Hess (HES) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2015shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
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	286,097,193

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 3,013	$ 2,444
Accounts receivable
Trade	1,211	1,642
Other	311	431
Inventories	535	527
Other current assets	527	1,643
Total current assets	5,597	6,687
PROPERTY, PLANT AND EQUIPMENT
Total — at cost	48,138	46,522
Less: Reserves for depreciation, depletion, amortization and lease impairment	21,255	19,005
Property, plant and equipment — net	26,883	27,517
GOODWILL	1,473	1,858
DEFERRED INCOME TAXES	2,109	2,169
OTHER ASSETS	394	347
TOTAL ASSETS	36,456	38,578
CURRENT LIABILITIES
Accounts payable	537	708
Accrued liabilities	1,930	3,781
Taxes payable	79	294
Current maturities of long-term debt	78	68
Total current liabilities	2,624	4,851
LONG-TERM DEBT	6,474	5,919
DEFERRED INCOME TAXES	1,618	2,009
ASSET RETIREMENT OBLIGATIONS	2,161	2,281
OTHER LIABILITIES AND DEFERRED CREDITS	1,216	1,198
Total liabilities	14,093	16,258
Hess Corporation stockholders’ equity
Common stock, par value $1.00. Authorized - 600,000,000 shares. Issued - 286,097,193 shares at September 30, 2015; 285,834,964 shares at December 31, 2014	286	286
Capital in excess of par value	4,097	3,277
Retained earnings	18,530	20,052
Accumulated other comprehensive income (loss)	(1,582)	(1,410)
Total Hess Corporation stockholders' equity	21,331	22,205
Noncontrolling interests	1,032	115
Total equity	22,363	22,320
TOTAL LIABILITIES AND EQUITY	$ 36,456	$ 38,578

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - $ / shares	Sep. 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	286,097,193	285,834,964

Statement of Consolidated Incom

Statement of Consolidated Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES AND NON-OPERATING INCOME
Sales and other operating revenues	$ 1,671	$ 2,678	$ 5,162	$ 8,180
Gains on asset sales, net	50	31	50	820
Other, net	(32)	27	(38)	(89)
Total revenues and non-operating income	1,689	2,736	5,174	8,911
COSTS AND EXPENSES
Cost of products sold (excluding items shown separately below)	356	423	990	1,208
Operating costs and expenses	508	511	1,517	1,551
Production and severance taxes	29	69	110	209
Exploration expenses, including dry holes and lease impairment	144	90	503	669
General and administrative expenses	119	139	417	424
Interest expense	84	75	255	241
Depreciation, depletion and amortization	988	838	2,972	2,349
Impairment	0	0	385	0
Total costs and expenses	2,228	2,145	7,149	6,651
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(539)	591	(1,975)	2,260
Provision (benefit) for income taxes	(300)	232	(807)	563
INCOME (LOSS) FROM CONTINUING OPERATIONS	(239)	359	(1,168)	1,697
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF INCOME TAXES	(13)	671	(40)	684
NET INCOME (LOSS)	(252)	1,030	(1,208)	2,381
Less: Net income (loss) attributable to noncontrolling interests	27	22	27	56
NET INCOME (LOSS) ATTRIBUTABLE TO HESS CORPORATION	$ (279)	$ 1,008	$ (1,235)	$ 2,325
BASIC:
Continuing operations	$ (0.94)	$ 1.19	$ (4.21)	$ 5.51
Discontinued operations	(0.04)	2.16	(0.14)	2.03
NET INCOME (LOSS) PER SHARE	(0.98)	3.35	(4.35)	7.54
DILUTED:
Continuing operations	(0.94)	1.18	(4.21)	5.43
Discontinued operations	(0.04)	2.13	(0.14)	2.01
NET INCOME (LOSS) PER SHARE	$ (0.98)	$ 3.31	$ (4.35)	$ 7.44
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (DILUTED)	283.5	305	283.8	312.7
COMMON STOCK DIVIDENDS PER SHARE	$ 0.25	$ 0.25	$ 0.75	$ 0.75

