Hess Corp (HES) Company Profile | Reuters.com
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United States

Profile: Hess Corp (HES)

HES on New York Consolidated

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27 Jun 2016
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Hess Corporation (Hess), incorporated on February 7, 1920, is an exploration and production (E&P) company. The Company is engaged in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas. The Company's segments include E&P and Bakken Midstream. Its E&P segment is engaged in the sale of crude oil, natural gas liquids and natural gas. The Bakken Midstream segment provides services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, located in the Bakken shale play of North Dakota. The Company has production operations located in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand (JDA), Malaysia and Norway.

The Company's Bakken Midstream assets include Tioga gas plant, Tioga gas plant, Crude oil train units, Ramberg truck facility, Gathering pipelines and Gathering pipelines. The Tioga gas plant is a natural gas processing plant, which is located in Tioga, North Dakota. The plant has a cryogenic processing capacity of approximately 250 thousand cubic feet (mcf) per day (mmcfd) and integrated fractionation capacity (including ethane) of over 60,000 barrels of oil equivalent per day (boepd). The Tioga gas plant has a compressed natural gas (CNG) compression capacity of approximately 17,000 diesel equivalent gallons per day. The Tioga rail terminal is a crude oil and natural gas liquids rail loading facility located in Tioga, North Dakota, that includes a dual loop track with over 20 crude oil loading arms. The terminal has a crude oil loading capacity of approximately 140,000 barrels of oil per day (bopd), and an estimated natural gas liquids loading capacity of over 30,000 bopd. The terminal also has approximately three crude oil storage tanks with a combined shell storage capacity of over 287,000 barrels.

The Company holds interests in Hess Infrastructure Partners LP (HIP), which owns approximately 1,210 crude oil rail cars that operate as unit trains each consisting of 100 to 110 crude oil rail cars to provide crude oil transportation services to various delivery points in the East Coast, West Coast and Gulf Coast regions of the United States. The Ramberg truck facility is a crude oil truck unloading and pipeline receipt terminal that receives crude oil by pipeline or truck. The facility has a combined pipeline and truck receipt capability of approximately 176,000 bopd, and a redelivery capability of over 130,000 bopd through pipelines that connect to both the Tioga rail terminal and onto third-party pipelines. HIP owns approximately three distinct gathering systems, which collectively include over 3,000 miles of gathering pipelines and multiple compressor stations. These systems have a gross throughput capacity of over 200 mmcfd of gas and approximately 50,000 bopd of liquids. The Mentor storage terminal consists of a propane storage cavern, and rail and truck transloading facility located on approximately 40 acres in Mentor, Minnesota, with aggregate working storage capacity of approximately 328,000 barrels of oil equivalent (boe).

United States

The Company's production in the United States is from onshore properties, principally in the Bakken oil shale play in the Williston Basin of North Dakota, the Utica Basin of Ohio, the Permian Basin of Texas and offshore properties in the Gulf of Mexico. The Company holds approximately 583,000 net acres in the Bakken. The Company operated approximately 8.5 rigs, drilled over 180 wells, completed approximately 210 wells, and brought on production to over 220 wells, bringing the total operated production wells to approximately 1,200. It owns working interest in approximately 50,000 net acres in the wet gas area of the Utica Basin of Ohio. The Company has drilled approximately 20 wells, completed over 30 wells and bought approximately 30 wells. It operates and holds interest in the Seminole San Andres Unit in the Permian Basin.

The Company holds interests in approximately 110 blocks in the deepwater Gulf of Mexico. The Company's production offshore in the Gulf of Mexico is from the Tubular Bells, Shenzi, Llano, Conger, Baldpate, Hack Wilson and Penn State fields. In addition, it is an operator of the Stampede development project and has interests in non-operated exploration blocks, including Sicily and Melmar. The Company holds approximately 70 exploration blocks containing over 250,000 net undeveloped acres.

Africa

The Company has production from the Okume and Ceiba Fields at the Hess operated offshore Block G. At the Hess operated offshore Deepwater Tano/Cape Three Points license, it has drilled approximately seven exploration wells on the block.

Asia and Other

The Company's production in Malaysia comes from its interest in Block PM301, which is adjacent to and is unitized with Block A-18 of the JDA and its interest in Blocks PM302, PM325 and PM326B located in the North Malay Basin (NMB), offshore Peninsular Malaysia, where it operates a multi-phase natural gas development project. At the WA-390-P Block (Hess 100%) in the Carnarvon Basin, offshore Western Australia covering approximately 780,000 acres, it has drilled approximately 10 natural gas discoveries. It also has interest in approximately four exploration licenses offshore Nova Scotia.

Company Address

Hess Corp

1185 AVENUE OF THE AMERICAS
NEW YORK   NY   10036
P: +1212.9978500
F: +1302.6555049

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