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Hess Corporation Valuation Report, July 2010 – Strategic and Operational Analysis

Dallas, TX — (SBWIRE) — 01/01/2011 — Hess Corporation (Hess) is an integrated energy company engaged in Exploration & Production (E&P) and Marketing & Refining businesses globally. The company primarily focuses on the development of its E&P business to drive its future growth and support its overall oil and gas portfolio. However, in the last couple of years, Hess has disposed large portion of its mature E&P assets in Gulf of Mexico (GOM) and North Sea region in order to support its exploration program mainly in Australia, Brazil, Ghana, Libya, and Egypt. Apart from its exploration assets, the company has been strengthening the development on its producing assets including the Joint Development Area project in Thailand-Malaysia, Okume Complex and Ceiba fields in Equatorial Guinea, Ujung Pangkah field in Indonesia, Shenzi field in deepwater GOM and North Dakota Bakken shale. It has been anticipating additional production from its Shenzi field, Phase 2 development of Ujung Pangkah and Bakken shale assets in the coming years.

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