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Hess Corp (HES)

HES on New York Consolidated

44.50USD
22 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Hess CEO says downtime associated with Hurricane Harvey resulted in lost production of several thousand boed in Q3 - Barclays Energy conf call
Thursday, 7 Sep 2017 11:06am EDT 

Sept 7 (Reuters) - Hess Corp ::Hess Corp CEO says downtime associated with Hurricane Harvey resulted in lost production of several thousand barrels of oil equivalent per day in q3 - Barclays Energy conf call.Hess Corp CEO says "there was minimal damage to our offshore facilities and most of our assets have now resumed production activities" - Barclays Energy conf call.  Full Article

Omega Advisors takes share stake in American Airlines, cuts share stake in Hess Corp
Monday, 14 Aug 2017 10:43am EDT 

Aug 14 (Reuters) - Omega Advisors Inc :Omega Advisors Inc takes share stake in American Airlines Group Inc <<>> of 178,400 shares - SEC filing.Omega Advisors Inc takes share stake of 93,400 shares in Autodesk.Omega Advisors Inc raises share stake in Gigamon Inc by 54.7 percent to 557,048 shares.Omega Advisors Inc cuts share stake in Hess Corp by 15.5 percent to 983,800 shares.Omega Advisors Inc - Change in holdings are as of June 30, 2017 and compared with the previous quarter ended as of March 31, 2017.  Full Article

Hess sees Bakken production rising in coming years
Wednesday, 26 Jul 2017 11:42am EDT 

July 26 (Reuters) - Hess Corp :Chief Executive John Hess says expects company's Bakken production to grow 10 percent per year 'over the next several years'.CEO says expects 2017 average daily Bakken production of 105,000 barrels, at high end of guidance.CEO: 'We believe our company has the best long-term growth outlook in our history'.Chief Operating Officer Greg Hill says Q3 will be 'major inflection point for us in terms of production growth'.Had $130 million in Q2 one-time payments to line fill Dakota Access Pipeline, cancel offshore rig, prepay Bakken frack sand and pay oil hedge premiums.Says generating 'significant cash flow' from Bakken at current oil prices CLc1.Says oil prices CLc1 would have to go 'significantly lower' to not have free cash flow from Bakken.Says Bakken spending will rise in 2018 due to higher frack stage count, proppant usage.  Full Article

Hess reports Q2 loss per share of $1.46
Wednesday, 26 Jul 2017 07:30am EDT 

July 26 (Reuters) - Hess Corp ::Hess reports estimated results for the second quarter of 2017.Q2 loss per share $1.46.2017 net production guidance, excluding Libya, increased to 305,000 to 310,000 boepd, upper end of previous guidance.Qtrly net production from Bakken averaged 108,000 boepd, compared to 106,000 boepd in prior-year quarter.2017 E&P capital and exploratory expenditures are projected to be $2.15 billion, down from original guidance of $2.25 billion.Qtrly net production from gulf of Mexico was 51,000 boepd, compared to 54,000 boepd in prior-year quarter.Qtrly ‍oil and gas production exceeded guidance; total production was 294,000 barrels of oil equivalent per day (boepd)​.Q2 earnings per share view $-1.34 -- Thomson Reuters I/B/E/S.Qtrly total revenues and non-operating income $1,228 million versus $1,269 million in Q2 2016.Of remaining net development costs in Guyana (offshore), approximately $250 million is expected in 2018.Of remaining net development costs in Guyana (offshore), approximately $330 million is expected in 2019.  Full Article

ExxonMobil acquires interest in acreage Offshore Suriname
Thursday, 13 Jul 2017 01:00pm EDT 

July 13 (Reuters) - Exxon Mobil Corp ::ExxonMobil acquires interest in acreage offshore suriname.‍Preparations underway to begin exploration activities​.Agreement expands ExxonMobil operated acreage in Guyana-Suriname Basin.Following contract signing, co-venturers are preparing to begin exploration activities, including acquisition and analysis of seismic data.ExxonMobil says unit, Production Suriname B.V., signed a production sharing contract for block 59 with Staatsolie Maatschappij Suriname N.V..ExxonMobil is operator in Acreage Offshore Suriname.‍Exxonmobil and consortium partners Hess and Statoil each hold a third of interest in block​.  Full Article

Occidental Petroleum agrees to number of purchase, sale transactions in Permian Basin
Monday, 19 Jun 2017 09:35am EDT 

