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Hess Corp (HES)

HES on New York Consolidated

57.92USD
2 Dec 2016
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$1.81 (+3.23%)
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Latest Key Developments (Source: Significant Developments)

Hess Corp calls outstanding notes due in 2017 for redemption
Wednesday, 28 Sep 2016 04:28pm EDT 

Hess Corp : Hess corporation calls outstanding notes due in 2017 for redemption . Notes will be redeemed on october 28, 2016 . Will redeem all of its outstanding 1.300% notes due june 15, 2017 .Intends to use proceeds from recent note offering to fund redemption of notes.  Full Article

Hess Corp announces pricing of offer to purchase notes due in 2019
Friday, 23 Sep 2016 02:46pm EDT 

Hess Corp : Hess corporation announces pricing of offer to purchase notes due in 2019 . Upon consummation of offer, will pay total consideration of $1,154.64 for each $1,000 principal amount of notes tendered and accepted for payment .Announced consideration to be paid in previously announced cash tender offer for any and all of its outstanding 8.125% notes due 2019.  Full Article

Exxon, Chevron, Hess said to be in joint bid for Mexican oil- Bloomberg, citing sources
Thursday, 18 Aug 2016 08:15pm EDT 

: Exxon, Chevron, Hess said to be in joint bid for Mexican oil- Bloomberg, citing sources .Exxon, Chevron, Hess have reached joint operating agreement, allowing them to bid to produce oil in 10 areas up for auction- Bloomberg, citing sources.  Full Article

Hess CEO says believes the global oil market is rebalancing
Wednesday, 27 Jul 2016 11:25am EDT 

Hess Corp : Chief Executive John Hess says plans to reduce drilling rigs in Bakken from three to two by august . Says Schlumberger NV was vendor who provided faulty valve on Tubular Bells project . Says pursuing legal action against Schlumberger NV for remediation costs, attorney fees and lost profit due to idle time at Tubular Bells project . CEO says believes the global oil market is rebalancing . CEO says remains committeed to ipo of Bakken JV, but will wait for financial markets to improve .CEO says valve failure at Tubular Bells project in U.S. Gulf Of Mexico will harm 2017 production outlook.  Full Article

Hess Corp posts Q2 adjusted loss per share $1.10
Wednesday, 27 Jul 2016 07:30am EDT 

Hess Corp : Hess reports estimated results for the second quarter of 2016 . Continued to cut costs, now sees FY 2016 E&P capital and exploratory expenditure to be about 48 percent below 2015 . Q2 adjusted loss per share $1.10 . E&P capital and exploratory expenditures are projected to be $2.1 billion for 2016 . 2016 net production is forecast to be in range of 315,000 to 325,000 boepd, excluding Libya . Net production from Bakken was 106,000 boepd compared to 119,000 boepd in prior-year quarter due to a reduced drilling program . Qtrly net production from Gulf of Mexico was 54,000 boepd compared to 84,000 boepd in prior-year quarter . Qtrly total revenue and non-operating income $1.27 billion versus $1.94 billion . Net production in Q2 of 2016 was 313,000 boepd compared to pro forma net production, which excludes assets sold, of 386,000 boepd in Q2 of 2015 .Hess Corp says for full year 2016, net production is projected to be 315,000 boepd to 325,000 boepd.  Full Article

North Dakota oil production drops in April; largest in history
Wednesday, 15 Jun 2016 11:47am EDT 

: North Dakota oil regulator says April production drop was largest monthly slip in state history . North Dakota oil regulator blames low prices, weather and road restrictions for April output decline . North Dakota oil regulator says zero drilling rigs operating today in Williams County . North Dakota oil regulator says state output could fall below 1 million barrels per day before end of year .North Dakota oil regulator says producers 'really making progress' on capturing natural gas, reducing flaring.  Full Article

Hess sets regular quarterly dividend of $0.25 per share
Wednesday, 1 Jun 2016 05:18pm EDT 

Hess Corp : Sets regular quarterly dividend of $0.25per share .Hess announces regular quarterly dividend on common stock.  Full Article

Hess Corp - Lawsuits over New York City heating oil quality are revived - Reuters News
Tuesday, 15 Mar 2016 02:12pm EDT 

Hess Corp:A New York state appeals court on Tuesday revived two lawsuits accusing Hess Corp and Castle Oil Corp of cheating building owners by selling adulterated heating oil - RTRS.The Appellate Division in Manhattan ruled unanimously that a lower court judge erred in dismissing claims that the defendants from 2009 to 2013 blended "waste oil" into the higher-grade heating oil that residential and commercial building owners in and around New York City had contracted to buy.The plaintiffs, who sought class action status on behalf of thousands of building owners in New York City, Westchester County and Long Island, said the blending caused their heating systems to be less efficient, requiring some to buy more oil.Justice David Saxe rejected defense arguments that public policy might encourage the use of adulterated oil as fuel, and that the owners waited too long to pursue some of their claims.He said the plaintiffs can pursue damages claims for breach of contract and breach of warranty "since we must infer from the complaint that plaintiffs received nonconforming oil deliveries of lesser value than those they contracted and paid for.Tuesday's 4-0 decision reversed the September 2014 dismissals of both lawsuits by state Supreme Court Justice Shirley Werner Kornreich in Manhattan. Sprague Resources LP SRLP.N bought Castle assets in December 2014.A lawyer for Castle declined to comment. Hess and its law firm did not immediately respond to requests for comment.  Full Article

Hess Corp announces changes to board of directors
Wednesday, 2 Mar 2016 04:15pm EST 

Hess Corp:Announces changes to board of directors.Chairman Mark Williams retires.Says director James Quigley named chairman.Director James Quigley named chairman.James Quigley, former chief executive officer of deloitte and current director of Hess, been named by board to succeed Williams.  Full Article

Hess Announces Regular Quarterly Dividend On Common Stock
Wednesday, 2 Dec 2015 04:45pm EST 

Hess Corporation:declared a regular quarterly dividend of 25 cents per share payable on the Common Stock of the Corporation on December 31, 2015 to holders of record at the close of business on December 17, 2015.  Full Article

BRIEF-Hess to add rigs if oil prices improve

* CEO John Hess says 2016 E&P capex should be $2 billion, about $100 million below prior estimates