Hess Corporation Company News

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Hess: World Needs New Offshore Oil Investments to Avoid Shortages
Thursday, September 28, 2017 Higher investments in offshore oil production are critical to avoiding a supply squeeze by 2020, as expanding shale output will not match projected demand increases in the next few years, U.S. oil producer Hess Corp said.

Hess Slashes 2017 Capital Budget After Quarterly Loss
Wednesday, July 26, 2017 Hess slashes its 2017 capital budget by 4% after posting a wider-than-expected quarterly loss on low crude prices and a dip in production.

Suriname Signs Offshore Oil Deals with Exxon, Hess and Statoil
Friday, July 14, 2017 Suriname's state oil company Staatsolie said it signed production sharing contracts involving Exxon Mobil Corp, Hess Corp and Statoil ASA for two blocks off the coast of the South American nation.

Hess To Sell Permian EOR Assets To Occidental For $600 Million
Monday, June 19, 2017 Hess says it will sell its stake in enhanced oil recovery (EOR) projects in the Permian Basin of West Texas and New Mexico.

Hess Reports Smaller Loss As Oil Prices Rise, Costs Fall
Wednesday, April 26, 2017 Hess reports a smaller quarterly loss as a rise in oil prices and fall in costs helped the US oil producer offset a drop in production.

Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce
Wednesday, March 22, 2017 Top bidders included Shell Offshore, Statoil, Chevron and Hess, each offering more than $44 million for access to offshore exploration and production, according to federal records.

Oil, Gas Firms Make Global 100 Most Sustainable Corporations List
Thursday, January 19, 2017 Ten oil and gas related companies have made Corporate Knights' 2017 Global 100 Most Sustainable Corporations list.

Hess To Spend More On Exploration And Production This Year
Thursday, January 12, 2017 Hess budgets $2.25 billion for exploration and production this year, higher than the $1.9 billion it spent in 2016.

Oil Producer Hess Reports Smaller-Than-Expected Loss
Wednesday, October 26, 2016 Hess reports a smaller-than-expected quarterly loss.

Oil, Gas Companies Evacuate GOM Staff Ahead of Tropical Depression
Tuesday, August 30, 2016 Several oil and gas companies operating in the Gulf of Mexico have taken precautionary measures ahead of Tropical Depression Nine.

Malaysia's Perisai Gets 6 Months Charter Extension for FPSO Perisai Kamelia
Monday, August 22, 2016 Perisai Petroleum Teknologi extends charter for the Perisai Kamelia floating production, storage and offloading (FPSO) facility for 6 months for $31.5-$45 million.

Exxon, Chevron, Hess Said to Be in Joint Bid for Mexican Oil
Friday, August 19, 2016 ExxonMobil, Chevron and Hess have agreed to bid together for rights to drill for crude in Mexico's deepwater oil areas, according to a person with direct knowledge of the plans.

Hess Extends Perisai Pacific 101 Assignment by 54 Days for $5.3M
Monday, August 01, 2016 HESS Exploration and Production BV extends contract, worth $5.3 million, for Perisai Pacific 101 jackup by up to 54 days.

Hess Seeks Up to $40M from Schlumberger in Dispute Over Well Valve
Wednesday, July 27, 2016 Hess Corp is pursuing legal action against Schlumberger NV for as much as $40 million, claiming the oilfield service provider supplied a defective valve for a U.S. Gulf of Mexico oilfield that shuttered three wells and crimped p

With Oil Price Near $50, Resilient US Shale Producers Eye New Chapter
Monday, June 20, 2016 Two years into the worst oil price rout in a generation, large and mid-sized U.S. independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding OPEC and Saudi Arabia with their resiliency.

Big Oil's `Rock Star' in Congress Runs Rig Tours for Support
Monday, April 18, 2016 Congressman Steve Scalise is one of the oil industry's busiest tour guides in Congress.

