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Hess Corporation

Company Summary

Description

Hess Corporation (NYSE: HES) is a global independent energy company engaged in the exploration and production of crude oil and natural gas. We are a leading shale oil and gas producer, a leader in deepwater development and production, and a focused, high impact explorer. Our assets are focused in five areas where we have proven technical capabilities: Gulf of Mexico, North Sea, West Africa, Asia Pacific and Onshore U.S.

Website

http://www.hess.com/

Operational Regions

  • Gulf of Mexico
  • Permian Basin
  • Bakken
  • Utica
  • Canada
  • Offshore Canada
  • Norwegian Sea
  • North Sea
  • West Africa
  • East Africa
  • Africa
  • Asia
  • Australia
  • South America

Financial Data:

NYSE:HES from Google Finance

Tickers:

  • HES - New York Stock Exchange

Related Entities

Recent news

  • 2/28/2024 - Exxon Mobil Considers... (subscriber access)
  • 2/22/2024 - Exxon Considers First... (subscriber access)
  • 1/31/2024 - Hess Reports 4Q23... (subscriber access)
  • 12/22/2023 - Gulf of Mexico Lease... (subscriber access)
  • 12/4/2023 - Venezuela Approves... (subscriber access)

Investor Presentations

  • January 2023 Investor Presentation
  • 1Q22 Earnings Presentation (subscriber access)
  • 2Q21 Earnings Presentation (subscriber access)
  • 4Q20 Investor Presentation (subscriber access)
  • 3Q20 Earnings Presentation (subscriber access)
  • 4Q19 Earnings Presentation (subscriber access)
  • May 2019 Presentation (subscriber access)
  • Credit Suisse Energy Summit Presentation (2/12/19) (subscriber access)
  • Investor Day 2018 Presentation (subscriber access)
  • 2Q18 Investor Presentation (subscriber access)
  • 1Q18 Earnings Presentation (subscriber access)
  • Fourth Quarter 2017 Slide Deck (subscriber access)
  • Bank of America Merrill Lynch 2017 Global Energy Conference (subscriber access)
  • Q3 2017 Hess Earnings Presentation (subscriber access)
  • 2Q17 Supplemental Presentation (subscriber access)
  • 1Q17 Supplemental Presentation (subscriber access)
  • 4Q16 Investor Presentation (subscriber access)
  • 3Q16 Supplemental Earnings Information (subscriber access)
  • Sept. 2016 - Barclays CEO Energy-Power Conference (subscriber access)
  • March 2016 Weil Energy Conference (subscriber access)

Company Transactions

Date: 8/30/2021
Type: Acquisition

BUYERS:
  • INEOS
    • SELLERS:
  • Hess Corporation
    • DETAILS:

    COST: 150 $MM

    NOTES:
    Hess has completed the sale of their Denmark subsidiary for $150 million to Ineos, which included a 61.5% stake in the South Arne Field. They will direct proceeds towards Guyana capital spending.
    REGIONS:
  • Europe

    • Date: 11/9/2020
    Type: Acquisition

    BUYERS:
  • BHP Billiton Limited
    • SELLERS:
  • Hess Corporation
    • DETAILS:

    COST: 505 $MM

    VOLUMES: 11 M Bbls/d

    NOTES:
    Hess is divesting its 28% working interest in the Shenzen Field of the deepwater Gulf of Mexico to BHP Billiton for $505 million. The field produced 11 Mboe/d year-to-date and closing is planned before year-end 2020.
    REGIONS:
  • Gulf of Mexico

    • Date: 3/30/2019
    Type: Acquisition

    BUYERS:
  • Hess Corporation
    • DETAILS:

    COST: 18 $MM

    NOTES:
    Hess spent $18 million on March 20, 2019, for U.S. Gulf of Mexico oil and gas leases.
    REGIONS:
  • Gulf of Mexico

    • Date: 2/15/2019
    Type: Acquisition

    BUYERS:
  • Hess Infrastructure Partners LP
    • SELLERS:
  • Hess Corporation
    • ASSETS:
  • Hess Bakken Water Gathering & Processing System
    • DETAILS:

    COST: 225 $MM

    VOLUMES: 24 M Bbls/d

    REGIONS:
  • Bakken

    • Date: 8/15/2018
    Type: Acquisition

    BUYERS:
  • Ascent Resources - Utica, LLC
    • SELLERS:
  • Hess Corporation
  • CNX Resources Corporation
    • DETAILS:

    COST: 400 $MM

    VOLUMES: 14 MBOE/d

    ACRES: 39000 Acres

    NOTES:
    The acreage covers the wet gas Utica Shale areas of Belmont, Guernsey, Harrison, and Noble counties in Ohio.
    REGIONS:
  • Utica

    • Date: 4/26/2018
    Type: Acquisition

    BUYERS:
  • Hess Corporation
  • Hess Guyana Exploration Ltd.
    • SELLERS:
  • Esso Exploration and Production Guyana Limited
  • ExxonMobil Corporation
    • DETAILS:
    NOTES:
    Hess reported that they have reached a deal with Esso Exploration and Production Guyana Limited to acquire a 15% stake in the Kaieteur Block of offshore Guyana.
    REGIONS:
  • South America

    • Date: 4/25/2018
    Type: Acquisition

    SELLERS:
  • Hess Corporation
    • DETAILS:

    COST: 100 $MM

    NOTES:
    Hess reported that in February 2018 they entered into a deal to sell their interests in Ghana for $100 million. The deal includes a $25 million payment upon closing and a further $75 million upon approval of the development plan on the Deepwater Tano Cape Three Points Block which is expected in late-2018.
    REGIONS:
  • West Africa

    • Date: 12/31/2017
    Type: Acquisition

    BUYERS:
  • Trident Energy
  • Kosmos Energy Ltd.
    • SELLERS:
  • Hess Corporation
    • DETAILS:

    COST: 650 $MM

    VOLUMES: 28 M Bbls/d

    REGIONS:
  • West Africa

    • Date: 12/22/2017
    Type: Acquisition

    BUYERS:
  • Aker BP
    • SELLERS:
  • Hess Corporation
  • Hess Norge
    • DETAILS:

    COST: 2 $B

    VOLUMES: 26 MBOE/d

    NOTES:
    Hess Norge owns interests in the Valhall (64.05%) and Hod (62.5%) fields
    REGIONS:
  • Norwegian Continental Shelf
  • Norwegian Sea

    • Date: 8/1/2017
    Type: Acquisition

    BUYERS:
  • Occidental Petroleum Corporation
    • SELLERS:
  • Hess Corporation
    • ASSETS:
  • Seminole Gas Processing Plant
    • DETAILS:

    COST: 600 $MM

    VOLUMES: 8.2 MBOE/d

    NOTES:
    Through the deal, Occidental is adding to their asset base with 8.2 Mboe/d (70% oil) in production. The deal includes a 34.2% interest in the Seminoles-San Andres Unit, a 46.6% interest in the Seminole Gas Processing Plant, a 100% interest in the West Bravo Dome CO2 Field in New Mexico and a 9.9% interest in the Bravo Dome Unit.
    REGIONS:
  • Permian Basin