Statement of Consolidated Compr

Statement of Consolidated Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (252)	$ 1,030	$ (1,208)	$ 2,381
Derivatives designated as cash flow hedges
Effect of hedge (gains) losses reclassified to income	(34)	(8)	(34)	(18)
Income taxes on effect of hedge (gains) losses reclassified to income	13	3	13	7
Net effect of hedge (gains) losses reclassified to income	(21)	(5)	(21)	(11)
Change in fair value of cash flow hedges	109	90	111	64
Income taxes on change in fair value of cash flow hedges	(41)	(34)	(42)	(24)
Net change in fair value of cash flow hedges	68	56	69	40
Change in derivatives designated as cash flow hedges, after taxes	47	51	48	29
Pension and other postretirement plans
(Increase) reduction in unrecognized actuarial losses	(5)		(20)	(4)
Income taxes on actuarial changes in plan liabilities	1		7	2
(Increase) reduction in unrecognized actuarial losses, net	(4)		(13)	(2)
Amortization of net actuarial losses	29	19	73	42
Income taxes on amortization of net actuarial losses	(10)	(7)	(24)	(15)
Net effect of amortization of net actuarial losses	19	12	49	27
Change in pension and other postretirement plans, after taxes	15	12	36	25
Foreign currency translation adjustment
Foreign currency translation adjustment	(208)	(166)	(256)	(203)
Change in foreign currency translation adjustment	(208)	(166)	(256)	(203)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	(146)	(103)	(172)	(149)
COMPREHENSIVE INCOME (LOSS)	(398)	927	(1,380)	2,232
Less: Comprehensive income (loss) attributable to noncontrolling interests	27	22	27	56
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO HESS CORPORATION	$ (425)	$ 905	$ (1,407)	$ 2,176

Statement of Consolidated Cash

Statement of Consolidated Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (1,208)	$ 2,381
Adjustments to reconcile net income (loss) to net cash provided by operating activities
(Gains) losses on asset sales, net	(50)	(820)
Depreciation, depletion and amortization	2,972	2,349
Impairment	385	0
Loss from equity affiliates	10	84
Exploratory dry hole costs	180	297
Exploration lease impairment	139	183
Stock compensation expense	71	65
Provision (benefit) for deferred income taxes	(819)	220
(Income) loss from discontinued operations, net of income taxes	40	(684)
Changes in operating assets and liabilities	(331)	(657)
Cash provided by (used in) operating activities - continuing operations	1,389	3,418
Cash provided by (used in) operating activities - discontinued operations	(31)	(35)
Net cash provided by (used in) operating activities	1,358	3,383
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment	(3,386)	(3,686)
Proceeds from asset sales	25	2,978
Other, net	(44)	(136)
Cash provided by (used in) investing activities - continuing operations	(3,405)	(844)
Cash provided by (used in) investing activities - discontinued operations	108	2,407
Net cash provided by (used in) investing activities	(3,297)	1,563
CASH FLOWS FROM FINANCING ACTIVITIES
Debt with maturities of greater than 90 days – Borrowings	600	598
Debt with maturities of greater than 90 days – Repayments	(51)	(553)
Common stock acquired and retired	(142)	(2,638)
Cash dividends paid	(215)	(232)
Employee stock options exercised, including income tax benefits	11	191
Noncontrolling interests, net	2,329	(4)
Other, net	(24)	0
Cash provided by (used in) financing activities - continuing operations	2,508	(2,638)
Cash provided by (used in) financing activities - discontinued operations	0	(2)
Net cash provided by (used in) financing activities	2,508	(2,640)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	569	2,306
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	2,444	1,814
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 3,013	$ 4,120

Statement of Consolidated Equit

Statement of Consolidated Equity - USD ($) $ in Millions	Total	Common Stock	Capital in Excess of Par	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Hess Stockholders' Equity	Noncontrolling Interests
Beginning balance at Dec. 31, 2013	$ 24,784	$ 325	$ 3,498	$ 21,235	$ (338)	$ 24,720	$ 64
Net income (loss)	2,381			2,325		2,325	56
Other comprehensive income (loss)	(149)				(149)	(149)	0
Comprehensive income (loss)	2,232					2,176	56
Activity related to restricted common stock awards, net	47	1	46			47
Employee stock options, including income tax benefits	193	3	190			193
Performance share units	14		14			14
Cash dividends declared	(232)			(232)		(232)
Common stock acquired and retired	(2,669)	(30)	(331)	(2,308)		(2,669)
Noncontrolling interests, net	(4)						(4)
Ending balance at Sep. 30, 2014	24,365	299	3,417	21,020	(487)	24,249	116
Beginning balance at Dec. 31, 2014	22,320	286	3,277	20,052	(1,410)	22,205	115
Net income (loss)	(1,208)			(1,235)		(1,235)	27
Other comprehensive income (loss)	(172)				(172)	(172)	0
Comprehensive income (loss)	(1,380)					(1,407)	27
Activity related to restricted common stock awards, net	47	1	46			47
Employee stock options, including income tax benefits	14		14			14
Performance share units	19		19			19
Cash dividends declared	(215)			(215)		(215)
Common stock acquired and retired	(91)	(1)	(18)	(72)		(91)
Formation of Bakken Midstream joint venture	2,064		759			759	1,305
Noncontrolling interests, net	(415)						(415)
Ending balance at Sep. 30, 2015	$ 22,363	$ 286	$ 4,097	$ 18,530	$ (1,582)	$ 21,331	$ 1,032

