January 28, 2020 / 1:12 PM / 24 days ago

Oil producer Hess boosts 2020 spending on Guyana, Bakken investments

Jan 28 (Reuters) - U.S. oil and gas producer Hess Corp expects higher spending in 2020 as it looks to develop its assets in Guyana and Bakken shale play.

The company said its 2020 exploration & production capital and exploratory budget will be $3.0 billion, higher than the estimated $2.7 billion it allocated last year.

The company expects net production, excluding Libya, to average between 330,000 and 335,000 barrels of oil equivalent per day in 2020. (Reporting by Shanti S Nair in Bengaluru; Editing by Anil D’Silva)

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