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) has announced a conference call on April 28, 2021, at 10 a.m. ET to discuss its Q1 2021 earnings release. U.S. participants can dial 877-693-6685, while international callers should use 443-295-9223, entering pass code 6296790. A webcast will also be available. The call will be replayed from March 28 through May 13, 2021. Hess is a global independent energy company engaged in crude oil and natural gas exploration and production. More details can be found on hess.com.
Hess Corporation (NYSE: HES) has agreed to sell its Little Knife and Murphy Creek acreage interests in North Dakota's Bakken for $312 million, effective March 1, 2021. The sale involves approximately 78,700 net acres, with net production averaging 4,500 barrels of oil equivalent per day. CEO John Hess stated that this transaction brings substantial value forward and enhances the company's liquidity. The deal is expected to close in May 2021, pending customary conditions.
Hess Corporation (NYSE: HES) announced that CEO John Hess will speak at the 49th Annual Scotia Howard Weil Energy Conference on March 23, 2021, at 10:00 a.m. Eastern Time. The company plans to share a presentation along with an audio webcast available on their website.
Hess Corporation (NYSE: HES) has announced the sale of its subsidiary Hess Denmark ApS, which owns a 61.5% interest in the South Arne Field, to Ineos E&P AS for $150 million, effective January 1, 2021. CEO John Hess highlighted that this move will enhance their cash position and allow for a greater focus on investments in Guyana. The South Arne Field averaged 5,800 barrels of oil equivalent per day in Q4 2020. The sale is expected to conclude in Q3 2021, pending customary approvals.
The Board of Directors of Hess Corporation declared a quarterly dividend of 25 cents per share. This dividend will be paid on March 31, 2021, to shareholders recorded by the close of business on March 17, 2021. As a leading global independent energy company, Hess is engaged in the exploration and production of crude oil and natural gas. For further details, visit hess.com.
Hess Corporation (NYSE: HES) announced that CEO John Hess will present at the Credit Suisse 26th Annual Energy Summit on March 1, 2021, at 8:10 a.m. ET. Investors can access a live audio webcast and a replay on Hess's website. As a leader in the energy sector, Hess is engaged in oil and natural gas exploration and production. Forward-looking statements will be included in the presentation, highlighting the company's outlook on financial performance.
Hess Corporation (NYSE: HES) announced a $1 million donation to the Houston Harris County 2021 Winter Storm Relief Fund and $1 million to the Houston Food Bank to assist communities affected by the severe winter storm and COVID-19 pandemic. The company will also match employee donations through its gift program. CEO John Hess expressed compassion for families impacted by the storm, while COO Greg Hill highlighted support for local leaders in Houston. The relief fund aids families with housing and repair needs, while the food bank provides essentials through community partners.
In a recent CERAWeek Conversations video, John Hess, CEO of Hess Corporation (NYSE: HES), addressed crucial energy topics, emphasizing the need for both climate and energy literacy to combat climate change. He predicts a V-shaped recovery for oil demand by early next year as vaccination efforts continue, while supply recovers more slowly. Hess highlighted the significance of the oil and gas sector to the U.S. economy, noting it provides 12 million jobs. The company aims to enhance cash flow and grow its oil resources, particularly in Guyana, where significant discoveries have been made.
Hess Corporation (NYSE: HES) reported a net loss of $97 million ($0.32/share) in Q4 2020, an improvement from a $222 million loss in Q4 2019. Adjusted net loss was $176 million ($0.58/share), slightly better than the previous year's $180 million loss. The decline in realized crude oil prices was notable, averaging $39.45 per barrel compared to $55.05 in 2019. Cash operating costs per barrel decreased by 10% to $11.31. The company focused on cost reduction and high-return investments in Guyana and the Bakken, with net production at 309,000 boepd, down from 316,000 boepd year-over-year.
Hess Corporation (NYSE: HES) has announced a $1.9 billion capital and exploratory budget for 2021, focused primarily on Guyana and the Bakken, with over 80% allocated to these regions. The company forecasts a net production averaging 310,000 barrels of oil equivalent per day, excluding Libya, with the Bakken expected to contribute 170,000 barrels per day. Investments include $780 million for offshore Guyana developments and $450 million for exploration and appraisal activities, aiming to sustain production and enhance cash flow growth.