Replies to post #10449 on The Rising Influence of Rising Affluence

[DewDiligence]

Wolfe Research analyst thinks HES is a buyout target for XOM:

http://www.wsj.com/articles/exxons-m-a-edge-over-chevron-amid-low-oil-prices-1438368019

HES’ buyout vig has been addressed at length on this message board. Since the 2013 confrontation with the Elliott hedge fund, HES has ceased being run like a family business, and John Hess is 61.

[DewDiligence]

HES -1% on tepid 3Q15 results/2016 outlook:

http://www.wsj.com/articles/hess-pares-2016-spending-production-plans-after-poor-quarter-1446036967

Hess said it is forecasting capital spending in the range of $2.9 billion to $3.1 billion for the coming year, down from the $4.1 billion it plans to spend this year [i.e. a reduction of 27%].

It expects oil and gas production of 330,000 to 350,000 barrels of oil equivalent per day in 2016, compared with 370,000 to 375,000 barrels of oil equivalent per day forecast for this year.

Excluding special items, Hess’s per-share loss was $1.03 a share. Analysts polled by Thomson Reuters had forecast a loss of $1.20 a share.

Capital spending on exploration and production fell 38% from the prior year to $849 million, as Hess cut back on activities in the U.S., Norway and Equatorial Guinea.