Hess Company Review & Valuation
About Hess Corporation
Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas.
It operates through two segments, Exploration and Production, and Midstream.
The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.
As of December 31, 2017, it had total proved reserves of 1,154 million barrels of oil equivalent.
The company is also involved in crude oil and natural gas gathering, processing of natural gas and the fractionation of NGLs, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane primarily in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
The company was founded in 1920 and is headquartered in New York, New York.