Welcome to our dedicated page for Hess news (Ticker: HES), a resource for investors and traders seeking the latest updates and insights on Hess 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) has announced a $50 million donation to the Salk Institute’s Harnessing Plants Initiative (HPI) over the next five years to combat climate change. This funding will enhance research capabilities, including faculty recruitment and establishing the Hess Center for Plant Science. Previous donations include $12.5 million in 2020 and $3 million in 2021. CEO John Hess emphasized the initiative's potential impact on global carbon capture and net-zero emissions. The Salk Institute's leadership praised Hess for their support, noting that it addresses urgent climate challenges and fosters groundbreaking plant science research.
Halliburton Company (NYSE: HAL) announced that Hess Corporation (NYSE: HES) selected its DecisionSpace® 365 Well Construction applications, powered by iEnergy® Hybrid Cloud, for more efficient well planning and construction. The applications create a digital twin of the well construction process, enabling real-time collaboration between operators and service providers. Hess aims to enhance operational performance sustainably while reducing costs. Halliburton's technology integrates artificial intelligence and machine learning for better oversight across the well construction lifecycle.
The Board of Directors of Hess Corporation (NYSE: HES) has declared a quarterly dividend of 43.75 cents per share, payable on March 30, 2023, to shareholders on record by March 13, 2023. This marks a significant 17% increase from the fourth quarter of 2022, equating to an additional 25 cents per share on an annualized basis. Hess Corporation is a global independent energy company involved in the exploration and production of crude oil and natural gas, emphasizing its commitment to delivering shareholder value through consistent dividend growth.
Hess Corporation (HES) reported a robust fourth quarter for 2022, with net income soaring to $624 million or $2.03 per share, up from $265 million or $0.85 per share in 2021. This growth was primarily attributed to higher sales volumes in Guyana, notably from the Stabroek Block, which now holds estimated recoverable resources exceeding 11 billion barrels of oil equivalent. The Fangtooth SE-1 well, highlighting exploration success, encountered 200 feet of oil-bearing sandstone. The company also returned $405 million to shareholders in Q4 through dividends and share buybacks. Looking ahead, Hess forecasts 355,000 to 365,000 boepd production in 2023.
Hess Corporation (NYSE: HES) announced a $3.7 billion capital and exploratory budget for 2023, with over 80% allocated to developments in Guyana and the Bakken. The company aims to average 355,000 to 365,000 barrels of oil equivalent per day. Key allocations include $1.45 billion for production, $1.7 billion for Guyana developments, and $550 million for exploration efforts. The Bakken program includes a four rig setup to enhance cash flow and reduce costs. Production from Guyana is projected to reach 100,000 barrels per day.
Hess Corporation (NYSE: HES) will host a conference call on January 25, 2023, at 10 a.m. ET to discuss its fourth quarter 2022 earnings. Participants must register in advance to obtain a unique PIN and dial-in number. The call will also be available via an audio-only webcast. As a leading independent energy company, Hess focuses on crude oil and natural gas exploration and production. More details can be found on their official website.
Hess Corporation (NYSE: HES) announced that John Hess, CEO, will take part in a Fireside Chat at the Goldman Sachs Global Energy and Clean Technology Conference on January 5, 2023, at 10:20 a.m. Eastern Time. The event will feature discussions on future trends in the energy sector.
A live webcast and replay will be available on Hess's website.
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