Tag Archives: Hess  CEO- John Hess

Guyana’s oil at world class low breakeven price of $35/barrel – Hess

… Projected to fall further

(Feb 25, 2020  News)  Hess Corporation has revealed that the current breakeven price for Guyana’s oil is US$35 per barrel Brent, among the lowest in the world. This was revealed by the Chief Executive Officer, John Hess. (photo at right)

For those unaware, the breakeven price is the price at which the oil must be sold to cover the cost to produce it. Every additional dollar on the barrel would be the profit.

Kaieteur News had revealed in December that Guyana’s crude will be priced against North Sea Brent crude, a competitive set of crudes extracted from fields in the North Sea.            Continue reading

Stabroek Block’s 5.5B barrels reserve an understatement-Hess CEO

Hess Corporation which holds a 30 percent stake in the Stabroek Block believes that its shareholders and industry stakeholders are yet to see the full potential of the world-class offshore concession.

Hess  CEO, John Hess

In fact, the firm’s Chief Executive Officer (CEO), John Hess, recently noted that the estimate of 5.5B barrels of oil equivalent reserves is on the low side.

Speaking at the Bernstein 35th Annual Strategic Decisions Conference that was held a few weeks ago in New York, Hess said that the 5.5B estimate really ties to 10 or 11 discoveries and not 12 or 13 which were made.          Continue reading

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