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The results of the seven wells are as follows:
Well Name | Net Feet of Pay | Hydrocarbon Type | Water Depth | ||||
Paradise-1 | 415 | Oil and gas condensate | 6,040 feet | ||||
Hickory North-1 | 98 | Gas condensate | 6,455 feet | ||||
Beech-1 | 146 | Oil | 5,623 feet | ||||
Almond-1 | 53 | Oil | 7,251 feet | ||||
Pecan-1 | 245 | Oil | 8,245 feet | ||||
Cob-1 | 31 | Oil | 6,330 feet | ||||
Pecan North-1 | 40 | Oil | 7,411 feet |
The wells were drilled by the Stena Drillmax drillship in a range of
water depths between 5,623 and 8,245 feet. Hess achieved outstanding
drilling performance in terms of drilling time and cost per foot with
gross costs averaging
Based on the results of these wells and Hess’ extensive experience in
Hess holds a 90 percent working interest in the block and is the operator. GNPC is a 10 percent equity interest partner and is carried through to the production phase of the license.
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
Investor:
Jay
Wilson, 212-536-8940
or
Media:
Jon
Pepper, 212-536-8550