UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-1204 Hess Corporation (Exact name of Registrant as specified in its charter) | DELAWARE | 13-4921002 | | --- | --- | | (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-1204 HESS CORPORATION (Exact Name of Registrant as Specified in Its Charter) DELAWARE (State or Other Jurisdiction of Incorporation or Organizatio ...

OPERATING RESULTS Items Affecting Comparability of Earnings - Income (Expense) Total items affecting comparability of earnings between periods (82) $ - $ - $ Reported Net Income, Items Affecting Comparability and * The Corporation has used a non-GAAP financial measure in this supplemental earnings information. "Adjusted Net Income" presented throughout this supplemental information is defined as reported net income attributable to Hess Corporation excluding items identified as affecting comparability of ear ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2023 1185 AVENUE OF THE AMERICAS, NEW YORK, NY or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-1204 HESS CORPORATION (Exact Name of Registrant as Specified in Its Charter) DELAWARE (State or Other Jurisdi ...

Hess Corporation (NYSE:HES) Q2 2023 Earnings Conference Call July 26, 2023 10:00 AM ET Company Participants Jay Wilson - Vice President of Investor Relations John Hess - Chief Executive Officer Greg Hill - Chief Operating Officer John Rielly - Chief Financial Officer Conference Call Participants Doug Leggate - Bank of America Arun Jayaram - JPMorgan Paul Cheng - Scotiabank Ryan Todd - Piper Sandler Neil Mehta - Goldman Sachs Roger Read - Wells Fargo Kevin MacCurdy - Pickering Energy Partners Biju Perincheri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-1204 HESS CORPORATION (Exact Name of Registrant as Specified in Its Charter) DELAWARE (State or Other Jurisdiction of Incorporation or Organization) 1 ...

Hess Corporation (NYSE:HES) Q1 2023 Earnings Conference Call April 26, 2023 10:00 AM ET Company Participants Jay Wilson - Vice President, Investor Relations John Hess - Chief Executive Officer Greg Hill - Chief Operating Officer John Rielly - Chief Financial Officer Conference Call Participants Ryan Todd - Piper Sandler Doug Leggate - Bank of America Neil Mehta - Goldman Sachs Paul Cheng - Scotiabank Noel Parks - Tuohy Brothers Arun Jayaram - JPMorgan Operator Good day, ladies and gentlemen, and welcome to ...

Supplemental Earnings Information 1 HESS Reported Net Income, Items Affecting Comparability and Adjusted Net Income by Operating Activity Exploration and Production $ - $ - $ 76 Total items affecting comparability of earnings between periods $ - $ 13 $ (25) 2 * The Corporation has used a non-GAAP financial measure in this supplemental earnings information. "Adjusted Net Income" presented throughout this supplemental information is defined as reported net income attributable to Hess Corporation excluding ite ...

