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Hess Corporation reported operating results, dividend actions, material agreements and governance matters as a global independent energy company engaged in exploration and production of crude oil and natural gas. Company updates have centered on realized oil prices, production volumes, exploration expense, common-stock dividends, and the Midstream segment, including Hess Midstream-related unit and debt activity.
Hess developments also include Guyana operations on the Stabroek Block, including sanctioned oil projects such as Yellowtail, Uaru and Whiptail, and public-private initiatives in Guyana. In July 2025, Hess became the surviving corporation in a completed merger and a direct wholly owned subsidiary of Chevron Corporation, making subsequent news part of a corporate-status transition for the former public issuer.
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Hess Corporation (HES) has reported a first quarter 2023 net income of $346 million, or $1.13 per share, down from $417 million, or $1.34 per share, in Q1 2022. Adjusted net income from the previous year was $404 million, or $1.30 per share. The decrease in net income is attributed to lower realized oil prices despite higher production volumes, which increased to 374,000 barrels of oil equivalent per day (boepd), up 36% year-over-year. A notable dividend increase of 17% has also been announced, bringing it to $0.4375 per share. Significant developments include the arrival of the Prosperity FPSO in Guyana and a new oil discovery at the Lancetfish-1 well. Full-year net production guidance has been raised to between 365,000 and 375,000 boepd due to strong operational performance.
Hess Corporation (NYSE: HES) will hold a conference call on April 26, 2023, at 10 a.m. Eastern Time to discuss its Q1 2023 earnings. Participants must register in advance to receive a unique PIN and dial-in number. The call will also be accessible via a webcast. As a leading independent energy company, Hess specializes in crude oil and natural gas production.
Hess Corporation (NYSE: HES) has announced a $50 million donation to the Salk Institute’s Harnessing Plants Initiative (HPI) over the next five years to combat climate change. This funding will enhance research capabilities, including faculty recruitment and establishing the Hess Center for Plant Science. Previous donations include $12.5 million in 2020 and $3 million in 2021. CEO John Hess emphasized the initiative's potential impact on global carbon capture and net-zero emissions. The Salk Institute's leadership praised Hess for their support, noting that it addresses urgent climate challenges and fosters groundbreaking plant science research.
Halliburton Company (NYSE: HAL) announced that Hess Corporation (NYSE: HES) selected its DecisionSpace® 365 Well Construction applications, powered by iEnergy® Hybrid Cloud, for more efficient well planning and construction. The applications create a digital twin of the well construction process, enabling real-time collaboration between operators and service providers. Hess aims to enhance operational performance sustainably while reducing costs. Halliburton's technology integrates artificial intelligence and machine learning for better oversight across the well construction lifecycle.