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.
The Board of Directors of Hess Corporation (NYSE: HES) has declared a quarterly dividend of 43.75 cents per share, payable on March 30, 2023, to shareholders on record by March 13, 2023. This marks a significant 17% increase from the fourth quarter of 2022, equating to an additional 25 cents per share on an annualized basis. Hess Corporation is a global independent energy company involved in the exploration and production of crude oil and natural gas, emphasizing its commitment to delivering shareholder value through consistent dividend growth.
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Hess Corporation (HES) reported a robust fourth quarter for 2022, with net income soaring to $624 million or $2.03 per share, up from $265 million or $0.85 per share in 2021. This growth was primarily attributed to higher sales volumes in Guyana, notably from the Stabroek Block, which now holds estimated recoverable resources exceeding 11 billion barrels of oil equivalent. The Fangtooth SE-1 well, highlighting exploration success, encountered 200 feet of oil-bearing sandstone. The company also returned $405 million to shareholders in Q4 through dividends and share buybacks. Looking ahead, Hess forecasts 355,000 to 365,000 boepd production in 2023.
Hess Corporation (NYSE: HES) announced a $3.7 billion capital and exploratory budget for 2023, with over 80% allocated to developments in Guyana and the Bakken. The company aims to average 355,000 to 365,000 barrels of oil equivalent per day. Key allocations include $1.45 billion for production, $1.7 billion for Guyana developments, and $550 million for exploration efforts. The Bakken program includes a four rig setup to enhance cash flow and reduce costs. Production from Guyana is projected to reach 100,000 barrels per day.
Hess Corporation (NYSE: HES) will host a conference call on January 25, 2023, at 10 a.m. ET to discuss its fourth quarter 2022 earnings. Participants must register in advance to obtain a unique PIN and dial-in number. The call will also be available via an audio-only webcast. As a leading independent energy company, Hess focuses on crude oil and natural gas exploration and production. More details can be found on their official website.
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Hess Corporation (NYSE: HES) announced that John Hess, CEO, will take part in a Fireside Chat at the Goldman Sachs Global Energy and Clean Technology Conference on January 5, 2023, at 10:20 a.m. Eastern Time. The event will feature discussions on future trends in the energy sector.
A live webcast and replay will be available on Hess's website.
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The Board of Directors of Hess Corporation (NYSE: HES) has declared a quarterly dividend of 37.5 cents per share. This dividend will be payable on December 29, 2022, to shareholders on record as of the close of business on December 19, 2022. Hess Corporation, a global leader in energy, focuses on the exploration and production of crude oil and natural gas.
Hess Corporation (NYSE: HES) has entered a long-term partnership with the Government of Guyana to purchase REDD+ carbon credits worth at least $750 million from 2022 to 2032. This agreement aims to combat deforestation while supporting Guyana's Low Carbon Development Strategy (LCDS) 2030. Hess will acquire 37.5 million jurisdictional carbon credits verified under ART’s standards, contributing to the global effort in reducing emissions and achieving net-zero greenhouse gas emissions by 2050. The deal underscores both parties' commitment to sustainable development.