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Hess Corporation oil and gas exploration summary

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01 October 2018

Hess Corporation oil and gas exploration summary

Report summary

Hess has sharpened the focus of its portfolio, positioning itself for production and cashflow growth over the next decade, while promising to deliver sustainable, superior returns to shareholders. Two legacy offshore areas remain as cash generators: Malaysia (long-life gas) and the deepwater US Gulf of Mexico (production hubs with near-field exploration opportunities). The Bakken will provide near-term growth and aims to be cash generative in the near term. Guyana has delivered transformational success for Hess: giant volumes with excellent full-cycle returns. Future exploration drilling along the western edge of the Atlantic Margin is central to Hess' medium term strategy, and the company is committed to conventional exploration across a geographically-focused portfolio, with risk reduced through partnering. Full details are provided in our report, and all data and analysis can be downloaded in excel and pdf format.

Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration outlook
    • Other Hess Corporation research
      • SWOT grid
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
  • Reserves and resources
    • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
    • Good resource additions but commerciality and value in question to 2014
    • World-class success and value in Guyana
    • Liquids-rich unconventional expansion gives reserves a boost

Tables and charts

This report includes 24 images and tables including:

  • Basins drilled and all conventional & organic unconventional discoveries 2008-2017
  • Ten year performance summary
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Investment and costs: Image 3
  • Discovery costs by water depth
  • Top 40 discoveries (2008 to 2017)
  • Key organic unconventional plays
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Full-cycle economics
  • Net active exploration acreage by water depth
  • Net active exploration acreage by country
  • Gross conventional exploration & appraisal wells by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Production: Image 1
  • Full cycle value creation by year, with uncons
  • Exploration returns by year, with uncons
  • Costs and development value by reserve category
  • Exploration returns by water depth
  • Strategy: Table 1

What's included

This report contains:

  • Document

    Hess Corporation oil and gas exploration summary

    PDF 1.18 MB