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [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 September 30, 2015 and December 31, 2014, the consolidated results of operations for the three months and nine months ended September 30, 2015 and 2014, and consolidated cash flows for the nine months ended September 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 generally accepted accounting principles (GAAP) in the United States 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 nine months ended September 30, 2014 and consolidated cash flows for the nine months ended September 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 14, Segment Information New Accounting Pronouncements: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , as a new Accounting Standards Codification (ASC) Topic ASC 606. This ASU is effective for the Corporation beginning in the first quarter of 2018 , with early adoption permitted from the first quarter of 2017. The Corporation is currently assessing the impact of the ASU on its consolidated financial statements. 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

Bakken Midstream Joint Venture

Bakken Midstream Joint Venture	9 Months Ended
	Sep. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Bakken Midstream Joint Venture	2. Bakken Midstream Joint Venture On July 1, 2015 the Corporation sold a 50% interest in Hess Infrastructure Partners LP (HIP) to Global Infrastructure Partners (GIP) for net cash consideration of approximately $2.6 billion. HIP and its affiliates comprise the Corporation’s Bakken Midstream operating segment which provides fee-based services including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids (NGLs), 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. Such services are currently provided solely to the Corporation’s Bakken shale operations under tariff agreements with Bakken Midstream entities, with plans to market services to third parties in the future. The Corporation operates the Bakken Midstream assets and operations, including routine and emergency maintenance and repair services under various operational and administrative services agreements. The tariff agreements between the Corporation and the Bakken Midstream entities are 10-year, fee-based commercial agreements, with HIP having the sole option to renew the agreements for an additional 10-year term. These agreements include minimum volume commitments based on dedicated production, inflation escalators and fee recalculation mechanisms. The Bakken Midstream segment has minimal direct commodity price exposure, and the Corporation retains ownership of the crude oil, natural gas or natural gas liquids processed, terminaled, stored or transported by the Bakken Midstream segment. The Corporation consolidates the activities of HIP, which qualifies as a variable interest entity (VIE) under U.S. generally accepted accounting principles. The Corporation, through its 50% ownership, has concluded that it is the primary beneficiary of the VIE, as defined in the accounting standards, since it has the power to direct those activities that most significantly impact the economic performance of HIP. This conclusion was based on a qualitative analysis that considered HIP’s governance structure, the commercial agreements between HIP and the Corporation, and the voting rights established between the members which provide the Corporation the ability to control the operations of HIP. As a result of the July 1, 2015 sale transaction, the Corporation recorded an after-tax gain of $759 million in additional paid-in-capital and an increase to total shareholder’s equity of $1,305 million in noncontrolling interest representing GIP’s proportional share of the Corporation’s basis in the net assets of HIP. The results attributable to GIP’s 50% ownership is reported within Net income (loss) attributable to noncontrolling interests in the Statement of Consolidated Income Consolidated Balance Sheet Upon formation, the joint venture incurred $600 million of debt through a 5-year Term Loan A facility with the proceeds distributed equally to the partners. See Note 7, Debt

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations	3. 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 Sales and other operating revenues and Income (loss) from discontinued operations were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In millions) Sales and other operating revenues $ — $ 3,096 $ 14 $ 9,346 Income (loss) from discontinued operations before income taxes $ (16 ) $ 1,057 $ (59 ) $ 1,063 Current tax provision (benefit) — — — — Deferred tax provision (benefit) (3 ) 386 (19 ) 379 Provision (benefit) for income taxes (3 ) 386 (19 ) 379 Income (loss) from discontinued operations, net of income taxes $ (13 ) $ 671 $ (40 ) $ 684 Less: Net income (loss) attributable to noncontrolling interests — 22 — 56 Income (loss) from discontinued operations attributable to Hess Corporation $ (13 ) $ 649 $ (40 ) $ 628 In September 2014, the Corporation completed the sale of its retail business for cash proceeds of approximately $2.8 billion. This transaction resulted in a pre-tax gain of $954 million ($602 million after income taxes). 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	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	4. Inventories Inventories consisted of the following: September 30, December 31, 2015 2014 (In millions) Crude oil and natural gas liquids $ 217 $ 246 Materials and supplies 318 281 Total inventories $ 535 $ 527

Capitalized Exploratory Well Co

Capitalized Exploratory Well Costs	9 Months Ended
	Sep. 30, 2015
Capitalized Exploratory Well Costs [Abstract]
Capitalized Exploratory Well Costs	5. Capitalized Exploratory Well Costs The following table discloses the net changes in capitalized exploratory well costs pending determination of proved reserves for the nine months ended September 30, 2015 (in millions): Balance at January 1 $ 1,416 Additions to capitalized exploratory well costs pending the determination of proved reserves 326 Reclassifications to wells, facilities and equipment based on the determination of proved reserves (72 ) Capitalized exploratory well costs charged to expense (120 ) Balance at September 30, 2015 $ 1,550 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 $60 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 $1,293 million at September 30, 2015. Approximately 65% 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 35% 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 discoveries 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 three appraisal wells in Ghana. Well results continue to be evaluated and development planning is progressing The government of Côte d’Ivoire has challenged the maritime border between it and the country of Ghana, which includes a portion of our Deepwater Tano Cape Three Points license. We are unable to proceed with development of this license until there is a resolution of this matter, which may also impact our ability to develop the license.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	6. 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. 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 September 30, 2015 $ 1,098 $ 375 $ 1,473

