Hess Corp.

Hess Corp.

Hess Corp.

Overview
Date Founded

1920

Headquarters

1185 Avenue of the Americas, 40th Floor, New York, NY, 10036, USA

Type of Company

Public

Employees (Worldwide)

1,708

Industries

Oil & Gas
Power & Utilities

Company Description

Hess Corp is an exploration and production company, which engages in exploration, development, production, transportation, purchase & sale of crude oil, natural gas liquids and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream. The Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, natural gas liquids and natural gas. The Midstream segment provides fee-based 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, primarily in the Bakken shale play of North Dakota. The company was founded by Leon Hess in 1920 and is headquartered in New York, NY.

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Executives & Employees

Chief Executive Officer

Senior Vice President, Chief Financial & Accounting Officer

Senior Vice President, General Counsel, Corporate Secretary & Chief Compliance Officer

Senior Vice President & Chief Executive Officer, Hess LNG LLC

President & Chief Operating Officer, Exploration & Production

Controller

Chief Tax Executive

Treasurer

Assistant Treasurer

Senior Vice President-Exploration

Board of Directors

Former Senior Partner at Deloitte LLP

Chief Executive Officer at Hess Corp.

Penn Integrates Knowledge Professor of Population Health & Health Equity at University of Pennsylvania - School of Nursing

Director at Canadian National Railways

New Jersey Resources Corp.

Co-Founder at Owl Rock Capital Advisors LLC

Former Deputy Group Chief Executive & Managing Director at BP Plc

Former President at ConocoPhillips Canada Resources Corp.

Former Executive Vice President & Head-International Operations at Pioneer Natural Resources Co.

Former Executive Vice President & Head, Emerging Markets & International Affairs Group at Federal Reserve Bank of New York

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Hess Corp.
Owners & Shareholders
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EMC employs a multi-strategy trading approach that encompasses a broad range of strategies, including, without limitation, performing debt, distressed securities, hedge/arbitrage positions (including event arbitrage, related securities arbitrage, convertible arbitrage, commodities trading, and fixed income arbitrage trading), equity-oriented positions, basis trading, portfolio volatility protection positions, and real-estate related positions. The firm generally trades or invests in a wide variety of financial instruments, including, without limitation, stocks, bonds, swaps, options, futures, forwards, swaptions, private equity, and structured credit products, including MBS, ABS, CDOs and correlation products. Their trading mandates are extremely broad, and encompass virtually every type of asset, investment interest, security or property (real or personal) which can be traded or purchased. EMC is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

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Barrow, Hanley, Mewhinney & Strauss has a strict definition of value. Our equity portfolios exhibit below-market price-to-earnings ratios, below-market price-to-book ratios, and above-market dividend yields, regardless of market conditions. As a result, each of our clients is assured that we will do our part to maintain the style integrity of their overall portfolio. In fixed income, we define value as temporarily mispriced securities with yield-to-maturity advantages over Treasury bonds of comparable maturity. We identify each opportunity from the bottom up, building a duration-neutral portfolio designed to "out-yield" the market. In this way, Barrow Hanley seeks to achieve higher total returns for our fixed income clients with below-benchmark volatility. Mutual Fund Sub-Advisory Services Stability of investment team, strict adherence to style and uniformity of process are hallmarks of Barrow Hanley. Through an investment in a Barrow Hanley sub-advised mutual fund, individual investors are able to access the research-driven, bottom-up approach to active security selection that is utilized by major pension plans, foundations and endowments, and other institutional investors worldwide. Barrow Hanley currently serves as a sub-advisor to more than 30 equity and fixed income mutual funds. In addition to sub-advising an array of nationally-recognized mutual funds in the U.S., we sub-advise a number of internationally-based funds.

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H&W employs an active, team-based investment approach driven by fundamental research and bottom-up security selection. The firm offers value equity investment strategies across the market-cap spectrum, as well as strategies that emphasize income generation. Their investment focus is on equity securities, fixed-income securities, options, derivatives and other securities, depending on the investment objective of the client. H&W seek to invest in stocks whose future prospects are misunderstood or are not fully recognized by the market. For investments in fixed income securities, H&W develops an outlook for credit markets, interest rates, currency exchange rates and the economy, analyzes individual credit and call risks, and uses other security selection techniques. The proportion of assets allocated to investment in securities with particular characteristics (such as quality, sector, interest rate or maturity) varies based on the firm's outlook for the US economy and the economies of other countries in the world, the financial markets and other factors. H&W's capital income strategies invest in equity and high yield fixed income securities that generate current income and are attractively valued. The allocation between high yield and equity can vary over time depending on where the firm identifies compelling opportunities. For hedged value strategy, H&W invests in long and short positions in securities consisting principally, but not solely, of publicly traded US and non-US equity and equity-related securities. The firm may also invest in preferred stocks, private securities, convertible securities, warrants, options (including covered and uncovered puts and calls and overthe-counter options), futures, swaps and other derivative instruments, bonds and other fixed income securities, ETFs, mutual funds and money market instruments. They also engages in short selling, margin trading, hedging and other investment strategies. H&W is a signatory to the United Nations-supported Principles for Responsible Investment (UNPRI).

Recent Transactions
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Hess Midstream Partners LP purchases Hess Infrastructure Partners LP from Hess Corp., Global Infrastructure Management LLC

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Global Infrastructure Management LLC, Hess Infrastructure Partners LP purchase Hess Corp. /Bakken Water Bus from Hess Corp.

