Hess beats by $0.07, beats on revs (51.87)
- Reports Q4 (Dec) loss of $0.31 per share, excluding non-recurring items, $0.07 better than the S&P Capital IQ Consensus of ($0.38); revenues rose 30.3% year/year to $1.68 bln vs the $1.49 bln S&P Capital IQ Consensus
- Oil and gas production averaged 267,000 barrels of oil equivalent per day (boepd), excluding Libya; Bakken net production was 126,000 boepd, up 15 percent from 110,000 boepd in the year-ago quarter
- Oil and gas proved reserves at December 31, 2018, which are subject to final review, were 1,192 million boe, compared with 1,154 million boe at December 31, 2017
2019 Guidance:
- E&P capital and exploratory expenditures are expected to be $2.9 billion
- Oil and gas production, excluding Libya is forecast to be in the range of 270,000 to 280,000 boepd, compared to full year 2018 net production, excluding Libya and assets sold, of 248,000 boepd