Hess Reports Estimated Results for the Second Quarter of 2015
Hess Corporation Logo
SEARCH

Hess Reports Estimated Results for the Second Quarter of 2015

  • NorthDakota_MMorrison_0577_140521_Pumpjacks #0302_medium
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
Latest Hess News
  • Hess Sanctions Liza Phase 1 Development Offshore Guyana

    Full story
  • In the Media: WSJ cites Hess as Part of Bakken Drilling Resurgence

    Full story
  • Hess in the Media: Big Data and Lean Processes

    Data analysis from Hess wells is just one part of the company’s Lean process that continuously removes wasted effort and adds value across Hess Bakken assets.
    Full story