Hess Corporation Archives - Page 5 of 7

Hess deepens spending cuts, posts quarterly loss on virus-fueled oil rout

May 7, 2020

Reuters U.S. oil and gas producer Hess Corp on Thursday introduced deeper spending cuts after reporting a quarterly loss due to impairment charges of $2.25 billion on some oil-producing assets amid the coronavirus crisis. Stay-at-home orders designed to contain the coronavirus pandemic have forced businesses to shut down, cutting worldwide demand for oil and creating a supply glut. U.S. crude

The Oil And Gas Situation: Bleak In The U.S., Surprisingly Positive In Latin America

May 5, 2020

Forbes How bad is the situation for the oil and gas industry in the U.S. right now? Let’s take a look at some compelling recent data points: On Friday, ExxonMobil posted its first quarterly loss since 1999. On Thursday, Royal Dutch Shell cut its dividend for the first time since the 1940s. In it’s most recent weekly rig county update, Enverus reports that “As of April 29, the

Hess, Concho, Callon join Exxon in tightening budget amid oil crash

March 17, 2020

Reuters U.S. producers Hess Corp, Concho Resources Inc and Callon Petroleum Co on Tuesday followed oil major Exxon Mobil Corp in cutting their spending for the year, as oil prices continued to trade below $30 a barrel. Oil producers are trying to shore up cash as a double-whammy from the Saudi-Russia price war and dwindling demand because of the coronavirus

Hess bucks trend on spending because of Exxon-led Guyana growth

January 28, 2020

Houston Chronicle As most of the oil industry cuts back on spending, Hess Corp. said Tuesday it will allocate more money this year to its growth in the tiny South American country Guyana. After the Exxon Mobil-led partnership with Hess in Guyana began producing oil in December, Exxon and Hess plan to dedicate more dollars to ramping up oil output

Exclusive: Guyana opening search for oil firm to trade its crude – official

January 24, 2020

Reuters GEORGETOWN – Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in an interview. The government is entitled to a portion of the light, sweet crude that a consortium led by Exxon

Bankers ‘bombard’ Guyana with financing plans as oil boom begins: finance minister

January 21, 2020

Reuters GEORGETOWN (Reuters) – Bankers are “bombarding” Guyana with offers of financing backed by future oil production, the finance minister told Reuters, but the South American nation is rejecting the proposals to avoid the excessive borrowing that has plagued other oil producers. As the former British colony begins its first significant oil production this year, it is wary of avoiding

Vessel carrying Guyana’s first-ever oil cargo sets sail for the U.S.: Tanker Trackers

January 20, 2020

Reuters A vessel carrying about 1 million barrels crude oil from Guyana set sail on Monday for the United States, according to vessel tracking service TankerTrackers.com, ushering the tiny South American nation into ranks of the world’s oil exporters. The first cargo of Liza crude departed from the floating platform Liza Destiny off Guyana, operated by U.S. companies Exxon Mobil,

U.S. crude stockpiles jump sharply as refiners cut activity: EIA-oag360

Hess posts loss as lower oil prices cap production gains

October 30, 2019

Source: Reuters (Reuters) – Hess Corp (HES.N) reported a quarterly loss on Wednesday, as lower oil and gas prices limited gains from higher production, sending its shares down nearly 5%. The results come a day after shale player Concho Resources Inc (CXO.N) posted adjusted earnings that more than halved on the back of tumbling prices. Hess said average prices for

Exxon Funds Liza Phase 2 Development Offshore Guyana

May 3, 2019

From Reuters Exxon Mobil Corp said on Friday it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals. Exxon has been investing heavily in its U.S. shale operations and in Guyana, which has become the focus of intense interest since the company announced the discovery of over 5 billion barrels of oil and

stena carron exxon mobil drillship offshore guyana rig -oilandgas360

Exxon Mobil, Hess announce 13th Guyana discovery

April 22, 2019

From Houston Chronicle Exxon Mobil said Thursday it made its 13th oil discovery offshore of Guyana, increasing its rapidly rising tally of finds near the tiny South American nation. The new Yallowtail-1 well discovery comes in the Turbot area of what’s known as the potentially prolific Stabroek Block offshore of Guyana that Exxon Mobil is exploring with its New York-based

Hess, Exxon Announce Two New Discoveries Offshore Guyana

February 6, 2019

Hess Announces Two New Discoveries Offshore Guyana

Hess Targeting 750 MBOEPD From Guyana

January 30, 2019

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

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