UPDATE 1-Hess profit jumps on Guyana output in positive sign for Exxon [Yahoo! Finance]
Hess Corporation (HES)
Last hess corporation earnings: 1/29 07:30 am
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Source: Yahoo! Finance
Hess Corp on Thursday reported first-quarter earnings well above analysts' forecasts, driven by a 28% increase in Guyana oil output, a sign Exxon Mobil's results out Friday could also top forecasts. Last October, Hess agreed to sell itself to Chevron for $53 billion in stock, but the deal has been stalled by a regulatory review and challenged by Exxon, which claims a right to Hess's Guyana assets. Hess and Chevron dispute Exxon's claim, now before an arbitration panel. Hess's production rose 27% to 476,000 barrels of oil and gas per day (boepd), on a 70% year-over-year increase in Guyana to 190,000 bpd. Its Bakken shale output also rose, the company said. The company posted higher than expected production in Guyana on much lower than forecast spending, analysts said. The results indicated that the consortium's three offshore production vessel were pumping near or at capacity, a positive sign for Exxon results. Hess share traded up a fraction at $159.29 in morning trade even a
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HES
News
- Hess Co. (NYSE: HES) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Hess (HES) is an Incredible Growth Stock: 3 Reasons Why [Yahoo! Finance]Yahoo! Finance
- Nordic American Tankers Full Year 2023 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Exxon To Win FTC Approval For $60 Billion Pioneer Deal, Creating Energy Supergiant [zero hedge]zero hedge
- Exxon Set to Win FTC Approval for Pioneer Deal on Settlement [BNN Bloomberg (Canada)]BNN Bloomberg
HES
Earnings
- 4/25/24 - Beat
HES
Sec Filings
- 5/2/24 - Form 425
- 5/2/24 - Form 8-K
- 4/29/24 - Form 425
- HES's page on the SEC website