Image courtesy of Hess.

Hess Corporation shipped its first cargo of Bakken crude on Friday to a buyer in Europe.

Hess told Retuers that it exported 175,000 barrels of Bakken crude out of the U.S. Gulf Coast to Europe.

The cargo is the first reported shipment of Bakken crude since the crude export ban was lifted in December, Reuters said.

A Hess spokesperson told the news wire that the shipment was loaded at St. James, Louisiana earlier this month and is being shipped to a European refinery.

The name of the buyer has not been disclosed.

New York-based Hess entered the Williston Basin in the 1950s and currently holds about 615,000 net acres in the Bakken play.

The U.S. Congress voted in December to repeal a 40 year old ban on exporting domestically produced crude as part of a $1.8 trillion government spending and tax relief bill.

The ban was first enacted in response to the Arab Oil Embargo in 1975.

The bill allows U.S. producers to export light, sweet crude to international markets where more refineries are equipped to process light crude.

ConocoPhillips was the first U.S. company to start exporting crude in January after the ban was lifted.

The Houston-based company sent its first shipment of U.S. crude from NuStar Energy’s North Beach Terminal in the Port of Corpus Christi, Texas.

The shipment included crude and condensate produced from the Eagle Ford shale play in Texas.

The crude will be sold to international trading company Vitol Group.


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