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 new discoveries at the Yarrow-1 and Sailfin-1 wells on the Stabroek Block, raising their total discoveries in 2022 to nine. These wells contributed to an estimated recoverable resource of about 11 billion barrels of oil equivalent. The Yarrow-1 well encountered 75 feet of quality oil-bearing sandstone, while Sailfin-1 encountered 312 feet of similar resources. Current production from Liza Phase 1 and 2 exceeds 360,000 barrels daily, with further growth anticipated in 2027.
Hess Corporation (NYSE: HES) will hold a conference call on October 26, 2022, at 10 a.m. ET to discuss its third quarter 2022 earnings release. Participants must register in advance to receive a unique PIN and dial-in number. The call will also be available via webcast. Hess Corporation is a global independent energy company specializing in the exploration and production of crude oil and natural gas. More details can be found on their website.
The North Dakota Tribal College System (NDTCS) has launched a new apprenticeship program in collaboration with Hess Corporation (NYSE:HES) to enhance educational and employment opportunities for Native Americans in North Dakota. Over the next four years, Hess will invest $12 million, supplemented by $1 million each from Halliburton and Nabors Industries. The program follows an 'earn and learn' model, offering students skills training and potential pathways to higher degrees, starting in January 2023.
The Board of Directors of Hess Corporation (NYSE: HES) announced a quarterly dividend of 37.5 cents per share, payable on September 30, 2022. Shareholders must hold shares by September 19, 2022 to receive this dividend. Hess Corporation is a prominent independent energy company focused on crude oil and natural gas exploration and production. The dividend reflects the company's commitment to returning value to shareholders while maintaining operations in the energy sector.
Hess Corporation (NYSE: HES) will have its CEO, John Hess, present at the Barclays CEO Energy-Power Conference in New York on September 8, 2022, at 8:00 a.m. Eastern Time. A live audio webcast will be available, along with a replay on Hess's website. Hess Corporation specializes in the exploration and production of crude oil and natural gas.
Hess Corporation (NYSE: HES) reported a substantial turnaround in its second quarter 2022 results, posting a net income of $667 million or $2.15 per share, compared to a net loss of $73 million or $0.24 per share in the same quarter of 2021. This improvement was primarily driven by higher realized oil and gas prices. Key operational developments include two new discoveries in the Stabroek Block offshore Guyana, with total recoverable resources now estimated at 11 billion barrels of oil equivalent. The company also commenced stock buybacks, purchasing 1.8 million shares for $190 million.
Hess Corporation (NYSE: HES) announced two new oil discoveries at the Seabob-1 and Kiru-Kiru-1 well locations in the Stabroek Block, bringing the total discoveries for 2022 to seven. These wells contribute to the estimated 11 billion barrels of recoverable resources in the area. Seabob-1 encountered 131 feet of high-quality oil-bearing sandstone, while Kiru-Kiru-1 encountered 98 feet of hydrocarbons. The company continues to develop multiple projects with expected production capacities surpassing 1 million barrels per day by 2027.
Hess Corporation (NYSE: HES) will host a conference call on July 27, 2022, at 10 a.m. Eastern Time to discuss its second quarter 2022 earnings. Participants must register in advance to receive a unique PIN and dial-in number, and the call will also be available via webcast. Hess Corporation focuses on crude oil and natural gas exploration and production. Interested parties can find more details on their official website.
His Excellency Dr. Irfaan Ali of Guyana announced a national healthcare initiative with Mount Sinai Health System and Hess Corporation (NYSE: HES) to enhance healthcare quality and accessibility in Guyana. This collaboration will focus on improving primary care and specialized services, especially in cardiology and oncology, at the Georgetown Public Hospital Corporation. The initiative is a multi-year project funded jointly by Hess Corporation and the Guyanese government, with a 40-member team from Mount Sinai set to begin work this summer.
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