UPDATE 1-Higher Bakken output helps Hess post smaller loss, raise production view

Hess Corp reported a smaller-than-expected quarterly loss and raised its full-year production forecast on Wednesday, owing to higher output at the U.S. oil and gas producer’s assets in the Bakken shale. Production from Bakken rose 38% to 163,000 barrels of oil equivalent per day (boe/d) in the quarter, helping net production, excluding Libya, rise about 4% to 290,000 boe/d. Oil from seven big shale formations, particularly the Permian basin of Texas and New Mexico and the Bakken in North Dakota, have helped the United States become the biggest crude oil producer in the world. …read more

Source:: Yahoo Finance


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