HOUSTON, TEXAS (By Editors at Energy Analytics Institute, 28.Jul.2025, Words: 533) — Effective as of 1 Apr. 2026, Chevron USA is expected to cause the transfer of its interest in Hess Toy Truck LLC (“ToyCo”). ToyCo is a limited liability company that holds assets comprising the Hess toy truck business, […]
Tag: John Hess
John B. Hess appointed to Chevron Corporation board
ATLANTA, GEORGIA (By Chad Archey, Energy Analytics Institute, 28.Jul.2025, Words: 342) — The board of directors of Chevron Corporation appointed John B. Hess as a member of the board, effective 28 Jul. 2025. Mr. Hess will also serve as a member of the public policy and sustainability committee of the […]
Guyana’s President Ali Discusses National Healthcare Vision in Panel Session
(Hess Corp., 24.Oct.2024) — Guyana’s progress in building a model national healthcare system was the focus of a recent panel discussion at the Concordia Annual Summit in New York City. The panel featured Guyana’s President, H.E. Dr. Mohammed Irfaan Ali, who was joined by Hess Corporation CEO John Hess and […]
Chevron Agrees Hess CEO Will Not Join Board in Deal with US Regulator, Bloomberg Reports
(Reuters, 26.Sep.2024) — U.S. energy major Chevron has agreed Hess CEO John Hess will not join its board in an agreement with the U.S. Federal Trade Commission to proceed with the $53 billion takeover deal, Bloomberg News reported on Thursday citing people familiar with the matter. The proposed all-stock acquisition, […]
John Hess Personally Calls Investors to Support Chevron Deal Before Vote
(Bloomberg, 22.May.2024) — John Hess, the boss of the oil company that bears his family name, is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter. The Hess Corp. chief executive […]
Hess CEO to Participate in Goldman Sachs Global Conference
(Hess, 19.Dec.2022) — Hess Corporation (NYSE: HES) announced that John Hess, Chief Executive Officer, will participate in a Fireside Chat at the Goldman Sachs Global Energy and Clean Technology Conference on 5 January 2023 at 10:20 a.m. Eastern Time. A live webcast and a replay of the discussion will be accessible via Hess Corporation’s website. Hess Corporation is a leading global […]
Hess and Guyana’s Gov’t Announce REDD+ Carbon Credits
(Hess, 2.Dec.2022) — Hess Corporation (NYSE: HES) and the Government of Guyana today announced an agreement for Hess to purchase high quality carbon credits for a minimum of $750mn between 2022 and 2032 directly from the Government of Guyana. This agreement will serve to support Guyana’s efforts to protect the country’s vast forests and provide capital […]
Hess Announces Two More Discoveries Offshore Guyana
(Hess, 26.Oct.2022) — Hess Corporation (NYSE: HES) today announced two new discoveries at the Yarrow-1 and Sailfin-1 wells on the Stabroek Block offshore Guyana. The discoveries, which are the eighth and ninth this year, will add to the block’s previously announced gross discovered recoverable resource estimate of approximately 11 billion barrels of […]
Hess Corp. Reports Estimated 1Q:22 Results [PDF Downloads]
(Hess, 27.Apr.2022) — Hess Corporation (NYSE: HES) reported net income of $417mn, or $1.34 per share, in the first quarter of 2022, compared with net income of $252mn, or $0.82 per share, in the first quarter of 2021. On an adjusted basis, the corporation reported net income of $404mn, or […]
Hess Reveals Three New Finds Offshore Guyana, Boosts Resource Estimate
(Hess, 26.Apr.2022) — Hess Corporation (NYSE: HES) announced an increase in the gross discovered recoverable resource estimate for the Stabroek Block offshore Guyana to approximately 11 billion barrels of oil equivalent, up from the previous estimate of more than 10 billion barrels of oil equivalent. The updated resource estimate includes three new discoveries […]
Hess Starts Production from Liza Phase 2 Development, Offshore Guyana
(Hess, 11.Feb.2022) — Hess Corporation (NYSE: HES) announced startup of production from the Liza Phase 2 development on the Stabroek Block offshore Guyana, utilizing the Liza Unity floating production, storage and offloading (FPSO) vessel. The Liza Unity is expected to reach its production capacity of 220,000 gross barrels of oil per day […]
![Hess Reports 4Q:21 Results, Updates on Guyana [PDF Download]](https://energy-analytics-institute.org/wp-content/uploads/2022/01/hess-hq-1-houston-energy-analytics-institute-scaled.jpeg)
Hess Reports 4Q:21 Results, Updates on Guyana [PDF Download]
