Hess Likely to Raise Guidance After Second Quarter Based on Strong Start to 2019
Hess delivered production of 299 mboe/d in the first quarter, which was 4% higher sequentially and 17% higher year over year. Excluding Libya volumes, first-quarter production was 278 mboe/d, which was substantially higher than prior guidance of 270 mboe/d. The beat was driven by outperformance in the Gulf of Mexico and Malaysia--Bakken volumes were in line with guidance despite completing 10 fewer wells than planned due to weather interference. Despite the positive surprise there was no change ...Hess is a global exploration and production company engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquid (NGL), and natural gas with production operations located primarily in the United States, Guyana, the Malaysia/Thailand Joint Development Area, Malaysia and Denmark. The company's Midstream operating segment provides fee-based services, including gathering, compressing and processing natural gas and fractionating NGL; gathering, terminaling, loading and transporting crude oil and NGL; storing and terminaling propane, and water handling services primarily in the Bakken shale play in the Williston Basin area of North Dakota.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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