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Net Losses Deepen for Hess in Third Quarter on Lower Production


Industry Segment: Production | Word Count: 1111 Words

SUGAR LAND--October 3, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--After shedding more than $2 billion in assets to fund operations off the coast of Guyana in South America, U.S. oil and gas producer Hess Corporation (NYSE:HES) (New York, New York) reported a third-quarter net loss of $624 million, nearly double the prior-year quarter. In the same period last year, Hess incurred a net loss of $339 million. The weak results come as Hess tries to refocus its operations on Guyana and the U.S. after divesting its oil and natural gas interests in Equatorial Guinea and Norway earlier this week.

Within this article: Details of Hess' third-quarter results and some of the company's major projects

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