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Hess Corp (HES.N)

HES.N on New York Stock Exchange

64.66USD
18 May 2018
Change (% chg)

$-0.51 (-0.78%)
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Latest Key Developments (Source: Significant Developments)

Omega Advisors Takes Share Stake In UnitedHealth, Bristol-Myers Squibb
Tuesday, 15 May 2018 

May 15 (Reuters) - Omega Advisors::OMEGA ADVISORS DISSOLVES SHARE STAKE IN AMERICAN AIRLINES - SEC FILING.OMEGA ADVISORS TAKES SHARE STAKE IN BRISTOL-MYERS SQUIBB OF 468,000 SHARES - SEC FILING.OMEGA ADVISORS TAKES SHARE STAKE IN UNITEDHEALTH GROUP OF 196,300 SHARES - SEC FILING.OMEGA ADVISORS TAKES SHARE STAKE IN THERMO FISHER SCIENTIFIC OF 207,400 SHARES - SEC FILING.OMEGA ADVISORS UPS SHARE STAKE IN OCWEN FINANCIAL TO 14.7 MILLION SHARES FROM 11.1 MILLION SHARES - SEC FILING.OMEGA ADVISORS UPS SHARE STAKE IN HRG GROUP TO 2.1 MILLION SHARES FROM 857,100 SHARES - SEC FILING.OMEGA ADVISORS CUTS SHARE STAKE IN HESS CORP TO 1.4 MILLION SHARES FROM 1.7 MILLION SHARES - SEC FILING.OMEGA ADVISORS UPS SHARE STAKE IN NABORS INDUSTRIES TO 8.3 MILLION SHARES FROM 6.7 MILLION SHARES -SEC FILING.OMEGA ADVISORS - CHANGE IN HOLDINGS ARE AS OF MARCH 31, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF DEC 31, 2017.  Full Article

Hess Expects Guyana Project To Be Cash Flow Positive By 2022
Wednesday, 25 Apr 2018 

April 25 (Reuters) - Hess Corp ::CHIEF EXECUTIVE JOHN HESS SAYS FIRST PRODUCTION IN GUYANA LIZA 1 PROJECT STILL EXPECTED BY 2020.CEO SAYS FIRST PRODUCTION IN GUYANA LIZA 2 PROJECT EXPECTED BY 2022.CEO SAYS FIRST PRODUCTION IN GUYANA PACORA PROJECT EXPECTED BY 2023.SAYS STILL EXPECTS 2018 COMPANY-WIDE PRODUCTION OF 245,000 TO 255,000 BPD.SAYS WILL ADD THIRD FRACK CREW TO BAKKEN BY END OF YEAR.SAYS EXPECTS Q2 BAKKEN PRODUCTION OF 115,000 BPD.SAYS EXPECTS Q2 U.S. GULF OF MEXICO PRODUCTION OF 45,000 TO 50,000 BPD.SAYS SALE PROCESS FOR DENMARK ASSETS IS 'ONGOING,' DECLINES TO SAY MORE.DECLINES TO DIRECTLY COMMENT ON REPORTS TOTAL <<>> - MARATHON OIL <<>> DEAL FOR LIBYA STAKE IS IMPERILED, SAYS GENERALLY 'WE'RE ALWAYS LOOKING TO HIGH-GRADE AND OPTIMIZE OUR PORTFOLIO'.SAYS 'PRETTY CONFIDENT' CAN MEET 2018 GOALS WITH MINIMUM COST INFLATION.SAYS EXPECTS ITS GUYANA INVESTMENT TO START GENERATING CASH AFTER SECOND PHASE COMES ONLINE IN 2022.SAYS DOESN'T INTEND TO ISSUE NEW DEBT TO FUND GUYANA PROJECT OR ANY OTHER PROJECTS.CEO SAYS WANTS COMPANY TO BE CASH-FLOW POSITIVE BEFORE CONSIDERING RAISING DIVIDEND.  Full Article

Hess Reports Q1 Adjusted Loss Per Share Of $0.27
Wednesday, 25 Apr 2018 

April 25 (Reuters) - Hess Corp ::HESS REPORTS ESTIMATED RESULTS FOR THE FIRST QUARTER OF 2018.Q1 ADJUSTED LOSS PER SHARE $0.27.Q1 LOSS PER SHARE $0.38.INCREASED OUR SHARE REPURCHASE PROGRAM BY $1.0 BILLION TO A TOTAL OF $1.5 BILLION, WHICH IS EXPECTED TO BE COMPLETED BY YEAR-END.QTRLY NET PRODUCTION AVERAGED 233,000 BARRELS OF OIL EQUIVALENT PER DAY EXCLUDING LIBYA.QTRLY NET PRODUCTION FROM BAKKEN UP 12 PERCENT TO 111,000 BOEPD FROM 99,000 BOEPD IN THE YEAR-AGO QUARTER.QTRLY NET PRODUCTION FROM GULF OF MEXICO 41,000 BOEPD VERSUS 66,000 BOEPD IN PRIOR-YEAR QUARTER.QTRLY TOTAL REVENUES AND NON-OPERATING INCOME $1,390 MILLION VERSUS $1,275 MILLION REPORTED LAST YEAR.Q1 EARNINGS PER SHARE VIEW $-0.49, REVENUE VIEW $1.17 BILLION -- THOMSON REUTERS I/B/E/S.EXPLORATION & PRODUCTION CAPITAL AND EXPLORATORY EXPENDITURES WERE $384 MILLION IN QUARTER, COMPARED TO $393 MILLION IN PRIOR-YEAR QUARTER.Q1 2018 RESULTS INCLUDED NET AFTER-TAX SEVERANCE CHARGE OF $37 MILLION RELATED TO PREVIOUSLY DISCLOSED COST REDUCTION PROGRAM.  Full Article