June 19 (Reuters) - Occidental Petroleum Corp ::Has agreed to a number of purchase and sale transactions in Permian Basin.On combined basis, transactions require no net cash outlay and add about 3,500 barrels of oil equivalent per day to company's production.Net Permian resources transactions will generate proceeds of approximately $0.6 billion.Will reduce its Permian resources position by 13,000 net acres, divesting non-strategic acreage in Andrews, Martin and Pecos counties.Also agreed to increase its ownership interests and assume operatorship of a CO(2) enhanced oil recovery (EOR) property.  Full Article

Hess announces sale of enhanced oil recovery assets in Permian Basin
Monday, 19 Jun 2017 09:25am EDT 

June 19 (Reuters) - Hess Corp ::Hess announces sale of its enhanced oil recovery assets in the Permian Basin.Hess announces sale of its enhanced oil recovery assets in the Permian Basin.Hess Corp - deal for a total consideration of $600 million.Hess Corp - proceeds from sale will be used to fund company's strong growth opportunities.Hess Corp - transaction consists of Seminole-San Andres unit and Seminole gas processing plant in Texas, West Bravo dome C02 field in New Mexico.Hess Corp - transaction also consists of a 9.9% non-operated interest in bravo dome unit in new mexico.Hess Corp - enters agreement to sell its interests in enhanced oil recovery (EOR) assets in Permian Basin to occidental petroleum corporation.  Full Article

Omega Advisors ups share stake in Alphabet, Facebook, Zynga, Time Inc
Monday, 15 May 2017 11:32am EDT 

May 15 (Reuters) - Omega Advisors Inc::Ups share stake in Facebook Inc to 262,900 class A shares from 68,800 class A shares - SEC filing.Takes share stake of 125,000 shares in Humana Inc.Ups share stake in Alphabet Inc by 13.9 percent to 158,835 shares of class A capital stock.Ups share stake in Zynga Inc to 7.1 million class A shares from 1 million class A shares.Ups share stake in Hess Corp by 24.3 percent to 1.2 million shares.Ups share stake in Time Inc by 12.1 percent to 4.4 million shares.Cuts share stake in Allergan Plc by 18.9 percent to 295,188 shares.Cuts share stake in Walgreens Boots Alliance Inc by 11.6 percent to 826,103 shares.Cuts share stake in United Continental Holdings Inc by 5.8 percent to 1.7 million shares.Change in holdings are as of March 31, 2017 and compared with the previous quarter ended as of Dec. 31, 2016.  Full Article

Hess hedges nearly third of 2017 output with $50/barrel price floor
Wednesday, 26 Apr 2017 11:11am EDT 

April 26 (Reuters) - Hess Corp :Says expects Hess Midstream Partners LP <<>> to file form 10-Q with U.S. Securities and Exchange Commission in May.Chief Executive John Hess says has hedged production of 80,000 bpd for rest of year.CEO says hedge program has floor of $50/barrel oil CLc1.CEO says expects North Malay Basin project to come online in Q4.CEO says expects to make final investment decision on Liza project by mid-year.CEO says Stampede project in U.S. Gulf Of Mexico to come online first half of 2018.CEO says expects to add two drilling rigs in North Dakota during fourth quarter.Says expects to produce 300,000 to 310,000 boepd for 2017.Says expects to drill 80 North Dakota wells this year and bring 75 online.Says expects capital spending to increase rest of year from Q1 as ramps up in Bakken, elsewhere.CEO says North Dakota service costs are increasing.Says expects oil prices CLc1 should start to rise to attract new oil industry investment.Says no plans to adds drilling rigs to Utica shale this year.CEO says border dispute between Venezuela and Guyana won't affect final investment decision on Liza project.  Full Article

Wood Group secures new contract with Hess in Malaysia
Tuesday, 31 Jan 2017 02:13am EST 

John Wood Group Plc : Wood Group secures new contract with Hess in Malaysia .Delivered by Wood Group's Kuala Lumpur office, contract will support up to 130 new full-time positions in Malaysia.  Full Article

BRIEF-Hess CEO says downtime associated with Hurricane Harvey resulted in lost production of several thousand boed in Q3 - Barclays Energy conf call

* Hess Corp CEO says downtime associated with Hurricane Harvey resulted in lost production of several thousand barrels of oil equivalent per day in q3 - Barclays Energy conf call