Production Capacity and Reserves - Hess Corporation plans to have six Floating Production Storage and Offloading (FPSO) units with an aggregate expected production capacity of over 1.2 million gross barrels of oil per day (bopd) on the Stabroek Block by 2027[31]. - The company has a 30% interest in the Stabroek Block offshore Guyana, where significant resource discoveries have been made, with potential for up to ten FPSOs to develop the current discovered recoverable resource base[31]. - Proved reserves at December 31, 2022, totaled 1,256 million barrels of oil equivalent (boe), a decrease from 1,309 million boe in 2021[33]. - Proved undeveloped reserves accounted for 43% of total proved reserves on a boe basis as of December 31, 2022, up from 41% in 2021[34]. - The Stabroek Block in Guyana is expected to support up to ten Floating Production Storage and Offloading (FPSO) units, with first production from the Payara development anticipated by the end of 2023[41][43]. - The Liza Phase 1 development reached an expanded production capacity of over 140,000 gross barrels of oil per day (bopd) in June 2022[42]. - The Liza Phase 2 development in Guyana reached its expected production capacity of 220,000 gross bopd in July 2022[42]. - The Payara development project in Guyana is expected to have a production capacity of approximately 220,000 gross bopd, with first production anticipated by the end of 2023[43]. Exploration and Development Activities - In 2023, the company plans to operate four rigs in the Bakken, drilling approximately 110 wells and bringing the same number on production[39]. - The company drilled a total of ten successful exploration and appraisal wells in Guyana in 2022, with plans for six drillships to drill approximately ten exploration and appraisal wells in 2023[46][47]. - The company holds a 33% non-operated interest in Block 42 offshore Suriname, where an exploration well encountered oil pay in 2022[50]. - The company holds a 25% non-operated participating interest in two exploration licenses offshore Newfoundland, with plans to drill one exploration well in 2023[51]. - In 2023, Hess Corporation plans to drill approximately eight development wells in the Malaysia/Thailand Joint Development Area[48]. Production and Pricing - Worldwide crude oil production in 2022 was 70,676 thousand barrels, an increase from 59,602 thousand barrels in 2021[36]. - Average selling prices for crude oil per barrel in the United States increased from $56.64 in 2021 to $81.14 in 2022, representing a 43.4% increase[55]. - Average production costs per barrel of oil equivalent in the United States rose from $23.27 in 2021 to $28.16 in 2022, an increase of 21.0%[55]. - The average selling price for natural gas in the United States increased from $3.82 per Mcf in 2021 to $5.66 per Mcf in 2022, a rise of 48.3%[55]. Midstream Operations - Hess Corporation holds approximately 41% consolidated ownership interest in Hess Midstream LP, providing fee-based services in the Bakken shale play[32]. - Hess Midstream's public shareholders owned approximately 18% of the consolidated entity, while Hess and GIP each owned about 41% as of December 31, 2022[70]. - The natural gas gathering and compression system in North Dakota has a capacity of approximately 590 mmcfd, with 85 mmcfd of compression capacity added in 2022[71]. - Hess Midstream has long-term, fee-based commercial agreements with Hess subsidiaries, effective January 1, 2014, with an initial ten-year term[72]. - The Tioga Gas Plant's total processing capacity is approximately 400 mmcfd, with an NGL fractionation capacity of about 60,000 boepd[74]. - In 2022, the total processing capacity of the Tioga Gas Plant became available, following an expansion from 250 mmcfd to 400 mmcfd[74]. - Hess Midstream LP owns a 50% interest in the Little Missouri 4 natural gas processing plant, which has a processing capacity of approximately 200 mmcfd[74]. Environmental and Social Responsibility - The company spent approximately $23 million in 2022 for environmental remediation[85]. - The total percentage of women in the workforce remained at 27% in 2022, while minorities constituted 25% of U.S. based employees[93]. - The DEI Council at Hess drives progress in diversity, equity, and inclusion, with a focus on fostering a sustainable culture of inclusion[91]. - Hess's strategic focus on DEI has led to maintained or improved diversity across most workforce levels in 2022[92]. - The company has implemented a hybrid work schedule to adapt to changing work environments and prioritize employee well-being[89]. Leadership and Governance - The Corporation's Chief Executive Officer, John B. Hess, has over 45 years of experience in the oil and gas industry, having been with the Corporation since 1977 and serving as CEO since 1995[95]. - Gregory P. Hill has been the President and Chief Operating Officer since 2014, with a total of 25 years of experience at Royal Dutch Shell prior to joining the Corporation in 2009[95]. - The Corporation's Chief Financial Officer, John P. Rielly, has been in this role since 2004 and has a background as a Partner at Ernst & Young, LLP for 17 years[95]. - The Corporation's executive officers have extensive experience, with most having been employed in managerial and executive roles for over five years[96]. - The Corporation's governance documents, including the Code of Business Conduct and Ethics, are available on its website, promoting corporate governance standards[97]. Financial Transparency and Risk Management - The Corporation provides free access to its annual report on Form 10-K and quarterly reports on Form 10-Q through its website, ensuring transparency and compliance with SEC regulations[97]. - The Corporation's forward-looking statements include projections about future financial and operational results, which are subject to various risks and uncertainties[10]. - Key risks affecting the Corporation's operations include fluctuations in market prices of crude oil and natural gas, reduced demand for products, and potential regulatory changes[11]. - The Corporation emphasizes the importance of sustainability goals and initiatives in its business strategy, addressing environmental concerns and climate change[11]. - The Corporation's operational strategies are influenced by market conditions, including competition in the oil and gas exploration and production industry[11].

Supplemental Earnings Information Fourth Quarter 2022 HESS OPERATING RESULTS 1 Reported Net Income, Items Affecting Comparability and Adjusted Net Income by Operating Activity Items Affecting Comparability of Earnings - Income (Expense) Exploration and Production $ 76 $ - $ (54) Midstream - - - Corporate and Other - - (14) Total items affecting comparability of earnings between periods $ 76 $ - $ (68) | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------- ...