Hess Corp Calls Outstanding Notes Due In 2019 For Redemption
Wednesday, 17 Jan 2018 

Jan 16 (Reuters) - Hess Corp ::HESS CORPORATION CALLS OUTSTANDING NOTES DUE IN 2019 FOR REDEMPTION.HESS CORP - ‍IT WILL REDEEM ALL OF ITS 8.125% NOTES DUE FEB. 15, 2019 , OF WHICH $349.6 MILLION PRINCIPAL AMOUNT IS OUTSTANDING AS OF JAN. 16, 2018​.HESS CORP - ‍HESS INTENDS TO USE CASH ON HAND TO FUND REDEMPTION OF NOTES​.HESS CORP - ‍NOTES WILL BE REDEEMED ON FEBRUARY 15, 2018​.  Full Article

Oil firm Aker BP completes takeover of Hess' Norway unit
Friday, 22 Dec 2017 

Dec 22 (Reuters) - Aker Bp Asa ::ACQUISITION OF HESS NORGE COMPLETED.‍ALL CLOSING CONDITIONS HAVE BEEN FULFILLED, AND CLOSING OF TRANSACTION TOOK PLACE ON 22 DECEMBER 2017​.  Full Article

Elliott seeks to remove John Hess as CEO Of Hess Corp - CNBC, citing Dow Jones ‍​
Friday, 15 Dec 2017 

Dec 14 (Reuters) - :ELLIOTT SEEKS TO REMOVE JOHN HESS AS CEO OF HESS CORP. OR GET HIM TO CONSIDER SALE; ALSO SEEKS DIVIDEND CUT, MORE BUYBACKS - CNBC, CITING DOW JONES ‍​.  Full Article

Hess Corp Says Co,Certain Units Amended & Restated Existing 5-Year Credit Agreement Dated As Of Jan 21, 2015
Friday, 8 Dec 2017 

Dec 8 (Reuters) - Hess Corp ::HESS CORP - ON DEC 1 CO,CERTAIN UNITS AMENDED & RESTATED EXISTING 5-YEAR CREDIT AGREEMENT DATED AS OF JANUARY 21, 2015 - SEC FILING.HESS SAYS AGREEMENT PROVIDES FOR UP TO $4 BILLION UNTIL JAN 21, 2020, EXTENDS UPTO $3.7 BILLION OF COMMITMENTS FOR 1-YEAR PERIOD UNTIL JAN 21, 2021.  Full Article

Hess issues statement on impact from incident at Shell Enchilada platform in Gulf of Mexico
Monday, 13 Nov 2017 

Nov 13 (Reuters) - Hess Corp :Hess issues statement on impact from incident at shell enchilada platform in gulf of Mexico.Hess Corp - ‍Hess production is shut in at its Baldpate, Conger and Penn State fields​.Hess Corp - ‍all production coming into garden banks gas pipeline system also remains shut in until further notice​.Hess Corp - ‍production is also shut in at Shell-operated Llano field​.Hess Corp - ‍released statement about impact on its operations resulting from fire at Shell Enchilada platform in Gulf of Mexico​.Hess Corp - ‍Hess production at Baldpate, Conger, Llano and Penn State​ fields is approximately 30 thousand barrels of oil equivalent per day.  Full Article

Exxon aims to boost Permian output 45 pct/year through 2020
Friday, 27 Oct 2017 

Oct 27 (Reuters) - Exxon Mobil Corp :Says no plans to make any share repurchases in Q4.Says will grow Permian rig count to 30 - from 20 currently - by end of 2018.Says will drill first 3-mile lateral in Permian by end of year.Says Permian production will grow 45 percent per year through 2020.Says expects 2018 capital budget 'in the general ballpark' of about $25 billion.Says considering two more phases of Guyana project given recent success in oil project there.  Full Article

Hess reports Q3 adj loss per share of $1.07
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Hess Corp :Hess reports estimated results for the third quarter of 2017.Q3 adjusted loss per share $1.07.Q3 loss per share $2.02.Hess - qtrly ‍net production from Bakken of 103,000 boepd was impacted by reduced field availability due to adverse weather, delays in completing new wells​.Hess Corp - qtrly ‍net production from Gulf of Mexico was 59,000 boepd, compared to 61,000 boepd in prior-year quarter​.Hess Corp qtrly ‍total production was 299,000 barrels of oil equivalent per day (boepd), excluding Libya​.Hess Corp - qtrly total revenues and non-operating income $‍1,666 million versus $1,196 million last year.Q3 earnings per share view $-1.29, revenue view $1.27 billion -- Thomson Reuters I/B/E/S.Hess - ‍Q4 production will be negatively impacted by hurricane-related downtime and expected lower entitlement at JDA as temporary adjustment reverses​.Hess - ‍Q3 results include after-tax gain attributable to stockholders of $280 million associated with sale of enhanced oil recovery assets in Permian Basin​.Hess Corp - ‍E&P Q3 results include noncash after-tax charge of $550 million to impair carrying value of our assets in Norway as result of expected sale​.  Full Article

BRIEF-Hess Corp CEO John Hess's Total Compensation For FY 2017 Was $14.6 Million

* HESS CORP SAYS CEO JOHN HESS'S TOTAL COMPENSATION FOR FY 2017 WAS $14.6 MILLION VERSUS $11.7 MILLION IN FY 2016 - SEC FILING