Hess Profit Plunges 56% but Boosts Production (HES)
Wed. October 28, 2009; Posted: 08:44 AM
Oct 28, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 10/28/2009 - Hess Corporation (NYSE:HES) reported Q3 EPS of $1.05, topping consensus analyst estimates of $0.55. Revenues for the quarter fell 35.1% year-over-year to $7.38 billion, falling short of consensus estimates of $7.52 billion. The company's oil and gas production rose 16% year-over-year to 420,000 barrels of oil per day, at an average worldwide crude oil selling price of $56.07, including the effect of hedging, compared to $93.36 during the same period in 2008.
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