Hess Reports Estimated Results for The Third Quarter of 2017
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Hess Reports Estimated Results for The Third Quarter of 2017

  • NMB, offshore
10.25.2017

Hess reported a net loss of $624 million, or $2.02 per common share, in the third quarter of 2017 compared with a net loss of $339 million, or $1.12 per common share, in the third quarter of 2016. On an adjusted basis, the Corporation reported a net loss of $324 million, or $1.07 per common share, in the third quarter of 2 2017 compared with an adjusted net loss of $340 million, or $1.12 per common share, in the prior year quarter. The improved adjusted results reflect higher realized crude oil selling prices and lower operating costs, depreciation, depletion and amortization, and exploration expenses. Third quarter 2017 results were adversely impacted by lower tax benefits compared to the prior-year quarter following a required change in deferred tax accounting.

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