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Hess Corp (HES.N)

HES.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Hess Q2 Loss Per Share $0.48
Wednesday, 25 Jul 2018 

July 25 (Reuters) - Hess Corp ::HESS REPORTS ESTIMATED RESULTS FOR THE SECOND QUARTER OF 2018.Q2 ADJUSTED LOSS PER SHARE $0.23.Q2 LOSS PER SHARE $0.48.QTRLY NET PRODUCTION FROM BAKKEN INCREASED SIX PERCENT TO 114,000 BOEPD FROM 108,000 BOEPD IN YEAR-AGO QUARTER.QTRLY NET PRODUCTION, EXCLUDING LIBYA, WAS 247,000 BOEPD IN Q2 OF 2018, COMPARED TO 294,000 BOEPD IN PRIOR-YEAR QUARTER.QTRLY NET PRODUCTION FROM GULF OF MEXICO WAS 47,000 BOEPD, COMPARED TO 51,000 BOEPD IN PRIOR-YEAR QUARTER.QTRLY TOTAL REVENUES AND NON-OPERATING INCOME $1.57 BILLION VERSUS $1.20 BILLION.SAYS FULL YEAR PRODUCTION GUIDANCE, EXCLUDING LIBYA, CONTINUES TO BE 245,000 BOEPD TO 255,000 BOEPD.SAYS E&P CAPITAL AND EXPLORATORY EXPENDITURES WERE $525 MILLION IN Q2 OF 2018, COMPARED TO $528 MILLION IN PRIOR-YEAR QUARTER.Q2 REVENUE VIEW $1.38 BILLION -- THOMSON REUTERS I/B/E/S.Q2 EARNINGS PER SHARE VIEW $-0.29 -- THOMSON REUTERS I/B/E/S.  Full Article

CNX Announces Deal To Sell Ohio Utica JV Assets For $400 Mln
Friday, 29 Jun 2018 

June 29 (Reuters) - CNX Resources Corp ::PRESS RELEASE - CNX ANNOUNCES AGREEMENT TO SELL OHIO UTICA JOINT VENTURE ASSETS FOR $400 MILLION.CNX RESOURCES SAYS AS A RESULT OF TRANSACTION, CNX EXPECTS TO RECORD A NON-CASH GAIN OF APPROXIMATELY $135 MILLION IN Q3 2018.CNX RESOURCES SAYS DOES NOT EXPECT TO PAY TAXES ON TRANSACTION DUE TO UTILIZATION OF EXISTING NET OPERATING LOSSES.CNX RESOURCES- SEES DIVESTITURE RESULTING IN 10 BCFE REDUCTION TO 2018 PRODUCTION OUTLOOK BASED ON OHIO WET UTICA VOLUMES PLANNED FROM Q3 CLOSE DATE TO YEAR END.CNX RESOURCES - FULL-YEAR 2018 PRODUCTION GUIDANCE IS EXPECTED TO BE 490-515 BCFE, COMPARED TO PREVIOUS GUIDANCE OF 500-525 BCFE.CNX RESOURCES -FOR 2019, 2020, DIVESTITURE EXPECTED TO REDUCE TOTAL PRODUCTION VOLUMES BY 20-25 BCFE, ADJUSTED EBITDAX TO SHAREHOLDERS BY $25-$35 MILLION.CNX RESOURCES SAYS EXPECTS REDUCTION OF ABOUT $15 MILLION TO 2018 EBITAX ATTRIBUTABLE TO CNX SHAREHOLDERS, OR $810-$835 MILLION, VERSUS PREVIOUS GUIDANCE.  Full Article

Hess Announces $400 Mln Sale Of Utica Acreage
Friday, 29 Jun 2018 

June 29 (Reuters) - Hess Corp ::HESS ANNOUNCES SALE OF UTICA ACREAGE.HESS CORP - DEAL FOR APPROXIMATELY $400 MILLION.HESS CORP - DEAL FOR NET CASH CONSIDERATION OF APPROXIMATELY $400 MILLION.HESS CORP - DIVESTITURE CONSISTS OF APPROXIMATELY 39,000 NET ACRES INCLUDING 26,000 NET UNDEVELOPED ACRES.HESS CORP - HESS HOLDS A 50 PERCENT WORKING INTEREST AS PART OF A JOINT VENTURE WITH CNX RESOURCES.HESS CORP - DECIDED TO RETAIN INTERESTS IN DENMARK, WHERE COMPANY HOLDS A 61.5 PERCENT INTEREST IN SOUTH ARNE FIELD AND IS OPERATOR.HESS CORP - OFFERS RECEIVED IN A PREVIOUSLY ANNOUNCED DENMARK SALE PROCESS DID NOT MEET COMPANY'S VALUE EXPECTATIONS.HESS CORP - IN NORMAL COURSE OF BUSINESS, COMPANY WILL CONTINUE TO LOOK AT STRATEGIC OPTIONS FOR DENMARK ASSET.  Full Article

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

UPDATE 3-Hess loss shrinks as higher oil prices offset falling output

July 25 U.S. oil and gas producer Hess Corp posted a smaller-than-expected quarterly loss on Wednesday, as higher crude prices offset an unexpected drop in production.