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	7. 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 September 30, 2015, borrowings on the facility will generally bear interest at a rate of 1.075% above the London Interbank Offered Rate (LIBOR) 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 September 30, 2015, there were no borrowings outstanding or letters of credit issued against the syndicated revolving credit facility. In July 2015, HIP, a 50/50 joint venture between the Corporation and GIP, incurred $600 million of debt through a 5-year Term Loan A facility. The proceeds from the debt were distributed equally to the partners. HIP also entered into a $400 million 5-year syndicated revolving credit facility, which can be used for borrowings and letters of credit and is expected to fund the joint venture’s operating activities and capital expenditures. Borrowings on both loan facilities generally bear interest at LIBOR plus an applicable margin ranging from 1.10% to 2.00%. Facility fees on the revolving credit facility accrue at an applicable rate every quarter, ranging from 0.15% to 0.35% per annum. Prior to obtaining credit ratings, applicable interest margins and facility fees are based on the joint venture’s leverage ratio, which is calculated as total debt to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA). If the joint venture obtains credit ratings, pricing levels will be based on its credit ratings in effect from time to time. The joint venture is subject to customary covenants in the credit agreement, including financial covenants that generally require a leverage ratio of no more than 5.0 to 1.0 for the prior four fiscal quarters and an interest coverage ratio, which is calculated as EBITDA to interest expense, of no less than 2.25 to 1.0 for the prior four fiscal quarters. At September 30, 2015, borrowings attributable to the joint venture amounted to $600 million on the Term Loan A loan facility. This debt is non-recourse to the Corporation.

Dispositions

Dispositions	9 Months Ended
	Sep. 30, 2015
Disposition Of Businesses [Abstract]
Dispositions	8. Dispositions In the third quarter of 2015, the Corporation completed the sale of approximately 13,000 acres of Utica dry gas acreage for a sales price of approximately $120 million. The transaction resulted in a pre-tax gain of $49 million ($31 million after income taxes).

Exit and Severance Costs

Exit and Severance Costs	9 Months Ended
	Sep. 30, 2015
Restructuring And Related Activities [Abstract]
Exit and Severance Costs	9. Exit and Severance Costs During the nine months ended September 30, 2015, the Corporation recorded exit related costs of $11 million associated with vacant office space. During the three and nine months ended September 30, 2014, the Corporation recorded exit related costs of $20 million and $44 million, respectively. In addition, the Corporation incurred severance expense of $11 million for the three and nine months ended September 30, 2015 and incurred severance expense totaling $16 million and $77 million during the three months and nine months ended September 30, 2014, respectively, primarily related to the Corporation’s divestiture program. During the three and nine months ended September 30, 2015, payments for accrued severance costs amounted to $6 million and $43 million, respectively. The Corporation has accrued liabilities of $20 million for exit related costs and $44 million for severance at September 30, 2015.

Retirement Plans

Retirement Plans	9 Months Ended
	Sep. 30, 2015
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	10. Retirement Plans Components of net periodic pension cost consisted of the following: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In millions) Service cost $ 18 $ 15 $ 53 $ 40 Interest cost 26 26 78 75 Expected return on plan assets (42 ) (41 ) (127 ) (121 ) Amortization of unrecognized net actuarial losses 19 8 58 23 Settlement loss 10 11 15 19 Pension expense $ 31 $ 19 $ 77 $ 36 In 2015, the Corporation expects to contribute approximately $45 million to its funded pension plans. Through September 30, 2015, the Corporation contributed $41 million of this amount.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes In the third quarter of 2015, the Corporation received approval for an international investment incentive. As a result, the Corporation recognized a tax benefit of $50 million in the current period.

