Hess Corporation Overview
Pro stress-test →Hess Corporation was an independent integrated oil and gas company headquartered in New York that operated exploration and production assets across the Gulf of Mexico, the Bakken Shale, and Guyana. The company was acquired by Chevron in 2024 for $53 billion following arbitration favorable to Chevron against ExxonMobil, consolidating major upstream production assets.
Strategic Profile
Pro stress-test →Post-acquisition, Hess operations are now integrated within Chevron, creating one of the industry's largest deepwater and onshore portfolios. The combined entity benefits from Hess's significant positions in the high-margin Guyana production and substantial Gulf of Mexico acreage. The integration represents a major consolidation in U.S. upstream energy production.
Competitive Landscape
Pro stress-test →As a Chevron subsidiary post-acquisition, Hess competes within Chevron's portfolio against other major integrated oil and gas companies including ExxonMobil, Shell, and ConocoPhillips. The combined entity is positioned as one of the world's largest upstream producers with leading deep-water and onshore capabilities.
Industry Context
Hess Corporation operates in Upstream oil and gas exploration and production.
Key facts
Founded: 1920 · Headquarters: New York City, US · Employees: N/A · Revenue: N/A · Market cap: N/A