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Hess raises 2012 capital spending forecast 25 percent
July 25, 2012 / 2:49 PM / 5 years ago

Hess raises 2012 capital spending forecast 25 percent

July 25 (Reuters) - Hess Corp said it will raise its planned capital spending for this year 25 percent, with much of the increase due to higher well costs in the Bakken Shale in North Dakota.

Hess will spend $8.5 billion this year, up from a prior forecast of $6.8 billion, Chief Executive Officer John Hess said on a conference call with investors on Wednesday.

Reporting By Anna Driver; Editing by Gerald E. McCormick

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