LONDON - U.S. oil major Hess Corp said it could pursue external funding options, such as debt or share issues, if its own cash flows are, as some analysts predict, insufficient to meet the cost of developing its projects.
Chief Executive John Hess said internal cash flows would meet most of Hess's needs but other sources of cash could also be tapped, and if oil prices were low for a long time, he could slow plans to develop new fields.
Whatever shortfalls there are (will) have to be met by external funding, having said that, the majority of our company's needs are met by internal funding, he told reporters at sidelines of the Oil and Money conference.
If prices are low for an extended period of time that obviously would make you reevaluate some of your commitments going forward, he added.
Asked if this meant Hess was considering a share sale, hess replied. I answered the question. (Reporting by Tom Bergin; Editing by David Holmes)