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Hess Corp. reports Q2 EPS $2.62, consensus $2.48

Reports Q2 revenue $3.26B, consensus $3.05B… Net production was 494,000 boepd in the second quarter of 2024, compared with 387,000 boepd in the second quarter of 2023, primarily due to higher production in Guyana and the Bakken. In the third quarter of 2024, E&P net production is expected to be in the range of 460,000 boepd to 470,000 boepd, primarily reflecting planned downtime in Guyana and Southeast Asia. $.E&P capital and exploratory expenditures were $1,151 million in the second quarter of 2024, compared with $933 million in the prior-year quarter, primarily due to higher development activities in Guyana, and higher drilling activity in the Gulf of Mexico and the Bakken. Third quarter 2024 E&P capital and exploratory expenditures are expected to be approximately $1,125M.

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