A Leading Independent Energy Company
Hess Corporation is a leading global energy company headquartered in New York City. It operates in the exploration and production of crude oil and natural gas, with a significant presence in both domestic and international markets. Hess is known for its focus on high-quality assets and its commitment to sustainable practices.
Key Details:
- Founded: 1933
- Headquarters: New York City, New York, USA
- Industry: Oil and Gas Exploration & Production
- Stock Ticker: HES (NYSE)
Business Segments:
- Exploration and Production (E&P):
- Hess’s E&P segment is involved in the exploration, development, and production of crude oil and natural gas. The company operates in several key regions, including the United States, South America, and West Africa.
- In the U.S., Hess has significant operations in the Bakken Formation in North Dakota and the deepwater Gulf of Mexico.
- Internationally, Hess has operations in countries such as Guyana, where it is a major player in the development of the Stabroek Block, and in Equatorial Guinea.
- Marketing and Refining:
- Hess previously had a refining and marketing segment, but it has been streamlined to focus primarily on exploration and production. The company sold its retail and refining operations in recent years to concentrate on its core E&P activities.
Strategy and Operations:
- Hess is known for its high-quality asset base and its commitment to operational excellence. The company emphasizes efficiency, cost management, and the development of its resource-rich assets.
- It has a strategic focus on reducing greenhouse gas emissions and improving sustainability practices across its operations.
Financials:
- Hess is publicly traded and regularly reports its financial performance, including revenues, net income, and capital expenditures. For up-to-date financial information, it is best to refer to the company’s latest earnings reports or financial statements available on their investor relations website.
Recent Developments:
- Hess has been actively involved in the development of Guyana’s oil fields, which are among the largest new discoveries in recent years. The company has a significant stake in the Stabroek Block, which is expected to contribute substantially to its production growth in the coming years.
Sustainability and ESG:
- Hess is committed to Environmental, Social, and Governance (ESG) practices. The company aims to reduce its carbon footprint and invest in technologies that improve energy efficiency and reduce emissions.
- The company’s sustainability reports detail its initiatives and progress in areas such as reducing greenhouse gas emissions, improving safety, and supporting local communities.
Contact Information:
- Website: Hess Corporation
- Address: Hess Corporation, 1185 Avenue of the Americas, New York, NY 10036, USA
- Investor Relations: Available on their website for financial reports, press releases, and other investor-related information.
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