Hess Reports Estimated Results for the First Quarter of 2024
25.04.2024 | Business Wire
Key Development:
- Sanctioned development of Whiptail, the sixth development on the Stabroek Block, offshore Guyana; expected to add gross production capacity of approximately 250,000 barrels of oil per day (bopd) by the end of 2027
First Quarter Financial and Operational Highlights:
- Net income was $972 million, or $3.16 per share, compared with net income of $346 million, or $1.13 per share, in the first quarter of 2023
- Oil and gas net production was 476,000 barrels of oil equivalent per day (boepd), up 27% from 374,000 boepd in the first quarter of 2023
- Bakken net production was 190,000 boepd, up 17% from 163,000 boepd in the first quarter of 2023; Guyana net production was 190,000 bopd, up 70% from 112,000 bopd in the prior-year quarter
- E&P capital and exploratory expenditures were $927 million, compared with $765 million in the prior-year quarter