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Hess Corporation Cuts 2020 Capital Budget From$3B To $2.2B

Hess Corporation (NYSE:HES) today announced a revised $2.2 billion capital and exploratory budget for 2020, an $800 million reduction from the previous budget of $3.0 billion. The company also

Benzinga · 03/17/2020 12:22

Hess Corporation (NYSE:HES) today announced a revised $2.2 billion capital and exploratory budget for 2020, an $800 million reduction from the previous budget of $3.0 billion. The company also announced a new $1.0 billion three year term loan agreement. These actions further strengthen the company's cash position and financial liquidity in response to the sharp decline in oil prices.