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Hess Corp
Hess Corporation, an enduring stalwart in the oil and gas industry, has navigated the volatile energy markets with resilience and strategic acumen. Born in the aftermath of the 1919 foundation of Hess Oil and Chemical by Leon Hess, the company has evolved from its early days of delivering heating oil and operating refinery services in New Jersey to becoming a dynamic global player in energy exploration and production. At the core of Hess's business model is the upstream sector, where the company focuses on finding and extracting oil and natural gas from reserves across the Americas, Gulf of Mexico, North Sea, and Asia Pacific. Through its robust operational capacity and technological prowess, Hess capitalizes on high-quality assets, producing crude oil and natural gas that fuels economies and supports its financial longevity.
Revenue generation at Hess is anchored in the sale of these hydrocarbons, driven by the intricate dynamics of global demand and commodity prices. The company maximizes returns by optimizing production processes and strategically investing in promising exploration projects, balancing the risks inherent in the energy sector with calculated investment. Beyond mere extraction, Hess distinguishes itself by emphasizing efficiency and sustainability, investing in emission reduction technologies and fostering a portfolio that can adapt to the world’s shifting energy landscape. This dual focus not only ensures profitability but also prepares Hess for future transitions within the energy domain, positioning it as a forward-thinking participant in a traditionally carbon-intensive industry.
Hess Corporation, an enduring stalwart in the oil and gas industry, has navigated the volatile energy markets with resilience and strategic acumen. Born in the aftermath of the 1919 foundation of Hess Oil and Chemical by Leon Hess, the company has evolved from its early days of delivering heating oil and operating refinery services in New Jersey to becoming a dynamic global player in energy exploration and production. At the core of Hess's business model is the upstream sector, where the company focuses on finding and extracting oil and natural gas from reserves across the Americas, Gulf of Mexico, North Sea, and Asia Pacific. Through its robust operational capacity and technological prowess, Hess capitalizes on high-quality assets, producing crude oil and natural gas that fuels economies and supports its financial longevity.
Revenue generation at Hess is anchored in the sale of these hydrocarbons, driven by the intricate dynamics of global demand and commodity prices. The company maximizes returns by optimizing production processes and strategically investing in promising exploration projects, balancing the risks inherent in the energy sector with calculated investment. Beyond mere extraction, Hess distinguishes itself by emphasizing efficiency and sustainability, investing in emission reduction technologies and fostering a portfolio that can adapt to the world’s shifting energy landscape. This dual focus not only ensures profitability but also prepares Hess for future transitions within the energy domain, positioning it as a forward-thinking participant in a traditionally carbon-intensive industry.
Earnings Calls
Management
John B. Hess is the Chief Executive Officer of Hess Corporation, an American global independent energy company engaged in the exploration and production of crude oil and natural gas. Born in 1954, John Hess is the son of Leon Hess, the founder of the company. He joined Hess Corporation full-time in 1977, after graduating with a Bachelor's degree from Harvard College and an MBA from Harvard Business School. Throughout his tenure, John Hess has been instrumental in transforming the company from a refining and marketing entity to a focused exploration and production business. Under his leadership, Hess Corporation has developed significant oil and gas production operations worldwide, with noteworthy activities in the Bakken formation in North Dakota, offshore operations in the Gulf of Mexico, and significant interests in emerging resources in Guyana. John Hess is known for his strategic vision, steering the company through significant financial and operational shifts, especially as global energy markets have evolved. In addition to his role at Hess Corporation, he has served on various corporate and public boards and is involved in numerous philanthropic endeavors, notably in education and healthcare.
Throughout his tenure, John Hess has been instrumental in transforming the company from a refining and marketing entity to a focused exploration and production business. Under his leadership, Hess Corporation has developed significant oil and gas production operations worldwide, with noteworthy activities in the Bakken formation in North Dakota, offshore operations in the Gulf of Mexico, and significant interests in emerging resources in Guyana.
John Hess is known for his strategic vision, steering the company through significant financial and operational shifts, especially as global energy markets have evolved. In addition to his role at Hess Corporation, he has served on various corporate and public boards and is involved in numerous philanthropic endeavors, notably in education and healthcare.
