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Hess Announces 2021 E&P Capital and Exploratory Budget


Press release content from Business Wire. The AP news staff was not involved in its creation.
Hess Announces 2021 E&P Capital and Exploratory Budget
January 25, 2021 GMT
NEW YORK (BUSINESS WIRE) Jan 25, 2021
Hess Corporation (NYSE: HES) today announced a 2021 Exploration & Production capital and exploratory budget of $1.9 billion, of which more than 80% will be allocated to Guyana and the Bakken.
Net production is forecast to average approximately 310,000 barrels of oil equivalent per day in 2021, excluding Libya. Bakken net production is forecast to average approximately 170,000 barrels of oil equivalent per day in 2021. This forecast includes the impact of operating a two rig program beginning in the first quarter and a planned 45-day turnaround and expansion tie-in at the Tioga Gas Plant in the third quarter, which is expected to reduce full year 2021 Bakken net production by approximately 7,500 barrels of oil equivalent per day. ....

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Sapura Energy steers through uncertainties


In a statement, Sapura Energy president and group CEO Tan Sri Shahril Shamsuddin (pic) said the group pursued an agile strategy of utilising strategic assets to acquire capabilities across the value chain, expanding its global presence and diversifying into adjacent markets.
posted a RM17.2mil net profit for its third quarter (Q3) ended Oct 31,2020 compared with a RM100.9mil net loss a year ago.
The earnings were achieved on the back of better project margins from its engineering and construction (E&C) division, extra income from the previous 50% stake sale of a subsidiary, higher share of profit from associates and joint ventures, lower net finance cost as well as a reduction in foreign exchange loss and provision for restructuring costs. ....

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