NEW YORK--(BUSINESS WIRE)--July 20, 2008--Hess Corporation (NYSE: HES) announced today that the Briseis-1 exploration well on Australia's Northwest Shelf discovered natural gas in Jurassic and Triassic sandstones. The well encountered 151 feet (46 meters) of net gas pay, in line with pre-drill estimates. Briseis-1 is the second of four exploration wells being drilled on the WA-390-P Permit by Hess in 2008 and follows the successful Glencoe-1 well, which was announced as a discovery June 10, 2008.
"While we are still in the early stages of our exploration program in Australia, the results of these first two wells reinforce our view of the high impact potential of the WA-390-P Permit," said John O'Connor, Hess President of Exploration and Production.
Briseis-1 was drilled in 3,668 feet (1,118 meters) of water by the semi-submersible rig, Jack Bates. Following the completion of the Briseis-1 well, the Jack Bates rig will move 25 kilometers southwest to drill the Nimblefoot prospect. The Nimblefoot-1 well will test a separate structure in the same permit.
Hess holds a 100 percent interest in the 780,000 acre WA-390-P Permit.
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