Hess

Hess Midstream LP Reports Estimated Results for the Second Quarter of 2023

Retrieved on: 
Wednesday, July 26, 2023

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) today reported second quarter 2023 net income of $147.9 million compared with net income of $151.8 million for the second quarter of 2022.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) today reported second quarter 2023 net income of $147.9 million compared with net income of $151.8 million for the second quarter of 2022.
  • Distributable Cash Flow (“DCF”) for the second quarter of 2023 was $202.6 million and Adjusted Free Cash Flow was $154.3 million.
  • We refer to certain results as “attributable to Hess Midstream LP,” which exclude the noncontrolling interests in Hess Midstream Operations LP owned by the Sponsors.
  • Total operating costs and expenses in the second quarter of 2023 were $125.9 million, up from $118.1 million in the prior-year quarter.

Hess Reports Estimated Results for the Second Quarter of 2023

Retrieved on: 
Wednesday, July 26, 2023

E&P net income was $155 million in the second quarter of 2023, compared with $723 million in the second quarter of 2022.

Key Points: 
  • E&P net income was $155 million in the second quarter of 2023, compared with $723 million in the second quarter of 2022.
  • After-tax expense for Corporate, Interest and Other was $98 million in the second quarter of 2023, compared with $121 million in the second quarter of 2022.
  • Midstream capital expenditures were $52 million in the second quarter of 2023 and $72 million in the prior-year quarter.
  • Net cash provided by operating activities was $974 million in the second quarter of 2023, compared with $1,509 million in the second quarter of 2022.

Hess Midstream LP Announces Distribution Per Share Level Increase; Increases Quarterly Distribution

Retrieved on: 
Monday, July 24, 2023

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.6011 per Class A share for the quarter ended June 30, 2023.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.6011 per Class A share for the quarter ended June 30, 2023.
  • The distribution represents an approximate 2.7% increase in the quarterly distribution per Class A share for the second quarter of 2023 as compared to the first quarter of 2023.
  • This increase consists of an approximate 1.5% increase in Hess Midstream’s distribution level per Class A share in addition to the quarterly 1.2% increase per Class A share consistent with its target of at least 5% growth in annual distributions per Class A share through 2025.
  • “With today’s announcement, we again utilized our excess adjusted free cash flow beyond our growing distributions and were able to provide a further return of capital to our shareholders through a 1.5% increase per Class A share in our quarterly distribution level and continue to target at least 5% annual distribution growth per Class A share through 2025 from this new higher distribution level.

Hess Corporation Publishes 26th Annual Sustainability Report

Retrieved on: 
Thursday, July 20, 2023

Hess Corporation (NYSE: HES) today announced publication of its annual sustainability report, which provides a comprehensive review of the company’s strategy and performance on environmental, social and governance (ESG) programs and initiatives.

Key Points: 
  • Hess Corporation (NYSE: HES) today announced publication of its annual sustainability report, which provides a comprehensive review of the company’s strategy and performance on environmental, social and governance (ESG) programs and initiatives.
  • Hess Corporation’s 2022 Sustainability Report is available on the company’s website at www.hess.com/sustainability/sustainability-reports .
  • In the U.S., Hess performs a pay equity evaluation process based on gender and race; the results of the 2022 analysis are included in this year’s sustainability report.
  • Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas.

Hess Midstream LP Schedules Earnings Release Conference Call

Retrieved on: 
Tuesday, July 11, 2023

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that it will hold a conference call on Wednesday, July 26, 2023, at 12:00 p.m. Eastern Time to discuss its second quarter 2023 earnings release.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that it will hold a conference call on Wednesday, July 26, 2023, at 12:00 p.m. Eastern Time to discuss its second quarter 2023 earnings release.
  • To phone into the conference call, participants should register in advance using this link to receive a unique PIN and dial-in number.
  • This conference call and subsequent replay will also be accessible by webcast (audio only) on Hess Midstream’s website at www.hessmidstream.com .

Boehringer Ingelheim, Fashion Institute of Technology's DTech Lab introduce fifth piece to award-winning design collection that raises awareness of rare disease

Retrieved on: 
Wednesday, June 28, 2023

"Since its introduction last year, The Unwearable Collection has helped to raise much-needed awareness for GPP.

