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- Compound annual production growth of more than 10 percent combined with margin expansion set to drive compound annual cash flow growth of approximately 20 percent through 2025
-
Bakken production set to grow to approximately 200 thousand barrels of
oil equivalent per day by 2021 and generate more than
$1 billion of annual free cash flow post 2020 at a$60 per barrel WTI oil price -
World class
Guyana position with more than 5 billion barrels of oil equivalent gross discovered resources offers industry leading financial returns and cost metrics -
Structurally lowering costs to a portfolio breakeven of less than
$40 per barrel Brent by 2025 - Strong cash position, 2019 WTI hedges and spending flexibility provide ability to fund high return growth projects in a low oil price environment without equity or debt financing
“We are at a transformative inflection point in our company’s history
and are uniquely positioned to deliver strong financial returns, visible
and low risk production growth and accelerating free cash flow well into
the next decade,” Chief Executive Officer
Presenters at today’s Hess Investor Day will include Chief Executive
Officer
Cautionary Statements
This news release contains projections and other forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
projections and statements reflect the company’s current views with
respect to future events and financial performance. No assurances
can be given, however, that these events will occur or that these
projections will be achieved, and actual results could differ materially
from those projected as a result of certain risk factors. A
discussion of these risk factors is included in the company’s periodic
reports filed with the
We use certain terms in this release relating to resources other than
proved reserves, such as unproved reserves or resources. Investors are
urged to consider closely the disclosure relating to proved reserves in
Hess’ Form 10-K, File No. 1-1204, available from
View source version on businesswire.com: https://www.businesswire.com/news/home/20181212005657/en/
Source:
Investor Contact:
Jay Wilson
(212) 536-8940
Media Contacts:
Lorrie Hecker
(212) 536-8250
Jamie Tully, Sard Verbinnen & Co
(312) 895-4700