Hess Corporation Cuts Capex More than 25% for 2016 after Third-Quarter Results Pummeled by Weak Prices

SUGAR LAND--October 29, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--Despite solid production numbers, particularly from North Dakota's prosperous Bakken Shale, oil and gas exploration and production company Hess Corporation (NYSE:HES) (New York, New York) reported weakened revenues and a net loss for third-quarter 2015 as low selling prices continued to show up in the company's balance books. In response, executives have announced sharp reductions in capital spending for 2016. Industrial Info is tracking $14.13 billion in active projects involving Hess.

Within this article: Details on Hess' quarter and projects, including a natural gas drilling program for 2016 in the Bakken Shale.