Hess Shares Strategy Behind Diverse Asset Portfolio

Hess CEO John Hess, who said the U.S.-based oil producer is “not interested in M&A right now,” shares the key to sustainable production growth from the Bakken shale play to the Guyana-Suriname hotspot.

Pietro Donatello Pitts, Hart Energy
Hess Shares Strategy Behind Diverse Asset Portfolio

Still, economic and inflationary headwinds worldwide amid others in Guyana, Hess’ primary growth engine, are brewing and raise some concerns. (Source: Hart Energy)

Hess Corp.’s diverse asset portfolio supports growth in resources and production with potential to generate higher intrinsic value and cash flow for investors, CEO John Hess recently told investors.

Still, economic and inflationary headwinds worldwide amid others in Guyana, the company’s primary growth engine, are brewing and raise some concerns.

“It’s a very focused, balanced portfolio, short-cycle, long-cycle, onshore, offshore, very oil dominated. The important thing is [with] that portfolio we’re able to grow our production 10% per year,” Hess said on June 2 during a web broadcast from the Bernstein Strategic Decisions Conference.

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