Hess Reports Estimated Results for Third Quarter of 2015
Hess Corporation Logo
SEARCH

Hess Reports Estimated Results for Third Quarter of 2015

  • Seminole_Latza_25888_20091021_hess_1274_20091021_medium

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

Third Quarter Highlights:

  • Adjusted net loss was $291 million or $1.03 per share compared to net income of $377 million or $1.24 per share in the prior-year quarter; lower realized selling prices reduced third quarter 2015 adjusted net income by approximately $745 million, after-tax
  • Net loss was $279 million compared to net income of $1,008 million in the third quarter of 2014
  • Oil and gas production increased to 380,000 barrels of oil equivalent per day (boepd) compared to 318,000 boepd in the third quarter of 2014
  • Oil and gas production in the Bakken was 113,000 boepd, up from 86,000 boepd in the year-ago quarter
  • Completed sale of 50% interest in Bakken Midstream, resulting in $3 billion of cash proceeds
  • E&P capital and exploratory expenditures totaled $849 million in the third quarter, down from $1,371 million in the prior-year quarter

Preliminary 2016 Guidance:

  • E&P capital and exploratory expenditures are expected to be $2.9 billion to $3.1 billion, down approximately 27 percent from 2015 forecasted E&P capital and exploratory expenditures of $4.1 billion
  • Oil and gas production is forecast to be in the range of 330,000 to 350,000 boepd compared to projected production of 370,000 to 375,000 boepd in 2015, and 360,000 boepd in the fourth quarter of 2015

Click here for the press release

Latest Hess News
  • Hess Achieves Leadership Status on CDP Global Climate List

    Hess Corporation has earned leadership status, the highest category, on the prestigious CDP Global Climate List. Hess was among the top-ranking energy producers on the list.
    Full story
  • In the Media: Hess Unravels Structural Complexities of Stampede‚Äôs Reservoir

    In the October issue of The American Oil and Gas Reporter, co-authors Gopal Mohapatra, Andry Nabasir and Steve Strauss co-examine three of the main Stampede reservoir features, which they have studied in detail.
    Full story
  • Hess, GNPC award 125 scholarships to deserving students in Ghana

    Hess and the Ghana National Petroleum Corporation (GNPC) have awarded 125 new scholarships to academically qualified but underprivileged local students who entered senior high school in late October.
    Full story