John P. Rielly, CPA, is a seasoned financial executive recognized for his pivotal role at Hess Corporation, where he has made significant contributions to the company's financial strategy and operations. Rielly serves as the Senior Vice President and Chief Financial Officer (CFO) at Hess Corporation, a leading global independent energy company primarily focused on the exploration and production of crude oil and natural gas. Before joining Hess, Rielly gained extensive experience in the energy sector through various leadership positions, providing him with a deep understanding of financial management, risk assessment, and strategic planning. His expertise as a Certified Public Accountant (CPA) has been instrumental in driving financial performance and ensuring regulatory compliance within Hess. In his role at Hess, Rielly is responsible for overseeing the company's financial functions, including accounting, treasury, tax, investor relations, and corporate strategy. He plays a critical role in shaping the company's financial policies and practices, contributing to Hess's overall business objectives. John P. Rielly's leadership and financial acumen have been crucial in helping Hess navigate the complexities of the energy industry, especially in times of economic fluctuation and market volatility. His strategic insights and dedication to financial excellence continue to bolster Hess Corporation's position as a leading entity in the energy sector. Rielly holds a bachelor’s degree from Boston College, further underpinning his strong foundation in finance and accounting.
Before joining Hess, Rielly gained extensive experience in the energy sector through various leadership positions, providing him with a deep understanding of financial management, risk assessment, and strategic planning. His expertise as a Certified Public Accountant (CPA) has been instrumental in driving financial performance and ensuring regulatory compliance within Hess.
In his role at Hess, Rielly is responsible for overseeing the company's financial functions, including accounting, treasury, tax, investor relations, and corporate strategy. He plays a critical role in shaping the company's financial policies and practices, contributing to Hess's overall business objectives.
John P. Rielly's leadership and financial acumen have been crucial in helping Hess navigate the complexities of the energy industry, especially in times of economic fluctuation and market volatility. His strategic insights and dedication to financial excellence continue to bolster Hess Corporation's position as a leading entity in the energy sector.
Rielly holds a bachelor’s degree from Boston College, further underpinning his strong foundation in finance and accounting.
Gregory P. Hill is the Chief Operating Officer and President of Exploration and Production at Hess Corporation, an American global independent energy company engaged in the exploration and production of crude oil and natural gas. Hill joined Hess in 2009 and has played a pivotal role in driving the company's operational strategies and performance. Before joining Hess, Hill had a distinguished career at Shell, where he worked for more than 25 years in various senior leadership positions, gaining extensive international experience in the oil and gas industry. His roles at Shell included Executive Vice President for Exploration and Production in the Asia-Pacific region, as well as leadership positions in Europe and the United States. Hill holds a Bachelor of Science degree in Mechanical Engineering from the University of Wyoming. He is recognized for his strategic leadership, extensive industry experience, and technical expertise, which have significantly contributed to Hess's success and growth, particularly in optimizing operational efficiency and advancing key projects, such as the development of resources in the Bakken shale formation and offshore resources in Guyana.
Before joining Hess, Hill had a distinguished career at Shell, where he worked for more than 25 years in various senior leadership positions, gaining extensive international experience in the oil and gas industry. His roles at Shell included Executive Vice President for Exploration and Production in the Asia-Pacific region, as well as leadership positions in Europe and the United States.
Hill holds a Bachelor of Science degree in Mechanical Engineering from the University of Wyoming. He is recognized for his strategic leadership, extensive industry experience, and technical expertise, which have significantly contributed to Hess's success and growth, particularly in optimizing operational efficiency and advancing key projects, such as the development of resources in the Bakken shale formation and offshore resources in Guyana.
Timothy B. Goodell J.D. is known for his role as the Executive Vice President, General Counsel, and Corporate Secretary of Hess Corporation, a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. In this capacity, Mr. Goodell is responsible for overseeing the company's global legal affairs, compliance, and corporate governance. He joined Hess Corporation in 2009 after an extensive legal career. Before joining Hess, he was a partner at the law firm of White & Case LLP, where he specialized in mergers and acquisitions and corporate governance, serving a diverse range of clients from various industries. His experience in legal practice provided a solid foundation for his role at Hess. As General Counsel, Mr. Goodell plays a critical role in advising the company's board and management on legal and regulatory matters, as well as guiding the company through complex legal challenges and transactions. His leadership has been instrumental in shaping the company's legal strategies in a highly dynamic and competitive energy sector. Timothy Goodell graduated with a Juris Doctor degree, underscoring his expertise and depth of knowledge in legal matters. His leadership in ethics and compliance underscores Hess Corporation's commitment to operating with integrity and adhering to the highest standards of corporate responsibility.
He joined Hess Corporation in 2009 after an extensive legal career. Before joining Hess, he was a partner at the law firm of White & Case LLP, where he specialized in mergers and acquisitions and corporate governance, serving a diverse range of clients from various industries. His experience in legal practice provided a solid foundation for his role at Hess.
As General Counsel, Mr. Goodell plays a critical role in advising the company's board and management on legal and regulatory matters, as well as guiding the company through complex legal challenges and transactions. His leadership has been instrumental in shaping the company's legal strategies in a highly dynamic and competitive energy sector.
Timothy Goodell graduated with a Juris Doctor degree, underscoring his expertise and depth of knowledge in legal matters. His leadership in ethics and compliance underscores Hess Corporation's commitment to operating with integrity and adhering to the highest standards of corporate responsibility.
