Hess Corp reported a Q4 2023 net income drop to $413M from $497M in 2022 due to lower gas/NGL prices, despite higher production volumes.

Hess Corporation reported a net income of $413 million for Q4 2023, a decrease from $497 million for the same period in 2022. The drop was due to lower realized gas and NGL selling prices, partially offset by higher production volumes. Hess' net production rose to 418,000 boepd, while its proved reserves increased to 1.37 billion boe. The company's organic reserve replacement rate reached 178%.

January 31, 2024
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