Hess Reports Estimated Results for the Third Quarter of 2018
Hess Corporation Logo header
SEARCH

Hess Reports Estimated Results for the Third Quarter of 2018

  • HESS_X_Rig_Aerials__0073_cropped
10.31.2018
Hess Corporation today reported net income of $52 million, or $0.14 per common share, in the third quarter of 2018, compared to a net loss of $624 million, or $2.02 per common share, in the third quarter of 2017. On an adjusted basis, the Corporation reported net income of $123 million, or $0.38 per common share, in the third quarter of 2018, compared with an adjusted net loss of $324 million, or $1.07 per common share, in the prior-year quarter.

“We achieved another strong quarter, delivering higher production and lower costs than our guidance while keeping capital and exploratory expenditures flat with guidance for the year,” Chief Executive Officer John Hess said. “Our reshaped portfolio is well positioned for a decade plus of capital efficient production growth with increasing cash generation and returns to shareholders.”

Full story
Related News
  • Hess to Participate in Bank of America Merrill Lynch 2019 Global Energy Conference

    CEO John Hess will deliver a keynote presentation: Perspectives on Global Oil Outlook at the Bank of America Merrill Lynch 2019 Global Energy Conference in Miami Beach, FL Nov. 13, 2019.
    Full story
  • Hess Reports Estimated Results for the Third Quarter of 2019

    Hess today reported a net loss of $205 million, or $0.68 per common share, in the third quarter of 2019, compared with a net loss of $42 million, or $0.18 per common share, in the third quarter of 2018. “We achieved strong operational performance once again this quarter, delivering higher production and lower capital and exploratory expenditures than previous guidance,” Chief Executive Officer John Hess said.
    Full story
  • Hess Announces Gulf of Mexico Oil Discovery and Plans for Tie Back to Tubular Bells Production Facilities

    Hess Corporation today announced an oil discovery at the Esox-1 exploration well located in Mississippi Canyon Block No. 726 in the deepwater Gulf of Mexico. “We expect the well to be producing in the first quarter of 2020. As a low cost tieback to existing infrastructure, Esox should generate strong financial returns,” CEO John Hess said.
    Full story