Hess profit down, but reserves up (Investor's Business Daily)

Investor's Business Daily - The oil and gas company's Q4 EPS slipped 2% to $1.20, missing by 5 cents, on losses at its refining operations. Revenue edged up 1.5% to $8.69 bil, topping views for $7.23 bil, mostly due to higher oil and natural gas prices. Hess' marketing and refining segment swung to a loss of $261 mil, while income from exploration and production fell 15% to $420 mil. But proved reserves rose 7% to 1.54 bil barrels of oil equivalent. Shares rose 2.8% to 79.35.

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http://news.yahoo.com/s/ibd/20110126/bs_ibd_ibd/561052

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