| Market Capitalization (Millions $) |
45,972 |
| Shares
Outstanding (Millions) |
309 |
| Employees |
1,756 |
| Revenues (TTM) (Millions $) |
12,499 |
| Net Income (TTM) (Millions $) |
2,607 |
| Cash Flow (TTM) (Millions $) |
-114 |
| Capital Exp. (TTM) (Millions $) |
5,001 |
Business Description
Hess Corporation, originally incorporated in Delaware in 1920 as Amerada Hess Corporation, is a global independent energy company engaged in the exploration, production, and marketing of crude oil and natural gas. The companys operations extend across several countries, including the United States, United Kingdom, Norway, Denmark, Equatorial Guinea, Algeria, Gabon, Indonesia, Thailand, Azerbaijan, and Malaysia.
Exploration and Production
United States: Hess operates primarily offshore in the Gulf of Mexico and onshore in notable regions such as Texas, Louisiana, and North Dakota.
United Kingdom: Activities in this region are managed by Hesss wholly-owned subsidiary, Hess Limited.
Norway: Operations are conducted through Hesss Norwegian subsidiary, Hess Norge A/S.
Denmark: The South Arne Field is operated by Hess ApS, the companys wholly-owned Danish subsidiary.
Equatorial Guinea: Hess has production sharing contracts for three offshore blocks, acquired in 2001.
Malaysia and Thailand: Hess significantly increased its interest in long-term natural gas reserves in the joint development area of Malaysia and Thailand, following a 2003 asset exchange.
Algeria: The company holds a 49% stake in a venture working alongside the Algerian national oil company to redevelop three oil fields.
Gabon: Hess Production Gabon, which Hess owns 75%, holds interests in multiple oil fields, including a 10% interest in the Rabi Kounga Field.
Indonesia: A current development project is underway focusing on a natural gas discovery in the Pangkah production sharing contract area.
Thailand: Hess holds a 15% interest in the Pailin gas field and has seen substantial gas production from its holdings.
Azerbaijan: The company has a72% interest in the Azerbaijan International Operating Company (AIOC) consortium in the Caspian Sea.
Refining and Marketing
Refining: Hess owns a 50% stake in the HOVENSA refining joint venture situated in the United States Virgin Islands, alongside a subsidiary of Petroleos de Venezuela'S.A. Moreover, it operates a refining facility in Port Reading, New Jersey.
Marketing: Hess markets refined petroleum products primarily along the East Coast of the United States, targeting motorists, wholesale distributors, industrial users, and governmental agencies. The company also markets natural gas to utilities and industrial clients. Its energy marketing portfolio includes electricity sales and participation in a partnership that trades energy commodities and derivatives.
The company operates 22 terminals with a total storage capacity of approximately 21 million barrels in its East Coast marketing network. Additionally, Hess provides distributed electricity generation solutions to businesses as an alternative to local utility supplies and is involved in developing fuel cells for electricity generation through long-term technology investments.
Overall, Hess Corporation continues to evolve as a significant player in the global energy market, focusing on efficient resource management and strategic partnerships to navigate the complexities of the industry.
Company Address: 1185 AVENUE OF THE AMERICAS NEW YORK 10036 NY
Company Phone Number: 997-8500 Stock Exchange / Ticker: NYSE HES
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