Hess Corp

HES: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$875.00	Rwklqmj	Bqmlrjrzpz

Ongoing Discoveries Underscore the Growth Potential From Hess' Guyana Assets

Dave Meats

Feb 8, 2023

Business Strategy and Outlook

Hess' track record for efficiently allocating capital and generating value has been steadily improving. The company has deftly streamlined the portfolio, jettisoning less competitive and riskier positions in Equatorial Guinea, the Danish North Sea, and Libya, and shifting the focus to more lucrative oil and gas assets. Today the firm has two major growth assets, its 30% working interest in the Exxon-operated Stabroek block (offshore Guyana) and its acreage in the Bakken Shale play (U.S. onshore). Hess' ongoing investment in these regions is supported by cash flows from its legacy operations in the U.S. Gulf of Mexico and Southeast Asia.

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