Hess Charters a Trio of Supertankers to Store Oil Production
- Producer enlists 3 very-large crude carriers for Bakken oil
- Hess sees U.S. commercial storage filling in second quarter
Photographer: Patrick T. Fallon/Bloomberg
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Hess Corp. is chartering a trio of supertankers to hold more than half of its North Dakota crude production as rapidly filling storage forces some drillers to curtail output.
The U.S. oil explorer said it has enlisted three very-large crude carriers that will each store about 2 million barrels of oil produced in May, June and July from the Bakken shale field in North Dakota. Based on the company’s first-quarter production, Hess will be putting about 56% of its Bakken output on VLCCs over the next three months.