Hess

Hess Corporation (formerly Amerada Hess Corporation) is an American global independent energy company engaged in the exploration and production of crude oil and natural gas.[2] It was formed by the merger of Hess Oil and Chemical and Amerada Petroleum in 1968 led by Leon Hess. In 1995, his son John B Hess succeed him as chairman and CEO. Hess, headquartered in New York City, placed #394 in the 2016 list of Fortune 500 corporations.[3] In 2014, Hess completed a multi-year transformation to an exploration and production company by exiting all downstream operations, generating approximately $13 billion from assets sales beginning in 2013.[4] Hess sold its gas station network to Marathon Petroleum (which operates under the retail brand Speedway); sold its wholesale and retail oil, natural gas and electricity marketing business to Direct Energy; closed its refineries in Port Reading NJ and St. Croix USVI (Hovensa JV with PDVSA); sold its bulk storage and terminalling business mostly to Buckeye Partners; and sold its 50% interests in two New Jersey power plants to their respective JV partners (Bayonne Energy Center: ArcLight Capital and Newark Energy Center: Ares EIF). Hess also sold its 50% interest in its JV commodities trading arm HETCO (Hess Energy Trading Company) to Oaktree Capital. HETCO is now known as Hartree Partners

Hess Corp. is a global exploration and production company which engages in exploration, development, production, transportation, purchase and sale of crude oil, natural gas liquids, and natural gas with production operations. It operates the business through two segments: Exploration and Production; and Bakken Midstream. The Exploration and Production segment explores for, develops, produces, purchases and sells crude oil, natural gas liquids and natural gas with production operations. The Bakken Midstream segment provides fee-based services including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, terminaling and loading crude oil and natural gas liquids, transportation of crude oil by rail car and the storage and terminaling of propane. The company was founded by Leon Hess in 1920 and is headquartered in New York, NY.