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Montevideo, December 11th 2023 - 18:44 UTC

Tag: Hess Corporation

  • Tuesday, October 24th 2023 - 08:36 UTC

    Big news in oil industry: Chevron takes over Hess Corporation in a US$ 53 billion transaction

    Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share.

    Chevron Corporation (NYSE: CVX) announced on Monday that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at US$ 53 billion, or US$ 171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt, of the transaction is US$ 60 billion.

  • Wednesday, May 13th 2020 - 07:46 UTC

    Guyana's second offshore facility FPSO on schedule for first oil in 2022

    Hess, in ExxonMobil operated Stabroek block the Liza Destiny is operating, said that Liza Destiny would reach full capacity of 120,000 gross bopd in June

    Liza Unity, an under-construction FPSO that will be Guyana's second offshore facility in production, remains on schedule for first oil in 2022, Hess Corp. announced. Guyana became an oil-producing nation in December 2019, when Exxon brought online the Liza Destiny FPSO.

  • Wednesday, January 22nd 2020 - 07:13 UTC

    Guyana ships its first ever cargo of one million barrels of oil

    All commercial oil resources in Guyana have been found at the Stabroek offshore block, where Exxon and its partners have disclosed 15 large discoveries so far.

    A vessel carrying Guyana’s first-ever shipment of crude set sail on Monday bound for the U.S. Gulf Coast, oil major Exxon Mobil Corp said, marking the tiny South American nation’s long-awaited debut as an oil exporter.

  • Friday, February 8th 2019 - 08:49 UTC

    Two more oil strikes off the coast of Guyana at the prolific Stabroek Block

    Tilapia-1 encountered approximately 93 m of high quality oil bearing sandstone reservoir and was drilled to a depth of 5,726 m in 1,783 m of water

    Hess Corporation has announced positive results from the Tilapia-1 and Haimara-1 wells offshore Guyana, bringing the total number of discoveries on the Stabroek Block to 12.“These two discoveries demonstrate the continuing exploration potential on the prolific Stabroek Block and add to the previously announced gross discovered recoverable resource estimate of more than 5 Bboe,” said CEO John Hess.