Weighted Average Common Shares

Weighted Average Common Shares	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Weighted Average Common Shares	12. 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 Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In millions, except per share amounts) Net income (loss) from continuing operations, net of income taxes $ (239 ) $ 359 $ (1,168 ) $ 1,697 Less: Net income (loss) attributable to noncontrolling interests 27 — 27 — Net income (loss) from continuing operations attributable to Hess Corporation $ (266 ) $ 359 $ (1,195 ) $ 1,697 Income (loss) from discontinued operations, net of income taxes (13 ) 671 (40 ) 684 Less: Net income (loss) attributable to noncontrolling interests — 22 — 56 Net income (loss) from discontinued operations attributable to Hess Corporation (13 ) 649 (40 ) 628 Net income (loss) attributable to Hess Corporation $ (279 ) $ 1,008 $ (1,235 ) $ 2,325 Weighted average common shares outstanding: Basic 283.5 300.7 283.8 308.6 Effect of dilutive securities Restricted common stock — 1.5 — 1.4 Stock options — 2.0 — 2.0 Performance share units — 0.8 — 0.7 Diluted 283.5 305.0 283.8 312.7 Net income (loss) attributable to Hess Corporation per share: Basic: Continuing operations $ (0.94 ) $ 1.19 $ (4.21 ) $ 5.51 Discontinued operations (0.04 ) 2.16 (0.14 ) 2.03 Net income (loss) per share $ (0.98 ) $ 3.35 $ (4.35 ) $ 7.54 Diluted: Continuing operations $ (0.94 ) $ 1.18 $ (4.21 ) $ 5.43 Discontinued operations (0.04 ) 2.13 (0.14 ) 2.01 Net income (loss) per share $ (0.98 ) $ 3.31 $ (4.35 ) $ 7.44 The Corporation granted 1,127,242 shares of restricted stock, 362,873 performance share units (PSUs) and 521,773 stock options during the nine months ended September 30, 2015 and 1,073,179 shares of restricted stock, 298,222 PSUs and 162,911 stock options for the same period in 2014. The Corporation excluded 6,983,524 stock options, 2,955,200 restricted stock awards and 915,238 PSUs from the computation of diluted shares for the three months ended September 30, 2015 and excluded 6,928,958 stock options, 2,953,075 restricted stock awards and 988,963 PSUs from the computation of diluted shares for the nine months ended September 30, 2015 as they are anti-dilutive. The weighted average common shares used in the diluted earnings per share calculations for the three and nine months ended September 30, 2014 excluded stock options amounting to 124,357 and 1,214,422, 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 third quarter and first nine months of 2015, the Corporation purchased $55 million and $91 million of common stock, respectively. As of September 30, 2015 total shares repurchased under the plan were 64.1 million shares at a cost of approximately $5.4 billion.

Guarantees and Contingencies

Guarantees and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Guarantees and Contingencies	13. Guarantees and Contingencies The Corporation is subject to loss contingencies with respect to various claims, lawsuits and other proceedings. A liability is recognized in the Corporation’s consolidated financial statements when it is probable that a loss has been incurred and the amount can be reasonably estimated. If the risk of loss is probable, but the amount cannot be reasonably estimated or the risk of loss is only reasonably possible, a liability is not accrued; however, the Corporation discloses the nature of those contingencies. The Corporation cannot predict with certainty if, how or when existing claims, lawsuits and 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 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. On September 15, 2015, HOVENSA filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States District Court of the Virgin Islands - Bankruptcy Division (the “Bankruptcy Court”). As part of its chapter 11 case, HOVENSA is pursuing a court-supervised sale process, seeking to sell all or substantially all of its assets pursuant to section 363 of the Bankruptcy Code. The Bankruptcy Court has approved certain procedures by which HOVENSA will receive bids for its assets and determine the eventual buyer of its assets in the section 363 sale process. The Bankruptcy Court also entered an order approving HOVENSA’s entry into a $40 million debtor-in-possession credit facility with HOVENSA’s owners for the purpose of funding HOVENSA through December 31, 2015. HOVIC has committed to fund up to $20 million, if needed, to HOVENSA, with PDVSA funding the remainder of the facility. The Corporation cannot predict with certainty if, how, or when HOVENSA’s chapter 11 case will be resolved. As part of HOVENSA’s chapter 11 case, parties, including the government of the Virgin Islands and other creditors, may pursue claims against HOVENSA, HOVIC, or the Registrant relating to the ownership and management of, and business dealings with HOVENSA. On September 13, 2015, two days before HOVENSA filed for chapter 11 relief, the government of the U.S. Virgin Islands filed a complaint against the Corporation in the territorial Superior Court of the Virgin Islands, Division of St. Croix, alleging, among other things, that the Corporation violated the Territory’s Criminally Influenced and Corrupt Organizations Act and committed various torts in connection with the 50% ownership interest of its subsidiary, HOVIC, in HOVENSA. In the complaint, the government of the U.S. Virgin Islands claims aggregate damages of up to approximately $1.5 billion and is seeking a treble damage award with respect to certain claims. The Corporation has filed a notice removing the complaint to the federal District Court of the Virgin Islands and filed a motion to refer the complaint to the Bankruptcy Court presiding over HOVENSA’s chapter 11 case. The Corporation will vigorously defend itself and believes that it has strong defenses against these claims alleged by the government of the U.S. Virgin Islands. In February 2015, the Pension Benefit Guaranty Corporation (PBGC) issued a notice of determination to terminate the HOVENSA pension plan. Resolution of this matter with the PBGC will likely occur in connection with HOVENSA's pending chapter 11 case. 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	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	14. 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 fee-based 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 September 30, 2015 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 1,671 $ — $ — $ — $ 1,671 Intersegment Revenues — 148 — (148 ) — Operating Revenues $ 1,671 $ 148 $ — $ (148 ) $ 1,671 Net income (loss) from continuing operations attributable to Hess Corporation $ (188 ) $ 16 $ (94 ) $ — $ (266 ) Depreciation, depletion and amortization 963 22 3 — 988 Provision (benefit) for income taxes (256 ) 10 (54 ) — (300 ) Capital Expenditures* 770 88 — — 858 For the Three Months Ended September 30, 2014 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 2,678 $ — $ — $ — $ 2,678 Intersegment Revenues — 89 — (89 ) — Operating Revenues $ 2,678 $ 89 $ — $ (89 ) $ 2,678 Net income (loss) from continuing operations attributable to Hess Corporation $ 433 $ 8 $ (82 ) $ — $ 359 Depreciation, depletion and amortization 815 19 4 — 838 Provision (benefit) for income taxes 278 5 (51 ) — 232 Capital Expenditures* 1,296 47 19 — 1,362 For the Nine Months Ended September 30, 2015 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 5,162 $ — $ — $ — $ 5,162 Intersegment Revenues — 423 — (423 ) — Operating Revenues $ 5,162 $ 423 $ — $ (423 ) $ 5,162 Net income (loss) from continuing operations attributable to Hess Corporation $ (1,004 ) $ 75 $ (266 ) $ — $ (1,195 ) Depreciation, depletion and amortization 2,899 65 8 — 2,972 Provision (benefit) for income taxes (687 ) 45 (165 ) — (807 ) Capital Expenditures* 2,915 193 — — 3,108 For the Nine Months Ended September 30, 2014 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 8,180 $ — $ — $ — $ 8,180 Intersegment Revenues — 218 — (218 ) — Operating Revenues $ 8,180 $ 218 $ — $ (218 ) $ 8,180 Net income (loss) from continuing operations attributable to Hess Corporation $ 2,003 $ 2 $ (308 ) $ — $ 1,697 Depreciation, depletion and amortization 2,289 48 12 — 2,349 Provision (benefit) for income taxes 754 2 (193 ) — 563 Capital Expenditures* 3,491 168 51 — 3,710 * Capital expenditures include accruals. Identifiable assets by operating segment were as follows: September 30, December 31, 2015 2014 (In millions) Exploration and Production $ 30,898 $ 32,742 Bakken Midstream 2,650 2,465 Corporate, Interest and Other 2,908 2,213 Continuing operations 36,456 37,420 Discontinued operations — 1,158 Total $ 36,456 $ 38,578

