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 to Participate in J.P. Morgan U.S. All Stars Conference

    John Hess, Chief Executive Officer, will participate in a Fireside Chat at the J.P. Morgan U.S. All Stars Conference September 15 at noon Eastern Time. A live webcast and a replay of the discussion will be accessible via Hess Corporation’s website.
    Full story
  • Hess Announces Oil Discovery at Redtail, Offshore Guyana

    Hess today announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent.
    Full story
  • Hess to Participate in Barclays CEO Energy-Power Conference

    Hess announced that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on September 9, 2020 at 8:25 a.m. ET.
    Full story