Hess Corp. Standing Strong
With the tumultuous climate that has developed across the globe surrounding oil demand, many companies has suffered from the lack of oil coming out of the middle east and Libya. Despite this difficult, and somewhat demanding oil industry, some companies have come out on top, and held strong through this period. Hess Corp. is one of those companies, and Isac Simon explains why.
"The ace up the sleeve
I’m particularly impressed by the geographical diversity of the company’s reserves. With major chunks of proven reserves spread across the U.S., Norway, Russia, Libya, the United Kingdom, Equatorial Guinea, Malaysia, Indonesia, and Thailand, Hess looks truly global and might thus be fairly insulated from national and regional disruption thanks to heavy ongoing pressure in the Middle East.
By not concentrating on any particular region, Hess has been able to hedge itself against geopolitical disturbances remarkably well. In the first quarter of this year, Libyan production averaged 14,000 barrels of oil equivalent per day (Boe/d) — a fall from 23,000 Boe/d in 2010. This drop in production is a relatively insignificant 2% when compared to total production, which averaged 418,000 Boe/d last year."
Read the entire article here: http://turnkeyoil.com/2011/06/16/hess-corp-standing-strong/