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Hess Corp (HES)

HES on New York Consolidated

43.45USD
22 Nov 2017
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$0.38 (+0.88%)
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Latest Key Developments (Source: Significant Developments)

Hess issues statement on impact from incident at Shell Enchilada platform in Gulf of Mexico
Monday, 13 Nov 2017 07:31am EST 

Nov 13 (Reuters) - Hess Corp :Hess issues statement on impact from incident at shell enchilada platform in gulf of Mexico.Hess Corp - ‍Hess production is shut in at its Baldpate, Conger and Penn State fields​.Hess Corp - ‍all production coming into garden banks gas pipeline system also remains shut in until further notice​.Hess Corp - ‍production is also shut in at Shell-operated Llano field​.Hess Corp - ‍released statement about impact on its operations resulting from fire at Shell Enchilada platform in Gulf of Mexico​.Hess Corp - ‍Hess production at Baldpate, Conger, Llano and Penn State​ fields is approximately 30 thousand barrels of oil equivalent per day.  Full Article

Exxon aims to boost Permian output 45 pct/year through 2020
Friday, 27 Oct 2017 10:56am EDT 

Oct 27 (Reuters) - Exxon Mobil Corp :Says no plans to make any share repurchases in Q4.Says will grow Permian rig count to 30 - from 20 currently - by end of 2018.Says will drill first 3-mile lateral in Permian by end of year.Says Permian production will grow 45 percent per year through 2020.Says expects 2018 capital budget 'in the general ballpark' of about $25 billion.Says considering two more phases of Guyana project given recent success in oil project there.  Full Article

Hess reports Q3 adj loss per share of $1.07
Wednesday, 25 Oct 2017 07:30am EDT 

Oct 25 (Reuters) - Hess Corp :Hess reports estimated results for the third quarter of 2017.Q3 adjusted loss per share $1.07.Q3 loss per share $2.02.Hess - qtrly ‍net production from Bakken of 103,000 boepd was impacted by reduced field availability due to adverse weather, delays in completing new wells​.Hess Corp - qtrly ‍net production from Gulf of Mexico was 59,000 boepd, compared to 61,000 boepd in prior-year quarter​.Hess Corp qtrly ‍total production was 299,000 barrels of oil equivalent per day (boepd), excluding Libya​.Hess Corp - qtrly total revenues and non-operating income $‍1,666 million versus $1,196 million last year.Q3 earnings per share view $-1.29, revenue view $1.27 billion -- Thomson Reuters I/B/E/S.Hess - ‍Q4 production will be negatively impacted by hurricane-related downtime and expected lower entitlement at JDA as temporary adjustment reverses​.Hess - ‍Q3 results include after-tax gain attributable to stockholders of $280 million associated with sale of enhanced oil recovery assets in Permian Basin​.Hess Corp - ‍E&P Q3 results include noncash after-tax charge of $550 million to impair carrying value of our assets in Norway as result of expected sale​.  Full Article

Hess sells oil and gas interests in Norway for $2 bln
Tuesday, 24 Oct 2017 01:14am EDT 

Oct 24 (Reuters) - Hess Corp - :Hess sells interests in Norway; commences process to sell interests in Denmark.An agreement to sell its oil and gas interests in Norway for total proceeds of $2 billion.Implementation of a cost reduction program expected to deliver annual cost savings of more than $150 million starting in 2019.‍Expect to reduce hess corporation debt (excluding midstream) by $500 million in 2018​.‍actions are expected to reduce cash unit production costs by approximately 30 percent - to Less than $10 per boe - by 2020​.‍Hess will commence a process to sell its interests in Denmark, where it holds a 61.5 percent interest in south arne field​.  Full Article

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 shuts Gulf of Mexico assets after Enchilada fire

U.S. oil and gas producer Hess Corp said on Monday it had halted production at its Baldpate, Conger and Penn State fields due to a fire at Royal Dutch Shell's Enchilada platform in the Gulf of Mexico.