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Hess Sees Huge Jump in Bakken Production; Talks GOM Discoveries
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Hess Corporation has reported its estimated second quarter 2015 results.
Highlights: Adjusted net loss was $147 million or $0.52 per share compared to net income of $432 million or $1.38 per share in the prior-year quarter; lower hydrocarbon prices reduced second quarter 2015 adjusted net income by approximately $740 million, after-tax Net loss was $567 million compared to net income of $931 million in the second quarter of 2014 Oil and gas production increased to 391,000 barrels of oil equivalent per day (boepd) compared to 319,000 boepd in the second quarter of 2014 Oil and gas production in the Bakken was 119,000 boepd, up from 80,000 boepd in the year-ago quarter Announced sale of 50% interest in Bakken Midstream, resulting in $3 billion of cash proceeds Capital and exploratory…- ✓ Full news archive — U.S., Canada & international coverage
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