New York-based Hess blamed sub-surface safety valve failures at three wells for lowering production from its Tubular Bells field in the US Gulf of Mexico by 15,000 barrels of oil equivalent per day over the course of the year.
The valves were supplied by Schlumberger, Hess executives said on a call with investors, and the company plans to take action against the oilfield services giant to recover costs associated with not only the work to replace the valves but also the lost profits from the production and the cost of the legal proceedings.
Hess