Hess Sells Bakken Crude for Export from the US Gulf Coast to Europe
Friday, April 15, 2016 Hess Corp confirms it sold Bakken crude for export out of the US Gulf Coast to Europe, the first reported shipment of the light North Dakota oil since Congress lifted the crude export ban last December.

As Big Oil Shrinks, Boards Plot Different Paths Out Of Crisis
Tuesday, February 09, 2016 As oil and gas companies cut deeper, boards adopt contrasting strategies to lead them out of the crisis.

Hess Falls 11% on Stock Sales to Raise $1.43 Billion
Friday, February 05, 2016 Hess Corp, the New York-based oil and gas producer, says it will raise $1.43 billion from sales of stock and deposit shares after reporting its first annual loss since 2002.

Oil Producer Hess' Loss Widens on $1.36B of Impairment Charges
Wednesday, January 27, 2016 Hess Corporation reports a bigger quarterly loss due to $1.36 billion of impairment charges amid the prolonged crude price slump.

U.S. Shale Firms, Struggling to Profit with $30 Oil, Slash Spending More
Wednesday, January 27, 2016 Three major U.S. shale oil companies have slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with one of them saying prices would need to rise more than 20 percent just to turn a profit.

Hess Slashes 2016 Capital Spending 40% As Oil Sits Near $30
Tuesday, January 26, 2016 Hess says it planned to cut capital spending by 40% this year because of the sharp downturn in crude prices.

Malaysia's SapuraKencana Petroleum Clinches $117M Contracts
Friday, January 15, 2016 Malaysia's SapuraKencana Petroleum units clinch engineering and construction as well as drilling contracts amounting to around $117 million.

Report: With Oil Hedges Rolling Off, US Shale Producers Face Stiff Test
Monday, December 14, 2015 Cash-strapped U.S. shale oil producers are facing another sharp sell-off in a 18-month-old crude slump with reduced hedging protection, risking a severe hit to earnings if prices fail to recover.

Supply Chain Professionals Need to Be Transformational Change Agents
Thursday, December 10, 2015 Supply chain professionals shouldn't be afraid to question long-held ideas and practices about supply chain procurement, an official with Hess says.

Oil Companies Have Cut Back Everything Except Crude Production
Friday, October 30, 2015 A year after the bear market in crude began, oil companies have cut workers, are using fewer rigs and have less money to spend. But they're still pumping more oil.

Hess Posts 3Q Loss On Crude Price Slump, Beats Expectations
Wednesday, October 28, 2015 Hess reports an adjusted quarterly loss but beat expectations as a sharp drop in capital spending and other cost cuts helped offset a 60% slump in crude prices in the past year.

Perisai Farms-Out Contract for Perisai Pacific 101 Jackup to Hess
Monday, October 05, 2015 Perisai Offshore reaches agreement with PETRONAS Carigali and Hess to farm-out the contract for the Perisai Pacific 101 jackup to the latter for $26.9 million.

Hess Has Second-Quarter Loss as Bakken Helps Lift Oil Output
Wednesday, July 29, 2015 Hess reports its second consecutive quarterly loss as higher oil output fails to compensate for lower prices.

Analysts Outline What to Expect in Round One Bidding
Tuesday, July 14, 2015 Industry experts discuss what kind of results to expect in Mexico's Round One bidding activity and results needed for the round to be deemed a success.

Hess To Sell Half Of Bakken Midstream Assets For $2.68B
Thursday, June 11, 2015 Hess says it will sell half of its Bakken midstream assets to Global Infrastructure Partners for $2.68 billion.

ExxonMobil Discovers Oil at Stabroek Block Offshore Guyana
Wednesday, May 20, 2015 ExxonMobil makes significant oil discovery on the Stabroek Block offshore Guyana.

Hess Posts Lower-Than-Forecast Loss, Helped By Cost Cuts
Wednesday, April 29, 2015 Hess Corp. reports a quarterly loss amid plunging crude oil prices.

