Hess Reports Estimated Results for the Third Quarter of 2008

NEW YORK, Oct 29, 2008 (BUSINESS WIRE) -- --Net Income was $775 million compared with $395 million in third quarter 2007 --Cash flows from operations were $1.2 billion compared with $863 million in third quarter 2007 --Oil and gas production was 361,000 barrels per day, up from 357,000 in third quarter 2007 --Debt to capitalization ratio decreased to 24.3 percent at September 30, 2008, from 28.9 percent at December 31, 2007 Hess Corporation (HES:HESNews, chart, profile, moreLast: Delayed quote dataAdd to portfolioAnalyst Create alertInsiderDiscussFinancials Sponsored by:, , ) reported net income of $775 million for the third quarter of 2008 compared with net income of $395 million for the third quarter of 2007.

The after-tax results by major operating activity were as follows: Three Months Ended Nine Months Ended September 30, (unaudited) September 30, (unaudited) 2008 2007 2008 2007 (In millions, except per share amounts) Exploration and Product...
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