Wednesday, May 22, 2019

Hess Corporation News

Ghana Exploration Licensing Round Attracts Global Majors

Photo courtesy of Tullow Oil

Sixteen oil and gas firms have submitted applications for one or more of five Ghanaian offshore blocks in the West African country's first exploration licensing round, its energy ministry said.The interest is a major vote of confidence in Ghana, which is keen to unlock more resources after it began pumping from its flagship offshore Jubilee field in 2010.The companies that have submitted applications are Tullow Oil…

Hess Corp Completes Drilling on Aspy Well Offshore

Image: Hess Corporation

The  exploration and production company Hess Corporation said that Aspy probe did not encounter commercial quantities of hydrocarbons.Hess Corporation announced in a press statement that drilling of the Aspy exploration well offshore Nova Scotia reached total depth of 7,400 meters."The prospect did not encounter commercial quantities of hydrocarbons and Hess’ share of the well cost through September 30…

Deepwater Survey Completed in Working Oilfield

Fairfield Geotechnologies completes Gulf of Mexico Ocean Bottom Node surveyFairfield Geotechnologies announces the successful completion in May 2018 of the Stampede deepwater ocean bottom node survey, located in the Green Canyon area of the Gulf of Mexico. The field, operated by the Hess Corporation, is in approximately 3,500 ft. of water. The 238 km2…

ExxonMobil, Hess Announce Oil Discovery Offshore Guyana

Stena Carron (Photo: Stena Drilling)

ExxonMobil and the Hess Corporation announced an eighth oil discovery offshore Guyana at the Longtail-1 well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The companies said approximately 78 meters of high-quality, oil-bearing sandstone reservoir was encountered. The well was drilled to 5,504 meters depth in 1,940 meters of water by the Stena Carron drillship on May 25, 2018.

Ghana to Launch First Exploration Licensing Round in Q4 2018

© DJ / Adobe Stock

Ghana will launch its first exploration licensing round in the last quarter of this year offering about six offshore blocks, deputy energy minister Mohamed Amin Adam said. Ghana currently produces 200,000 barrels of oil per day (bpd), led by its flagship Jubilee field which produces about 100,000 bpd, he said. The west African nation, which became a significant oil producer in 2010 when it began pumping from the offshore Jubilee field…

McDermott Awarded Subsea Work for Hess

McDermott International, Inc. said it was awarded a contract from Hess Corporation for subsea tieback work for its deepwater Penn State Deep (PSD) field in the Gulf of Mexico. “This marks our first project with Hess Corporation in recent history and we look forward to providing industry best operational excellence, quality and safety,” said Scott Munro, McDermott’s Vice President for Americas, Europe and Africa.

Materion to Launch Toughmet Solutions at OTC

At this year’s Offshore Technology Conference (OTC), Materion Corporation, an advanced materials solutions provider, will introduce two ToughMet products engineered to improve the reach, reliability and accuracy of oil and gas equipment components. ToughMet 3 TS 130, a new temper of Materion’s high strength, spinodally hardened copper-nickel-tin alloy, offers 10 percent greater ductility and yield strength of 140 ksi.

Oil Rally Drives Producer Hedging

A rally in oil prices that has pushed WTI spot levels above US$60 has drawn a spate of hedging activity as producers look to lock in 2016 cashflows. California Resources Corporation, Cenovus Energy, EP Energy, EQT Corporation, Marathon Oil, Hess Corporation, Gulfport Energy, and Whiting Petroleum all initiated new hedges or added to existing hedges in the first quarter on the back of a US$10 rally from early January.

Proserv Inks Hess Subsea Deal

Proserv will be providing subsea control systems for Hess Corporation in the Gulf of Mexico.

Proserv has secured a major contract win worth in excess of $20 million in the subsea arena. This latest award by Hess Corporation is for the provision of a 12-well subsea control system along with associated topside and subsea interface equipment for the deepwater Stampede development, situated in the Gulf of Mexico. Work for the project will be carried out in various Proserv subsea service centres and technology hubs around the world…

Tubular Bells Development Produces First Oil

The Tubular Bells floating production facility is a classic spar hull with traditional three-level topsides. (Photo Hess)

Chevron Corporation announced that the Hess Corporation-operated Tubular Bells deepwater project, located in the U.S. Gulf of Mexico, has started crude oil and natural gas production. The field is located 135 miles (217 km) southeast of New Orleans, in approximately 4,300 feet (1,310 m) of water in the Mississippi Canyon area. The discovery well was drilled in 2003, and project construction began in October 2011.

Chevron Sanctions Stampede Project

Project map

Chevron Corporation announced today that its subsidiary, Union Oil Company of California (Union), has reached a final investment decision to proceed with the development of the Hess Corporation-operated Stampede project in the deepwater U.S. Gulf of Mexico. Stampede is a deepwater subsea development, which will be tied-back to a newly constructed Tension Leg Platform.

Hess, PDVSA Receive Offer for US Virgin Island's Hovensa Refinery

Hess Corporation and Venezuela's state-run PDVSA have found an interested buyer for their 350,000 barrel per day (bpd) Hovensa refinery in the Virgin Islands, sources close to the deal told Reuters on Wednesday, confirming a local news report. Refining at the plant has been halted since 2012 but its owners have been using it as a terminal. The operation would be part of a broader attempt by PDVSA to sell its foreign assets…

Can Shale Revive China's flagging oil fields?

"I believe and will prove that our country is not deficient in oil reserves. Those comments, recorded in an illustrated history of the Songliao Basin published by China National Petroleum Corporation (CNPC), are attributed to Wang Jinxi, an oil field worker who became a hero of Communist China during the 1960s and 1970s. Wang's Drill Team No. 1205 was…