(Hess, 26.Jan.2022) — Hess Corporation (NYSE: HES) reported net income of $265mn, or $0.85 per share, in the fourth quarter of 2021, compared with a net loss of $97mn, or $0.32 per share, in the fourth quarter of 2020. On an adjusted basis, the corporation reported a net loss in […]
Hess Reports Two Finds Offshore Guyana
(Hess, 5.Jan.2022) — Hess Corporation (NYSE: HES) announced two significant discoveries at the Fangtooth-1 and Lau Lau-1 wells on the Stabroek Block offshore Guyana. These discoveries will add to the block’s previously announced gross discovered recoverable resource estimate of approximately 10 billion barrels of oil equivalent. The Fangtooth-1 well encountered approximately 164 feet […]
Hess Updates On Guyana Activities
(Hess, 27.Oct.2021) — At the Stabroek Block (Hess – 30%), the corporation’s net production from the Liza Field was 32,000 bopd in the third quarter of 2021 compared with 19,000 bopd in the prior year quarter. The Liza Unity FPSO, with an expected capacity of 220,000 gross bopd, arrived at […]
Hess Boosts Resource Estimate for Stabroek Block
(Hess, 7.Oct.2021) — Hess Corporation (NYSE: HES) announced an increase in the gross discovered recoverable resource estimate for the Stabroek Block offshore Guyana to approximately 10 billion barrels of oil equivalent, up from the previous estimate of more than 9 billion barrels of oil equivalent. The updated resource estimate includes another […]
Hess Corp.’s Transcript For Its 2Q:21 Results Call
(Seeking Alpha, 28.Jul.2021) — The earnings call transcript from Hess Corporation’s (NYSE:HES) second quarter 2021 earnings conference call on 28 July 2021. Corporate Participants Jay Wilson – VP, Investor Relations John Hess – Chief Executive Officer Greg Hill – Chief Operating Officer John Rielly – Chief Financial Officer Conference Call […]
Hess Reveals Oil Find At Whiptail-1
(Hess, 28.Jul.2021) — Hess Corporation (NYSE: HES) announced a significant oil discovery on the Stabroek Block offshore Guyana at Whiptail. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which is located 3 […]
Hess Corp. Sets New Emission Reduction Targets
(Hess, 21.Jul.2021) — Hess Corporation announced publication of its 24th annual sustainability report, which provides a comprehensive review of the company’s strategy and performance on environmental, social and governance (ESG) programs and initiatives. Hess Corporation’s 2020 Sustainability Report is available on the company’s website at www.hess.com/sustainability/sustainability-reports. Significantly outperformed five year […]
Hess Reports Discovery At Longtail-3, Offshore Guyana
(Hess, 9.Jun.2021) — Hess Corporation (NYSE: HES) announced a discovery offshore Guyana at the Longtail-3 well on the Stabroek Block. Drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well is located approximately […]
Hess eyes higher, new nameplate capacity at Liza Destiny FPSO
(Aaron Simonsky, Energy Analytics Institute, 26.May.2021, Words: 411) — The Liza Destiny floating production storage and offloading (FPSO) unit offshore Guyana in the Stabroek Block is expected to shutdown briefly in Nov. 2021 to install a new design flash gas compressor. Plans are to debottleneck or optimize the unit so […]
Hess Corp. Reports 1Q:21 Results
(Hess 28.Apr.2021) — Hess reported net income of $252mn, or $0.82 per common share, in the first quarter of 2021, compared with a net loss of $2,433mn, or $8.00 per common share, in the first quarter of 2020 that included impairment and other after-tax charges of $2,251mn. On an adjusted […]
Hess Finds Oil At Uaru-2, Offshore Guyana
(Hess, 27.Apr.2021) — Hess Corporation (NYSE: HES) today announced another oil discovery offshore Guyana at the Uaru-2 well on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of approximately 9 billion barrels of oil equivalent. Highlights: — Adds to previous […]
Hess Divest Interests In Denmark
(Hess, 18.Mar.2021) — Hess entered into an agreement to sell its subsidiary Hess Denmark ApS, which holds a 61.5% interest in the South Arne Field, to Ineos E&P AS for a total consideration of $150mn, effective 1 January 2021. “The sale of our Denmark asset enables us to further focus […]
Hess Reports 4Q:20 Net Loss
(Hess, 27.Jan.2021) — Hess Corporation reported a net loss of $97mn, or $0.32 per common share, in the fourth quarter of 2020, compared with a net loss of $222mn, or $0.73 per common share, in the fourth quarter of 2019. On an adjusted basis, the corporation reported a net loss […]
Hess Corp.’s 4Q:20 Earnings Call Transcript
