2011 annual report

 

OUR GLOBAL OPERATIONS
We continue to make significant progress in increasing our crude oil and natural gas reserves, acquiring strategic acreage and positioning our company for long term profitable growth.
EXPLORATION AND PRODUCTION HIGHLIGHTS
  • Doubled Bakken production to 30 mboe/d despite harsh winter weather and severe spring floods
  • Executed strategic entry into emerging Utica Shale play in Ohio where Hess now has nearly 200,000 net acres
  • Sanctioned the Hess operated Tubular Bells development in the deepwater Gulf of Mexico
  • Encountered 490 feet of net hydrocarbon pay at the Hess operated Paradise-1 well in Ghana
  • Acquired two promising exploration blocks in the Kurdistan Region of Iraq covering a combined area of approximately 670 square miles
MARKETING AND REFINING HIGHLIGHTS
  • Advanced construction of a 512-megawatt natural gas fired power plant in Bayonne, NJ which when operational in 2012 will generate enough electricity to power 500,000 homes in the New York City area
  • Expanded Supply and Terminals marine diesel fuel sales to include Philadelphia harbor
  • Opened three new Hess Express locations and expanded our Dunkin' Donuts offering to a total of 555 sites
  • Achieved outstanding safety performance
  • Closed HOVENSA joint venture refinery in St. Croix, U.S. Virgin Islands after three years of losses