Hess Reports Estimated Results for the First Quarter of 2017
Hess Corporation Logo header
SEARCH

Hess Reports Estimated Results for the First Quarter of 2017

  • HessConnectDrillingPhoto
05.01.2017

NEW YORK, April 26, 2017 — Hess Corporation (NYSE: HES) today reported a net loss of $324 million, or $1.07 per common share, in the first quarter of 2017 compared with a net loss of $509 million, or $1.72 per common share, in the first quarter of 2016. The first quarter 2017 results were improved as higher realized crude oil selling prices and lower operating costs and exploration expenses more than offset the change in deferred income taxes and lower production volumes.

“Production momentum returns to our portfolio starting in the second half of 2017, underpinned by the Bakken, the North Malay Basin and Stampede developments, and offshore Guyana, one of the industry’s largest oil discoveries in the past 10 years,” Chief Executive Officer John Hess said. “With more than a decade of visible production growth, our company is well positioned to deliver compelling long-term value for our shareholders.”

For full earnings release click here

Related News
  • Hess Helping Build Capacity in Malaysia

    Hess has joined with five other energy companies in Malaysia to help develop local businesses so they can become successful vendors to the oil and gas industry. The initiative, known as VDPx, was launched by PETRONAS to expand and promote sustainable local vendor development, particularly among the Malay indigenous people.
    Full story
  • Hess Schedules Earnings Release Conference Call

    Hess announced today that it will hold a conference call on Wednesday, October 31, 2018 at 10 a.m. Eastern Time to discuss its third quarter 2018 earnings release.
    Full story
  • Stampede: Leveraging Hess' Deepwater Abilities

    Hess has capitalized on its proven track record in the Gulf of Mexico with the successful project execution of the Stampede field — one of the largest undeveloped fields in the Gulf.
    Full story