Financial Risk Management

Financial Risk Management	9 Months Ended
	Sep. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Risk Management	15. 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: September 30, December 31, 2015 2014 Commodity, primarily crude oil (millions of barrels) 9 — Foreign exchange (millions of USD) $ 985 $ 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 gains from Brent and WTI crude oil collars for the three and nine months ended September 30, 2015 increased Sales and other operating revenues by $42 million and $24 million, respectively, which was net of pre-tax losses of $23 million and $46 million, respectively, associated with changes in time value of the hedging contracts. Realized and unrealized gains in 2014 amounted to $37 million and $36 million for the three months and nine months ended September 30, 2014, respectively. There was no significant hedge ineffectiveness for the three months and nine months ended September 30, 2015. The Corporation recorded gains associated with hedge ineffectiveness of approximately $6 million and $2 million for the three months and nine months ended September 30, 2014, respectively. At September 30, 2015, the after-tax deferred gains in Accumulated other comprehensive income (loss) related to crude oil collars was approximately $47 million, which will be reclassified into earnings during 2015 as the hedged crude oil sales are recognized in earnings. At September 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 increases of $10 million and $14 million for the three months and nine months ended September 30, 2015, respectively, and decreases of $10 million and $5 million for the three months and nine months ended September 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 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) September 30, 2015 Assets Derivative contracts Commodity $ 97 $ (21 ) $ — $ 76 $ — $ 76 Interest rate and other 33 (4 ) — 29 — 29 Counterparty netting — — — — — — Total derivative contracts $ 130 $ (25 ) $ — $ 105 $ — $ 105 Liabilities Derivative contracts Commodity $ (24 ) $ 21 $ — $ (3 ) $ — $ (3 ) Other (4 ) 4 — — — — Counterparty netting — — — — — — Total derivative contracts $ (28 ) $ 25 $ — $ (3 ) $ — $ (3 ) 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) September 30, 2015 Derivative contracts designated as hedging instruments Commodity $ 76 $ — Interest rate and other 14 — Total derivative contracts designated as hedging instruments 90 — Derivative contracts not designated as hedging instruments Commodity 21 (24 ) Foreign exchange 19 (4 ) Total derivative contracts not designated as hedging instruments 40 (28 ) Gross fair value of derivative contracts 130 (28 ) Master netting arrangements (25 ) 25 Net fair value of derivative contracts $ 105 $ (3 ) At September 30, 2015, Level 1 items comprised $3 million of Derivative liabilities. Level 2 items comprised Derivative assets of $105 million, which included commodity contracts of $76 million and interest rate and other items of $29 million. The Corporation did not have Level 3 instruments at September 30, 2015. For all other short-term financial instruments, primarily cash and cash equivalents, accounts receivable and accounts payable, the carrying value approximated the respective fair value at September 30, 2015. Total Long-term debt of $6,552 million at September 30, 2015, had a fair value of $6,935 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.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements: In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , as a new Accounting Standards Codification (ASC) Topic ASC 606. This ASU is effective for the Corporation beginning in the first quarter of 2018 , with early adoption permitted from the first quarter of 2017. The Corporation is currently assessing the impact of the ASU on its consolidated financial statements. 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)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In millions) Sales and other operating revenues $ — $ 3,096 $ 14 $ 9,346 Income (loss) from discontinued operations before income taxes $ (16 ) $ 1,057 $ (59 ) $ 1,063 Current tax provision (benefit) — — — — Deferred tax provision (benefit) (3 ) 386 (19 ) 379 Provision (benefit) for income taxes (3 ) 386 (19 ) 379 Income (loss) from discontinued operations, net of income taxes $ (13 ) $ 671 $ (40 ) $ 684 Less: Net income (loss) attributable to noncontrolling interests — 22 — 56 Income (loss) from discontinued operations attributable to Hess Corporation $ (13 ) $ 649 $ (40 ) $ 628

