Hess Corporation introduced an oil discovery on the Esox-1 exploration nicely positioned in Mississippi Canyon Block No. 726 within the deepwater Gulf of Mexico.
Esox-1 was drilled in four,609 ft (1,405 meters) of water and encountered roughly 191 web ft (58 meters) of top quality oil bearing Miocene reservoirs. Esox-1 is positioned roughly 6 miles (10 kilometers) east of the Tubular Bells manufacturing amenities.
“We are delighted with the success of the Esox nicely, which demonstrates the worth of our infrastructure led exploration program within the deepwater Gulf of Mexico,” CEO John Hess stated. “We anticipate the nicely to be producing within the first quarter of 2020. As a low value tieback to current infrastructure, Esox ought to generate robust monetary returns.”
Hess Corporation is operator and holds 57.14% curiosity in Esox; Chevron U.S.A. Inc. holds 42.86% curiosity.
Hess Corporation is a number one international unbiased power firm engaged within the exploration and manufacturing of crude oil and pure fuel. More data on Hess Corporation is accessible at www.hess.com.
Cautionary Statements
This information launch incorporates projections and different forward-looking statements inside the which means of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These projections and statements mirror the corporate’s present views with respect to future occasions and monetary efficiency. No assurances may be given, nonetheless, that these occasions will happen or that these projections can be achieved, and precise outcomes might differ materially from these projected because of sure danger components. A dialogue of those danger components is included within the firm’s periodic reviews filed with the Securities and Exchange Commission.
We use sure phrases on this launch referring to sources aside from proved reserves, reminiscent of unproved reserves or sources. Investors are urged to think about intently the disclosure referring to proved reserves in Hess’ Form 10-Okay, File No. 1-1204, out there from Hess Corporation, 1185 Avenue of the Americas, New York, New York 10036 c/o Corporate Secretary and on our web site at www.hess.com You may get hold of this way from the SEC on the EDGAR system.
(Source and picture: Hess)

The publish HESS REPORTS OIL DISCOVERY IN MISSISSIPPI CANYON IN THE DEEPWATER GULF OF MEXICO appeared first on Energy Global News.

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