Hess Corp. (HES) Posts Smaller-than-Expected Q1 Loss

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Go back to Hess Corp. (HES) Posts Smaller-than-Expected Q1 Loss

Hess Reports Estimated Results for the First Quarter of 2016

April 27, 2016 7:30 AM EDT

First Quarter Highlights:

Net loss was $509 million or $1.72 per common share compared with a net loss of $389 million or $1.37 per common share in the prior-year quarter; lower realized selling prices reduced first quarter 2016 after-tax results by approximately $230 million Oil and gas production was 350,000 barrels of oil equivalent per day (boepd) compared to pro forma production, which excludes assets sold, of 355,000 boepd in the first quarter of 2015 E&P capital and exploratory expenditures were $544 million, down 56 percent from $1,244 million in the prior-year quarter... More