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: September 30, December 31, 2015 2014 (In millions) Crude oil and natural gas liquids $ 217 $ 246 Materials and supplies 318 281 Total inventories $ 535 $ 527

Capitalized Exploratory Well 26

Capitalized Exploratory Well Costs (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2015 (in millions): Balance at January 1 $ 1,416 Additions to capitalized exploratory well costs pending the determination of proved reserves 326 Reclassifications to wells, facilities and equipment based on the determination of proved reserves (72 ) Capitalized exploratory well costs charged to expense (120 ) Balance at September 30, 2015 $ 1,550

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 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 September 30, 2015 $ 1,098 $ 375 $ 1,473

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In millions) Service cost $ 18 $ 15 $ 53 $ 40 Interest cost 26 26 78 75 Expected return on plan assets (42 ) (41 ) (127 ) (121 ) Amortization of unrecognized net actuarial losses 19 8 58 23 Settlement loss 10 11 15 19 Pension expense $ 31 $ 19 $ 77 $ 36

Weighted Average Common Shares

Weighted Average Common Shares (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (In millions, except per share amounts) Net income (loss) from continuing operations, net of income taxes $ (239 ) $ 359 $ (1,168 ) $ 1,697 Less: Net income (loss) attributable to noncontrolling interests 27 — 27 — Net income (loss) from continuing operations attributable to Hess Corporation $ (266 ) $ 359 $ (1,195 ) $ 1,697 Income (loss) from discontinued operations, net of income taxes (13 ) 671 (40 ) 684 Less: Net income (loss) attributable to noncontrolling interests — 22 — 56 Net income (loss) from discontinued operations attributable to Hess Corporation (13 ) 649 (40 ) 628 Net income (loss) attributable to Hess Corporation $ (279 ) $ 1,008 $ (1,235 ) $ 2,325 Weighted average common shares outstanding: Basic 283.5 300.7 283.8 308.6 Effect of dilutive securities Restricted common stock — 1.5 — 1.4 Stock options — 2.0 — 2.0 Performance share units — 0.8 — 0.7 Diluted 283.5 305.0 283.8 312.7 Net income (loss) attributable to Hess Corporation per share: Basic: Continuing operations $ (0.94 ) $ 1.19 $ (4.21 ) $ 5.51 Discontinued operations (0.04 ) 2.16 (0.14 ) 2.03 Net income (loss) per share $ (0.98 ) $ 3.35 $ (4.35 ) $ 7.54 Diluted: Continuing operations $ (0.94 ) $ 1.18 $ (4.21 ) $ 5.43 Discontinued operations (0.04 ) 2.13 (0.14 ) 2.01 Net income (loss) per share $ (0.98 ) $ 3.31 $ (4.35 ) $ 7.44

