Hess Presents in Bank of America Merrill Lynch 2015 Global Energy Conference
Hess Reports Estimated Results for the First Quarter of 2020
Hess Corporation (NYSE: HES) today reported a net loss of $2,433 million, or $8.00 per common share, in the first quarter of 2020, including impairment and other after-tax charges of $2,251 million resulting from the low price environment, compared with net income of $32 million, or $0.09 per common share, in the first quarter of 2019. On an adjusted basis, the Corporation reported a net loss of $182 million, or $0.60 per common share, in the first quarter of 2020.
Hess Schedules Earnings Release Conference Call
Hess announced that it will hold a conference call on Thursday, May 7, 2020 at 10 a.m. Eastern Time to discuss its first quarter 2020 earnings release.
Hess Announces Significant Reduction to 2020 Capital and Exploratory Budget
Hess Corporation today announced a revised $2.2 billion capital and exploratory budget for 2020, an $800 million reduction from the previous budget of $3.0 billion. The company also announced a new $1.0 billion three year term loan agreement. These actions further strengthen the company’s cash position and financial liquidity in response to the sharp decline in oil prices.