Hess (HES) 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	HES
Entity Registrant Name	HESS CORP
Entity Central Index Key	4,447
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	287,057,761

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 931	$ 2,444
Accounts receivable
Trade	1,492	1,642
Other	302	431
Inventories	569	527
Other current assets	632	1,643
Total current assets	3,926	6,687
PROPERTY, PLANT AND EQUIPMENT
Total — at cost	47,878	46,522
Less: Reserves for depreciation, depletion, amortization and lease impairment	20,580	19,005
Property, plant and equipment — net	27,298	27,517
GOODWILL	1,473	1,858
DEFERRED INCOME TAXES	2,504	2,169
OTHER ASSETS	357	347
TOTAL ASSETS	35,558	38,578
CURRENT LIABILITIES
Accounts payable	616	708
Accrued liabilities	2,495	3,781
Taxes payable	313	294
Current maturities of long-term debt	69	68
Total current liabilities	3,493	4,851
LONG-TERM DEBT	5,888	5,919
DEFERRED INCOME TAXES	1,825	2,009
ASSET RETIREMENT OBLIGATIONS	2,011	2,281
OTHER LIABILITIES AND DEFERRED CREDITS	1,238	1,198
Total liabilities	14,455	16,258
Hess Corporation stockholders’ equity
Common stock, par value $1.00. Authorized - 600,000,000 shares. Issued - 287,057,761 shares at June 30, 2015; 285,834,964 shares at December 31, 2014	287	286
Capital in excess of par value	3,329	3,277
Retained earnings	18,923	20,052
Accumulated other comprehensive income (loss)	(1,436)	(1,410)
Total Hess Corporation stockholders' equity	21,103	22,205
Noncontrolling interests	0	115
Total equity	21,103	22,320
TOTAL LIABILITIES AND EQUITY	$ 35,558	$ 38,578

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	287,057,761	285,834,964

Statement of Consolidated Incom

Statement of Consolidated Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES AND NON-OPERATING INCOME
Sales and other operating revenues	$ 1,953	$ 2,829	$ 3,491	$ 5,502
Gains on asset sales, net	0	779	0	789
Other, net	(18)	(25)	(6)	(116)
Total revenues and non-operating income	1,935	3,583	3,485	6,175
COSTS AND EXPENSES
Cost of products sold (excluding items shown separately below)	356	421	634	785
Operating costs and expenses	503	545	1,009	1,040
Production and severance taxes	45	78	81	140
Exploration expenses, including dry holes and lease impairment	90	460	359	579
General and administrative expenses	151	143	298	285
Interest expense	86	85	171	166
Depreciation, depletion and amortization	1,028	785	1,984	1,511
Impairment	385	0	385	0
Total costs and expenses	2,644	2,517	4,921	4,506
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(709)	1,066	(1,436)	1,669
Provision (benefit) for income taxes	(156)	92	(507)	331
INCOME (LOSS) FROM CONTINUING OPERATIONS	(553)	974	(929)	1,338
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	(14)	(44)	(27)	13
NET INCOME (LOSS)	(567)	930	(956)	1,351
Less: Net income (loss) attributable to noncontrolling interests	0	(1)	0	34
NET INCOME (LOSS) ATTRIBUTABLE TO HESS CORPORATION	$ (567)	$ 931	$ (956)	$ 1,317
BASIC:
Continuing operations	$ (1.94)	$ 3.15	$ (3.27)	$ 4.26
Discontinued operations	(0.05)	(0.14)	(0.10)	(0.07)
NET INCOME (LOSS) PER SHARE	(1.99)	3.01	(3.37)	4.19
DILUTED:
Continuing operations	(1.94)	3.10	(3.27)	4.20
Discontinued operations	(0.05)	(0.14)	(0.10)	(0.07)
NET INCOME (LOSS) PER SHARE	$ (1.99)	$ 2.96	$ (3.37)	$ 4.13
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (DILUTED)	284.3	314.1	283.9	318.7
COMMON STOCK DIVIDENDS PER SHARE	$ 0.25	$ 0.25	$ 0.50	$ 0.50

Statement of Consolidated Compr

Statement of Consolidated Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (567)	$ 930	$ (956)	$ 1,351
Derivatives designated as cash flow hedges
Effect of hedge (gains) losses reclassified to income	0	(5)	0	(10)
Income taxes on effect of hedge (gains) losses reclassified to income	0	2	0	4
Net effect of hedge (gains) losses reclassified to income	0	(3)	0	(6)
Change in fair value of cash flow hedges	(18)	(40)	2	(26)
Income taxes on change in fair value of cash flow hedges	6	15	(1)	10
Net change in fair value of cash flow hedges	(12)	(25)	1	(16)
Change in derivatives designated as cash flow hedges, after taxes	(12)	(28)	1	(22)
Pension and other postretirement plans
(Increase) reduction in unrecognized actuarial losses	(15)	(4)	(15)	(4)
Income taxes on actuarial changes in plan liabilities	6	2	6	2
(Increase) reduction in unrecognized actuarial losses, net	(9)	(2)	(9)	(2)
Amortization of net actuarial losses	25	15	44	23
Income taxes on amortization of net actuarial losses	(8)	(5)	(14)	(8)
Net effect of amortization of net actuarial losses	17	10	30	15
Change in pension and other postretirement plans, after taxes	8	8	21	13
Foreign currency translation adjustment
Foreign currency translation adjustment	72	(88)	(48)	(37)
Change in foreign currency translation adjustment	72	(88)	(48)	(37)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	68	(108)	(26)	(46)
COMPREHENSIVE INCOME (LOSS)	(499)	822	(982)	1,305
Less: Comprehensive income (loss) attributable to noncontrolling interests	0	(1)	0	34
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO HESS CORPORATION	$ (499)	$ 823	$ (982)	$ 1,271

Statement of Consolidated Cash

Statement of Consolidated Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (956)	$ 1,351
Adjustments to reconcile net income (loss) to net cash provided by operating activities
(Gains) losses on asset sales, net	0	(789)
Depreciation, depletion and amortization	1,984	1,511
Impairment	385	0
Loss from equity affiliates	0	84
Exploratory dry hole costs	176	286
Exploration lease impairment	78	161
Stock compensation expense	51	40
Provision (benefit) for deferred income taxes	(534)	72
(Income) loss from discontinued operations, net of income taxes	27	(13)
Changes in operating assets and liabilities	(114)	(596)
Cash provided by (used in) operating activities - continuing operations	1,097	2,107
Cash provided by (used in) operating activities - discontinued operations	(21)	(46)
Net cash provided by (used in) operating activities	1,076	2,061
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment	(2,423)	(2,340)
Proceeds from asset sales	0	2,847
Other, net	(13)	(124)
Cash provided by (used in) investing activities - continuing operations	(2,436)	383
Cash provided by (used in) investing activities - discontinued operations	95	(405)
Net cash provided by (used in) investing activities	(2,341)	(22)
Debt with maturities of greater than 90 days
Borrowings	0	598
Repayments	(34)	(500)
Common stock acquired and retired	(78)	(1,735)
Cash dividends paid	(144)	(156)
Employee stock options exercised, including income tax benefits	10	148
Noncontrolling interests, net	0	(1)
Other, net	(2)	0
Cash provided by (used in) financing activities - continuing operations	(248)	(1,646)
Cash provided by (used in) financing activities - discontinued operations	0	(2)
Net cash provided by (used in) financing activities	(248)	(1,648)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(1,513)	391
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	2,444	1,814
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 931	$ 2,205

Statement of Consolidated Equit

Statement of Consolidated Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Capital in Excess of Par [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Hess Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning balance at Dec. 31, 2013	$ 24,784	$ 325	$ 3,498	$ 21,235	$ (338)	$ 24,720	$ 64
Net income (loss)	1,351			1,317		1,317	34
Other comprehensive income (loss)	(46)				(46)	(46)	0
Comprehensive income (loss)	1,305					1,271	34
Activity related to restricted common stock awards, net	29	1	28			29
Employee stock options, including income tax benefits	150	3	147			150
Performance share units	8		8			8
Cash dividends declared	(156)			(156)		(156)
Common stock acquired and retired	(1,765)	(21)	(227)	(1,517)		(1,765)
Noncontrolling interests, net	(1)						(1)
Ending balance at Jun. 30, 2014	24,354	308	3,454	20,879	(384)	24,257	97
Beginning balance at Dec. 31, 2014	22,320	286	3,277	20,052	(1,410)	22,205	115
Net income (loss)	(956)			(956)		(956)	0
Other comprehensive income (loss)	(26)				(26)	(26)	0
Comprehensive income (loss)	(982)					(982)	0
Activity related to restricted common stock awards, net	36	2	34			36
Employee stock options, including income tax benefits	12		12			12
Performance share units	12		12			12
Cash dividends declared	(144)			(144)		(144)
Common stock acquired and retired	(36)	(1)	(6)	(29)		(36)
Noncontrolling interests, net	(115)						(115)
Ending balance at Jun. 30, 2015	$ 21,103	$ 287	$ 3,329	$ 18,923	$ (1,436)	$ 21,103	$ 0

