Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Hess Updates on Q4 Production Figures

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Hess (NYSE: HES  ) will likely not have a banner Q4. The company has released an operational update for the first two months of the period, and provided selected guidance for the quarter. 

In terms of operations, the company said that it produced an average of 309,000 barrels of oil equivalent per day in the first two months of the quarter; that figure for the entirety of Q3 was 310,000 boepd. In terms of sales, those numbers were 317,000 boepd and 296,000 boepd, respectively.

The realized selling prices for those goods were lower, however, with the firm's worldwide price of crude oil averaging $98.65 per barrel on a hedged basis over those two months, against Q3's $104.95. 

Due to the sooner-than-expected closing of a sale of a field in Indonesia, as well as higher maintenance-related downtime, Hess trimmed its production guidance for the full Q4 2013. It now expects the average to be around 310,000 boepd, down from its previous anticipation of 320,000 boepd.  

In terms of financials, the company believes its adjusted per-share earnings will be below Q3's $1.18. Analysts had expected EPS of $1.38 for Q4.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2767214, ~/Articles/ArticleHandler.aspx, 8/25/2016 11:30:58 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 hours ago Sponsored by:
DOW 18,448.41 -33.07 -0.18%
S&P 500 2,172.47 -2.97 -0.14%
NASD 5,212.20 -5.49 -0.11%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

8/25/2016 4:01 PM
HES $56.81 Up +0.46 +0.82%
Hess CAPS Rating: ****