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Zmags
2016 ANNUAL REPORT
Table of
Contents
1 Financial and Operating Highlights
2 Letter to Shareholders
5 Global Operations
9 Social Responsibility
12 Board of Directors and Corporate Officers
Our
Company
Hess Corporation is a leading global independent energy company engaged in the exploration
and production of crude oil and natural gas.
We are committed to meeting the highest standards of corporate citizenship by protecting the
health and safety of our employees, safeguarding the environment and making a positive impact
on the communities in which we do business.
Cover: Drilling Operations, North Dakota
Financial and
Operating Highlights
HESS CORPORATION
Amounts in millions, except per share data
Financial — for the year 2016
2016 ANNUAL REPORT
Table of Contents 1 Financial and Operating H
Financial and Operating Highlights HESS CORPORATI
Letter to Shareholders Throughout 2016, our str
from operations, before changes in working capita
Stampede Facility Integration, Ingleside, Texas
Global Operations Production In 2016, net pr
Developments At the North Malay Basin project in
Exploration Hess has a 30 percent working interes
Hess-Sponsored School, Equatorial Guinea
Social Responsibility Sustainability practices
Remote Onshore Drilling Control Room, Houston, Te
We rolled out stakeholder engagement and grievanc
Hess Corporation Board of Directors James H.
ANNUAL REPORT FORM 10-K
UNITED STATES SECURITIES AND EX
HESS CORPORATION Form 10-K TABLE O
Glossary Throughout this report, the following c
Production sharing contract – An agreement betwee
PART I Items 1 and 2. Business and Properties
For additional information regarding our prove
2016 2015 2014 Nat
A description of our significant operations
Asia and Other Malaysia/Thailand Joint Develop
Selling Prices and Production Costs The foll
Gross and Net Undeveloped Acreage At Decembe
Bakken Midstream In July 2015, we sold a 50%
Hess North Dakota Export Logistics Operations LP
Other Items Emergency Preparedness and Response P
Variations may include indemnity exclusions to th
Item 1A. Risk Factors Our business activities
Moreover, parties to these agreements may be unab
sales volumes, revenues and margins. The imposit
our cash flows and results of operations. We rout
On January 18, 2017, we entered into a Consent
PART II Item 5. Market for the Registrant's Comm
Holders At December 31, 2016, there were 3,42
Item 6. Selected Financial Data The following i
Item 7. Management's Discussion and Analysis of F
Significant 2016 Activities The following is an u
Other E&P assets: At the Hess operated Stampe
Liquidity, and Capital and Exploratory Expenditur
Consolidated Results of Operations The after-tax
Comparison of Results Exploration and Production
Selling Prices: Average realized crude oil sel
Production Volumes: Our net daily worldwide produ
on third-party hosted production facilities at th
Unit costs: Unit cost per boe information is b
The pre-tax amounts of E&P items affecting comp
surplus drilling materials based on future
Operating costs and expenses were lower in 20
Exit costs and other: We recorded pre-tax exi
Cash Flows The following table sets forth a
Future Capital Requirements and Resources At
Credit Ratings Two of the three major credit r
Critical Accounting Policies and Estimates Acc
governance structure, the commercial agreements b
As there are significant differences in the w
legally required conditional asset retirement obl
Environment, Health and Safety Our long term
Item 7A. Quantitative and Qualitative Disclosures
Item 8. Financial Statements and Supplementary Da
Management's Report on Internal Control over Fina
Report of Independent Registered Public Accountin
Report of Independent Registered Public Accountin
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
HESS CORPORATION AND CONSOLIDATED SUBSIDIA
Results of Operations for Oil and Gas Producing A
(b) Results of operations for oil and gas produci
petroleum consulting services throughout the worl
Following are the Corporation's proved reserves:
Natural Gas
Extensions, discoveries and other additions (`Add
Proved Undeveloped Reserves Following are the Co
Transfers to proved developed reserves (`Transfer
amount of tax deductions, credits, and allowances
Changes in Standardized Measure of Discounted Fut
HESS CORPORATION AND CONSOLIDATED SUBSIDIARIES
Item 9. Changes in and Disagreements with Account
Executive Officers of the Corporation The followi
Lowery-Yilmaz served in senior executive position
PART IV Item 15. Exhibits, Financial Statement S
SIGNATURES Pursuant to the requirements of S
Schedule II HESS CORPORATION AND CONSOLIDATED SU
EXHIBIT INDEX 3(1) Restated Certificate o
4(13) Deposit Agreement, dated as of February
10(15)* Compensation program description for
Exhibit 21 HESS CORPORATION AND CONSOLIDATED SUB
Registrant Name of Company
Exhibit 23(1) Consent of Independent Registered
Exhibit 23(2) DEGOLYER AND MACNAUGHTON 500
Exhibit 31(1) I, John B. Hess, certify that:
Exhibit 31(2) I, John P. Rielly, certify that:
Exhibit 32(1) CERTIFICATION PURSUANT TO
Exhibit 32(2) CERTIFICATION PURSUANT TO
DeGolyer and MacNaughton Board of Direc
DeGolyer and MacNaughton
DeGolyer and MacNaughton
DeGolyer and MacNaughton
DeGolyer and MacNaughton
DeGolyer and MacNaughton
Common Stock Listed New York Stock Exchange (tick
www.hess.com