Hess Corp. (HES) Misses Q3 EPS by 15c, Revenues Beat

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Go back to Hess Corp. (HES) Misses Q3 EPS by 15c, Revenues Beat

Hess Reports Estimated Results for the Third Quarter Of 2020

October 28, 2020 7:30 AM EDT

Key Developments:

Increased the estimate of gross discovered recoverable resources to approximately 9 billion barrels of oil equivalent (boe) for the Stabroek Block (Hess 30%), offshore Guyana; announced oil discoveries at the Yellowtail-2 and Redtail-1 wells in September, bringing total discoveries on the Block to 18 Sanctioned development of Payara, the third oil development on the Stabroek Block, which will have the capacity to produce up to 220,000 gross barrels of oil per day (bopd); first oil is expected in 2024 Agreed to sell the Corporation's 28% working interest in the... More