six of its mid-water submersible rigs, including the Ocean Epoch, Ocean New Era and Ocean Whittington.