Multiple discoveries have revealed 5 billion BOE of resource
Hess (stock ticker: HES) announced fourth quarter results and reserves today, the first major E&P company to release earnings this quarter.

Hess reported a net loss of $5 million in Q4, or ($0.05) per share, compared to a loss of $2.7 billion, ($8.57) per share in Q4 2017. In total, Hess lost $282 million in 2018, compared to $4.1 billion in 2017.

Hess currently holds 1,192 MMBOE in reserves, up from 1,154 MMBOE in 2017. Most of this increase was due to expanded operations in the Bakken, where Hess added 172 MMBOE of reserves. Excluding asset sales, the company replaced 170% of its production, at an average F&D cost of $11.75/BOE. These metrics fall short of the 351% pr...

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