(Seeking Alpha, 27.Jan.2021) — A full transcript of the Hess Corporation4Q 2020 earnings conference call from 27 January 2021 at 10:00 am ET follows here. Executives Jay Wilson – VP, IR John Hess – CEO Greg Hill – COO John Rielly – CFO Analysts Jeanine Wai – Barclays Capital Doug […]
Hess Announces 2021 E&P CAPEX Of $1.9bn
(Hess, 25.Jan.2021) — Hess today announced a 2021 Exploration & Production capital and exploratory budget of $1.9bn, of which more than 80% will be allocated to Guyana and the Bakken. Net production is forecast to average approximately 310,000 barrels of oil equivalent per day in 2021, excluding Libya. Bakken net […]
Hess CEO Eyes 10 FPSOs In The Stabroek Block
(Energy Analytics Institute, 29.Oct.2020) — Hess Corporation CEO John Hess announced estimated resources offshore Guyana in the Stabroek Block were approximately 9 billion barrels of oil equivalent, and potentially requiring 10 floating production storage and offloading (FPSO) units to develop them. “Incorporating the current assessment of additional volumes from the […]
Hess To Divest Interests In Shenzi Field, Gulf of Mexico
(Hess, 5.Oct.2020) — Hess entered into an agreement to sell its 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico to BHP Billiton, the field’s operator, for a total consideration of $505mn, subject to customary adjustments, with an effective date of 1 July 2020. The field […]
Hess Sanctions Payara Development
(Hess, 30.Sep.2020) — Hess made a final investment decision to proceed with development of the Payara Field offshore Guyana after the development plan received approval from the government of Guyana. Payara is the third oil development on the Stabroek Block; gross production capacity from the three developments is expected to […]
Hess Corp. CEO John Hess Eyes Imminent Payara Deal
(Energy Analytics Institute, 9.Sep.2020) — Hess Corporation CEO John B. Hess is optimistic the Guyanese government of new President Mohamed Irfaan Ali will give approval in coming weeks for the company’s Payara offshore development. “In terms of our Payara development, our joint venture is in close communication with the government […]
Hess Finds More Oil At Redtail-1, Yellowtail-2
(Hess, 8.Sep.2020) — Hess announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent. Redtail-1 encountered approximately 232 feet (70 meters) of […]
Hess To Participate In Barclays CEO Conference
(Hess Corp., 4.Sep.2020 — Hess announced that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on 9 September 2020 at 8:25 a.m. ET. A live audio webcast and a replay of the presentation will be accessible via Hess Corporation’s website. Hess Corporation […]
Hess Cuts CAPEX, Focuses On Guyana
(WorldOil, 17.Mar.2020) — Hess Corporation announced a revised $2.2 billion capital and exploratory budget for 2020, an $800 million reduction from the previous budget of $3.0 billion. The company also announced a new $1.0 billion three-year term loan agreement. These actions further strengthen the company’s cash position and financial liquidity […]
Guyana’s Latest Discovery Similar To Nearby Liza, Hess Says
(Seeking Alpha, Carl Surran, 25.Apr.2019) — Hess says Guyana’s latest offshore deepwater discovery contains oily fluids similar to those of the initial Liza discovery, which is being readied for first production early next year. Yellowtail, the 13th discovery at Guyana’s deepwater Stabroek block by a partnership which also includes Exxon […]
Hess, Exxon Mobil Prep For More Exploration Offshore Guyana
(Hart Energy, Velda Addison, Senior Editor, 31.Oct.2018) — Partners Exxon Mobil, Hess Corp. and CNOOC Nexen Petroleum are making progress toward development of the hydrocarbon bounty discovered offshore Guyana. “This month a second exploration vessel, the Noble Tom Madden, arrived to accelerate exploration and appraisal activities on the block starting […]
Offshore Guyana Oil and Gas Potential is “Massive”
(UPI, Daniel J. Graeber, 23.Jul.2018) – The size of a reservoir off the coast of Guyana is “massive,” the CEO of Hess Corp. said Monday after a multi-million barrel revision to reserve estimates. Hess and Exxon Mobil on Monday revised the estimate of recoverable reserves at the Stabroek block off […]
Hess Divest Interests In Equatorial Guinea
(Hess, 23.Oct.2017) — Hess Corporation entered into an agreement to sell its interests in offshore Equatorial Guinea to Kosmos Energy and Trident Energy for a total consideration of $650mn, effective 1 January 2017. “This sale is a further step in our strategy to focus our portfolio by investing in higher […]