H

Hess

Oil exploration and natural gas production

Overview

Hess is an energy company that explores for and produces crude oil and natural gas, with assets onshore in areas like the Bakken shale and offshore in deepwater locations such as the Stabroek Block off Guyana. Its products come from extracting oil and gas and selling them to industrial, commercial, and government customers. The company uses its high-quality acreage and strong infrastructure to optimize asset performance and control costs, focusing on production and development to maximize value. Hess also emphasizes corporate social responsibility, including climate stewardship and sustainability practices as part of its business approach. Its goal is to create value for shareholders by growing oil and gas production efficiently while managing costs and supporting responsible energy development.

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About Hess

Simplify's Rating
Why Hess is rated
C-
Rated C on Competitive Edge
Rated D+ on Growth Potential
Rated C on Differentiation

Industries

Industrial & ManufacturingEnergy

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

New York City, New York

Founded

1933

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What believers are saying

  • Guyana barrels now fund Chevron's growth, validating Hess's highest-value asset.
  • Chevron expected $1 billion annual synergies by end-2025 from Hess integration.
  • Former Hess employees gain access to Chevron's larger capital base and global projects.

What critics are saying

  • Chevron cut 575 Houston jobs after closing; more integration layoffs follow in 2026.
  • Hess no longer operates independently; Chevron now controls hiring, budgets, and promotions.
  • Exxon arbitration nearly killed the deal; future asset disputes can slow execution.

What makes Hess unique

  • Guyana Stabroek gave Hess 30% ownership of a world-class offshore discovery.
  • Bakken built Hess durable onshore cash flow and operational drilling expertise.
  • Chevron closed Hess on July 18, 2025, absorbing its assets and team.

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Funding

Total Funding

$12.9M

Above

Industry Average

Funded Over

2 Rounds

Post IPO Equity funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Equity Funding Comparison Coming Soon

Stock Price

Growth & Insights and Company News

6 month growth

-4%

1 year growth

-2%

2 year growth

-1%
State AG Report
Oct 8th, 2026
AG Davenport announces two natural resource damages settlements.

AG Davenport announces two natural resource damages settlements. * New Jersey AG Jennifer Davenport and Department of Environmental Protection (DEP) Commissioner Ed Potosnak announced two finalized natural resource damages (NRD) settlement agreements with Hess Corp. and Hercules LLC, which together are worth more than $20 million. The settlements resolve the state's claims concerning alleged environmental harm from hazardous substances and contaminants at multiple sites, and funds from both settlements will be used to restore the state's natural resources. * The Hess settlement will require the company to pay New Jersey $19.5 million to resolve its NRD liability arising from decades of alleged pollution at its former refinery in Port Reading, Woodbridge Township. The State reserves the right to file a later complaint against a larger set of defendants over off-site pollution in the Arthur Kill and Smith Creek. * Under the Hercules settlement, the company will pay $4.5 million to settle claims from a 2007 lawsuit for NRD resulting from alleged contamination at four sites. Hercules must also pay up to $50,000 for DEP costs associated with three conservation easements that are part of the consent judgment, by which Hercules will permanently preserve more than 600 acres of land for watershed protection, habitats, or aquifer recharge.

Shore News Network
Oct 5th, 2026
New Jersey secures more than $20 million in pollution settlements with Hess, Hercules.

