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Hess Corp. (HES) Tops Q1 EPS by 36c

April 30, 2014 7:34 AM EDT

Hess Corp. (NYSE: HES) reported Q1 EPS of $1.38, $0.36 better than the analyst estimate of $1.02. Revenue for the quarter came in at $5.5 billion, versus $6.1 billion reported last year.

John Hess, Chief Executive Officer of Hess, said: “Our results this quarter demonstrate continued execution of our plan to drive cash-generative growth and sustainable returns for our shareholders through a focused portfolio of world-class E&P assets. In the first quarter, our growth assets performed well, with higher production from Valhall and North Malay Basin. In addition, current Bakken production levels are in excess of 80,000 barrels of oil equivalent per day following completion of the Tioga gas plant expansion. Tubular Bells is on track for first oil in the third quarter and well results from the Utica shale play are encouraging. Overall, we remain very enthusiastic about the prospects for our company in 2014 and beyond.”

For earnings history and earnings-related data on Hess Corp. (HES) click here.



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