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Hess Reveals $6.8B Capital, Exploratory Budget

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January 9, 2013

Hess Corp. (NYSE: HES) reports its 2013 capital and exploratory budget of US $6.8 billion, which is down 18% from 2012 expenditures of approximately US $8.3 billion.

Of the US $6.7 billion budgeted for E&P, US $2.7 billion (40%) is dedicated to unconventional shale resources and the remainder is focused on conventional resources, with US $1.85 billion (28%) for production, US $1.6 billion (24%) for developments and US $550 million (8%) for exploration. As in recent years, US $100 million is dedicated to marketing and refining and corporate.

According to ...

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