Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/hess-corporation-reduces-2016-ep-capital-budget.shtmlHess Corporation reduces 2016 E&P capital budget
Hess Corporation has declared a 2016 E&P capital and exploratory budget of $2.4 billion, a 40 percent reduction from its 2015 actual spend of $4.0 billion and approximately 20 percent
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Hess Corporation has declared a 2016 E&P capital and exploratory budget of $2.4 billion, a 40 percent reduction from its 2015 actual spend of $4.0 billion and approximately 20 percent below preliminary 2016 guidance of $2.9-$3.1 billion provided in October.
The $2.4 billion budget is allocated as follows: $470 million (20 percent) for unconventional shale resources, $610 million (25 percent) for production, $820 million (34 percent) for developments and $500 million (21 percent) for exploration and appraisal activities.
