October 31, 2018 / 3:06 PM / 16 days ago

Hess points to higher E&P budget for 2019

(Reuters) - U.S. oil and gas producer Hess Corp (HES.N) said on Wednesday its exploration and production budget in 2019 would be closer to $3 billion.

The company said it expects capital expenditure to average about $3 billion through 2025, up from its current-year forecast of $2.1 billion.

Chief Financial Officer John Rielly also said, on a call with analysts, the company plans to bring 50 percent more wells online in its Bakken oilfield in 2019, compared to 2018.

Reporting by John Benny in Bengaluru; Editing by Shailesh Kuber

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