Hess sinks deeper into the red despite higher output

U.S. oil and gas company Hess Corporation sank deeper into the red in the last quarter of 2019 despite higher production levels when compared to the prior-year quarter.

Hess on Wednesday reported a net loss of $222 million in 4Q 2019 compared with the net loss of $4 million in the fourth quarter of 2018.

Adjusted net loss was $180 million compared with an adjusted net loss of $77 million in the fourth quarter of 2018.

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