Hess updates Pony #2 well

Hess Corporation provides the results of its Pony #2 appraisal well located on Green Canyon Block 468 in the deepwater Gulf of Mexico.

The appraisal well was drilled at a location 1.5 miles northwest of the discovery well and reached a measured depth of 32,900 feet. The Pony #2 well encountered the objective target sands in a down-dip position in the water leg. Following wire-line evaluation and pressure data collection of the Pony #2 well, the objective is to sidetrack the well to the oil leg up-dip.

Based on the results to date of the Pony #2 well, the estimated range of gross recoverable resource on the Hess owned portion of the structure has been narrowed to 100 to 500 million barrels from the previous estimated range of 100 to 600 million barrels. Hess owns a 100 percent working interest in Pony, and is evaluating a range of development options for the discovery.