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	1. The financial statements included in this report reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the Corporation’s consolidated financial position at June 30, 2015 and December 31, 2014, the consolidated results of operations for the three months and six months ended June 30, 2015 and 2014, and consolidated cash flows for the six months ended June 30, 2015 and 2014. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. The financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by U.S. generally accepted accounting principles (GAAP) have been condensed or omitted from these interim financial statements. These statements, therefore, should be read in conjunction with the consolidated financial statements and related notes included in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2014. The statements of consolidated income for the three months and six months ended June 30, 2014 and consolidated cash flows for the six months ended June 30, 2014, have been recast to reflect the Corporation’s energy trading joint venture, HETCO, which was sold in February 2015, as discontinued operations. In Note 12, Segment Information Note 14, Subsequent Event Notes to Consolidated Financial Statements New Accounting Pronouncements: In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . The ASU amends the criteria for reporting discontinued operations to include only disposals representing a strategic shift in operations. The ASU also requires expanded disclosures regarding the assets, liabilities, income, and expenses of discontinued operations. This ASU became effective for the Corporation in the first quarter of 2015 and did not have a significant impact on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , with early adoption permitted In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis , with early adoption permitted In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , with early adoption permitted

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations	2. Discontinued Operations The results of operations for the Corporation’s divested energy trading joint venture, HETCO, which was sold in February 2015, and other previously divested downstream businesses have been reported as discontinued operations in the Statement of Consolidated Income for all periods presented. Sales and other operating revenues and Income (loss) from discontinued operations were as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In millions) Sales and other operating revenues $ — $ 3,083 $ 14 $ 6,250 Income (loss) from discontinued operations before income taxes $ (19 ) $ (67 ) $ (43 ) $ 6 Current tax provision (benefit) — — — — Deferred tax provision (benefit) (5 ) (23 ) (16 ) (7 ) Provision (benefit) for income taxes (5 ) (23 ) (16 ) (7 ) Income (loss) from discontinued operations, net of income taxes $ (14 ) $ (44 ) $ (27 ) $ 13 Less: Net income (loss) attributable to noncontrolling interests — (1 ) — 34 Income (loss) from discontinued operations attributable to Hess Corporation $ (14 ) $ (43 ) $ (27 ) $ (21 ) At December 31, 2014, HETCO assets totaling $1,035 million, which consisted of accounts receivable and other long‑lived assets, were reported in Other current assets, and liabilities totaling $797 million, which consisted primarily of accounts payable, were reported in Accrued liabilities in the Consolidated Balance Sheet.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	3. Inventories Inventories consisted of the following: June 30, December 31, 2015 2014 (In millions) Crude oil and natural gas liquids $ 289 $ 246 Materials and supplies 280 281 Total inventories $ 569 $ 527

Capitalized Exploratory Well Co

Capitalized Exploratory Well Costs	6 Months Ended
	Jun. 30, 2015
Capitalized Exploratory Well Costs [Abstract]
Capitalized Exploratory Well Costs	4. Capitalized Exploratory Well Costs The following table discloses the net changes in capitalized exploratory well costs pending determination of proved reserves for the six months ended June 30, 2015 (in millions): Balance at January 1 $ 1,416 Additions to capitalized exploratory well costs pending the determination of proved reserves 281 Reclassifications to wells, facilities and equipment based on the determination of proved reserves (72 ) Capitalized exploratory well costs charged to expense (120 ) Balance at June 30, 2015 $ 1,505 Capitalized exploratory well costs charged to expense in the preceding table primarily relate to the Dinarta Block in the Kurdistan Region of Iraq following the decision of the Corporation and its partner in March 2015 to cease further drilling activity in the region. In addition, the Corporation expensed $56 million of exploratory well costs incurred during 2015 that are not reflected in the preceding table. Capitalized exploratory well costs greater than one year old after completion of drilling were $1,247 million at June 30, 2015. Approximately 70% of the capitalized well costs in excess of one year relates to Block WA-390-P, offshore Western Australia, where development planning and commercial activities for the Corporation’s natural gas discoveries are ongoing. In December 2014, the Corporation executed a non-binding letter of intent with the North West Shelf (NWS), a third party joint venture with existing natural gas processing and liquefaction facilities. Successful execution of binding agreements with NWS is necessary before the Corporation can execute a gas sales agreement and sanction development of the project. Approximately 30% of the capitalized well costs in excess of one year relates to offshore Ghana, where the Corporation has drilled seven successful exploration wells. Appraisal plans for the seven wells on the block were submitted to the Ghanaian government in June 2013 for approval. Four of the plans were approved and discussions continue with the government on the three remaining appraisal plans. In 2014, the Corporation completed a three well appraisal program in Ghana. Well results continue to be evaluated and development planning is progressing.

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	5. Goodwill In the second quarter of 2015, the Corporation established a new operating segment, the Bakken Midstream segment which had previously been reported as part of the Onshore reporting unit within the E&P operating segment. As a result, the Corporation has two operating segments, E&P and Bakken Midstream, as of June 30, 2015. The E&P operating segment previously had two reporting units, Offshore which had allocated goodwill of $1,098 million and Onshore which had allocated goodwill of $760 million prior to forming the Bakken Midstream operating segment. Upon formation of the Bakken Midstream operating segment, the Corporation allocated $375 million of goodwill from the Onshore reporting unit to the Bakken Midstream operating segment based on the relative fair values of the Bakken Midstream business and the remainder of the Onshore reporting unit. There has been no change to the composition of the Offshore reporting unit. In accordance with accounting standards for goodwill, the Corporation performed impairment tests at June 30, 2015 on the Offshore and Onshore reporting units prior to creation of the Bakken Midstream segment. No impairment resulted from this assessment. In addition, accounting standards require that following a reorganization, allocated goodwill should be tested for impairment. The Corporation also performed impairment tests on the allocated goodwill for the Bakken Midstream and the Onshore reporting unit at June 30, 2015. Goodwill allocated to the Bakken Midstream operating segment passed the impairment test but the goodwill allocated to the Onshore reporting unit did not pass the impairment test. As a result, the Corporation recorded a noncash pre-tax charge of $385 million ($385 million after income taxes) in the second quarter of 2015 to reflect the Onshore reporting unit’s goodwill at its implied fair value of zero based on a hypothetical purchase price allocation as stipulated in the accounting standards. Fair value of the Corporation’s Onshore reporting unit was determined using multiple valuation techniques, including projected discounted cash flows of producing assets and known development projects. The determination of projected discounted cash flows depends on estimates about oil and gas reserves, future prices, operating costs, capital expenditures, discount rate and timing of future net cash flows. The Corporation also considered the relative market valuation of similar peer companies using market multiples, and other observable market data, in determining fair value of the Onshore reporting unit. The valuation methodologies used represent Level 3 measurements as defined by accounting standards. Fair value of the Bakken Midstream operating segment was based on the value implied in the Corporation’s announced sale in June 2015 of a 50% interest in the Bakken Midstream business. The changes in the carrying amount of goodwill are as follows (in millions): Exploration and Production Bakken Midstream Total Beginning balance at January 1 $ 1,858 $ — $ 1,858 Reclassification (375 ) 375 — Impairment (385 ) — (385 ) Ending balance at June 30, 2015 $ 1,098 $ 375 $ 1,473

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	6. Debt In January 2015, the Corporation entered into a $4 billion syndicated revolving credit facility that expires in January 2020. The new facility, which replaced a $4 billion facility that was scheduled to expire in April 2016, can be used for borrowings and letters of credit. Based on the Corporation’s credit rating as of June 30, 2015, borrowings on the facility will generally bear interest at 1.075% above the London Interbank Offered Rate with the facility fee amounting to 0.175% per annum. The interest rate and facility fee are subject to adjustment if the Corporation's credit rating changes. The restrictions on the amount of total borrowings and secured debt are substantially similar to the previous facility. At June 30, 2015, there were no borrowings outstanding or letters of credit issued against the syndicated revolving credit facility.

