$HES (Hess Corporation)

$HES {{ '2015-07-01T17:52:43+0000' | timeago}} • Announcement

$HES General Update: Completed announced sale of 50% interest in Bakken midstream assets to Global Infrastructure Partners for $2.675Bil. As planned, Hess and Global Infrastructure Partners have created a premier midstream joint venture, Hess Infrastructure Partners which has incurred $600MM of debt through a 5-year Term Loan A facility.

$HES {{ '2017-06-19T13:41:08+0000' | timeago}} • Announcement

$HES agreed to sell its interests in enhanced oil recovery (EOR) assets in the Permian Basin to $OXY for a total consideration of $600MM, effective June 1, 2017. Proceeds from the sale will be used to fund the company's strong growth opportunities. The agreement is expected to close Aug. 1, 2017.

$HES {{ '2017-06-16T14:21:35+0000' | timeago}} • Announcement

$HES announced it has sanctioned the first phase of development of the Liza Field, one of the industry’s largest oil discoveries of the past decade, located on the Stabroek Block offshore Guyana.

$HES {{ '2017-06-16T12:51:20+0000' | timeago}} • Announcement

Energy company $HES said it has sanctioned the phase-1 development of Liza Field located offshore Guyana. The company also announced positive results from the Liza-4 well. Gross discovered recoverable resources for the Stabroek Block, which includes Liza, are currently estimated to be 2-2.5Bil barrels of oil equivalent.

$HES {{ '2017-06-07T13:13:10+0000' | timeago}} • Announcement

The BoD of $HES declared a quarterly cash dividend of $20 per share on its 8% Series A Mandatory Convertible Preferred Stock, which is equivalent to $1.00 per depositary share, each representing 1/20th interest in a share of Series A preferred stock. The dividend is payable on Aug. 1, 2017 to holders of record on July 15, 2017.

$HES {{ '2017-06-07T13:00:17+0000' | timeago}} • Announcement

The BoD of $HES declared a regular quarterly dividend of 25 cents per share on its common stock. The dividend is payable on June 30, 2017 to shareholders of record on June 16, 2017.

$HES {{ '2017-04-26T15:43:44+0000' | timeago}} • Webcast

$HES is seeing some upward pressure on costs in the Bakken in the completion space and it is taking steps to minimize this. $HES is locking in the rig rates and pre-purchasing sand along with putting in place longer-term contracts both on the rigs and the pumping side. These steps should help deliver the 2017 program with minimal inflation.

$HES {{ '2017-04-26T15:21:19+0000' | timeago}} • Webcast

$HES has $275MM of capital budgeted for the North Malay Basin and $425MM for Stampede, which is a total of $700MM of capital associated with these two assets for 2017. In 2018, the capital will go down for those assets combined plus cash flow will go up.

$HES {{ '2017-04-26T15:14:18+0000' | timeago}} • Webcast

$HES is forecasting Capex in 2Q17 through 4Q17 to be higher than the 1Q17 levels. $HES is going to ramp up rigs in the Bakken from two rigs at the beginning of 2017 to six at 2017-end. The company is also forecasting an increased spend mid-year as it gets closer to the North Malay Basin startup in 3Q17. Capex is expected to be $2.25Bil for 2017.

$HES {{ '2017-04-26T12:16:27+0000' | timeago}} • Announcement

$HES' E&P capital and exploratory expenditures were down 28% at $393MM in 1Q17, reflecting the reduced work program in response to the low commodity price environment.

$HES {{ '2017-04-26T12:15:17+0000' | timeago}} • Announcement

$HES reported that pro forma net production, excluding Libya, was 307,000  barrels of oil equivalent per day (boepd) in 1Q17 compared to 350,000 boepd a year ago. Production volume was hurt by a reduced drilling program across the portfolio, natural field declines and lower entitlement in Asia.

$HES {{ '2017-04-26T12:10:17+0000' | timeago}} • Announcement

$HES reported a lower loss in 1Q17, helped by the higher realized crude oil selling prices and lower costs. Net loss was $324MM or $1.07 per share compared with a net loss of $509MM or $1.72 per share in the year ago quarter. Total revenues and non-operating income improved 28% to $1.28Bil.

$HES {{ '2017-03-27T14:19:48+0000' | timeago}} • Announcement

$HES said Hess Midstream Partners LP commenced its initial public offering of 12.5MM common units representing limited partner interests in the Partnership, at an expected IPO price between $19 and $21 per common unit. The common units are expected to trade on the NYSE under "$HESM" ticker.

$HES {{ '2017-03-02T13:29:13+0000' | timeago}} • Announcement

$HES declared a quarterly cash dividend of $20 per share on the $HES.PRA 8.00% Series A Mandatory Convertible Preferred Stock. The dividend is payable on May 1, 2017, to holders of record at the close of business on April 15, 2017.

$HES {{ '2017-03-02T13:26:48+0000' | timeago}} • Announcement

Oil and gas explorer $HES announced a quarterly dividend of $0.25 per share payable on March 31, 2017, to holders of record at business close on March 15, 2017.

$HES {{ '2017-01-25T13:44:33+0000' | timeago}} • Announcement

During FY17, $HES expects its E&P capital and exploratory expenditures are expected to be about $2.25Bil, up from $1.9Bil in FY16. Oil and gas production excluding Libya is expected to be in the range of 300,000 to 310,000 boepd compared to FY16 net production of 321,000 boepd.

$HES {{ '2017-01-25T13:38:29+0000' | timeago}} • Announcement

Energy company $HES posted a 4Q16 net loss of $4.89Bil, or $15.65 per share compared with net loss of $1.82Bil, or $6.43 per share during 4Q15. Adjusted net loss narrowed to $1.01 per share during the quarter.

$HES {{ '2017-01-12T16:20:24+0000' | timeago}} • Announcement

$HES said its 2017 E&P capital and exploratory budget will be $2.25Bil, compared to its 2016 actual spend of $1.9Bil. This includes increased capital for additional rigs in the Bakken, development activities at the world-class Liza Field in Guyana and restart of drilling at the Valhall Field in Norway.

$HES {{ '2017-01-12T16:19:35+0000' | timeago}} • Announcement

$HES said its 4Q16 results will also include additional after-tax charges affecting comparability of earnings of about $140MM for rig exit costs, loss on debt extinguishment, impairment of rail cars, severance and other charges.

$HES {{ '2017-01-12T16:18:27+0000' | timeago}} • Announcement

$HES said its 4Q16 results will include noncash charge of about $3.8Bil to establish valuation allowances against net deferred tax assets as of Dec. 31, 2016, as required under accounting standards following 3-year cumulative loss. The 4Q results will include after-tax charge of about $700MM to fully impair the carrying value of interests in Equus.

$HES {{ '2016-12-08T11:57:01+0000' | timeago}} • Announcement

$HES' BoD declared a regular quarterly dividend of 25 cents per share on its common stock. The dividend is payable on Dec. 30, 2016 to shareholders of record on Dec. 19, 2016.

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