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

Hess Reports Estimated Results for the First Quarter of 2017

  • HessConnectDrillingPhoto

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 to Participate in Credit Suisse Energy Summit

    Hess announced today that John Hess, Chief Executive Officer, will speak at the Credit Suisse 26th Annual Energy Summit on March 1, 2021 at 8:10 a.m. Eastern Time. A live audio webcast and a replay of the presentation will be accessible via Hess Corporation’s website.
    Full story
  • Hess Commitment Recognized by Bloomberg and the Human Rights Campaign

    Hess has been recognized on both the @Bloomberg 2021 Gender-Equality Index and the @Human Rights Campaign’s 2021 Corporate Equality Index for our commitment to diversity, societal changes that address racial inequities, and being inclusive. The Bloomberg GEI tracks the financial performance of public companies committed to supporting gender equality through policy development, representation, and transparency. The HRC assesses LBGTQ practices at companies for the Corporate Equality Index. The CEI helps guide the wide-scale adoption of LGBTQ-specific practices and language within existing business structures.
    Full story
  • Hess Donates $2 Million to Houston’s Winter Storm Relief Efforts

    Hess today announced that it is donating $1 million to the Houston Harris County 2021 Winter Storm Relief Fund and $1 million to the Houston Food Bank following the severe winter storm that has significantly impacted communities already suffering from the economic effects of the COVID-19 pandemic. The company will also match donations made by employees through its matching gift program.
    Full story