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NEW YORK--(BUSINESS WIRE)--Jan. 12, 2012--
Unconventional production and development expenditures of approximately
- Development of the
Bakken Shale inNorth Dakota , where Hess plans to continue to operate 16 rigs and progress the expansion theTioga Gas Plant - Drilling appraisal wells in the
Eagle Ford Shale inTexas and theUtica Shale inOhio
Production expenditures of approximately
- Drilling production and water injection wells at Shenzi (Hess 28 percent), and drilling production wells at the Llano Field (Hess 50 percent) in the deepwater Gulf of
Mexico - Drilling production wells on Block G (Hess 85 percent - operator) in
Equatorial Guinea
Development expenditures of approximately
- Commencing development drilling at the Tubular Bells Field (Hess 57 percent – operator) in the deepwater Gulf of
Mexico - Completion of field redevelopment and gas lift projects at the Valhall Field (Hess 64 percent) in
Norway - Concluding appraisal activities and progressing front end engineering and design work at WA-390-P (Hess 100 percent - operator) offshore
Western Australia - Progressing development of Block A-18 (Hess 50 percent) in the Joint Development Area (JDA) in the Gulf of
Thailand , including wellhead platform installations and ongoing drilling activities
Exploration expenditures of approximately
- Drilling exploration wells in
Ghana ,Indonesia ,Brunei and the deepwater Gulf ofMexico - Acquiring seismic at the Dinarta and Shakrok Blocks (Hess 80 percent - operator) in Iraqi
Kurdistan
2012 Estimated Capital and Exploratory Expenditures ($ Millions) | ||||||||
By Segment: | By Region: | |||||||
Exploration and Production | Exploration and Production | |||||||
Unconventionals | 2,500 | United States | 3,350 | |||||
Production | 1,600 | Europe | 1,300 | |||||
Development | 1,800 | Africa | 650 | |||||
Exploration | 800 | Asia and Other | 1,400 | |||||
Total Exploration and Production | 6,700 | 6,700 | ||||||
Marketing, Refining and Corporate | 100 | |||||||
Total | 6,800 |
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
Source:
Hess Corporation
Investors:
Jay Wilson, 212-536-8940
or
Media:
Jon Pepper, 212-536-8550