(Hess, 30.Oct.2024) — Hess Corporation reported net income of $498mn, or $1.62 per share, in the third quarter of 2024, compared with net income of $504mn, or $1.64 per share, in the third quarter of 2023.
On an adjusted basis, the corporation reported net income of $660mn, or $2.14 per share, in the third quarter of 2024. The increase in adjusted after-tax earnings compared with the prior-year quarter primarily reflects higher production volumes, partially offset by lower realized selling prices in the third quarter of 2024.
Net production from the Bakken was 206,000 boe/d in the third quarter of 2024, compared with 190,000 boe/d in the prior-year quarter, primarily reflecting increased drilling and completion activity. NGL and natural gas volumes received under percentage of proceeds contracts were 22,000 boe/d in the third quarter of 2024, compared with 19,000 boe/d in the third quarter of 2023.
During the third quarter of 2024, the corporation operated four rigs and drilled 32 wells, completed 36 wells, and brought 37 new wells online. The corporation plans to continue operating four drilling rigs in the fourth quarter of 2024. Bakken net production is forecasted to be in the range of 200,000 boe/d to 205,000 boe/d in the fourth quarter of 2024, reflecting lower anticipated volumes received under percentage of proceeds contracts.
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