Hess Corporation Cuts 2015 Capital Spending to $4.7 Billion as Low Prices Offset Strong 2014 Productivity
SUGAR LAND--January 29, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--Oil and gas exploration and production company Hess Corporation (NYSE:HES) (New York, New York) became the latest in its industry to report a decline in profits and revenues in 2014, as a steep drop in realized hydrocarbon prices more than offset solid growth in the company's crude oil and liquefied natural gas (LNG) sales volumes. Still, Hess added significantly to its proved reserves, especially in the Bakken and Utica shales and the Gulf of Mexico. Industrial Info is tracking more than $16 billion worth of projects involving Hess.
Within this article: Details on Hess' quarter and plans, including the Stampede production platform in the Gulf of Mexico and the construction of a natural gas-fired power plant in New Jersey.
Other companies featured: General Electric (NYSE:GE)
