Hess quarterly net income more than doubles on asset sales
Reuters
Published Oct 29, 2014 09:07AM ET
Updated Oct 29, 2014 09:20AM ET
Hess quarterly net income more than doubles on asset sales
(Reuters) - Oil and gas producer Hess Corp (N:HES) said on Wednesday its quarterly net income more than doubled due in part to gains from recent asset sales and a production jump in North Dakota's Bakken shale formation.
The company posted net income of $1 billion, or $3.31 per share, compared with $420 million, or $1.23 per share, in the year-ago period.
Oil production jumped to an average of 380,000 barrels of oil equivalent per day (boe/d) from 310,000 boe/d in the year-ago quarter.
(Reporting by Ernest Scheyder Editing by W Simon)
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