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.
The HES news page on Stock Titan provides an organized view of historical and corporate news related to Hess Corporation, a company that described itself as a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. News items cover the period when Hess operated as an independent public company and the subsequent corporate transformation resulting from its acquisition by Chevron Corporation.
Recent news includes Chevron’s announcement that it completed its acquisition of Hess Corporation, following satisfaction of closing conditions and a favorable arbitration outcome regarding Hess’s offshore Guyana asset. This transaction created a combined company with a portfolio that includes Hess’s assets in Guyana, the U.S. Bakken, the Gulf of America and Southeast Asia. The news release explains that Hess shareholders receive Chevron shares under the merger terms and that Hess becomes a direct, wholly owned subsidiary of Chevron.
Other Hess news items include quarterly and annual earnings releases that detail net income, net production, capital and exploratory expenditures and regional operational highlights. These reports describe performance in areas such as the Bakken shale, offshore Guyana developments on the Stabroek Block, the Gulf of America and Southeast Asia. Additional releases cover regular quarterly dividend declarations on Hess common stock and scheduling notices for earnings releases, which reference the definitive agreement for Hess to be acquired by Chevron.
Hess-related news also highlights environmental, social and governance activities, including a joint announcement with the Government of Guyana and the Mount Sinai Health System about a national healthcare initiative in Guyana. This initiative, funded jointly by Hess and the Government of Guyana and led by Mount Sinai entities, aims to transform the country’s public health system and has been extended for an additional five years.
By reviewing the HES news feed, users can trace Hess Corporation’s financial results, operational milestones, dividends, ESG initiatives and the steps leading to and following its acquisition by Chevron.
Hess Corporation (NYSE: HES) announced its 20th significant oil discovery on the Stabroek Block off the coast of Guyana at Pinktail, adding to its recoverable resource estimate of over 9 billion barrels of oil equivalent. The Pinktail well encountered 220 feet of net pay in high-quality oil-bearing sandstone. Additionally, the Turbot-2 well confirmed further oil pay, enhancing earlier findings. The Liza Unity FPSO is set to begin production in early 2022, with a capacity of approximately 220,000 gross barrels per day. Ongoing exploration strengthens Hess's position in the energy sector.
The Board of Directors of Hess Corporation (NYSE: HES) announced a regular quarterly dividend of 25 cents per share. This dividend will be paid to shareholders on September 30, 2021, for those on record by September 15, 2021. Hess is a prominent global independent energy company focused on crude oil and natural gas exploration and production.
Hess Corporation (NYSE: HES) announced that CEO John Hess will present at the Barclays CEO Energy-Power Conference in New York on September 9, 2021, at 8:00 a.m. Eastern Time. Interested parties can access a live audio webcast and a replay via Hess Corporation’s website. Hess Corporation is a global independent energy company focused on crude oil and natural gas exploration and production. Further details are available in the company's periodic reports filed with the Securities and Exchange Commission.
Hess Corporation (NYSE: HES) has finalized the sale of its subsidiary Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field, to Ineos E&P AS for $150 million, effective January 1, 2021. This divestiture aims to concentrate Hess's portfolio and enhance its cash position. The proceeds are earmarked for investments in the promising Guyana region. CEO John Hess emphasized the strategic focus on high-value opportunities as the rationale for this sale.
Hess Corporation (NYSE: HES) reported a net loss of $73 million ($0.24 per share) for Q2 2021, a significant improvement from a $320 million loss in Q2 2020. Adjusted net income rose to $74 million as higher oil prices boosted revenue. Key operational highlights include a realized crude oil price of $59.79 per barrel, with total production of 307,000 boepd. The company continues to focus on debt reduction, having paid off $500 million of its $1 billion loan, while investments in Guyana remain promising with new oil discoveries. Cash provided by operating activities was $785 million.
Hess Corporation (NYSE: HES) announced a significant oil discovery at the Whiptail-1 well on the Stabroek Block offshore Guyana, encountering 246 feet of net pay in high-quality oil reservoirs. The Whiptail-2 well, drilling nearby, has encountered 167 feet of net pay. CEO John Hess highlighted that this discovery could enhance the estimated 9 billion barrels of recoverable resources. Ongoing development includes Liza Phase 2 and the Payara Field, with production targets set for 2022 and 2024, respectively.
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Hess Corporation (NYSE: HES) will host a conference call on July 28, 2021, at 10 a.m. ET to discuss its second quarter earnings. Participants in the U.S. can dial 877-693-6685, while international participants can call 443-295-9223, using pass code 4770318. A webcast option is also available. A replay will be accessible from July 28 to August 12, 2021. Hess is a major player in energy, focused on crude oil and natural gas exploration and production, with detailed information available on its website.
Hess Corporation (NYSE: HES) announced a $1.4 million grant to the Jackie Robinson Foundation, reinforcing its commitment to diversity, equity, and inclusion. This grant allocates $1 million for the upcoming Jackie Robinson Museum in New York City and $400,000 for scholarships and support services for underrepresented college students. Starting in 2022, Hess plans to offer internship opportunities to these scholars, enhancing their educational experience. CEO John Hess emphasized the company's dedication to social investment and leadership development through education.
Hess Corporation (NYSE: HES) has committed $9 million over three years to support educational programs for children in economically disadvantaged communities in Houston. This initiative, part of the Learning for Life Partnership, aims to benefit around 13,000 students across 22 schools in areas like Third Ward and Magnolia Park-Manchester. The funding will go to various nonprofits and encompass STEM education, mentorship, and scholarships. This framework expands upon Hess's previous $7.4 million investment in education over the last eight years, demonstrating a commitment to community enhancement.