Hess Confirms Pony Deepwater Discovery

Hess Corporation

Hess Corporation reported the drilling results for its Pony Prospect, on Green Canyon Block 468, in the Gulf of Mexico. The well was drilled to a total depth of 32,448 feet and encountered 475 feet of oil saturated sandstones in Miocene age reservoirs, based on wireline log evaluation.

Hess will next drill an appraisal sidetrack well approximately 4,000 feet to the northeast. Whole rock cores and wireline logs will be obtained from the sidetrack well. This information will be used to refine estimates of net pay.

Results to date have been consistent with pre-drill expectations. Total hydrocarbon resource on the Hess acreage is estimated to be in the range of 100 - 600 million barrels of oil equivalent. Hess Corporation has a 100% working interest in this well.