Newsroom

Hess was named E&P Explorer of the Year in a 15th annual Wood Mackenzie exploration industry survey announced June 2023. It is the second consecutive year that Hess has earned the distinction.

Hess Corporation today announced publication of its annual sustainability report, which provides a comprehensive review of the company’s strategy and performance on environmental, social and governance (ESG) programs and initiatives.

Hess Corporation, together with the Government of Guyana, earned the annual Energy Transition Initiative Award from the Association of International Energy Negotiators (AIEN) for leadership in creating a sustainable energy future.

Hess Corporation has replaced diesel fuel with electricity to power its four Bakken drilling rigs – a project that over the next five years is expected to reduce the greenhouse gas emissions from these rigs by approximately 50% and energy costs from these rigs by nearly 70%. The change has also reduced truck traffic, noise and odors that result from delivery and use of diesel fuel.

Eight members of Congress joined senior Hess leaders earlier this month on a tour of the Hess Stampede facility in the Gulf of Mexico to learn about Hess’ business and the policy issues impacting the asset. The delegation was led by House Majority Leader Steve Scalise, R-La, whose Louisiana district includes Port Fourchon, home of the Hess Shorebase.

“We are focused on building a sustainable enterprise that helps meet the world’s growing energy needs in a safe, environmentally responsible, socially sensitive and profitable way." —Gerbert Schoonman, Senior Vice President, Production, Hess Corp.

Hess Corporation recently announced it has made a final investment decision to proceed with Uaru, the fifth development on the Stabroek Block, after receiving government and regulatory approvals. Uaru will have a production capacity of approximately 250,000 gross barrels of oil per day with production targeted to startup in 2026.

From an operator’s perspective, minimizing downhole losses while maintaining wellbore stability is one of the biggest challenges to successfully drilling an extended-reach well. Michael Yao, Senior Rock Mechanics Advisor at Hess, noted that extended laterals tend to have more breakouts than vertical or less deviated wells. This means a higher mud weight is often required to keep the wellbore stable.

Data analytics can help an E&P company better understand the reservoir formations it pursues while maximizing production. Data also are key to monitoring facility and equipment performance, flagging anomalous conditions that could result in system damage.

The North Dakota Tribal College System (NDTCS) announced a new apprenticeship program developed in partnership with Hess Corporation to improve educational and employment opportunities for Native Americans across North Dakota.

Hess Corporation and the Government of Guyana recently announced an agreement for Hess to purchase high quality carbon credits for a minimum of $750 million between 2022 and 2032 directly from the Government of Guyana.