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Hess Corporation
Stock Symbol: HES
1185 Avenue of the Americas
New York, NY 10036
212-997-8500 (phone)
212-536-8390 (fax)
Website: Hess
Industry: Oil & Gas - Integrated
Index Membership: S&P 500; S&P 1500 Super Comp
Amerada Hess Corporation Description:
Hess Corporation is a leading global independent energy company, engaged in the exploration and production of crude oil and natural gas, as well as in refining and in marketing refined petroleum products, natural gas, and electricity. Our vision is to maximize shareholder value by enhancing financial performance and providing long-term profitable growth. We are committed to meeting the highest standards of corporate citizenship by protecting the health and safety of our employees, safeguarding the environment and creating a long-lasting, positive impact on the communities in which we do business.
Amerada Hess Corporation Financial Summary:
August 2007 - Hess Corporation (the Corporation) is a global integrated energy company that operates in two segments, Exploration and Production (E&P) and Marketing and Refining (M&R). The E&P segment explores for, develops, produces, purchases, transports and sells crude oil and natural gas. The M&R segment manufactures, purchases, transports, trades and markets refined petroleum products, natural gas and electricity. Net income was $557 million for the second quarter of 2007, compared with $566 million in the second quarter of 2006.
Exploration and Production: E&P earnings were $505 million for the second quarter of 2007, compared with $501 million in the second quarter of 2006. Worldwide crude oil and natural gas production was 378,000 barrels of oil equivalent per day (boepd) in the second quarter of 2007 compared with 354,000 boepd in the same period of 2006. The Corporation anticipates that its production for the full year of 2007 will average between 370,000 and 380,000 boepd.
Amerada Hess Corporation Business Summary:
Hess Corporation, together with its subsidiaries, engages in the exploration, development, production, purchase, transportation, and sale of crude oil and natural gas. The company also manufactures, purchases, transports, trades, and markets refined petroleum, natural gas, and electricity, as well as offers distributed-electricity generating equipment to industrial and commercial customers. In addition, it owns a refinery through a 50% joint venture with HOVENSA L.L.C., as well as terminals and retail gasoline stations. The company markets its refined petroleum products to motoring public, wholesale distributors, petroleum companies, governmental agencies, and public utilities; and natural gas and electricity to utilities and other industrial and commercial customers. As of December 31, 2006, Hess Corporation had approximately 832 millions of barrels of crude oil and natural gas liquids; and 2,466 millions of thousand cubic feet of natural gas, as well as 1,350 HESS gasoline stations. The company was founded in 1920. It was formerly known as Amerada Hess Corporation and changed its name to Hess Corporation in 2006. Hess Corporation is based in New York, New York.
