Hess Corporation net loss $396 million, $1.40 per share
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E&P capital and exploratory expenditures are expected to be $2.4 billion.
Lower realized selling prices reduced adjusted net income by approximately $420 million compared with the prior-year quarter. On an unadjusted basis, the corporation reported a net loss of $1,821 million for the fourth quarter of 2015 compared with a net loss of $8 million in the fourth quarter of last year.
Fourth quarter 2015 results included noncash goodwill and other impairment related charges totaling $1,359 million after tax.
2016 guidance:
E&P capital and exploratory expenditures are expected to be $2.4 billion, down 40 percent from 2015 E&P capital and exploratory expenditures
Oil and gas production is forecast to be in the range of 330,000 to 350,000 boepd compared to full year 2015 net production of 368,000 boepd, excluding Libya and asset sales ■