Hess Reports Estimated Results for the First Quarter of 2019

Hess  today reported net income of $32 million, or $0.09 per common share, in the first quarter of 2019, compared to a net loss of $106 million, or $0.38 per common share, in the first quarter of 2018. On an adjusted basis, the first quarter 2018 net loss was $72 million, or $0.27 per common share. First quarter 2019 results benefitted from higher U.S. crude oil production, partially offset by lower realized crude oil prices and higher depreciation, depletion and amortization expenses compared with the prior-year quarter.

     “Our company is successfully executing our strategy to deliver industry leading cash flow growth and improving financial returns well into the next decade,” Chief Executive Officer  John Hess  said. “We have started the year off with strong operating performance across our portfolio in the first quarter and continued exploration success in Guyana.”