Fox Business - The Power to Prosper
Search Site

Hess Corp.

Hess Profit Jumps After Asset Sales, Production Lags

Oil and natural gas producer Hess Corp posted a jump in quarterly profit on Wednesday due in part to one-time gains from the sale of energy terminals and other assets, but production fell.For the fourth quarter, Hess reported net income of $1.93 billion, or $5.76 per share, compared with $374 million, or $1.10 per share, a year earlier.The company produced 307,000 barrels of oil equivalent per day in the quarter, down from 396,000 boe/d in the same period last year....

Read More

  1. The Bakken shale revolution up close

    Editor's Note: Split Rock portfolio manager Tyler Kocon manages the Covestor Bakken Shale Portfolio, which invests in companies with exposure to the North American s...

  2. Activism in energy sector creates obstacles for M&A

    When hedge fund TPG-Axon launched its activist campaign at U.S. oil and gas company SandRidge Energy Inc last year, the activist investor laid out hopes that the com...

  3. Exxon, Shell advance in Newfield's Asia auction: sources

    Energy majors Exxon Mobil Corp and Royal Dutch Shell are among the suitors advancing to the next round of bidding for Newfield Exploration Co's Malaysian and Chinese...

  4. Einhorn Buys Rite Aid, Sells Microsoft: Filing

    Greenlight Capital Re Ltd., the hedge fund of noted activist investor David Einhorn, held 20.2 million shares in Rite Aid Corp., 2.6 million shares in WPX Energy Inc...

  5. Hess 2Q Net More Than Doubles After Asset Sale

    Hess (NYSE:HES) reported on Wednesday a second-quarter profit that more than doubled, after the oil and gas company sold its stake in a Russian unit.New York-based H...

  6. Exclusive: Bakken flaring burns more than $100 million a month

    Oil drillers in North Dakota's Bakken shale fields are allowing nearly a third of the natural gas they drill to burn off into the air, with a value of more than $100...

  7. JPMorgan to Sell Off Commodities Unit

    JP Morgan Chase & Co (NYSE:JPM) is exiting physical commodities trading, the bank said in a surprise statement on Friday, as Wall Street's role in the trading of raw...

  8. Hess Signs China's First Shale Oil Deal

    FBN's Jo Ling Kent breaks down mid-afternoon market news.

  9. Hess Agrees to China's First Shale Oil Deal

    Hess (NYSE:HES) said Wednesday it signed a production-sharing contract with China National Petroleum Corp., marking China's first joint agreement to develop a shale ...

  10. WSJ: Hess Hires Goldman to Sell Stations

    Hess (NYSE:HES) reportedly tapped Goldman Sachs Group (NYSE:GS) to sell its chain of namesake gas stations, as the oil company takes another step toward focusing its...

  11. Analysis: Spinning assets into partnership may not solve Devon's woes

    Devon Energy Corp's latest bid to revive interest in its stock may take a page out of the activist investors' playbook, but Wall Street continues to look elsewhere f...

  12. John Wood Group Gets 5 Year Gulf of Mexico Hess Contract

    John Wood Group PLC (WG.LN), an international energy services company, Thursday said its Wood Group PSN unit has been selected by Hess Corp. (HES) to provide operati...

  1. Week Ahead: Fed Taper Decision, Earnings

    The Fed guessing game – will they or won't they – will occupy investors next week as central bankers decide whether to continue scaling back their long-running easy ...

  2. Hess to Spin-Off Gas Station Business

    Oil and gas giant Hess (NYSE:HES) said it is considering a potential spin-off of its retail business as it responds to pressure by activist investor Elliot Managemen...

  3. Hess 4Q Outlook Misses the Street's Mark

    Hess (NYSE:HES) said Monday it expects fourth-quarter earnings to check in below Wall Street's projections, as the energy company trimmed its production guidance and...

  4. Barclays: Oil , Gas Firms to Spend 6% More in '14

    Oil and gas companies will spend about $723 billion on exploration and production (E&P) in 2014, an increase of 6.1 percent from 2013, Barclays Bank said in a report...

  5. Hess 3Q Net Slips 25% as Asset Sales Cut Into Production

    Hess (NYSE:HES) reported a 25% drop in its third-quarter profit, as the oil and gas company was hurt by lower revenue and production in the wake of asset sales.The e...

  6. Occidental Plans to Shed Assets

    Occidental Petroleum (NYSE:OXY) said Friday it plans to shed some of its assets and reduce its stake in Plains All-American Pipeline (NYSE:PAA), taking its first ste...

  7. Hess Sells Terminal Network to Buckeye

    Hess (NYSE:HES) announced on Wednesday an $850 million deal to sell its U.S. East Coast and St. Lucia terminal network to Buckeye Partners (NYSE:BPL), as the oil and...

‹ Prev12345Next ›
Freebase CC-BY
Source: Hess Corp. on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL