Exxon Confident Its Intent in Writing Guyana Contract to Prevail [BNN Bloomberg (Canada)]
Hess Corporation (HES)
Last hess corporation earnings: 1/29 07:30 am
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Source: BNN Bloomberg
Exxon, which operates and owns 45% of a deepwater oil block in Guyana's known as Stabroek, is accusing Chevron of attempting to circumvent a right-of-first-refusal provision through its $53 billion deal to buy Hess Corp. and its 30% stake. Chevron has countered that the provision doesn't apply to a corporate merger and is “confident” it will win the dispute. “We certainly have strong feelings that we're right,” said Exxon Senior Vice President Jack Williams, one of three top executives that oversee company operations with Chief Executive Officer Darren Woods. Chevron “has strong feelings they're right as well, so it'll be an interesting arbitration,” Williams said in an interview at the Leading the Way: Sustainable Aviation Fuel conference in Illinois on Friday. “But we did write it, so we have a view of what was intended.” In a separate move, Cnooc Ltd., which also owns a stake in the Guyanese trove, confirmed that it also has also filed for arbitration against Chevron. Exxo
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HES
News
- Hess sets May 28 shareholder vote on Chevron buyout [Reuters]Reuters
- Exxon, Chevron fall as first-quarter earnings miss estimates [BNN Bloomberg (Canada)]BNN Bloomberg
- Chevron reports Q1 profit beat [Yahoo! Finance]Yahoo! Finance
- Hess (HES) Q1 Earnings Beat on Higher Production Volumes [Yahoo! Finance]Yahoo! Finance
- Transocean (RIG) Prolongs Its Stay With Hess and TotalEnergies [Yahoo! Finance]Yahoo! Finance
HES
Earnings
- 4/25/24 - Beat
HES
Sec Filings
- 4/26/24 - Form DEFM14A
- 4/25/24 - Form 8-K
- 4/10/24 - Form SC
- HES's page on the SEC website