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Hess Reports Estimated Results for the Second Quarter of 2015

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Hess Corporation reported its estimated results for the Second Quarter of 2015 today.

Second Quarter Highlights:

  • Adjusted net loss was $147 million or $0.52 per share compared to net income of $432 million or $1.38 per share in the prior-year quarter; lower hydrocarbon prices reduced second quarter 2015 adjusted net income by approximately $740 million, after-tax

  • Net loss was $567 million compared to net income of $931 million in the second quarter of 2014

  • Oil and gas production increased to 391,000 barrels of oil equivalent per day (boepd) compared to 319,000 boepd in the second quarter of 2014

  • Oil and gas production in the Bakken was 119,000 boepd, up from 80,000 boepd in the year-ago quarter

  • Announced sale of 50% interest in Bakken Midstream, resulting in $3 billion of cash proceeds

  • Capital and exploratory expenditures totaled $1.1 billion in the second quarter down from $1.3

    billion in the prior-year quarter

  • Liza-1 well completed on the Stabroek Block, offshore Guyana; announced as a significant discovery by the operator


Click here for the press release
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