Post Tagged with: "Hess"

Source: Reuters

Hess posts smaller-than-expected loss on higher output, lower costs

Reuters


U.S. oil and gas producer Hess Corp reported a smaller-than-expected quarterly loss on Wednesday, as higher output and lower costs helped offset a plunge in oil prices due to the coronavirus crisis, sending its shares 3% higher.

Crude prices …

Source: Reuters

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

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 …

Source: Forbes

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

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:

Source: Reuters

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

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 …

Exxon Funds Liza Phase 2 Development Offshore Guyana

Exxon Funds Liza Phase 2 Development Offshore Guyana

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 …

Exxon Mobil, Hess announce 13th Guyana discovery

Exxon Mobil, Hess announce 13th Guyana discovery

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 …

Hess, Exxon Announce Two New Discoveries Offshore Guyana

Hess, Exxon Announce Two New Discoveries Offshore Guyana

Hess Announces Two New Discoveries Offshore Guyana

February 6, 2019 - 8:08 am Closing Bell Story‎, Press Releases
Hess Targeting 750 MBOEPD From Guyana

Hess Targeting 750 MBOEPD From Guyana

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,

Hess Announces Bakken Water Drop Down

Hess Announces Bakken Water Drop Down

Hess Infrastructure Partners LP Announces Proposed Acquisition of Hess Corporation’s Bakken Water Business

December 11, 2018 - 10:30 am Closing Bell Story‎, MLP News, Press Releases
Hess Says $2.1 Billion of E&P Capital Going to Bakken and Guyana in 2019

Hess Says $2.1 Billion of E&P Capital Going to Bakken and Guyana in 2019

Hess Announces 2019 E&P Capital and Exploratory Budget

December 10, 2018 - 10:30 am Closing Bell Story‎, Press Releases
Hess Bumps Up Stabroek Recoverable Resource Estimate to 5 Billion BOE

Hess Bumps Up Stabroek Recoverable Resource Estimate to 5 Billion BOE

Hess Announces 10th Discovery and Increased Stabroek Block Resource Estimate Offshore Guyana

Occidental Looks to Sell $5 Billion in Pipeline Assets: Reuters

Occidental Looks to Sell $5 Billion in Pipeline Assets: Reuters

From Reuters

Occidental Petroleum Corp (OXY.N) is exploring a sale of its pipeline assets, hoping to fetch more than $5 billion and free up capital to invest in exploration and production as oil prices rebound, people familiar with the matter …

July 24, 2018 - 5:34 pm Closing Bell Story‎, Energy News, Finance, Midstream
Hess Announces Eighth Oil Discovery Offshore Guyana

Hess Announces Eighth Oil Discovery Offshore Guyana

Hess Corporation (NYSE: HES) today announced an eighth oil discovery offshore Guyana at the Longtail-1 exploration well, creating the potential for additional resource development in the southeast area of the Stabroek Block.

The well encountered approximately 256 feet (78 meters) …

Source: Gassco Karsto Pipes

U.S. Oil Pipeline Companies Seek Tariff Exemptions

From Reuters

Major U.S. energy companies including Plains All American Pipeline (PAA.N), Hess Corp (HES.N) and Kinder Morgan Inc (KMI.N) are among many seeking exemptions from steel-import tariffs as the United States ratchets up trade tensions with exporters including China, …

Stena Carron - Daytime

Hess Net Q1 Production: 233 MBOEPD – Bakken 111 MBOEPD

Bakken production up 11% over Q1 2017

Hess Corporation (ticker: HES) reported a net loss of $106 million, or $(0.38) per common share in Q1 2018. This compares to a net loss of $324 million, or $(1.07) per share in …

Billionaire Cooperman Looks for $70 WTI, Names His Oil & Gas Stock Picks

Billionaire Cooperman Looks for $70 WTI, Names His Oil & Gas Stock Picks

From CNBC

Billionaire investor Leon Cooperman predicted U.S. oil’s rise to $60 a barrel, and now he says it could hit $70.

“I think the supply-demand outlook is favorable, and we would not be surprised to see oil reaching $70 …

February 8, 2018 - 2:06 pm Closing Bell Story‎, Energy News
Source: Hess

Exxon Mobil Makes Sixth Oil Discovery Offshore Guyana

Exxon Mobil Corporation (ticker: XOM) has discovered its sixth oil reservoir in offshore Guyana since 2015, resulting from the Ranger-1 exploration well.

The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which …

Valhall Drilling Platform, Norway

Aker BP Closes Hess Norge Deal at $2 Billion

Norwegian Aker BP (ticker: AKERBP) and Hess Corporation (ticker: HES) have completed the previously announced sale of Hess Norge to Aker BP for $2 billion, effective January 1, 2017.

Hess Norge owns interests in the Valhall (64.05%) and Hod (62.5%) …

North Dakota Oil Production – Same Players, Different Pecking Order

North Dakota Oil Production – Same Players, Different Pecking Order

Continental, Whiting, others shift positions from 2 years ago

The North Dakota Industrial Commission released its September 2017 oil production data this week, reporting per-well production across the state.

The largest oil producers in the Bakken/Three Forks plays in North …

Exxon Mobil and Hess Corp. Announce World-Class Oil Discovery

Exxon Mobil and Hess Corp. Announce World-Class Oil Discovery

The equivalent of 1,400 Gulf of Mexico Blocks: Tillerson

Exxon Mobil (ticker: XOM) and Hess Corp. (ticker: HES) announced initial results from the Liza-2 exploration well in the Stabroek block of offshore Guyana.

This announcement follow the success of the …

Hess Battles $1.5 Billion Suit Over Closed Refinery in the U.S. Virgin Islands

Hess Battles $1.5 Billion Suit Over Closed Refinery in the U.S. Virgin Islands

The U.S. Virgin Islands filed a lawsuit against Hess Corp. (ticker: HES) for approximately $1.5 billion, saying the company violated its contract by shuttering its refinery in St. Croix.

Prior to being shuttered, the facility was once the world’s largest …

September 16, 2015 - 3:49 pm Downstream, International, Oil and Gas 360 Articles
Shell-BG Merger Accounts for 73% of Q2 M&A

Shell-BG Merger Accounts for 73% of Q2 M&A

M&A activity down in terms of volume, but Shell-BG megadeal pushes overall dollar value up

The second quarter of 2015 showed the largest amount of activity in mergers and acquisitions (M&A) in the oil and gas sector by value since …

July 22, 2015 - 1:28 pm Mergers & Acquisitions, Oil and Gas 360 Articles
Hess Midstream Partners LP One Step Closer to Reality

Hess Midstream Partners LP One Step Closer to Reality

Next Up: IPO

Hess Corporation (ticker: HES) has announced plans for a 50/50 joint venture (JV) consisting of its midstream assets in the Bakken Shale. The company will receive cash consideration of $2.675 billion from its partner, Global Infrastructure Partners