Dispositions

Dispositions	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Dispositions	7. Dispositions In April 2014, the Corporation completed the sale of its E&P interests in Thailand for cash proceeds of approximately $805 million. This transaction resulted in a pre-tax gain of $706 million ($706 million gain after income taxes). In June 2014, the Corporation completed the sale of its 50% interest in a joint venture constructing an electric generating facility in Newark, New Jersey for cash proceeds of $320 million, resulting in a pre-tax gain of approximately $13 million ($8 million gain after income taxes). Also in June 2014, the Corporation completed the sale of approximately 30,000 net acres of Utica dry gas acreage, including related wells and facilities, for cash proceeds of approximately $485 million and recorded a pre-tax gain of $62 million ($35 million gain after income taxes). The Corporation also sold approximately 47,000 acres of Utica dry gas acreage in March 2014 for proceeds of approximately $590 million. There was no gain or loss realized on the transaction as the carrying value of undeveloped leasehold costs was reduced by the sales proceeds. In the first quarter of 2014, the Corporation completed the sale of its interest in the Pangkah asset, offshore Indonesia for cash proceeds of approximately $650 million. This transaction resulted in a pre-tax gain of $31 million ($10 million loss after income taxes). In addition, the Corporation sold an exploration block in Indonesia for a pre-tax loss of $20 million ($11 million gain after income taxes).

Exit and Severance Costs

Exit and Severance Costs	6 Months Ended
	Jun. 30, 2015
Restructuring And Related Activities [Abstract]
Exit and Severance Costs	8. Exit and Severance Costs During the three months and six months ended June 30, 2015, the Corporation recorded exit related costs of $21 million and $27 million, respectively, and recorded exit related costs of $4 million and $24 million for the three and six months ended June 30, 2014, respectively. In addition, the Corporation incurred severance expense totaling $28 million and $61 million during the three months and six months ended June 30, 2014, respectively, primarily related to the Corporation’s divestiture program. During the three and six months ended June 30, 2015, payments for accrued severance costs amounted to $9 million and $37 million, respectively.

Retirement Plans

Retirement Plans	6 Months Ended
	Jun. 30, 2015
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	9. Retirement Plans Components of net periodic pension cost consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In millions) Service cost $ 18 $ 13 $ 35 $ 25 Interest cost 26 24 52 49 Expected return on plan assets (43 ) (40 ) (85 ) (80 ) Amortization of unrecognized net actuarial losses 20 7 39 15 Settlement loss 5 8 5 8 Pension expense $ 26 $ 12 $ 46 $ 17 In 2015, the Corporation expects to contribute approximately $55 million to its funded pension plans. Through June 30, 2015, the Corporation contributed approximately $27 million of this amount.

Weighted Average Common Shares

Weighted Average Common Shares	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Weighted Average Common Shares	10. Weighted Average Common Shares The net income (loss) and weighted average number of common shares used in the basic and diluted earnings per share computations were as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In millions, except per share amounts) Net income (loss) from continuing operations attributable to Hess Corporation $ (553 ) $ 974 $ (929 ) $ 1,338 Income (loss) from discontinued operations, net of income taxes (14 ) (44 ) (27 ) 13 Less: Net income (loss) attributable to noncontrolling interests — (1 ) — 34 Net income (loss) from discontinued operations attributable to Hess Corporation (14 ) (43 ) (27 ) (21 ) Net income (loss) attributable to Hess Corporation $ (567 ) $ 931 $ (956 ) $ 1,317 Weighted average common shares outstanding: Basic 284.3 309.7 283.9 314.2 Effect of dilutive securities Restricted common stock — 1.4 — 1.5 Stock options — 1.7 — 1.7 Performance share units — 1.3 — 1.3 Diluted 284.3 314.1 283.9 318.7 Net income (loss) attributable to Hess Corporation per share: Basic: Continuing operations $ (1.94 ) $ 3.15 $ (3.27 ) $ 4.26 Discontinued operations (0.05 ) (0.14 ) (0.10 ) (0.07 ) Net income (loss) per share $ (1.99 ) $ 3.01 $ (3.37 ) $ 4.19 Diluted: Continuing operations $ (1.94 ) $ 3.10 $ (3.27 ) $ 4.20 Discontinued operations (0.05 ) (0.14 ) (0.10 ) (0.07 ) Net income (loss) per share $ (1.99 ) $ 2.96 $ (3.37 ) $ 4.13 The Corporation granted 1,122,724 shares of restricted stock, 362,873 performance share units (PSUs) and 521,773 stock options during the six months ended June 30, 2015 and 1,028,883 shares of restricted stock, 298,222 PSUs and 162,911 stock options for the same period in 2014. The Corporation excluded 7,012,818 stock options, 3,027,138 restricted stock awards and 912,383 performance stock units from the computation of diluted shares for the three months ended June 30, 2015, and excluded 6,901,674 stock options, 2,952,012 restricted stock awards and 1,025,826 performance share units from the computation of diluted shares for the six months period ended June 30, 2015 as they are anti-dilutive. The weighted average common shares used in the diluted earnings per share calculations for the three and six months ended June 30, 2014 excluded stock options amounting to 1,978,777 and 2,577,984, respectively, as they were anti-dilutive. The Corporation is permitted but not required to repurchase up to $6.5 billion of outstanding common shares under a Board authorized plan. During the second quarter of 2015, the Corporation purchased $20 million of common stock. As of June 30, 2015, total shares repurchased under the plan were 63.2 million shares at a cost of approximately $5.3 billion.