New Jersey secures more than $20 million in pollution settlements with Hess, Hercules. New Jersey officials announced more than $20 million in environmental settlements with Hess and Hercules over alleged contamination at multiple sites across the state. The agreements resolve natural resource damage claims tied to alleged contamination at multiple sites and will also permanently preserve more than 600 acres across the state. TRENTON, NJ - New Jersey has finalized two major environmental settlements worth more than $20 million with Hess Corp. and Hercules LLC, resolving state claims over alleged pollution and damage to natural resources at sites across New Jersey. Attorney General Jennifer Davenport and Department of Environmental Protection Commissioner Ed Potosnak announced the agreements Monday, saying the money will be used to restore damaged natural resources. Hercules must also preserve more than 600 acres through conservation easements. "Environmental settlements like the two finalized today go beyond cleaning up past damages," Davenport said. "By requiring polluters to pay for damage to our natural resources and preserve lands for conservation, these actions give us hope that future generations will enjoy the clean and healthy environment that they deserve." The two consent judgments were entered in Superior Court in August and became final after a public comment period. Hess to pay $19.5 million over former Port Reading refinery. Under the larger settlement, Hess will pay New Jersey $19.5 million to resolve natural resource damage claims stemming from alleged pollution at its former refinery and storage facility in Port Reading, Woodbridge Township. Hess operated the 220-acre property from 1958 until selling it to Buckeye Partners in 2013. State officials alleged decades of spills and leaks released benzene, polychlorinated biphenyls, PFAS compounds and petroleum chemicals into groundwater, soil, wetlands and nearby waterways. The most significant incident cited by the state was a 1969 tank failure that allegedly released 8 million gallons of crude oil, affecting the Arthur Kill, Smith Creek, wetlands, soil and groundwater. The DEP, DEP commissioner and New Jersey Spill Compensation Fund sued Hess and Buckeye in 2018. The settlement resolves Hess' liability for natural resource damages associated with discharges on the Hess property, but the state is preserving its right to pursue separate claims against a broader group of defendants over off-site pollution affecting the Arthur Kill and Smith Creek. More information about the agreements is available through the New Jersey Attorney General's Office. Hercules to pay $4.5 million, preserve more than 600 acres. Hercules, a former chemical and munitions company, will pay $4.5 million to resolve claims stemming from alleged contamination at four sites. Those properties are located in Parlin in Middlesex County, Gibbstown in Gloucester County, and Kenvil and Chester in Morris County. Hercules must also pay up to $50,000 toward DEP costs associated with three conservation easements. Those easements will permanently protect about 645 acres, including 300 acres along the Old Bridge-Monroe border, 110 acres in Gibbstown and 235 acres in Kenvil. The preserved properties will be used for watershed protection, habitat conservation or aquifer recharge. State retains additional claims. The Hercules agreement does not end all potential state claims connected to the contaminated properties. New Jersey retains the right to pursue natural resource damage claims involving the Delaware River, past cleanup costs and future remediation expenses. The settlement also does not eliminate the defendants' continuing cleanup obligations at the affected sites. "Today's action reflects the Sherrill Administration's commitment to holding polluters accountable for damage to our state's precious natural resources," Potosnak said. "The settlements will result in the permanent protection of valuable resources and funds to restore natural resources so the public can once again benefit from their important ecological functions." The settlements add to ongoing environmental enforcement actions across New Jersey, including cases involving Middlesex County, Gloucester County and industrial contamination. New Jersey finalized pollution settlements worth more than $20 million with Hess and Hercules, including payments for restoration and 645 ares of preserved land.

Global Cosmetics News
Aug 17th, 2026
Kimberly-Clark appoints Suzana Blades as General Counsel ahead of Kenvue acquisition.

Kimberly-Clark appoints Suzana Blades as General Counsel ahead of Kenvue acquisition. THE WHAT? Kimberly-Clark has appointed Suzana Blades as Senior Vice President and General Counsel, effective September 1, 2026, as the company prepares for its pending acquisition of Kenvue. THE DETAILS Blades will join Kimberly-Clark's Executive Leadership Team and has also been named to the leadership team that will take effect following completion of the Kenvue acquisition. She has spent nearly four years at Kimberly-Clark and most recently served as Vice President & Deputy General Counsel, overseeing global litigation and investigations, government relations and legal operations, while also acting as General Counsel for the company's Natural Solutions business. Before joining Kimberly-Clark, Blades spent almost 12 years at ConocoPhillips and previously held roles at Hess Corporation and Arnold & Porter. THE WHY? The appointment strengthens Kimberly-Clark's senior leadership team at a significant point in its transformation, with the planned Kenvue acquisition set to substantially expand the company's position across consumer health and personal care. Blades' experience in global litigation, regulatory matters and enterprise risk management will be particularly relevant as the businesses prepare to combine.

