Hess Corp

Hess Midstream reduced 2026 capital expenditures by about one-third to ~$105 million, attributing the cut to completed infrastructure and Chevron’s shift to longer laterals that improve capital efficiency. Management raised 2026 adjusted free cash flow guidance to $910m–$960m, expects second-half EBITDA to rise ~8% on new well completions, and notes high operational leverage with an ~83% gross adjusted EBITDA margin. The company benefits from fixed-fee contracts and MVCs through 2028, limited near-term cash taxes, and completed a $60m buyback while targeting 2.5x–3.0x leverage by 2028. » More on finance.yahoo.com

Chevron is eliminating 575 jobs in the Houston area following the completion of its $55 billion acquisition of Hess. The layoffs, which will take effect on September 26, primarily affect the integration of the two companies' workforces and IT systems. Hess employees will be able to apply for severance packages after the transaction is finalized. » More on de.investing.com

Hess Corporation's share price rose 6.91% this week following a price target increase by Scotiabank and news that Chevron is moving forward with its $53 billion acquisition of the company. The deal is still pending an arbitration court decision related to a dispute with Exxon and CNOOC, Hess' partners in Guyana. Analysts continue to view Hess as a strong performer in deepwater development and offshore drilling. » More on finance.yahoo.com