Hess Has Been 2019’s Top Oil and Gas Stock… WSJ

August 22, 2019 by Jim Colburn Leave a Comment

Here is the Wall Street Journal’s Bradley Olsen:

“Hess Corp. HES 3.56% has emerged as the best-performing U.S. oil company this year. The reasons have little to do with the American fracking boom.

Instead, Hess’s popularity with investors is rooted in a small South American nation. The New York-based company holds a 30% stake in an immense offshore oil field being developed by Exxon Mobil Corp. in Guyana that appears poised to become one of the most lucrative megaprojects in years. The company’s shares have surged more than 50% in 2019, the biggest increase of any major U.S. oil operator, excluding companies acquired in deals.”

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