Guarantees and Contingencies

Guarantees and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Guarantees and Contingencies	11. Guarantees and Contingencies The Corporation is subject to loss contingencies with respect to various claims, lawsuits and other proceedings. The Corporation cannot predict with certainty if, how or when such claims, lawsuits and proceedings will be resolved or what the eventual relief, if any, may be. Numerous issues may need to be resolved, including through lengthy discovery, conciliation and/or arbitration proceedings, or litigation before a loss or range of loss can be reasonably estimated. Subject to the foregoing, in management’s opinion, based upon currently known facts and circumstances, the outcome of such lawsuits, claims and proceedings is not expected to have a material adverse effect on the financial condition of the Corporation. However, the Corporation could incur judgments, enter into settlements or revise its opinion regarding the outcome of certain matters, and such developments could have a material adverse effect on its results of operations in the period in which the amounts are accrued and its cash flows in the period in which the amounts are paid. In July 2004, HOVENSA LLC (HOVENSA), a 50/50 joint venture between the Corporation’s subsidiary, Hess Oil Virgin Islands Corp. (HOVIC), and a subsidiary of Petroleos de Venezuela S.A. (PDVSA), and HOVIC each received a letter from the Commissioner of the Virgin Islands Department of Planning and Natural Resources and Natural Resources Trustees, advising of the Trustee’s intention to bring suit against HOVIC and HOVENSA under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). The letter alleges that HOVIC and HOVENSA are potentially responsible for damages to natural resources arising from releases of hazardous substances from the HOVENSA refinery, which had been operated by HOVIC until October 1998. An action was filed on May 5, 2005 in the District Court of the Virgin Islands against HOVENSA, HOVIC and other companies that operated industrial facilities on the south shore of St. Croix asserting that the defendants are liable under CERCLA and territorial statutory and common law for damages to natural resources. In 2014 HOVIC, HOVENSA and the government of the U.S. Virgin Islands entered into a settlement agreement pursuant to which HOVENSA paid $3.5 million and agreed to pay the government of the U.S. Virgin Islands an additional $40 million no later than December 31, 2014. HOVENSA was unable to make this additional payment because the U.S. Virgin Islands legislature did not approve a proposed operating agreement required to complete a proposed sale of HOVENSA, which would have provided funds to make the settlement payment. Under the terms of the settlement agreement, the U.S. Virgin Islands government was granted a first lien on HOVENSA’s assets to secure the settlement payment, and in January 2015 the government commenced a foreclosure action to enforce this lien. HOVENSA intends to defend this action and is also actively pursuing a sale of its terminal assets to satisfy its obligations, including its obligations to the government; however, it is possible that any such sale may not be completed before HOVENSA exhausts its available funds and it may be required to commence bankruptcy proceedings. The Registrant does not believe the resolution of the foreclosure proceeding or a HOVENSA bankruptcy will have a material adverse effect on its financial condition. In February 2015, the Pension Benefit Guaranty Corporation (PBGC) issued a notice of determination to terminate the HOVENSA pension plan. HOVENSA had been in negotiations with the PBGC to make additional contributions to the plan with proceeds from a proposed sale of HOVENSA, which was not completed for the reasons described above. The Registrant does not believe that the resolution of this matter will have a material adverse effect on its financial condition. The Corporation is from time to time involved in other judicial and administrative proceedings, including proceedings relating to other environmental matters. The Corporation cannot predict with certainty if, how or when such proceedings will be resolved or what the eventual relief, if any, may be, particularly for proceedings that are in their early stages of development or where plaintiffs seek indeterminate damages. Numerous issues may need to be resolved, including through potentially lengthy discovery and determination of important factual matters before a loss or range of loss can be reasonably estimated for any proceeding. Subject to the foregoing, in management’s opinion, based upon currently known facts and circumstances, the outcome of such proceedings is not expected to have a material adverse effect on the financial condition, results of operations or cash flows of the Corporation.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information	12. Segment Information The Corporation has two operating segments, Exploration and Production and Bakken Midstream. The Exploration and Production operating segment explores for, develops, produces, purchases and sells crude oil, natural gas liquids and natural gas with production operations primarily in the United States (U.S.), Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand (JDA), Malaysia, and Norway. The Bakken Midstream operating segment provides 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, primarily located in the Bakken shale play of North Dakota. All unallocated costs are reflected under Corporate, Interest and Other. The following table presents operating segment financial data for continuing operations (in millions): For the Three Months Ended June 30, 2015 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 1,953 $ — $ — $ — $ 1,953 Intersegment Revenues — 145 — (145 ) - Operating Revenues $ 1,953 $ 145 $ — $ (145 ) $ 1,953 Net income (loss) from continuing operations attributable to Hess Corporation $ (502 ) $ 32 $ (83 ) $ — $ (553 ) Depreciation, depletion and amortization 1,004 22 2 — 1,028 Provision (benefit) for income taxes (120 ) 19 (55 ) — (156 ) Capital Expenditures* 948 65 — — 1,013 For the Three Months Ended June 30, 2014 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 2,829 $ — $ — $ — $ 2,829 Intersegment Revenues - 81 — (81 ) — Operating Revenues $ 2,829 $ 81 $ — $ (81 ) $ 2,829 Net income (loss) from continuing operations attributable to Hess Corporation $ 1,049 $ 7 $ (82 ) $ — $ 974 Depreciation, depletion and amortization 762 20 3 — 785 Provision (benefit) for income taxes 141 4 (53 ) — 92 Capital Expenditures* 1,138 48 16 — 1,202 For the Six Months Ended June 30, 2015 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 3,491 $ — $ — $ — $ 3,491 Intersegment Revenues - 275 — (275 ) - Operating Revenues $ 3,491 $ 275 $ — $ (275 ) $ 3,491 Net income (loss) from continuing operations attributable to Hess Corporation $ (816 ) $ 59 $ (172 ) $ — $ (929 ) Depreciation, depletion and amortization 1,936 43 5 — 1,984 Provision (benefit) for income taxes (431 ) 35 (111 ) — (507 ) Capital Expenditures* 2,145 105 — — 2,250 For the Six Months Ended June 30, 2014 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 5,502 $ — $ — $ — $ 5,502 Intersegment Revenues — 129 — (129 ) - Operating Revenues $ 5,502 $ 129 $ — $ (129 ) $ 5,502 Net income (loss) from continuing operations attributable to Hess Corporation $ 1,570 $ (6 ) $ (226 ) $ — $ 1,338 Depreciation, depletion and amortization 1,474 29 8 — 1,511 Provision (benefit) for income taxes 476 (3 ) (142 ) — 331 Capital Expenditures* 2,195 121 32 — 2,348 * Capital expenditures include accruals. Identifiable assets by operating segment were as follows: June 30, December 31, 2015 2014 (In millions) Exploration and Production $ 31,992 $ 32,742 Bakken Midstream 2,550 2,465 Corporate, Interest and Other 945 2,213 Continuing operations 35,487 37,420 Discontinued operations 71 1,158 Total $ 35,558 $ 38,578

Financial Risk Management

Financial Risk Management	6 Months Ended
	Jun. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Risk Management	13. Financial Risk Management In the normal course of its business, the Corporation is exposed to commodity risks related to changes in the prices of crude oil, natural gas liquids, and natural gas as well as changes in interest rates and foreign currency values. In the disclosures that follow, corporate risk management activities refer to the mitigation of these risks through hedging activities. Corporate Financial risk management activities include transactions designed to reduce risk in the selling prices of crude oil or natural gas produced by the Corporation or to reduce exposure to foreign currency or interest rate movements. Generally, futures, swaps or option strategies may be used to fix or reduce volatility in the forward selling price of a portion of the Corporation’s crude oil or natural gas production. Forward contracts may also be used to purchase certain currencies in which the Corporation does business with the intent of reducing exposure to foreign currency fluctuations. These forward contracts comprise various currencies, primarily the British Pound and Danish Krone. Interest rate swaps may be used to convert interest payments on certain long-term debt from fixed to floating rates. The gross notional volumes of Corporate risk management derivative contracts outstanding were as follows: June 30, December 31, 2015 2014 Commodity, primarily crude oil (millions of barrels) 13 — Foreign exchange (millions of USD) $ 947 $ 1,189 Interest rate swaps (millions of USD) $ 1,300 $ 1,300 In the first quarter of 2015, the Corporation entered into Brent crude oil collars to hedge 50,000 barrels of oil per day (bopd) from March 2015 to December 2015 at a cost of $38 million. This program was supplemented in the second quarter of 2015 by entering into West Texas Intermediate (WTI) crude oil collars to hedge 20,000 bopd from May 6, 2015 to December 2015 at a cost of $10 million. Under the terms of both programs, the floor price to be received by the Corporation is $60 per barrel and the ceiling price it may receive is $80 per barrel. All crude oil collars have been designated as cash flow hedges. Realized and unrealized losses from Brent and WTI crude oil collars for the three and six months ended June 30, 2015 decreased Sales and other operating revenues by $35 million and $18 million, respectively, which included pre-tax losses of $35 million and $23 million, respectively, associated with changes in time value of the hedging contracts. Realized and unrealized losses in 2014 amounted to $10 million and $1 million for the three months and six months ended June 30, 2014, respectively. There was no significant hedge ineffectiveness for the three months and six months ended June 30, 2015 and an ineffectiveness loss of approximately $3 million and $4 million for the three months and six months ended June 30, 2014, respectively, under the 2014 hedge program. At June 30, 2015, the after-tax deferred gains in Accumulated other comprehensive income (loss) related to crude oil collars was approximately $1 million, which will be reclassified into earnings during 2015 as the hedged crude oil sales are recognized in earnings. At June 30, 2015 and December 31, 2014, the Corporation had interest rate swaps with gross notional amounts of $1,300 million. During the first quarter of 2015, the Corporation settled existing interest rate swaps and received cash proceeds of $41 million. Simultaneously, the Corporation entered into new interest rate swap arrangements. All interest rate swaps have been designated as fair value hedges. The Corporation recorded a decrease of approximately $6 million and an increase of approximately $4 million for the three months and six months ended June 30, 2015, respectively, and increases of approximately $4 million and $5 million for the three months and six months ended June 30, 2014, respectively, in the fair value of interest rate swaps (excluding accrued interest). These items, excluding accrued interest, offset changes in the carrying value of the hedged fixed-rate debt. Total foreign exchange gains and losses are reported in Other, net in Revenues and non-operating income in the Statement of Consolidated Income and amounted to a loss of $7 million and a gain of $8 million in the three months and six months ended June 30, 2015, respectively, compared with a loss of $19 million and $25 million in the three months and six months ended June 30, 2014, respectively. Gains or losses on foreign exchange derivative contracts not designated as hedges, which are a component of total foreign exchange gains and losses, amounted to a loss of $41 million and a gain of $57 million in the three and six months ended June 30, 2015, respectively, and a loss of $13 million in both the three and six months ended June 30, 2014. Fair Value Measurements: The following table provides information about the effect of netting arrangements on the presentation of the Corporation’s physical and financial derivative assets and (liabilities) that are measured at fair value, with the effect of single counterparty multilateral netting being included in column (v): Gross Amounts Offset in the Consolidated Balance Sheet Physical Net Amounts Gross Amounts Derivative Presented in Not Offset in and the the Gross Financial Cash Consolidated Consolidated Net Amounts Instruments Collateral Balance Balance Amounts (i) (ii) (iii) (iv)=(i)+(ii)+(iii) (v) (vi)=(iv)+(v) (In millions) June 30, 2015 Assets Derivative contracts Commodity $ 33 $ (8 ) $ — $ 25 $ — $ 25 Interest rate and other 7 (4 ) — 3 — 3 Counterparty netting — — — — — — Total derivative contracts $ 40 $ (12 ) $ — $ 28 $ — $ 28 Liabilities Derivative contracts Commodity $ (11 ) $ 8 $ — $ (3 ) $ — $ (3 ) Other (10 ) 4 — (6 ) — (6 ) Counterparty netting — — — — — — Total derivative contracts $ (21 ) $ 12 $ — $ (9 ) $ — $ (9 ) The net assets and liabilities reflected in column (iv) of the table above were included in Accounts receivable – Trade and Accounts payable, respectively. The table below reflects the gross and net fair values of risk management derivative instruments: Accounts Accounts Receivable Payable (In millions) June 30, 2015 Derivative contracts designated as hedging instruments Commodity $ 25 $ — Interest rate and other 2 — Total derivative contracts designated as hedging instruments 27 — Derivative contracts not designated as hedging instruments Commodity 8 (11 ) Foreign exchange 5 (10 ) Total derivative contracts not designated as hedging instruments 13 (21 ) Gross fair value of derivative contracts 40 (21 ) Master netting arrangements (12 ) 12 Net fair value of derivative contracts $ 28 $ (9 ) At June 30, 2015, Level 1 items comprised $3 million of Derivative liabilities. Level 2 items comprised Derivative liabilities of $6 million and Derivative assets of $28 million, which included commodity contracts of $25 million and interest rate and other items of $3 million. The Corporation did not have Level 3 instruments at June 30, 2015. For all other short-term financial instruments, primarily cash equivalents and accounts receivable and payable, the carrying value approximated the respective fair value at June 30, 2015. Total Long-term debt of $5,957 million at June 30, 2015, had a fair value of $6,642 million based on Level 2 inputs. Discontinued Operations - Trading Activities: In the first quarter of 2015, the Corporation sold its interest in the energy trading joint venture, HETCO. Pursuant to the terms of the sale, the successor entity is permitted to continue to utilize the Corporation’s guarantees issued in favor of counterparties existing as of the sales date until November 12, 2015, provided that new trades are for a period of one year or less, comply with certain credit requirements, and net exposures remain within value at risk limits previously applied by the Corporation. The Corporation has the right to seek reimbursement from the successor entity upon any counterparty draw on the applicable guarantee from the Corporation. The fair value of the guarantee recorded by the Corporation amounted to $11 million.

