Hess Corp. (NYSE: HES) reported Q3 EPS of $0.38, versus $0.00 reported last year.

• Net income was $52 million, or $0.14 per common share, compared with a net loss of $624 million, or $2.02 per common share, in the prior-year quarter
• Adjusted net income was $123 million, or $0.38 per common share, compared to an adjusted net loss of $324 million, or $1.07 per common share, in the third quarter of last year
• Oil and gas production exceeded guidance: total net production averaged 279,000 barrels of oil equivalent per day (boepd), excluding Libya
• Bakken net production was 118,000 boepd, up from 103,000 boepd in the year-ago quarter
• Exploration & Production capital and exploratory expenditures were $542 million in the quarter, compared to $558 million in the prior-year quarter
• Cash and cash equivalents, excluding Midstream, were $2.6 billion at September 30, 2018

“We achieved another strong quarter, delivering higher production and lower costs than our guidance while keeping capital and exploratory expenditures flat with guidance for the year,” Chief Executive Officer John Hess said. “Our reshaped portfolio is well positioned for a decade plus of capital efficient production growth with increasing cash generation and returns to shareholders.”

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