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 Corporation (NYSE: HES) will have its CEO, John Hess, participate in a Fireside Chat at the J.P. Morgan 2021 Energy, Power & Renewables Conference on June 23 at 8:50 a.m. Eastern Time. This session will be available via a live audio webcast, with a replay accessible on the Hess Corporation website. The company emphasizes that forward-looking statements made during the event are subject to various risk factors.
Hess Corporation (NYSE: HES) announced a significant offshore oil discovery at the Longtail-3 well on the Stabroek Block, encountering 230 feet of net pay. This well is located near the original Longtail-1 site and underscores Hess's strong operational capacity in the region. Additionally, the Mako-2 appraisal well confirmed robust reservoir characteristics, supporting plans for a potential fifth FPSO. Hess's gross discovered recoverable resource estimate now stands at approximately 9 billion barrels of oil equivalent, reinforcing development prospects on the Stabroek Block.
The Board of Directors of Hess Corporation declared a quarterly dividend of 25 cents per share on its Common Stock. This dividend will be payable on June 30, 2021, to shareholders on record as of the close of business on June 15, 2021.
Hess Corporation is a prominent global independent energy company engaged in crude oil and natural gas exploration and production.
Hess Corporation (NYSE: HES) announced that CEO John Hess will participate in a fireside chat at the Alliance Bernstein 37th Annual Strategic Decisions Conference on June 2, 2021, at 1:30 p.m. ET. A presentation will be posted, and an audio webcast will be available on the company’s website.
Hess Corporation (NYSE: HES) announced that CEO John Hess will participate in a fireside chat at the UBS Global Energy Virtual Conference on May 26, 2021, at 8:00 a.m. ET. An audio webcast of the presentation will be available on the company's website. As a leading global independent energy company, Hess focuses on the exploration and production of crude oil and natural gas. The presentation may include forward-looking statements, and actual results may differ due to risk factors disclosed in periodic SEC reports.
Hess Corporation (NYSE: HES) has been ranked as the No. 1 energy company on the 2021 100 Best Corporate Citizens list, marking its 14th consecutive year on this prestigious list. The ranking is based on an independent assessment by ISS-ESG and evaluates companies within the Russell 1000 Index on their environmental, social, and governance (ESG) performance. Hess is the only oil and gas producer recognized in 2021, underscoring its commitment to sustainability and stakeholder value, as emphasized by CEO John Hess.
Hess Corporation (NYSE: HES) announced that CEO John Hess will participate in a Fireside Chat at the Citi 2021 Global Energy & Utilities Virtual Conference on May 11, 2021, at 12:50 p.m. Eastern Time. A live audio webcast and replay will be available on Hess Corporation’s website.
Hess Corporation (NYSE: HES) has completed the sale of its Little Knife and Murphy Creek acreage in North Dakota's Bakken region to Enerplus Corporation for $312 million, effective March 1, 2021. CEO John Hess emphasized that this transaction brings significant value forward and enhances the company's cash and liquidity position, given the acreage was not scheduled for drilling until after 2026. This strategic move is aimed at optimizing asset management and supporting Hess's financial health.
Hess Corporation (NYSE: HES) reported a net income of $252 million, or $0.82 per share, for Q1 2021, a significant recovery from a loss of $2,433 million in Q1 2020. Adjusted net income improved from a loss of $182 million to $252 million. The increase was driven by higher realized prices, successful sales of VLCC cargos, and reduced depreciation costs. Net production reached 315,000 boepd, although Bakken production declined. Hess plans to prioritize debt reduction and capital return to shareholders, reflecting a strategic focus on sustainable cash flow growth.
Hess Corporation (NYSE: HES) announced a significant oil discovery at the Uaru-2 well on the Stabroek Block offshore Guyana, contributing to an estimated 9 billion barrels of recoverable oil resources. The well, drilled in 5,659 feet of water, encountered 120 feet of high-quality oil-bearing sandstone. CEO John Hess indicated plans for at least six Floating Production Storage and Offloading (FPSOs) by 2027. Meanwhile, production from the Liza Phase 1 is expected to stabilize between 100,000-110,000 barrels per day due to maintenance, with Liza Phase 2 on track for early 2022 startup.
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