Thursday, January 9, 2025

Hess Moves Guyana Resource Estimate Closer to 1.4 Billion BOE

Hess’ Liza-3 well offshore Guyana confirms a major oil discovery with breakeven below $40 per barrel Hess Corporation (ticker: HES) released its third-quarter earnings Wednesday, reporting a loss of $1.12 per share, but the company also updated the markets on its offshore Guyana project, saying that the company now believes recoverable resources are on the high-end of the company’s previous

Surprise Crude Draws Continue, Reversing Oil Losses

Oil bounces back after official data shows yet another crude inventory draw Oil prices came back from a nearly 2% decline Wednesday morning following news from the Energy Information Administration that U.S. crude oil inventories fell last week. The oil inventory draw is the seventh time in the last eight weeks that stores of crude went lower despite analysts’ expectations