Welcome to our dedicated page for Hess Corporation news (Ticker: HES), a resource for investors and traders seeking the latest updates and insights on Hess Corporation stock.
Hess Corporation (HES) is an American global independent energy company focused on the exploration and production of crude oil and natural gas. Hess operates key assets in some of the world's most prolific hydrocarbon basins, including the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia.
In addition to exploration and production, Hess Corporation is involved in the gathering, compressing, and processing of natural gas. The company reported net proved reserves of 1.4 billion barrels of oil equivalent at the end of 2023, showcasing its strong resource base. For the same period, Hess achieved an average net production of 391 thousand barrels of oil equivalent per day, with a production mix of 74% oil and natural gas liquids and 26% natural gas.
Hess Corporation has made significant advancements in its projects, particularly in Guyana, where the company has announced multiple major oil discoveries. These discoveries have positioned Guyana as a key growth driver for Hess. Moreover, the company's operations in the Bakken Shale continue to deliver strong performance due to their efficient extraction techniques and infrastructure investments.
Financially, Hess Corporation maintains a robust balance sheet and has strategically formed partnerships to enhance its operational capabilities. The company remains committed to responsible energy production and sustainability practices, aiming to reduce its environmental footprint while meeting global energy needs.
With a focus on technological innovation and operational excellence, Hess Corporation is well-positioned to continue its growth trajectory and contribute significantly to the global energy market.
- Key Assets: Bakken Shale, Guyana, Gulf of Mexico, Southeast Asia
- 2023 Net Proved Reserves: 1.4 billion barrels of oil equivalent
- 2023 Average Net Production: 391 thousand barrels of oil equivalent per day
- Production Mix: 74% oil and natural gas liquids, 26% natural gas
Hess (NYSE: HES) has achieved significant recognition for its sustainability and management excellence. The company has been included in the Dow Jones Sustainability Index (DJSI) North America for the 15th consecutive year and has made it to the DJSI World Index for the third time. Notably, Hess is the only North American oil and gas producer in DJSI World and one of only four oil and gas companies in DJSI North America.
Additionally, Hess has been recognized in the Wall Street Journal's Top 250 Best Managed Companies of 2024, securing an impressive 8th place ranking for social responsibility. The WSJ ranking evaluates companies across five key areas: customer satisfaction, employee engagement and development, innovation, social responsibility, and financial strength, using 35 data inputs from 16 third-party sources.
Hess (NYSE: HES) has announced it will release its fourth quarter earnings and post supplemental information on its website on Wednesday, January 29. The company will not conduct a conference call due to the pending acquisition by Chevron, which was announced on October 23, 2023. The acquisition remains subject to closing conditions.
Hess operates as a global independent energy company focused on crude oil and natural gas exploration and production.
Hess (NYSE: HES) has announced that CEO John Hess will participate in a Fireside Chat at the Goldman Sachs Energy, CleanTech and Utilities Conference. The event is scheduled for January 7, 2025, at 11:00 a.m. Eastern Time. The company will provide a live webcast of the discussion, with a replay available on the Hess website. Hess is a global independent energy company focused on crude oil and natural gas exploration and production.
Hess (NYSE: HES) has achieved significant recognition for its sustainability efforts, securing the highest 'Level 5' rating in the Transition Pathway Initiative's 2024 Management Quality assessment for the fifth consecutive year. Notably, Hess stands as the only U.S. oil and gas company to achieve this distinction.
The company has also been named to Newsweek's America's Most Responsible Companies 2025 list, ranking as the highest-placed oil and gas company. This recognition is based on an analysis of the top 2,000 public companies by revenue, considering ESG performance indicators.
TPI evaluates over 2,000 companies on their greenhouse gas emissions management and strategic approach to low carbon economy risks and opportunities, aligned with frameworks including CDP, Global Reporting Initiative, Climate Action 100+ Initiative, and Task Force on Climate-related Financial Disclosures recommendations.
Hess (NYSE: HES) has announced its regular quarterly dividend of 50 cents per share on Common Stock. The dividend will be payable on December 31, 2024, to shareholders of record as of the close of business on December 16, 2024. Hess is a global independent energy company focused on crude oil and natural gas exploration and production.
Hess (NYSE: HES) announced that CEO John Hess will participate in a Keynote Fireside Chat at the Wolfe Research Oil & Gas Conference on Wednesday, November 20 at 7:50 a.m. Eastern Time. The event will be accessible through a live audio webcast and replay on the company's website.
Hess operates as a global independent energy company focused on crude oil and natural gas exploration and production.
Hess reported Q3 2024 net income of $498 million ($1.62 per share), compared to $504 million ($1.64 per share) in Q3 2023. Adjusted net income rose to $660 million ($2.14 per share). Oil and gas production increased 17% to 461,000 boepd, with Guyana production up 57% to 170,000 bopd and Bakken production up 8% to 206,000 boepd. The company increased its quarterly dividend by 14% to $0.50 per share. E&P capital expenditure guidance for 2024 was raised to $4.9 billion from $4.2 billion, reflecting accelerated FPSO vessel purchases.
Hess (NYSE: HES) has announced that it will release its third quarter earnings press release and post supplemental earnings information on its website at www.hess.com on Wednesday, October 30. The company will not hold a conference call due to the recently announced definitive agreement for Hess to be acquired by Chevron, subject to closing conditions. This agreement was announced on October 23, 2023.
Hess is described as a leading global independent energy company focused on the exploration and production of crude oil and natural gas. More information about the company can be found on their official website.
Hess (NYSE: HES) announced that the Federal Trade Commission (FTC) antitrust review of the Chevron-Hess merger has been completed, satisfying a key closing condition. CEO John Hess expressed satisfaction with this regulatory clearance, highlighting the merger's potential to create a premier integrated energy company. To address FTC concerns, John Hess will not join Chevron's Board but will serve as an advisor on Guyana relations and sustainability initiatives.
The Hess Board disagrees with the FTC's concern about Mr. Hess' OPEC communications, supporting his role as CEO. John Hess emphasized the need for long-term investment in both oil and gas and renewable energy to ensure affordable and secure energy. The merger's completion remains subject to resolving ongoing arbitration regarding preemptive rights in the Stabroek Block joint operating agreement.
Chevron announced that the Federal Trade Commission (FTC) has completed its antitrust review of the company's merger with Hess , satisfying a key closing condition. Chevron Chairman and CEO Mike Wirth expressed optimism about the merger's benefits for shareholders, the industry, and Guyana. To facilitate the merger's completion, Hess CEO John Hess will not join Chevron's Board of Directors but will serve as an advisor on government relations and social investments in Guyana, as well as support for the Salk Institute's Harnessing Plants Initiative.
The merger's completion remains subject to other closing conditions, including the resolution of ongoing arbitration proceedings regarding preemptive rights in the Stabroek Block joint operating agreement. Chevron is confident in its position regarding the arbitration process. Hess shareholders approved the merger agreement in May 2024.
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