Hess to boost capital budget after two years of stagnation

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U.S. independent Hess Corporation will allocate 75% of its 2019 E&P capital and exploratory budget of $2.9 billion to high return assets in the Bakken and Guyana. About $570 million will be spent on offshore developments.

Hess announced its 2019 E&P capital and exploratory budget of $2.9 billion on Monday. This is an increase compared to this year’s E&P capital and exploratory budget of $2.1 billion, which was the same as the one in 2017.

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