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BS - Hess opts for more capex in 2020, but less in Bakken - February 11, 2020
During 2020, Hess Corp. plans to grow production 15% YOY at midpoint to 330,000- 335,000 boe/d and spend $3 billion on E&P, up from $2.9 billion in 2019. Of the total, 80% will be allocated to growth assets in the Bakken and Guyana. In the Bakken $1.375 billion—down $100 million versus 2019—will fund a sixrig program to drill 170 wells and bring 175 wells online; production is expected to reach 200,000 boe/d by YE20......
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