Last €76.76 EUR
Change Today +0.73 / 0.96%
Volume 46.0
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Company Description

Contact Info

1185 Avenue of the Americas

40th Floor

New York, NY 10036

United States

Phone: 212-997-8500

Fax:

Hess Corporation, together with its subsidiaries, develops, produces, purchases, transports and sells crude oil and natural gas. The company’s total proved reserves were 1,437 million barrels of oil equivalent, as of December 31, 2013. EXPLORATION AND PRODUCTION United States At December 31, 2013, 46% of the company’s total proved reserves were located in the U.S. Its production in the U.S. was from offshore properties in the Gulf of Mexico and onshore properties principally in the Bakken oil shale play in the Williston Basin of North Dakota, as well as in the Permian Basin of Texas and the Utica Basin of Ohio. Onshore: In North Dakota, the company holds approximately 645,000 net acres in the Bakken, as of December 31, 2013. It owns the Tioga Gas Plant in North Dakota which had a processing capacity of approximately 110,000 mcf per day of natural gas during 2013. Other North Dakota infrastructure includes the Tioga rail terminal, 9 unit trains each with 104 cars, the Ramberg truck terminal, gas compression stations and related gathering lines. In the Utica shale play, the company owns a 100% interest in approximately 92,000 acres in the dry gas area. In January 2014, the corporation entered into an agreement to sell approximately 74,000 acres of this dry gas position. The company also owns a 50% undivided interest in CONSOL Energy Inc.’s (CONSOL) acreage in the Utica Basin. In the Permian Basin, the company operates and holds a 34% interest in the Seminole-San Andres Unit. In 2013, it sold its interests in the Eagle Ford shale play in Texas. Offshore: The company’s production offshore in the Gulf of Mexico was principally from the Shenzi, Llano, Conger, Baldpate, Hack Wilson, and Penn State fields. The company is an operator and holds a 20% interest in the Stampede offshore development project, which consists of the company’s Pony discovery and the third-party Knotty Head discovery. As of December 31, 2013, the company had interests in 207 blocks in the Gulf of Mexico, of which 178 were exploration blocks comprising approximately 700,000 net undeveloped acres, with an additional 66,000 net acres held for production and development operations. Europe In 2013, the company sold its Russian subsidiary, Samara-Nafta, and sold its interests in the Beryl fields, completing its exit from producing operations in the U.K. North Sea. Norway: The company’s Norwegian production was from its outside operated interests in the Valhall and Hod fields. United Kingdom: In 2013, the company sold its interests in the Beryl fields and the Scottish Area Gas Evacuation (SAGE) pipeline in the U.K. North Sea. Denmark: Production comes from the company’s operated interest in the South Arne Field, offshore Denmark. During 2013, the company completed its phase three development program in which two new wellhead platforms were successfully installed in the Field. Russia: The company’s activities in Russia were conducted through its interest in Samara-Nafta, a subsidiary operating in the Volga-Urals region. In 2013, the company sold this subsidiary. France: The company has interests in approximately 300,000 net acres in the Paris Basin. In 2013, it drilled three vertical wells, which were logged and cored. Africa Equatorial Guinea: The company is the operator and owns an interest in Block G, which contains the Ceiba Field and the Okume Complex. The national oil company of Equatorial Guinea holds a 5% carried interest in Block G. During 2013, the company completed three additional production wells at the Ceiba Field, which concluded the Ceiba Phase II drilling campaign. Libya: The company, in conjunction with its Oasis Group partners, has production operations in the Waha concessions in Libya which contain the Defa, Faregh, Gialo, North Gialo, Belhedan and other fields. It also owns a 100% interest in offshore exploration Area 54 in the Mediterranean Sea. Algeria: The company has a 49% interest in a venture with the Algerian national oil company that redeveloped three oil fields. In 2013, it sold its interest in the development project, Bir El Msana. Ghana: The company holds a 100% paying inter

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AHC

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Valuation AHC Industry Range
Price/Earnings 12.8x
Price/Sales 1.5x
Price/Book 1.3x
Price/Cash Flow 4.2x
TEV/Sales 1.1x
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