Locator: 45798CVX.
Hess is tracked here. Hasn't been updated in over a year.
$53 billion.
Market cap: $50 billion at close Friday.
Pre-market trading: Hess up one dollar.
Dividend to increase 8% in a couple of months.
Merry Christmas.
Peter Zeihan. Apparently the Bakken is not dead.
Offer: 10% premium.
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2Q23 Earnings Presentation
Guyana: Stabroek Block
- operated by XOM
- industry's largest new oil province in the last decae
- 6.6 million acres = 1,150 GoM blocks
- 32 major discoveries to date
- #1 and #2: Liza Phase 1 and Phase 2: production averaged 380,000 bopd in 2Q23
- breakeven price: $25 - $35 / bbl Brent
- of the 32 major discoveries:
- #3: Payara: first oil in early 4Q23; breakeven: $32
- #13 and #16: startup in 2025 and 2026, respectively; breakeven, $29 / $32 respectfully;
Bakken (see slides):
- 465,000 acres;
- EUR: 2.2 billion bbls oil equivalent
- EUR, yet to produce: 1.7 billion boe
- net production: 180,000 boepd
- average IP180: 120,000 bo
- capex: $1.1 billion
- average D&C cost: $6.9 million
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