Hess production beats guidance

HOUSTON, April 26, 2017 – Hess Corporation on Thursday announced that its oil and gas production over the first quarter of the year had exceeded the company’s guidance.

In its financial result statement for the first three months of 2017, Hess said production was recorded at 311,000 boepd. The figure included 4,000 bopd from Libya that recently came back on stream.

A sequential increase in oil and gas production from the US Bakken play bolstered the company’s performance, and helped to keep output level compared with the fourth quarter of 2016.

Year-on-year, Hess still lags behind the 350,000 bopd recorded over the first quarter of 2016.

The company quarterly loss, however, narrowed from 509 million in 2016 to USD 324 for the first quarter of this year.

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