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) will hold a conference call on January 27, 2021, at 10 a.m. ET to discuss its fourth quarter 2020 earnings release. U.S. participants can call 877-693-6685, while international callers can reach 443-295-9223, using pass code 3282638. The call will also be available via webcast. A replay can be accessed from January 27 through February 11, 2021, using the same pass code. Hess is a leading independent energy company specializing in crude oil and natural gas exploration and production.
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The Board of Directors of Hess Corporation has declared a quarterly dividend of 25 cents per share. This dividend is payable on December 30, 2020, to shareholders on record as of December 15, 2020. As a leading global independent energy company, Hess is actively involved in crude oil and natural gas exploration and production.
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Hess Corporation (NYSE: HES) announced that CEO John Hess will present at the Bank of America Securities 2020 Global Energy Conference on November 10, 2020, at 10:00 a.m. Eastern Time. The event will include a live audio webcast, with a replay available on Hess Corporation's website. Hess is recognized as a leading independent energy company focusing on crude oil and natural gas exploration.
Hess Corporation (NYSE: HES) has finalized the sale of its 28% working interest in the Shenzi Field in the Gulf of Mexico to BHP for $505 million, effective July 1, 2020. CEO John Hess remarked that this transaction enhances cash liquidity in a low price environment and will fund significant investments in Guyana. The sale underscores Hess's strategic efforts to optimize their asset portfolio.
Hess Corporation (NYSE: HES) reported a net loss of $243 million or $0.80 per share for Q3 2020, compared to a $212 million loss in Q3 2019. Adjusted net loss was $216 million, down from $105 million a year earlier, primarily due to lower crude prices and increased exploration expenses. Average realized oil prices fell to $36.17 per barrel. Production rose by 11% to 321,000 boepd, driven by the Bakken region and Guyana. Despite the challenges, the company aims for a breakeven price below $40 per barrel by mid-decade, bolstered by low-cost projects in Guyana.
Hess Corporation (NYSE: HES) has scheduled a conference call for October 28, 2020, at 10 a.m. Eastern Time to discuss its third quarter 2020 earnings. Participants can dial in via two numbers, depending on their location, and a replay of the call will be available until November 11, 2020. Hess is a global independent energy company focused on the exploration and production of crude oil and natural gas. More details are available on their website.
Hess Corporation (NYSE: HES) announced an agreement to sell its 28% working interest in the Shenzi Field in the Gulf of Mexico to BHP Billiton for $505 million, effective July 1, 2020. The field averaged 11,000 net barrels of oil equivalent per day in the first eight months of 2020. CEO John Hess stated that proceeds will fund investments in Guyana, aligning with the company's strategy to preserve cash amidst low oil prices. The transaction is expected to close before the end of 2020, subject to customary conditions.
Hess Corporation (NYSE: HES) has decided to develop the Payara Field offshore Guyana, following government approval of its development plan. This marks the third oil development on the Stabroek Block, which is projected to produce around 560,000 barrels of oil per day by 2024. The development will use the Prosperity FPSO, with a capacity of 220,000 barrels per day. Hess's net share of development costs is estimated to be about $1.8 billion, with an expected first oil production in 2024.