Subsequent Event

Subsequent Event	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	14. Subsequent Event On July 1, 2015, the Corporation completed the sale of a 50% interest in its Bakken Midstream business to Global Infrastructure Partners (GIP) for cash consideration of approximately $2.7 billion and formed a joint venture with GIP. Subsequent to closing, the joint venture incurred $600 million of debt through a 5-year Term Loan A facility with proceeds distributed equally to both partners, resulting in total after-tax cash proceeds, net to the Corporation, of approximately $3.0 billion. In addition, the joint venture has independent access to capital via a $400 million 5-year Senior Revolving Credit Facility, which is fully committed.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements: In April 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . The ASU amends the criteria for reporting discontinued operations to include only disposals representing a strategic shift in operations. The ASU also requires expanded disclosures regarding the assets, liabilities, income, and expenses of discontinued operations. This ASU became effective for the Corporation in the first quarter of 2015 and did not have a significant impact on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , with early adoption permitted In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis , with early adoption permitted In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , with early adoption permitted

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]
Summary of Sales and Other Operating Revenues and Income (Loss) from Discontinued Operations	Sales and other operating revenues and Income (loss) from discontinued operations were as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In millions) Sales and other operating revenues $ — $ 3,083 $ 14 $ 6,250 Income (loss) from discontinued operations before income taxes $ (19 ) $ (67 ) $ (43 ) $ 6 Current tax provision (benefit) — — — — Deferred tax provision (benefit) (5 ) (23 ) (16 ) (7 ) Provision (benefit) for income taxes (5 ) (23 ) (16 ) (7 ) Income (loss) from discontinued operations, net of income taxes $ (14 ) $ (44 ) $ (27 ) $ 13 Less: Net income (loss) attributable to noncontrolling interests — (1 ) — 34 Income (loss) from discontinued operations attributable to Hess Corporation $ (14 ) $ (43 ) $ (27 ) $ (21 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: June 30, December 31, 2015 2014 (In millions) Crude oil and natural gas liquids $ 289 $ 246 Materials and supplies 280 281 Total inventories $ 569 $ 527

Capitalized Exploratory Well 25

Capitalized Exploratory Well Costs (Tables)	6 Months Ended
	Jun. 30, 2015
Capitalized Exploratory Well Costs [Abstract]
Net Changes in Capitalized Exploratory Well Costs	The following table discloses the net changes in capitalized exploratory well costs pending determination of proved reserves for the six months ended June 30, 2015 (in millions): Balance at January 1 $ 1,416 Additions to capitalized exploratory well costs pending the determination of proved reserves 281 Reclassifications to wells, facilities and equipment based on the determination of proved reserves (72 ) Capitalized exploratory well costs charged to expense (120 ) Balance at June 30, 2015 $ 1,505

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill are as follows (in millions): Exploration and Production Bakken Midstream Total Beginning balance at January 1 $ 1,858 $ — $ 1,858 Reclassification (375 ) 375 — Impairment (385 ) — (385 ) Ending balance at June 30, 2015 $ 1,098 $ 375 $ 1,473

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation And Retirement Disclosure [Abstract]
Components of Net Periodic Pension Cost	Components of net periodic pension cost consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In millions) Service cost $ 18 $ 13 $ 35 $ 25 Interest cost 26 24 52 49 Expected return on plan assets (43 ) (40 ) (85 ) (80 ) Amortization of unrecognized net actuarial losses 20 7 39 15 Settlement loss 5 8 5 8 Pension expense $ 26 $ 12 $ 46 $ 17

Weighted Average Common Shares

Weighted Average Common Shares (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Net Income (Loss) and Weighted Average Number of Common Shares Used in the Computation of Basic and Diluted Earnings Per Share	The net income (loss) and weighted average number of common shares used in the basic and diluted earnings per share computations were as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 (In millions, except per share amounts) Net income (loss) from continuing operations attributable to Hess Corporation $ (553 ) $ 974 $ (929 ) $ 1,338 Income (loss) from discontinued operations, net of income taxes (14 ) (44 ) (27 ) 13 Less: Net income (loss) attributable to noncontrolling interests — (1 ) — 34 Net income (loss) from discontinued operations attributable to Hess Corporation (14 ) (43 ) (27 ) (21 ) Net income (loss) attributable to Hess Corporation $ (567 ) $ 931 $ (956 ) $ 1,317 Weighted average common shares outstanding: Basic 284.3 309.7 283.9 314.2 Effect of dilutive securities Restricted common stock — 1.4 — 1.5 Stock options — 1.7 — 1.7 Performance share units — 1.3 — 1.3 Diluted 284.3 314.1 283.9 318.7 Net income (loss) attributable to Hess Corporation per share: Basic: Continuing operations $ (1.94 ) $ 3.15 $ (3.27 ) $ 4.26 Discontinued operations (0.05 ) (0.14 ) (0.10 ) (0.07 ) Net income (loss) per share $ (1.99 ) $ 3.01 $ (3.37 ) $ 4.19 Diluted: Continuing operations $ (1.94 ) $ 3.10 $ (3.27 ) $ 4.20 Discontinued operations (0.05 ) (0.14 ) (0.10 ) (0.07 ) Net income (loss) per share $ (1.99 ) $ 2.96 $ (3.37 ) $ 4.13