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Aker Energy AS purchases Hess Corp /Deepwater Tano Cape Three Points Block from Hess Corp.

Insider Transactions
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Transaction Advisors
Accountant

Advised onHess Corp. purchases Triton Energy Ltd.

Investment Advisor

Advised onCentrica Plc, Direct Energy Business LLC purchase Hess Corp. /Energy Marketing Business from Hess Corp.

Legal Advisor

Advised onHess Corp. purchases Triton Energy Ltd.

Legal Advisor

Advised onHess Corp. purchases American Oil & Gas, Inc. (Inactive)

Legal Advisor

Advised onHess Corp. purchases American Oil & Gas, Inc. (Inactive)

Legal Advisor

Advised onCentrica Plc, Direct Energy Business LLC purchase Hess Corp. /Energy Marketing Business from Hess Corp.

Advisors & Consultants
Advisor

Magellan International, L.P. is the adviser of choice among top professional services firms seeking guidance and counsel on talent acquisition. For over fifteen years, we have helped leading advisory services, management consulting, IT Services firms and Fortune 500 companies navigate the professional services talent pool. By acting as a trusted adviser to both clients and candidates, we leverage our deep experience to build long-standing relationships and facilitate executive level hires that are persistent.

Legal Advisor

Partner at Proskauer Rose LLP

Advisor

Partner at Debevoise & Plimpton LLP

Legal Advisor

Partner at Baker Botts LLP

Clients

PTT Public Co., Ltd. is a holding company, which engages in the development and exploration of gas properties. It operates through the following segments: Gas, Petro & Refine, Oil & Training, PTT Exploration and Production Public Company Limited (PTTEP), and Other. The Other segment offers coal. The company was founded on December 29, 1978 and is headquartered in Bangkok, Thailand.

Petroliam Nasional Bhd. operates as an investment holding company. It engages in the exploration of oil and gas, and marketing of petroleum & petroleum products. The company was founded on January 20, 1998 and is headquartered in Kuala Lumpur, Malaysia.

Key Stats and Financials As of 2018
Market Capitalization
$21B
Total Enterprise Value
$17.3B
Earnings Per Share
$-1.1
Revenue
$6.14B
Net Profit
$-282M
EBITDA
$2.47B
EBITDAMargin
40.21%
Total Debt
$6.67B
Total Equity
$10.9B
Enterprise Value Sales
2.82x
Enterprise Value EBITDAOperating
7.01x
TEVNet Income
-61.4x
Debt TEV
0.39x
Three Year Compounded Annual Growth Rate Of Revenue
-1.93%
Five Year Compounded Annual Growth Rate Of Revenue
-22.7%
Non-Profit Donations & Grants
Investments
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Hess Infrastructure Partners LP owns and operates natural gas processing and natural gas liquids fractionation infrastructure facility. The company was founded in 2015 and is headquartered in Wilmington, DE.

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Hess NEC LLC produces electricity power. The company is headquartered in Newark, NJ.

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Bayonne Energy Center LLC owns and operates an electric power plant. It engages in the production and supply of electricity. Bayonne Energy Center was founded in 2007 and is headquartered in Bayonne, NJ.

Investors
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EMC employs a multi-strategy trading approach that encompasses a broad range of strategies, including, without limitation, performing debt, distressed securities, hedge/arbitrage positions (including event arbitrage, related securities arbitrage, convertible arbitrage, commodities trading, and fixed income arbitrage trading), equity-oriented positions, basis trading, portfolio volatility protection positions, and real-estate related positions. The firm generally trades or invests in a wide variety of financial instruments, including, without limitation, stocks, bonds, swaps, options, futures, forwards, swaptions, private equity, and structured credit products, including MBS, ABS, CDOs and correlation products. Their trading mandates are extremely broad, and encompass virtually every type of asset, investment interest, security or property (real or personal) which can be traded or purchased. EMC is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

Suppliers
Hornbeck Offshore Services, Inc. (Louisiana) Marine Shipping | Covington, LA

Hornbeck Offshore Services, Inc. (Louisiana) engages in the provision of marine transportation services to exploration and production, oilfield service, offshore construction, and military customers. It owns and operates fleets of offshore support vehicles and multi-purpose support vehicles. The company was founded by Todd M. Hornbeck in June 1997 and is headquartered in Covington, LA.

H&R Real Estate Investment Trust Real Estate Investment Trusts | Toronto, ON

H&R Real Estate Investment Trust is an open-ended investment trust company, which engages in the ownership and management of retail properties, industrial properties, residential properties, and development properties. It operates through the following business segments: Office, Primaris, H&R Retail, ECHO, Industrial, and Lantower Residential. The company was founded on November 4, 1996 and is headquartered in Toronto, Canada.

SL Green Realty Corp. Trusts & Funds | New York, New York

SL Green Realty Corp. operates as a real estate investment trust. The firm engages in the acquisition, development, ownership, management and operation of commercial and residential real estate properties. It operates through the Real Estate, and Debt and Preferred Equity Investments business segments. The Real Estate segment consists of security, maintenance, utility costs, real estate taxes, and at certain properties ground rent expense. The Debt and Preferred Equity Investments segment includes cash flow from operations, cash on hand, and other forms of secured or unsecured financing. The company was founded by Stephen L. Green in June 1997 and is headquartered in New York, NY.

Awards & Honors
Rank #394
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #394
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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