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The company recently added another rig, signaling its commitment to expand further in the Bakken. This strategic growth in the Bakken will serve as a vital component of Hess's portfolio, supplementing their operations in Guyana, which is expected to become a major growth driver between 2020 and 2021.
Guyana Partnership with Exxon
Hess's collaboration with Exxon in Guyana further bolsters its strategic positioning in the oil industry. As one of the leading operators, Exxon is known for its efficient drilling practices and impressive returns on capital. This partnership offers Hess a tremendous advantage, as Exxon is heavily investing in the Guyana operations, targeting robust long-term returns.