Hess Reports Estimated Results for the Second Quarter of 2013

Hess Reports Estimated Results for the Second Quarter of 2013

Second Quarter Highlights
• Net income increased to $1,431 million from $4549 million in the second quarter of 2012
• Adjusted earnings were $520 million; adjusted EPS were $1.51 per share
• Corporation completed the sake of its Russian subsidiary, Samara-Nafta; proceeds to Hess were $1.9 billion
• Proceeds from year-to-date asset sales were used to reduce debt by $2.4 billion and add cash to the balance sheet
• Capital and exploratory expenditures of $1,613 million in the second quarter of 2013 were down 22 percent from the same quarter last year
Full Report: Hess 2Q13 Earnings Release 7.30.13
Source: www.hess.com
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