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Corporation's Results by Operating Segment	The following table presents operating segment financial data for continuing operations (in millions): For the Three Months Ended June 30, 2015 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 1,953 $ — $ — $ — $ 1,953 Intersegment Revenues — 145 — (145 ) - Operating Revenues $ 1,953 $ 145 $ — $ (145 ) $ 1,953 Net income (loss) from continuing operations attributable to Hess Corporation $ (502 ) $ 32 $ (83 ) $ — $ (553 ) Depreciation, depletion and amortization 1,004 22 2 — 1,028 Provision (benefit) for income taxes (120 ) 19 (55 ) — (156 ) Capital Expenditures* 948 65 — — 1,013 For the Three Months Ended June 30, 2014 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 2,829 $ — $ — $ — $ 2,829 Intersegment Revenues - 81 — (81 ) — Operating Revenues $ 2,829 $ 81 $ — $ (81 ) $ 2,829 Net income (loss) from continuing operations attributable to Hess Corporation $ 1,049 $ 7 $ (82 ) $ — $ 974 Depreciation, depletion and amortization 762 20 3 — 785 Provision (benefit) for income taxes 141 4 (53 ) — 92 Capital Expenditures* 1,138 48 16 — 1,202 For the Six Months Ended June 30, 2015 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 3,491 $ — $ — $ — $ 3,491 Intersegment Revenues - 275 — (275 ) - Operating Revenues $ 3,491 $ 275 $ — $ (275 ) $ 3,491 Net income (loss) from continuing operations attributable to Hess Corporation $ (816 ) $ 59 $ (172 ) $ — $ (929 ) Depreciation, depletion and amortization 1,936 43 5 — 1,984 Provision (benefit) for income taxes (431 ) 35 (111 ) — (507 ) Capital Expenditures* 2,145 105 — — 2,250 For the Six Months Ended June 30, 2014 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 5,502 $ — $ — $ — $ 5,502 Intersegment Revenues — 129 — (129 ) - Operating Revenues $ 5,502 $ 129 $ — $ (129 ) $ 5,502 Net income (loss) from continuing operations attributable to Hess Corporation $ 1,570 $ (6 ) $ (226 ) $ — $ 1,338 Depreciation, depletion and amortization 1,474 29 8 — 1,511 Provision (benefit) for income taxes 476 (3 ) (142 ) — 331 Capital Expenditures* 2,195 121 32 — 2,348
Schedule of Identifiable Assets by Operating Segment	Identifiable assets by operating segment were as follows: June 30, December 31, 2015 2014 (In millions) Exploration and Production $ 31,992 $ 32,742 Bakken Midstream 2,550 2,465 Corporate, Interest and Other 945 2,213 Continuing operations 35,487 37,420 Discontinued operations 71 1,158 Total $ 35,558 $ 38,578

Financial Risk Management (Tabl

Financial Risk Management (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Gross Notional Volumes of Corporation's Derivative Contracts Outstanding	The gross notional volumes of Corporate risk management derivative contracts outstanding were as follows: June 30, December 31, 2015 2014 Commodity, primarily crude oil (millions of barrels) 13 — Foreign exchange (millions of USD) $ 947 $ 1,189 Interest rate swaps (millions of USD) $ 1,300 $ 1,300
Netting Arrangements on Physical and Financial Derivative Assets and (Liabilities)	Fair Value Measurements: The following table provides information about the effect of netting arrangements on the presentation of the Corporation’s physical and financial derivative assets and (liabilities) that are measured at fair value, with the effect of single counterparty multilateral netting being included in column (v): Gross Amounts Offset in the Consolidated Balance Sheet Physical Net Amounts Gross Amounts Derivative Presented in Not Offset in and the the Gross Financial Cash Consolidated Consolidated Net Amounts Instruments Collateral Balance Balance Amounts (i) (ii) (iii) (iv)=(i)+(ii)+(iii) (v) (vi)=(iv)+(v) (In millions) June 30, 2015 Assets Derivative contracts Commodity $ 33 $ (8 ) $ — $ 25 $ — $ 25 Interest rate and other 7 (4 ) — 3 — 3 Counterparty netting — — — — — — Total derivative contracts $ 40 $ (12 ) $ — $ 28 $ — $ 28 Liabilities Derivative contracts Commodity $ (11 ) $ 8 $ — $ (3 ) $ — $ (3 ) Other (10 ) 4 — (6 ) — (6 ) Counterparty netting — — — — — — Total derivative contracts $ (21 ) $ 12 $ — $ (9 ) $ — $ (9 )
Gross and Net Fair Values of Corporate and Trading Derivative Instruments	The table below reflects the gross and net fair values of risk management derivative instruments: Accounts Accounts Receivable Payable (In millions) June 30, 2015 Derivative contracts designated as hedging instruments Commodity $ 25 $ — Interest rate and other 2 — Total derivative contracts designated as hedging instruments 27 — Derivative contracts not designated as hedging instruments Commodity 8 (11 ) Foreign exchange 5 (10 ) Total derivative contracts not designated as hedging instruments 13 (21 ) Gross fair value of derivative contracts 40 (21 ) Master netting arrangements (12 ) 12 Net fair value of derivative contracts $ 28 $ (9 )

Discontinued Operations - Summa

Discontinued Operations - Summary of Sales and Other Operating Revenues and Income (Loss) from Discontinued Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Discontinued Operations And Disposal Groups [Abstract]
Sales and other operating revenues		$ 3,083	$ 14	$ 6,250
Income (loss) from discontinued operations before income taxes	$ (19)	(67)	(43)	6
Deferred tax provision (benefit)	(5)	(23)	(16)	(7)
Provision (benefit) for income taxes	(5)	(23)	(16)	(7)
Income (loss) from discontinued operations, net of income taxes	(14)	(44)	(27)	13
Less: Net income (loss) attributable to noncontrolling interests		(1)		34
Income (loss) from discontinued operations attributable to Hess Corporation	$ (14)	$ (43)	$ (27)	$ (21)

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) $ in Millions	Dec. 31, 2014USD ($)
Discontinued Operations And Disposal Groups [Abstract]
Assets of discontinued operations	$ 1,035
Liabilities of discontinued operations	$ 797

Inventories - Inventories (Deta

Inventories - Inventories (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Crude oil and natural gas liquids	$ 289	$ 246
Materials and supplies	280	281
Total inventories	$ 569	$ 527

Capitalized Exploratory Well 34

Capitalized Exploratory Well Costs - Net Changes in Capitalized Exploratory Well Costs (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Capitalized Exploratory Well Costs [Abstract]
Beginning balance	$ 1,416
Additions to capitalized exploratory well costs pending the determination of proved reserves	281
Reclassifications to wells, facilities and equipment based on the determination of proved reserves	(72)
Capitalized exploratory well costs charged to expense	(120)
Ending balance	$ 1,505

Capitalized Exploratory Well 35

Capitalized Exploratory Well Costs - Additional Information (Detail) $ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2013Well	Jun. 30, 2015USD ($)Well	Dec. 31, 2014Well
Capitalized Costs Of Unproved Properties Excluded From Amortization [Line Items]
Exploratory dry hole costs which were incurred and subsequently expensed | $		$ 56
Capitalized exploratory well costs that have been capitalized for period greater than one year | $		$ 1,247
Block WA-390-P, Offshore Western Australia [Member]
Capitalized Costs Of Unproved Properties Excluded From Amortization [Line Items]
Capitalized well costs		70.00%
Offshore Ghana [Member]
Capitalized Costs Of Unproved Properties Excluded From Amortization [Line Items]
Capitalized well costs		30.00%
Number of consecutive successful exploration wells		7
Number of wells appraisal drilling plans	7
Number of wells appraisal drilling plans approved		4
Number of wells appraisal drilling plans in process		3
Number of appraisal wells completed			3

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Segment	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Goodwill [Line Items]
Number of operating segments for the Corporation | Segment			2
Number of reporting units | Segment			2
GOODWILL	$ 1,473		$ 1,473		$ 1,858
Impairment	385	$ 0	385	$ 0
Impairment after income taxes			385
Exploration and Production [Member]
Goodwill [Line Items]
GOODWILL	1,098		1,098		1,858
Impairment			385
Exploration and Production [Member] | Offshore Reporting Units [Member]
Goodwill [Line Items]
GOODWILL	1,098		1,098
Exploration and Production [Member] | Onshore Reporting Units [Member]
Goodwill [Line Items]
GOODWILL					$ 760
Bakken Midstream [Member]
Goodwill [Line Items]
GOODWILL	$ 375		$ 375
Percentage of interest sold in joint venture	50.00%		50.00%

Goodwill - Changes in Carrying

Goodwill - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Goodwill [Line Items]
Beginning balance at January 1			$ 1,858
Impairment	$ (385)	$ 0	(385)	$ 0
Ending balance at June 30, 2015	1,473		1,473
Exploration and Production [Member]
Goodwill [Line Items]
Beginning balance at January 1			1,858
Reclassification			(375)
Impairment			(385)
Ending balance at June 30, 2015	1,098		1,098
Bakken Midstream [Member]
Goodwill [Line Items]
Reclassification			375
Ending balance at June 30, 2015	$ 375		$ 375

Debt - Additional Information (

Debt - Additional Information (Detail) - Jun. 30, 2015 - USD ($)	Total
New Credit Facility [Member]
Debt Instrument [Line Items]
Syndicated revolving credit facility	$ 4,000,000,000
Maturity of revolving credit facilities	2020-01
Interest rate on the borrowings on the credit facility description	1.075% above the London Interbank Offered Rate
Credit facility fee (per annum)	0.175%
Previous Credit Facility [Member]
Debt Instrument [Line Items]
Syndicated revolving credit facility	$ 4,000,000,000
Maturity of revolving credit facilities	2016-04
Letters of credit outstanding amount	$ 0

