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) 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.
The Board of Directors of Hess Corporation (NYSE: HES) has declared a quarterly dividend of 37.5 cents per share. This dividend will be payable on December 29, 2022, to shareholders on record as of the close of business on December 19, 2022. Hess Corporation, a global leader in energy, focuses on the exploration and production of crude oil and natural gas.
Hess Corporation (NYSE: HES) has entered a long-term partnership with the Government of Guyana to purchase REDD+ carbon credits worth at least $750 million from 2022 to 2032. This agreement aims to combat deforestation while supporting Guyana's Low Carbon Development Strategy (LCDS) 2030. Hess will acquire 37.5 million jurisdictional carbon credits verified under ART’s standards, contributing to the global effort in reducing emissions and achieving net-zero greenhouse gas emissions by 2050. The deal underscores both parties' commitment to sustainable development.
Hess Corporation (NYSE: HES) has successfully sold its 8.16% interest in the Waha Concession in Libya. The sale has been made in equal shares to TotalEnergies and ConocoPhillips. This divestment indicates Hess's strategic direction in optimizing its asset portfolio as a global independent energy company focused on crude oil and natural gas exploration and production.
Hess Corporation (NYSE: HES) announced that CEO John Hess will deliver a keynote presentation at the Bank of America Securities 2022 Global Energy Conference on November 17, 2022, at 7:45 a.m. ET. A live webcast and replay will be available on Hess's website.
Hess Corporation focuses on the exploration and production of crude oil and natural gas, providing updates on its financial performance and projections, subject to various risk factors.
Hess Corporation (NYSE: HES) reported a significant increase in third-quarter 2022 net income, reaching $515 million, or $1.67 per share, compared to $115 million, or $0.37 per share, in Q3 2021. Adjusted net income was $583 million, bolstered by rising oil prices and production levels. The Stabroek Block in Guyana saw two new discoveries, enhancing its resource estimate to approximately 11 billion barrels of oil equivalent. Cash returned to shareholders totaled $265 million, including $150 million in share repurchases. E&P capital expenditures rose to $701 million, reflecting intensified drilling activities.
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