Hess Corporation (HES) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Operator
Good day, ladies and gentlemen, and welcome to the first-quarter 2021 Hess Midstream conference call. My name is Andrew, and I will be your operator for today. [Operator instructions] As a reminder, this conference is being recorded for replay purposes. I would now like to turn the conference over to Jennifer Gordon, vice president of investor relations.
Please proceed.
Vice President of Investor Relations
Thank you, Andrew. Good afternoon, everyone, and thank you for participating in our first-quarter earnings conference call. Our earnings release was issued this morning and appears on our website, www.hessmidstream.com. Today s conference call contains projections and other forward-looking statements within the meaning of the federal securities laws.
Operator
Good day, ladies and gentlemen, and welcome to the fourth-quarter 2020 Hess Midstream conference call. I m Sarah, and I will be your operator for today. [Operator instructions] As a reminder, this conference call is being recorded for replay purposes. I would now like to turn the conference over to Jennifer Gordon, vice president of investor relations.
Please proceed.
Vice President of Investor Relations
Thank you, Sarah. Good afternoon, everyone, and thank you for participating in our fourth-quarter earnings conference call. Our earnings release was issued this morning and appear on our website, www.hessmidstream.com. Today s conference call contains projections and other forward-looking statements within the meaning of the federal securities laws.
Rithika Krishna
(Adds estimates, analyst comment, background)
Jan 27 (Reuters) - Hess Corp reported a smaller-than-expected quarterly loss on Wednesday, as the U.S. oil and gas producer kept a tight lid on costs and helped by higher gas prices and a recovery in crude demand from the hit caused by the coronavirus.
Easing of COVID-19 related restrictions has propelled oil demand and prices, which remain stable since a late-2020 rebound from historic lows. Brent crude, which averaged at $45 per barrel in the last quarter of 2020, rose above $56 on Wednesday.
Despite the rise in crude prices, oil producers have so far largely refused to raise production too quickly, aiding prices for natural gas - largely a byproduct of oil drilling.