Dispositions - Additional Infor

Dispositions - Additional Information (Detail)	1 Months Ended			3 Months Ended	6 Months Ended
	Jun. 30, 2014USD ($)a	Apr. 30, 2014USD ($)	Mar. 31, 2014USD ($)a	Mar. 31, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)
Business Acquisition [Line Items]
Proceeds from asset sales					$ 0	$ 2,847,000,000
Thailand [Member]
Business Acquisition [Line Items]
Proceeds from asset sales		$ 805,000,000
Gain (loss) on asset sale, pre-tax		706,000,000
Gain (loss) on asset sale, after-tax		$ 706,000,000
Electric Generating Facility [Member]
Business Acquisition [Line Items]
Proceeds from asset sales	$ 320,000,000
Gain (loss) on asset sale, pre-tax	13,000,000
Gain (loss) on asset sale, after-tax	$ 8,000,000
Percentage sale of interest in joint venture	50.00%					50.00%
Utica dry gas acreage [Member]
Business Acquisition [Line Items]
Proceeds from asset sales	$ 485,000,000		$ 590,000,000
Gain (loss) on asset sale, pre-tax	62,000,000
Gain (loss) on asset sale, after-tax	$ 35,000,000		$ 0
Area of land sold | a	30,000		47,000
Pangkah Asset [Member]
Business Acquisition [Line Items]
Proceeds from asset sales				$ 650,000,000
Gain (loss) on asset sale, pre-tax				31,000,000
Gain (loss) on asset sale, after-tax				(10,000,000)
Indonesia exploration block [Member]
Business Acquisition [Line Items]
Gain (loss) on asset sale, pre-tax				20,000,000
Gain (loss) on asset sale, after-tax				$ 11,000,000

Exit and Severance Costs - Addi

Exit and Severance Costs - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Restructuring And Related Activities [Abstract]
Exit related costs	$ 21	$ 4	$ 27	$ 24
Employee Severance Expense		$ 28		$ 61
Payments for accrued severance costs	$ 9		$ 37

Retirement Plans - Components o

Retirement Plans - Components of Net Periodic Pension Cost (Detail) - Pension Plans [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 18	$ 13	$ 35	$ 25
Interest cost	26	24	52	49
Expected return on plan assets	(43)	(40)	(85)	(80)
Amortization of unrecognized net actuarial losses	20	7	39	15
Settlement loss	5	8	5	8
Pension expense	$ 26	$ 12	$ 46	$ 17

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Compensation And Retirement Disclosure [Abstract]
Budgeted contributions to funded pension plans in 2015	$ 55
Corporation contributed to its pension plans	$ 27

Weighted Average Common Share43

Weighted Average Common Shares - Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Basic And Diluted Earnings Per Share [Line Items]
Net income (loss) from continuing operations attributable to Hess Corporation	$ (553)	$ 974	$ (929)	$ 1,338
Income (loss) from discontinued operations, net of income taxes	(14)	(44)	(27)	13
Less: Net income (loss) attributable to noncontrolling interests		(1)		34
Income (loss) from discontinued operations attributable to Hess Corporation	(14)	(43)	(27)	(21)
NET INCOME (LOSS) ATTRIBUTABLE TO HESS CORPORATION	$ (567)	$ 931	$ (956)	$ 1,317
Weighted average common shares outstanding:
Basic	284.3	309.7	283.9	314.2
Effect of dilutive securities
Diluted	284.3	314.1	283.9	318.7
Basic:
Continuing operations	$ (1.94)	$ 3.15	$ (3.27)	$ 4.26
Discontinued operations	(0.05)	(0.14)	(0.10)	(0.07)
NET INCOME (LOSS) PER SHARE	(1.99)	3.01	(3.37)	4.19
DILUTED:
Continuing operations	(1.94)	3.10	(3.27)	4.20
Discontinued operations	(0.05)	(0.14)	(0.10)	(0.07)
NET INCOME (LOSS) PER SHARE	$ (1.99)	$ 2.96	$ (3.37)	$ 4.13
Restricted common stock
Effect of dilutive securities
Share based arrangements		1.4		1.5
Stock options
Effect of dilutive securities
Share based arrangements		1.7		1.7
Performance Share Units
Effect of dilutive securities
Share based arrangements		1.3		1.3

Weighted Average Common Share44

Weighted Average Common Shares - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Repurchase of outstanding common stock permitted	$ 6,500,000,000		$ 6,500,000,000
Common stock, shares purchased value	$ 20,000,000		$ 36,000,000	$ 1,765,000,000
Number of shares purchased	63,200,000		63,200,000
Shares purchased value	$ 5,300,000,000		$ 5,300,000,000
Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares granted			1,122,724	1,028,883
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	3,027,138		2,952,012
Performance Share Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares granted			362,873	298,222
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	912,383		1,025,826
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares granted			521,773	162,911
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	7,012,818	1,978,777	6,901,674	2,577,984

Guarantees and Contingencies -

Guarantees and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Loss Contingencies [Line Items]
Settlements amount paid by HOVENSA		$ 3.5
VIRGIN ISLANDS, US
Loss Contingencies [Line Items]
Agreement to pay government of the U.S. Virgin Islands	$ 40
HOVENSA LLC.
Loss Contingencies [Line Items]
Interest in Joint Venture	50%

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015Segment
Segment Reporting [Abstract]
Number of operating segments for the Corporation	2

Segment Information - Operating

Segment Information - Operating Segment Financial Data for Continuing Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Operating Revenues	$ 1,953	$ 2,829	$ 3,491	$ 5,502
Net income (loss) from continuing operations attributable to Hess Corporation	(553)	974	(929)	1,338
Depreciation, depletion and amortization	1,028	785	1,984	1,511
Provision (benefit) for income taxes	(156)	92	(507)	331
Capital Expenditures	1,013	1,202	2,250	2,348
Bakken Midstream [Member]
Segment Reporting Information [Line Items]
Intersegment Revenue	145	81	275	129
Third Parties Revenues [Member]
Segment Reporting Information [Line Items]
Operating Revenues	1,953	2,829	3,491	5,502
Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenue	(145)	(81)	(275)	(129)
Continuing Operations [Member] | Exploration and Production [Member]
Segment Reporting Information [Line Items]
Operating Revenues	1,953	2,829	3,491	5,502
Net income (loss) from continuing operations attributable to Hess Corporation	(502)	1,049	(816)	1,570
Depreciation, depletion and amortization	1,004	762	1,936	1,474
Provision (benefit) for income taxes	(120)	141	(431)	476
Capital Expenditures	948	1,138	2,145	2,195
Continuing Operations [Member] | Bakken Midstream [Member]
Segment Reporting Information [Line Items]
Intersegment Revenue	145	81	275	129
Net income (loss) from continuing operations attributable to Hess Corporation	32	7	59	(6)
Depreciation, depletion and amortization	22	20	43	29
Provision (benefit) for income taxes	19	4	35	(3)
Capital Expenditures	65	48	105	121
Continuing Operations [Member] | Corporate, Interest and Other [Member]
Segment Reporting Information [Line Items]
Net income (loss) from continuing operations attributable to Hess Corporation	(83)	(82)	(172)	(226)
Depreciation, depletion and amortization	2	3	5	8
Provision (benefit) for income taxes	(55)	(53)	(111)	(142)
Capital Expenditures		16		32
Continuing Operations [Member] | Third Parties Revenues [Member] | Exploration and Production [Member]
Segment Reporting Information [Line Items]
Operating Revenues	$ 1,953	$ 2,829	$ 3,491	$ 5,502

Segment Information - Schedule

Segment Information - Schedule of Identifiable Assets by Operating Segment (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Identifiable assets	$ 35,558	$ 38,578
Continuing Operations [Member]
Segment Reporting Information [Line Items]
Identifiable assets	35,487	37,420
Continuing Operations [Member] | Exploration and Production [Member]
Segment Reporting Information [Line Items]
Identifiable assets	31,992	32,742
Continuing Operations [Member] | Bakken Midstream [Member]
Segment Reporting Information [Line Items]
Identifiable assets	2,550	2,465
Continuing Operations [Member] | Corporate, Interest and Other [Member]
Segment Reporting Information [Line Items]
Identifiable assets	945	2,213
Discontinued Operations [Member]
Segment Reporting Information [Line Items]
Identifiable assets	$ 71	$ 1,158

