Hess Corporation – Page 4

Hess unveils US$2.6B budget for 2022; majority to be invested in Guyana, Bakken

January 26, 2022

Oil Now U.S. energy company Hess Corporation revealed on Monday that it has allocated a whopping US$2.6B towards its 2022 Exploration and Production budget. Interestingly, the American explorer said the majority of this expenditure will go towards projects in Guyana and the Bakken. Hess said the $2.6 billion budget is allocated as follows: US$1,150 million (44%) for production, US$1,000 million (39%) for offshore Guyana developments and US$450 million (17%) for exploration and

Hess beats profit estimates on surging crude and gas prices

October 27, 2021

Reuters U.S. oil producer Hess Corp on Wednesday reported a better-than-expected quarterly profit, as soaring prices for crude and gas cushioned the hit from lower production. Shale producers in the United States are poised to deliver their strongest earnings since the onset of the COVID-19 pandemic as prices for oil and gas have sky rocketed. U.S. crude averaged roughly $71

Hess reports estimated results for the second quarter of 2021

July 28, 2021

Key Developments: Announced a significant new oil discove…

Kaieteur Block – Cataleya Energy Ltd. 5% farm-down to Hess Corporation

May 25, 2021

Westmount Energy release Westmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF), is pleased to note the announcement by Ratio Petroleum Energy Limited Partnership (“Ratio Petroleum”) yesterday, that Hess Corporation (“Hess”) has increased its working interest (“WI”) in the Kaieteur Block, offshore Guyana, from 15% to 20%. This increase in Hess Corporation’s Kaieteur Block WI has occurred on the back

Hess completes sale of non strategic interests in Bakken acreage

May 3, 2021

Hess Corporation (NYSE: HES) announced today that it has completed the previously annou…

Hess Reports estimated results for the first quarter of 2021

April 28, 2021

Key Developments: Announced an oil discovery at Uaru-2 on the Stabroek Bl…

Oil executives say demand will rise, despite emphasis on renewables

March 1, 2021

Reuters NEW YORK – Oil demand is expected to rise over the next decade and the fossil fuel will remain to be a crucial part of the energy mix, even as renewables draw increasing attention, Hess Corp Chief Executive John Hess said at CERAWeek on Monday. At the biggest gathering of top energy leaders, investors and politicians from around the

Exclusive: Elliott Management invests in small Guyana oil explorer – sources

November 24, 2020

Reuters NEW YORK/LONDON – Activist hedge fund Elliott Management Corp has invested at least $30 million in Cataleya Energy, a small firm focused on oil exploration in Guyana, the world’s newest oil and gas hot spot, two people familiar with the matter said. The deal reflects rising interest in Guyana, a small South American country of 750,000 whose oil discoveries

Hess posts bigger-than-expected loss, cuts annual production forecast

October 28, 2020

Reuters U.S. oil and gas producer Hess Corp HES.N reported a bigger-than-expected quarterly loss on Wednesday and slightly lowered its full year production forecast, as its operations were hit by hurricanes in the Gulf of Mexico and lower production in South East Asia, sending its shares down 3.1% in early trade. The company and its peers have lowered capital spending this year

Guyana’s new government makes plans for more demands on ExxonMobil

August 20, 2020

Forbes With the newly-elected People’s Progressive Party/Civic (PPP/C) government now firmly in place following five months of vote-counting controversy, Guyanese President Irfaan Ali and his Vice President, Bharrat Jagdeo, have recently turned the discussion over the country’s offshore oil developments to proposals to require oil and gas operators to invest in local content as a part of their ongoing license to operate.

Hess posts smaller-than-expected loss on higher output, lower costs

July 29, 2020

Reuters U.S. oil and gas producer Hess Corp reported a smaller-than-expected quarterly loss on Wednesday, as higher output and lower costs helped offset a plunge in oil prices due to the coronavirus crisis, sending its shares 3% higher. Crude prices sank to historic lows in April as demand plummeted due to the COVID-19 pandemic and a price war between the

Hess deepens spending cuts, posts quarterly loss on virus-fueled oil rout

May 7, 2020

Reuters U.S. oil and gas producer Hess Corp on Thursday introduced deeper spending cuts after reporting a quarterly loss due to impairment charges of $2.25 billion on some oil-producing assets amid the coronavirus crisis. Stay-at-home orders designed to contain the coronavirus pandemic have forced businesses to shut down, cutting worldwide demand for oil and creating a supply glut. U.S. crude

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