Barbara J. Lowery-Yilmaz is a highly respected figure in the energy sector, recognized for her extensive expertise and leadership at Hess Corporation. She holds the position of Chief Exploration Officer at Hess Corp, where she plays a crucial role in guiding the company's exploration strategies. With a career spanning over several decades, Lowery-Yilmaz has been instrumental in advancing Hess's exploration capabilities and contributing to its portfolio's growth and success. Before joining Hess, she accumulated vast experience in the oil and gas industry, which provided her with the insights and skills required to navigate complex exploration projects. She is known for her strong analytical skills, strategic insights, and ability to lead diverse teams in achieving exploration and production goals. Lowery-Yilmaz's work has earned her respect and recognition within the industry, and she continues to be a key influencer and decision-maker at Hess Corporation, shaping the company's future in exploration and energy development.
Before joining Hess, she accumulated vast experience in the oil and gas industry, which provided her with the insights and skills required to navigate complex exploration projects. She is known for her strong analytical skills, strategic insights, and ability to lead diverse teams in achieving exploration and production goals.
Lowery-Yilmaz's work has earned her respect and recognition within the industry, and she continues to be a key influencer and decision-maker at Hess Corporation, shaping the company's future in exploration and energy development.
Richard Lynch is a well-regarded executive at Hess Corporation, a global independent energy company engaged in the exploration and production of crude oil and natural gas. He serves as the Senior Vice President and Chief Information Officer (CIO). In this role, Lynch is responsible for leading the company's information technology strategy and ensuring that technological advancements align with Hess's business goals. He plays a crucial role in driving digital transformation initiatives and managing IT operations to support the company’s global enterprise. Lynch’s leadership in IT enables Hess to leverage technology for operational efficiency, innovation, and competitive advantage in the energy sector.
Andrew P. Slentz is a seasoned executive known for his leadership in human resources within the energy sector. At Hess Corporation, he held the position of Executive Vice President and Chief Human Resources Officer. In this role, Slentz was responsible for overseeing all aspects of human resources, including talent management, organizational effectiveness, compensation and benefits, and the company’s diversity and inclusion strategy. Before joining Hess, Slentz had accumulated extensive experience in HR leadership positions across various industries. His strategic insight and commitment to developing organizational culture have been pivotal in driving the company’s HR initiatives to align with its business goals. Slentz is recognized for his ability to implement effective HR strategies that support employee engagement and enhance organizational performance. His educational background includes advanced degrees in business and human resources, which have provided a solid foundation for his career in HR leadership. His contribution to the field is marked by a focus on fostering a collaborative work environment and nurturing a high-performance culture.
Before joining Hess, Slentz had accumulated extensive experience in HR leadership positions across various industries. His strategic insight and commitment to developing organizational culture have been pivotal in driving the company’s HR initiatives to align with its business goals.
Slentz is recognized for his ability to implement effective HR strategies that support employee engagement and enhance organizational performance. His educational background includes advanced degrees in business and human resources, which have provided a solid foundation for his career in HR leadership. His contribution to the field is marked by a focus on fostering a collaborative work environment and nurturing a high-performance culture.
Jonathan C. Stein is the Executive Vice President and Chief Financial Officer (CFO) of Hess Corporation, a global independent energy company engaged in the exploration and production of crude oil and natural gas. As CFO, Stein oversees the company’s financial strategy, planning, and management, responsible for the corporation’s accounting, tax, treasury, investor relations, and corporate strategy functions. He joined Hess in 2021, bringing with him extensive experience in finance and leadership within the energy sector. Before joining Hess, he held significant roles at Goldman Sachs, including Managing Director and Head of Global Energy. During his tenure at Goldman Sachs, Stein advised numerous energy companies on mergers, acquisitions, and financial strategies, proving his capability and understanding of the industry’s complexities. Jonathan Stein holds a Bachelor of Science degree in Economics from the Wharton School at the University of Pennsylvania. His expertise in financial management and his strategic insight are instrumental in driving Hess Corporation's fiscal health and contributing to its growth objectives.
He joined Hess in 2021, bringing with him extensive experience in finance and leadership within the energy sector. Before joining Hess, he held significant roles at Goldman Sachs, including Managing Director and Head of Global Energy. During his tenure at Goldman Sachs, Stein advised numerous energy companies on mergers, acquisitions, and financial strategies, proving his capability and understanding of the industry’s complexities.
Jonathan Stein holds a Bachelor of Science degree in Economics from the Wharton School at the University of Pennsylvania. His expertise in financial management and his strategic insight are instrumental in driving Hess Corporation's fiscal health and contributing to its growth objectives.