Hess Income, Production on the Rise (USA)

Hess Corporation, an oil company based in New York, has reported its net income was $557 million, compared with $298 million in the third quarter of 2011.

The company’s oil and gas production was also on the rise. The output increased to 402,000 barrels of oil equivalent per day, up from 344,000 in the third quarter of 2011. Production numbers mainly rose due to an increase in production from the Bakken oil shale play and the resumption of operations in Libya.

Hess, which originally planned to release quarterly results on October 31, was forced to reschedule in light of Hurricane Sandy.

[mappress]
Offshore Energy Today Staff, November 2, 2012