oil production

oil production

Hess Quarterly Net Income More Than Doubles On Asset Sales

1d ago
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<a href="http://on.aol.com/video/hess-quarterly-net-income-more-than-doubles-on-asset-sales-518486770"> </a> Oil and gas producer Hess Corp 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.