Rigzone Industry News

Hedge fund managers that wagered billions on Chevron's October deal to buy Hess Corp. are sticking to their bets.

In a release posted on its website on February 29, the Texas A&M Forest Service noted that the largest wildfire in Texas history was actively burning that day.

The project, located offshore Nigeria in the Erha and Usan fields, is expected to begin in September.

The new advisor, Pulakesh Mukherjee, is a co-founding partner at Imperative Ventures.

The crew of a commercial ship in the Red Sea abandoned the vessel following a Houthi attack.

The company reported a net loss of $123.5 million versus a net loss of $153.3 million for 2022.

Hess reported $413 million in net income for the fourth quarter of 2023.

The attack means that a greater slice of the three million barrels a day of Russian crude oil and fuel that has been flowing through the Red Sea to reach customers in Asia could be at risk.

The company's adjusted net income for the quarter, excluding losses in Argentina primarily due to currency devaluation, was $769 million, or $0.86 per share.

SLB posted a 22 percent rise in net profit to $4.2 billion for 2023, a record year for its Middle East operations in terms of revenue.