GeoDrilling International
Jul 24th, 2026
XGS Energy strengthens leadership team.

XGS Energy strengthens leadership team. New COO and CPO appointed 24 July 2026 Geothermal power systems developer XGS Energy has strengthened its senior leadership team with the appointments of Al Vickers as Chief Operating Officer, and Kurt Fricker, Chief Procurement Officer. Alongside these appointments, Dr. Ghazal Izadi steps into the role of Chief Growth Officer, with responsibility for expanding XGS's global geothermal resource portfolio. The additions come hot on the heels of the recent hiring of CFO Richard Chong, former Vice President of Finance at Calpine. Al Vickers brings 30 years of energy industry experience to the role. At bp, he led world-scale drilling and completions and oil and gas production organisations across five continents. He is also served as CEO of bp's US Low Carbon Energy business and most recently as COO of Grid United, where he planned and developed numerous complex HVDC interregional transmission projects. New CPO Kurt Fricker joins XGS from Hess Corporation, where he managed a US$4 billion annual spend budget and transformed the supplier relationship, category management, asset operations, and contractor safety and performance teams. The new leaders join XGS as the company advances one of the largest geothermal development platforms in the U.S., with over 150,000 acres of site control across the western states, 300MW of which are offtaker commitments from Meta and CC Power, and execution and supply chain partnerships with Baker Hughes and Vallourec. "We are thrilled and humbled to welcome such superstars to our leadership team," said Josh Prueher, President & CEO of XGS.

The Edge Media Group
Jul 22nd, 2026
Velesto to provide drilling rig for Chevron Malaysia's North Malay Basin project

Velesto to provide drilling rig for Chevron Malaysia's North Malay Basin project. 22 Jul 2026, 07:13 pm The contract will see Velesto provide its Naga 8 drilling rig for Chevron Malaysia's 2026-2028 North Malay Basin full field development campaign. KUALA LUMPUR (July 22): Velesto Energy Bhd (KL:VELESTO) said it has secured a contact worth US$51 million (RM208.4 million) to provide integrated rig, drilling and completion (i-RDC) services for Chevron Malaysia's 2026-2028 North Malay Basin development campaign. The contract was awarded to its wholly-owned subsidiary Velesto Drilling Sdn Bhd by Chevron Malaysia's wholly-owned unit Hess Exploration and Production Malaysia BV, said Velesto in a bourse filing on Wednesday. The contract will see Velesto provide its Naga 8 drilling rig for Chevron Malaysia's 2026-2028 North Malay Basin full field development campaign. The project is expected to begin in August. Chevron Malaysia is a production arrangement contractor of national oil and gas company PETRONAS. This makes Velesto's second i-RDC contract under the North Malay Basin development programme, the company said. "This award reflects the strength of our integrated service offering and our commitment to delivering safe operations and service quality," said Velesto president Megat Zariman Abdul Rahim. Velesto's shares closed 2% higher at 26 sen on Wednesday, with a market capitalisation of RM 2.1 billion. Year to date, the counter is down 5.45%. Edited By S Kanagaraju Why Malaysia's AI Future Depends on Building Capability Artificial intelligence's evolution into a strategic capability hinges on countries building their own AI infrastructure. A recent US export control order suspending access to Anthropic's Claude Fable 5 highlights the risks of depending on foreign technology. Sovereign AI involves controlling core components like energy, data centers, cloud services, foundation models, and applications. Malaysia is uniquely positioned with assets across all these layers, positioning it as a leader in AI innovation and capability.

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