Hess Corp. (NYSE: HES – $56.55) reported an adjusted fourth quarter loss per share of $1.01, narrowing from a loss of $1.40 last year and beating the $1.09 per share loss analysts had forecast. The loss excludes a non-cash accounting charge of $3.749 billion on deferred tax assets and other after tax charges totaling $838 million. Revenue for the quarter came in at $1.39 billion, flat from a year earlier and just ahead of the $1.37 billion consensus estimate. Oil and gas production was 311,000 barrels of oil equivalent per day (boepd) compared to 368,000 boepd in the fourth quarter of 2015. For fiscal 2017, the oil and gas firm expects exploration and production capital and exploratory expenditures of $2.25 billion, up from $1.9 billion in 2016. Oil and gas production excluding Libya is seen at 300,000 to 310,000 barrels of oil equivalent per day compared to 2016 net production of 321,000 boepd. Further losses are predicted for 2017, but are narrowing. Long-term capital appreciation possibilities look worthwhile, at the recent quotation. Year-end 2016 cash and cash equivalents totaled $2.7 billion and the dividend (which appears maintainable at the moment) sweetens the pot. The shares can be maintained in a well-diversified aggressive portfolio for further recovery.