Hess Corporation Reports Q1 2025 Earnings and Guyana Progress

Hess Corp. ( (HES) ) has released its Q1 earnings. Here is a breakdown of the information Hess Corp. presented to its investors.

Hess Corporation is a global independent energy company focused on the exploration and production of crude oil and natural gas, with significant operations in the United States and internationally, including notable developments in Guyana.

In its first quarter of 2025 earnings report, Hess Corporation announced a net income of $430 million, or $1.39 per share, a decrease from $972 million, or $3.16 per share, in the same period last year. The company highlighted the progress of its Yellowtail oil development project in Guyana, which is expected to commence production in the third quarter of 2025.

Key financial metrics revealed a consistent production rate of 476,000 barrels of oil equivalent per day, matching the previous year’s first quarter. However, the company experienced a drop in average realized crude oil selling prices, contributing to the lower net income. Exploration and production capital expenditures increased to $1,085 million, driven by heightened development activities in Guyana.

Operationally, Hess reported increased production in the Bakken region and the Gulf of America, while Guyana’s production saw a slight decrease due to lower tax barrels. The company continues to invest heavily in its Guyana projects, with several developments expected to boost future production capacity.

Looking ahead, Hess Corporation remains focused on its strategic projects, particularly in Guyana, and anticipates increased production levels in the coming quarters. The company is also preparing for its pending merger with Chevron, which is expected to further enhance its operational capabilities and market presence.