Hess Corporation Company News

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Global Oil, Gas Discoveries Hit Four-Year High in 2019
Thursday, February 06, 2020 2019 was the best since 2015 for new hydrocarbon supplies.

Hess Announces $3 Billion 2020 E&P Budget
Wednesday, January 29, 2020 More than 80 percent of the funds will be focused on projects in Guyana and the Bakken.

Exxon Marks Stabroek Sweet 16
Monday, January 27, 2020 ExxonMobil, operator of the Stabroek Block offshore Guyana, on Monday reported an oil discovery at the Uaru exploration well, located near the producing Liza field.

Guyana Becomes Oil Producer
Monday, December 23, 2019 Exxon Mobil Corp. and partners Hess Corp. and CNOOC Limited reported that the Liza field in the Stabroek Block offshore Guyana has achieved first oil.

Exxon Hits More Oil Pay Offshore Guyana
Monday, December 23, 2019 Exxon Mobil Corp. and Hess Corp. Monday reported another oil discovery offshore Guyana at the Mako-1 well southeast of the Liza Field.

Hess Hits Oil Pay Near Tubular Bells
Tuesday, October 29, 2019 Operator Hess holds a 57.14-percent stake in Esox, with Chevron U.S.A. Inc. owning the remainder.

Pioneering FPSO Reaches Offshore Guyana Block
Friday, August 30, 2019 The Liza FPSO concludes its journey from Singapore. PHOTO SOURCE: Hess Corp.

Oil CEOs at Davos See Market Rebalancing
Wednesday, January 23, 2019 The oil market is gradually returning to balance as OPEC reins in output and the US shale boom slows, according to executives gathered at Davos.

Hess Market Cap Plunges $1.5B
Monday, December 24, 2018 Hess tumbled the most in almost three years, wiping out $1.5 billion in market valuation.

Hammerhead-1 Strikes Offshore Guyana
Thursday, August 30, 2018 The hits keep on coming offshore Guyana, where ExxonMobil, Hess and CNOOC's Nexen unit have made their ninth discovery.

Hess Loss Shrinks As Higher Oil Prices Offset Falling Output
Wednesday, July 25, 2018 Hess posts a smaller-than-expected quarterly loss, as higher crude prices offset an unexpected drop in production.

Offshore Guyana Block Could Require Five FPSOs
Monday, July 23, 2018 The estimated recoverable resources for the Stabroek Block offshore Guyana has risen by at least 25%.

Hess Sets Sights Away from Utica
Friday, June 29, 2018 Hess has entered an agreement to sell its joint venture interests in the Utica shale play in eastern Ohio to Ascent Resources – Utica, LLC.

US Oil Pipeline Companies, Producers Seek Relief From Steel Tariffs
Tuesday, June 19, 2018 Major US energy companies are among many seeking exemptions from steel-import tariffs as the US ratchets up trade tensions.

Hess Posts Smaller Loss On Cost Cuts, Rising Oil Prices
Wednesday, April 25, 2018 Hess reports its 14th consecutive quarterly loss.

ExxonMobil, Hess Strike Lucky No. 7 Offshore Guyana
Wednesday, February 28, 2018 Latest discovery to help propel offshore Guyana production past half a million barrels per day mark.

Hess Posts 13th Straight Quarterly Loss; Shares Dive
Monday, February 05, 2018 Hess posts its 13th straight quarterly loss as ballooning expenses offset rising crude prices, sending shares down nearly 5%.

Hess Cutting Hundreds of Workers As It Battles Activist Investor
Tuesday, January 16, 2018 Hess Corp is cutting roughly 13 percent of its workforce.

ExxonMobil Reports More Offshore Guyana Success
Friday, January 05, 2018 Ranger-1 is sixth in string of world-class discoveries offshore South American country.

About 75,000 Bpd Of Gulf Oil Output Still Shut After Shell Fire
Wednesday, November 15, 2017 A combined 75,206 barrels per day of oil and 215,122 million cubic feet per day of natural gas production are shut-in.

Hess Shares Fall After Fourth-Quarter Forecast Slashed
Wednesday, October 25, 2017 Hess cut its 4Q production forecast after reporting lower-than-expected output in its largest area of operations, sending its shares down more than 5%.

Aker BP Buys Hess' Norway Unit For $2B
Tuesday, October 24, 2017 Aker BP will add the Norwegian operations of Hess to its expanding exploration and production portfolio under a $2 billion deal.

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.