The Rising Influence of Rising Affluence

[DewDiligence]

HES reduces planned 2015 cap-ex by 16% (to $4.7B from $5.6B in 2014), which is a more modest cut than many investors probably expected:

http://finance.yahoo.com/news/hess-corporation-announces-2015-capital-221800852.html

In the all-important Bakken shale, HES is reducing 2015 cap-ex by 18% (to $1.8B from $2.2B in 2014) and plans to complete 12% fewer wells (210 in 2015 vs 238 in 2014). Impressively, HES plans to achieve the 12% reduction in completed Bakken wells while cutting the average number of Bakken rigs in service by 44% (from 17 to 9.5).

p.s. HES reports 4Q14 results on Wednesday before the open.