Financial Risk Management - Gro

Financial Risk Management - Gross Notional Volumes of Corporation's Derivative Contracts Outstanding (Detail)	Jun. 30, 2015USD ($)MMBbls	Dec. 31, 2014USD ($)
Interest rate swap [Member]
Derivative [Line Items]
Derivative notional amount	$ 1,300,000,000	$ 1,300,000,000
Gross Volumes of the Financial Risk Management Derivative Contracts Outstanding [Member] | Foreign Exchange [Member]
Derivative [Line Items]
Derivative notional amount	947,000,000	1,189,000,000
Gross Volumes of the Financial Risk Management Derivative Contracts Outstanding [Member] | Interest rate swap [Member]
Derivative [Line Items]
Derivative notional amount	$ 1,300,000,000	$ 1,300,000,000
Gross Volumes of the Financial Risk Management Derivative Contracts Outstanding [Member] | Commodity, Primarily Crude Oil (Millions of Barrels) [Member]
Derivative [Line Items]
Absolute volume of derivative commodity contracts | MMBbls	13

Financial Risk Management - Cor

Financial Risk Management - Corporate Financial Risk Management Activities - Additional Information (Detail)	3 Months Ended			6 Months Ended
	Jun. 30, 2015USD ($)$ / bbl	Mar. 31, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)BOPD$ / bbl	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Derivative [Line Items]
Floor price per barrel | $ / bbl	60			60
Ceiling price per barrel | $ / bbl	80			80
Interest Rate Swaps and Fixed-rate Debt [Member]
Derivative [Line Items]
Change in the fair value of interest rate swaps - increase/(decrease)	$ (6,000,000)		$ 4,000,000	$ 4,000,000	$ 5,000,000
Corporate Risk Management [Member] | Brent and West Texas Intermediate Crude Hedges [Member]
Derivative [Line Items]
Decrease in sales and other operating revenues as a result of losses from hedge	35,000,000		(10,000,000)	18,000,000	(1,000,000)
Gain (loss) on price risk fair value hedge ineffectiveness			(3,000,000)		(4,000,000)
Gain (loss) on fair value hedges recognized in earnings	(35,000,000)			(23,000,000)
After-tax deferred gains in Accumulated other comprehensive income (loss)	1,000,000			$ 1,000,000
Brent collars run from March 2015 to 12/31/15
Derivative [Line Items]
Total number of barrels per day hedged based on crude oil fixed-price swap contracts | BOPD				50,000
Cost of hedging				$ 38,000,000
WTI collars run from May 6 2015 to 12/31/15
Derivative [Line Items]
Total number of barrels per day hedged based on crude oil fixed-price swap contracts | BOPD				20,000
Cost of hedging				$ 10,000,000
Interest rate swap [Member]
Derivative [Line Items]
Derivative notional amount	1,300,000,000			1,300,000,000		$ 1,300,000,000
Derivative cash proceeds on hedge		$ 41,000,000
Foreign Exchange [Member]
Derivative [Line Items]
Gain (loss) on derivative instruments	(7,000,000)		(19,000,000)	8,000,000	(25,000,000)
Foreign Exchange [Member] | Not Designated Hedges [Member]
Derivative [Line Items]
Gain (loss) on derivative instruments	$ (41,000,000)		$ (13,000,000)	$ 57,000,000	$ (13,000,000)

Financial Risk Management - Net

Financial Risk Management - Netting Arrangements on Physical and Financial Derivative Assets and (Liabilities) (Detail) $ in Millions	Jun. 30, 2015USD ($)
Derivatives Fair Value [Line Items]
Gross Amounts, Assets	$ 40
Gross Amounts of Offset in the Consolidated Balance Sheet Physical Derivative and Financial Instruments Assets	(12)
Gross Amounts Offset in the Consolidated Balance Sheet, Cash Collateral, Assets	0
Net Amounts Presented in the Consolidated Balance Sheet, Assets	28
Gross Amounts Not Offset in the Consolidated Balance Sheet, Assets	0
Net Amounts, Assets	28
Gross Amounts, Liabilities	(21)
Physical Derivative and Financial Instruments, Liabilities	12
Cash Collateral, Liabilities	0
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities	(9)
Gross Amounts Not Offset in the Consolidated Balance Sheet, Liabilities	0
Net Amounts, Liabilities	(9)
Commodity [Member]
Derivatives Fair Value [Line Items]
Gross Amounts, Assets	33
Gross Amounts of Offset in the Consolidated Balance Sheet Physical Derivative and Financial Instruments Assets	(8)
Net Amounts Presented in the Consolidated Balance Sheet, Assets	25
Net Amounts, Assets	25
Gross Amounts, Liabilities	(11)
Physical Derivative and Financial Instruments, Liabilities	8
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities	(3)
Net Amounts, Liabilities	(3)
Interest Rate and Other [Member]
Derivatives Fair Value [Line Items]
Gross Amounts, Assets	7
Gross Amounts of Offset in the Consolidated Balance Sheet Physical Derivative and Financial Instruments Assets	(4)
Net Amounts Presented in the Consolidated Balance Sheet, Assets	3
Net Amounts, Assets	3
Other [Member]
Derivatives Fair Value [Line Items]
Gross Amounts, Liabilities	(10)
Physical Derivative and Financial Instruments, Liabilities	4
Net Amounts Presented in the Consolidated Balance Sheet, Liabilities	(6)
Net Amounts, Liabilities	$ (6)

Financial Risk Management - G52

Financial Risk Management - Gross and Net Fair Values of Corporate and Trading Derivative Instruments (Detail) $ in Millions	Jun. 30, 2015USD ($)
Derivatives Fair Value [Line Items]
Gross Amounts, Assets	$ 40
Gross Amounts, Liabilities	(21)
Commodity [Member]
Derivatives Fair Value [Line Items]
Gross Amounts, Assets	33
Gross Amounts, Liabilities	(11)
Interest Rate and Other [Member]
Derivatives Fair Value [Line Items]
Gross Amounts, Assets	7
Accounts Receivable [Member]
Derivatives Fair Value [Line Items]
Derivative contracts designated as hedging instruments	27
Derivative contracts not designated as hedging instruments	13
Gross Amounts, Assets	40
Master netting arrangements	(12)
Net fair value of derivative contracts	28
Accounts Receivable [Member] | Commodity [Member]
Derivatives Fair Value [Line Items]
Derivative contracts designated as hedging instruments	25
Derivative contracts not designated as hedging instruments	8
Accounts Receivable [Member] | Interest Rate and Other [Member]
Derivatives Fair Value [Line Items]
Derivative contracts designated as hedging instruments	2
Accounts Receivable [Member] | Foreign Exchange [Member]
Derivatives Fair Value [Line Items]
Derivative contracts not designated as hedging instruments	5
Accounts Payable [Member]
Derivatives Fair Value [Line Items]
Master netting arrangements	12
Net fair value of derivative contracts	(9)
Derivative contracts not designated as hedging instruments	(21)
Gross Amounts, Liabilities	(21)
Accounts Payable [Member] | Commodity [Member]
Derivatives Fair Value [Line Items]
Derivative contracts not designated as hedging instruments	(11)
Accounts Payable [Member] | Foreign Exchange [Member]
Derivatives Fair Value [Line Items]
Derivative contracts not designated as hedging instruments	$ (10)

Financial Risk Management - Fai

Financial Risk Management - Fair Value Measurements - Additional Information (Detail) $ in Millions	Jun. 30, 2015USD ($)
Derivative [Line Items]
Long-term debt, including current maturities	$ 5,957
Guarantees fair value	11
Fair Value, Inputs, Level 2
Derivative [Line Items]
Long-term Debt, Fair Value	6,642
Derivative contracts designated as hedging instruments	6
Derivative contracts, designated and not designated, as hedging instruments	28
Fair Value, Inputs, Level 2 | Commodity [Member]
Derivative [Line Items]
Derivative contracts, designated and not designated, as hedging instruments	25
Fair Value, Inputs, Level 2 | Interest Rate and Other [Member]
Derivative [Line Items]
Derivative contracts, designated and not designated, as hedging instruments	3
Fair Value, Inputs, Level 1
Derivative [Line Items]
Derivative contracts not designated as hedging instruments	$ 3

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Jul. 01, 2015	Jun. 30, 2015	Jun. 30, 2014
Subsequent Event [Line Items]
Proceeds from asset sales		$ 0	$ 2,847,000,000
Subsequent Event [Member] | Global Infrastructure Partners [Member]
Subsequent Event [Line Items]
Percentage of interest sold in joint venture	50.00%
Proceeds from asset sales	$ 2,700,000,000
Subsequent Event [Member] | Joint Venture [Member] | Term Loan A Facility [Member]
Subsequent Event [Line Items]
Debt instrument, face amount	$ 600,000,000
Debt instrument term	5 years
Total proceeds including proceeds from issuance of debt	$ 3,000,000,000
Subsequent Event [Member] | Joint Venture [Member] | Senior Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Debt instrument term	5 years
Syndicated revolving credit facility	$ 400,000,000