Key Points: 
  • "Since its introduction last year, The Unwearable Collection has helped to raise much-needed awareness for GPP.
  • Trapped by Uncertainty combines unwearable elements, such as shards of glass and crystals, with materials used in everyday fashion design.
  • FIT's Fashion Design team worked under the supervision of Dobriana Gheneva, Assistant Professor, Fashion Design, with creative direction by Michael Ferraro, Executive Director, FIT DTech Lab to create the fifth design.
  • "It was the experiences of people living with GPP and their descriptions of the disease that ultimately inspired me to create The Unwearable Collection.

Hess Midstream LP Announces Signing of Accretive $100 Million Sponsor Unit Repurchase

Retrieved on: 
Tuesday, June 27, 2023

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced the execution of a definitive agreement providing for the repurchase of approximately $100 million of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream’s sponsors (the “Sponsors”).

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced the execution of a definitive agreement providing for the repurchase of approximately $100 million of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream’s sponsors (the “Sponsors”).
  • Hess Midstream Operations LP, Hess Midstream’s consolidated subsidiary, agreed to repurchase 3,350,084 Class B units of Hess Midstream Operations LP, equal to approximately 1.4% of the consolidated company, held by the Sponsors for an aggregate purchase price of approximately $100 million.
  • As a result of the unit repurchase transaction, public ownership of Hess Midstream on a consolidated basis will increase to approximately 24.0%.
  • Hess Midstream expects to fund the unit repurchase through borrowings under its existing revolving credit facility.

Verint Partner Executives Recognized on CRN’s 2023 Women of the Channel List

Retrieved on: 
Thursday, May 11, 2023

Verint® (NASDAQ: VRNT), The Customer Engagement Company®, announced today that CRN® , a brand of The Channel Company , has named Tiffany Hess, vice president, channel development, and Lori Peterson, vice president, global partner management, to the Women of the Channel list for 2023.

Key Points: 
  • Verint® (NASDAQ: VRNT), The Customer Engagement Company®, announced today that CRN® , a brand of The Channel Company , has named Tiffany Hess, vice president, channel development, and Lori Peterson, vice president, global partner management, to the Women of the Channel list for 2023.
  • With this recognition, CRN honors these women for their unwavering dedication and commitment to furthering channel excellence.
  • Her unique ability to help channel partners leverage Verint’s product knowledge and expertise ensures customer and partner success.
  • “The channel is stronger because of them, and we look forward to seeing what they do next.”
    The 2023 Women of the Channel list is available online at www.CRN.com/WOTC .

Advisor Team with Nearly $400 Million in Assets Joins Ameriprise Financial for Supportive and Collaborative Culture

Retrieved on: 
Monday, May 8, 2023

McCay Kuznitz Hess Group, a wealth management practice managing nearly $400 million in client assets, recently joined the branch channel of Ameriprise Financial, Inc. (NYSE: AMP) in Red Bank, New Jersey.

Key Points: 
  • McCay Kuznitz Hess Group, a wealth management practice managing nearly $400 million in client assets, recently joined the branch channel of Ameriprise Financial, Inc. (NYSE: AMP) in Red Bank, New Jersey.
  • McCay and Hess were previously affiliated with the Ameriprise independent channel but left the firm for Merrill Lynch in 2017.
  • After six years at Merrill, they found they missed the support, assistance, and direction offered by Ameriprise.
  • Teaming up with Kuznitz, they brought their practice back to Ameriprise, this time affiliating with the firm’s branch channel.

Hess Sanctions Uaru Development Offshore Guyana

Retrieved on: 
Friday, April 28, 2023

Hess Corporation (NYSE: HES) today announced it has made a final investment decision to proceed with Uaru, the fifth development on the Stabroek Block, after receiving government and regulatory approvals.

Key Points: 
  • Hess Corporation (NYSE: HES) today announced it has made a final investment decision to proceed with Uaru, the fifth development on the Stabroek Block, after receiving government and regulatory approvals.
  • Uaru will have a production capacity of approximately 250,000 gross barrels of oil per day with production targeted to startup in 2026.
  • “We are excited to sanction Uaru, our fifth oil development on the Stabroek Block,” CEO John Hess said.
  • Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.