February 5, 2018 / 4:36 PM / 19 days ago

BRIEF-Hess Corp CEO Defends Quarterly Dividend

Feb 5 (Reuters) - Hess Corp:

* CHIEF EXECUTIVE JOHN HESS SAYS NORTH DAKOTA AND GUYANA ARE ‘GROWTH ENGINES’ FOR COMPANY

* SAYS MALAYISA AND U.S. GULF OF MEXICO ARE ‘CASH ENGINES’ FOR COMPANY

* CEO SAYS EXPECTS CAN GROW CASH FLOW MORE THAN 20 PERCENT PER YEAR AT $50 OIL PRICE THROUGH 2020

* CEO SAYS BAKKEN OUTPUT SHOULD HIT 175,000 BOE/D BY 2021

* CEO FORECASTS 2018 BAKKEN OUTPUT OF 115,000 TO 120,000 BOE/D

* SAYS WILL ADD FIFTH RIG IN BAKKEN IN Q3 AND SIXTH RIG IN Q4

* SAYS WILL DRILL 120 BAKKEN WELLS THIS YEAR, BRING 95 ONLINE

* SAYS EXPECTS 2018 NET PRODUCTION FROM U.S. GULF OF MEXICO OPERATIONS AT ABOUT 50,000 BOE/D

* SAYS ‘EVALUATING OPTIONS TO MONETIZE GHANA ASSET’

* EXPECTS ‘SIGNIFICANT CASH FLOW’ FROM MALAYSIAN ASSETS IN 2018

* EXPECTS CASH FLOW IN NORTH DAKOTA TO DIP IN 2018 AS SPENDS MORE TO ADD RIGS

* CEO SAYS NO PLANS TO SELL PART OF STAKE IN GUYANA PROJECT: ‘IT WOULD NOT BE THE RIGHT THING FOR SHAREHOLDERS’

* CEO DEFENDS QUARTERLY DIVIDEND, SAYS A ‘NUMBER OF SHAREHOLDERS PUT A HIGH DEGREE OF IMPORTANCE ON DIVIDEND’ Source text for Eikon: Further company coverage: (Reporting By Ernest Scheyder)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below