Hess is Mirroring Toyota Manufacturing Process to Slash Well Costs
Thursday, April 02, 2015 Hess turns to a manufacturing process developed by automaker Toyota Motor to cut costs and boost production as crude oil prices lag.

Hess, Petroceltic Pull Out of Kurdistan License
Wednesday, March 25, 2015 Petroceltic and its partner Hess have chosen to pull out of the Dinarta license in Iraqi Kurdistan after drilling difficulties.

Balance, Efficiency Key to Hess Weathering Low Oil Price Storm
Monday, February 23, 2015 Rigzone talks with Hess' Senior Vice President of Offshore Brian Truelove on the company's strategy for weathering the low oil price environment.

Hess Profit Misses Estimate As Oil Prices Slump
Wednesday, January 28, 2015 The weak results from Hess, one of the first major US oil companies to report quarterly earnings, could portend a wave of negative earnings reports across the industry.

Maersk Gets Extension from Hess for Resolute Rig
Monday, November 24, 2014 Denmark's Maersk Drilling receives an estimated $75-million extension to its contract with Hess Corporation for the Maersk Resolute rig.

Tubular Bells Starts Ringing as Production Flows
Monday, November 17, 2014 Chevron and Hess kick off production from the Tubular Bells deepwater project in the U.S. Gulf of Mexico.

Hess To Proceed With $6B US Oil Project Despite Price Dip
Wednesday, October 29, 2014 Hess says it would proceed with the development of the $6B Stampede project in the US Gulf of Mexico, one of the biggest energy investments announced during the current oil price slump.

Bakken Production Surge Boosts Hess Quarterly Profit
Wednesday, October 29, 2014 Hess posts a better-than-expected quarterly profit as production jumped and costs fell in North Dakota's booming Bakken shale formation.

North Dakota Oil Producers Resist Wholesale Safety Overhaul
Tuesday, September 23, 2014 Hess and other major North Dakota oil producers tell top state energy regulators that existing field practices used to prepare Bakken crude for rail transport are safe.

Petroceltic, Hess to Resume Oil Drilling in Iraqi Kurdistan in October
Wednesday, September 17, 2014 Oil and gas explorer Petroceltic will resume drilling in Iraqi Kurdistan together with partner Hess in early October, after operations were suspended last month at one of its wells due to security risks in the region.

Oil Exploration in Kurdistan Halted Amid Violence
Monday, August 11, 2014 Hess Corp. is latest oil firm to suspend operations in Iraqi Kurdistan, as Kurdistan Regional Government halts exploration activities near potential combat zones.

Hess To Form MLP For North Dakota Oil, Gas Transport Assets
Wednesday, July 30, 2014 Hess says it will form an MLP for its North Dakota oil and natural gas storage facilities and processing plants, taking advantage of a key financial trend in the energy sector to generate cash.

Thailand's Military Planned Reforms May Affect Upstream Sector
Tuesday, July 01, 2014 Thailand's military regime is expected to introduce energy reforms that may bring some changes to the country's upstream oil and gas sector.

HHI Bags EPCIC Contract from Hess for North Malay Basin Project
Tuesday, July 01, 2014 Hyundai Heavy Industries bags an engineering, procurement, construction, transportation, installation, hook-up and commissioning contract from Hess for the North Malay Basin Project's Bergading Complex offshore peninsular Malaysia.

SapuraKencana Bags $415M EPCIC Contracts from CPOC, Hess
Friday, June 20, 2014 SapuraKencana bags $415 million of engineering, procurement, construction installation and commissioning contracts for work offshore Malaysia and Thailand.

Hess Infrastructure Improvements Boost Production, Reduce Gas Flaring
Tuesday, June 17, 2014 Hess' infrastructure investment in North Dakota is increasing capacity while decreasing flaring.

Petroceltic Confirms New Kurd Drill as it Awaits Further Shakrok Testing
Thursday, May 08, 2014 Petroceltic International confirms that drilling on the Shireen-1 well in Iraqi Kurdistan will begin during the next month as it awaits testing results on the Shakrok well.