CERAWeek2018: Oil from shale will be resilient with oil at $50: Hess CEO

FILE PHOTO: John Hess, CEO of the Hess Corporation, speaks during the IHS CERAWeek 2015 energy conference in Houston, Texas April 21, 2015. REUTERS/Daniel Kramer

Reuters) – Oil production from shale formations will account for an increasingly large percentage of global oil production, Hess Corp. CEO John Hess said in Houston Monday.

Shale “will be resilient in a $50 world and we are in a $60 world,” Hess said, speaking at CERAWeek by IHS Markit. Shale’s output will grow as offshore production in the Gulf of Mexico plateaus, he said.


Please enter your comment!
Please enter your name here