Hess Corp. reports Q4 EPS $1.63, consensus $1.47

Reports Q4 revenue $ $3.19B, consensus $3.01B. Reports oil and gas net production was 495,000 barrels of oil equivalent per day up 18% from 418,000 boepd in the fourth quarter of 2023 Bakken net production was 208,000 boepd, up 7% from 194,000 boepd in the fourth quarter of 2023 … Guyana net production was 195,000 barrels of oil per day up 52% from 128,000 bopd in the fourth quarter of 2023 ..Reports year-end proved reserves are estimated to be 1.44 billion barrels of oil equivalent ; organic reserve replacement was 138% at a finding and development cost of $19.67 per boe… Excluding the Midstream segment, Hess Corporation had cash and cash equivalents of $1.2 B and debt and finance lease obligations totaling $5.3B at December 31 . The Midstream segment had cash and cash equivalents of $5M and total debt of $3.5B at December 31 . The Corporation’s debt to capitalization ratio as defined in its debt covenants was 28.3% at December 31 and 33.6% at December 31, 2023.