<< Back |
Announces Positive Liza-4 Results, Further Increasing Resource Estimate
The first phase of a planned multiphase development of the Liza Field is
expected to have a gross capital cost of approximately
“Development of the world class Liza resource with a low cost, phased
approach accelerates first production and positions us to deliver
significant value to our shareholders,” CEO
In 2017 and 2018, Hess and its partners plan to continue exploration and appraisal of the 6.6 million acre Stabroek block. There are numerous prospects across multiple play types on the block, representing additional multibillion barrel unrisked exploration potential. Drilling of the Payara-2 well, which will also test a deeper prospect underlying the Payara oil discovery, is expected to commence in late June following completion of a drillstem test at Liza-4.
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: http://www.businesswire.com/news/home/20170616005327/en/
Source:
Hess Corporation
Investors:
Jay Wilson,
212-536-8940
jrwilson@hess.com
or
Media:
Lorrie
Hecker, 212-536-8250
lhecker@hess.com