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Financial Data and Identifiable Assets by Operating Segment	The following table presents operating segment financial data for continuing operations (in millions): For the Three Months Ended September 30, 2015 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 1,671 $ — $ — $ — $ 1,671 Intersegment Revenues — 148 — (148 ) — Operating Revenues $ 1,671 $ 148 $ — $ (148 ) $ 1,671 Net income (loss) from continuing operations attributable to Hess Corporation $ (188 ) $ 16 $ (94 ) $ — $ (266 ) Depreciation, depletion and amortization 963 22 3 — 988 Provision (benefit) for income taxes (256 ) 10 (54 ) — (300 ) Capital Expenditures* 770 88 — — 858 For the Three Months Ended September 30, 2014 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 2,678 $ — $ — $ — $ 2,678 Intersegment Revenues — 89 — (89 ) — Operating Revenues $ 2,678 $ 89 $ — $ (89 ) $ 2,678 Net income (loss) from continuing operations attributable to Hess Corporation $ 433 $ 8 $ (82 ) $ — $ 359 Depreciation, depletion and amortization 815 19 4 — 838 Provision (benefit) for income taxes 278 5 (51 ) — 232 Capital Expenditures* 1,296 47 19 — 1,362 For the Nine Months Ended September 30, 2015 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 5,162 $ — $ — $ — $ 5,162 Intersegment Revenues — 423 — (423 ) — Operating Revenues $ 5,162 $ 423 $ — $ (423 ) $ 5,162 Net income (loss) from continuing operations attributable to Hess Corporation $ (1,004 ) $ 75 $ (266 ) $ — $ (1,195 ) Depreciation, depletion and amortization 2,899 65 8 — 2,972 Provision (benefit) for income taxes (687 ) 45 (165 ) — (807 ) Capital Expenditures* 2,915 193 — — 3,108 For the Nine Months Ended September 30, 2014 Exploration and Production Bakken Midstream Corporate, Interest and Other Eliminations Total Operating Revenues - Third parties $ 8,180 $ — $ — $ — $ 8,180 Intersegment Revenues — 218 — (218 ) — Operating Revenues $ 8,180 $ 218 $ — $ (218 ) $ 8,180 Net income (loss) from continuing operations attributable to Hess Corporation $ 2,003 $ 2 $ (308 ) $ — $ 1,697 Depreciation, depletion and amortization 2,289 48 12 — 2,349 Provision (benefit) for income taxes 754 2 (193 ) — 563 Capital Expenditures* 3,491 168 51 — 3,710 Identifiable assets by operating segment were as follows: September 30, December 31, 2015 2014 (In millions) Exploration and Production $ 30,898 $ 32,742 Bakken Midstream 2,650 2,465 Corporate, Interest and Other 2,908 2,213 Continuing operations 36,456 37,420 Discontinued operations — 1,158 Total $ 36,456 $ 38,578

Financial Risk Management (Tabl

Financial Risk Management (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Gross Notional Volumes of Risk Management Derivative Contracts Outstanding	The gross notional volumes of Corporate risk management derivative contracts outstanding were as follows: September 30, December 31, 2015 2014 Commodity, primarily crude oil (millions of barrels) 9 — Foreign exchange (millions of USD) $ 985 $ 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) September 30, 2015 Assets Derivative contracts Commodity $ 97 $ (21 ) $ — $ 76 $ — $ 76 Interest rate and other 33 (4 ) — 29 — 29 Counterparty netting — — — — — — Total derivative contracts $ 130 $ (25 ) $ — $ 105 $ — $ 105 Liabilities Derivative contracts Commodity $ (24 ) $ 21 $ — $ (3 ) $ — $ (3 ) Other (4 ) 4 — — — — Counterparty netting — — — — — — Total derivative contracts $ (28 ) $ 25 $ — $ (3 ) $ — $ (3 )
Gross and Net Fair Values of Risk Management Derivative Instruments	The table below reflects the gross and net fair values of risk management derivative instruments: Accounts Accounts Receivable Payable (In millions) September 30, 2015 Derivative contracts designated as hedging instruments Commodity $ 76 $ — Interest rate and other 14 — Total derivative contracts designated as hedging instruments 90 — Derivative contracts not designated as hedging instruments Commodity 21 (24 ) Foreign exchange 19 (4 ) Total derivative contracts not designated as hedging instruments 40 (28 ) Gross fair value of derivative contracts 130 (28 ) Master netting arrangements (25 ) 25 Net fair value of derivative contracts $ 105 $ (3 )

Bakken Midstream Joint Venture

Bakken Midstream Joint Venture - Additional Information (Detail) - USD ($) $ in Millions	Jul. 02, 2015	Sep. 30, 2015	Jul. 01, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Variable Interest Entity [Line Items]
Percentage interest sold of Hess Infrastructure Partners			50.00%	50.00%
Proceeds from sale of interest in Hess Infrastructure Partners	$ 2,600
Term of tariff agreements between the Corporation and Bakken Midstream		10 years
Additional renewal period of tariff agreements by Bakken Midstream		10 years
Hess Corporation's ownership percentage in Bakken Midstream		50.00%
After tax gain from sale of equity interest		$ 2,064
Noncontrolling interest, ownership percentage		50.00%
Cash and cash equivalents		$ 3,013			$ 2,444	$ 4,120	$ 1,814
Property, plant and equipment, net		26,883			$ 27,517
Bakken Midstream
Variable Interest Entity [Line Items]
Term Loan A facility - Face amount		$ 600	$ 600
Term Loan A facility - Term	5 years	5 years
Cash and cash equivalents		$ 9
Property, plant and equipment, net		$ 2,233
Bakken Midstream liabilities non-recourse to Hess Corporation		liabilities totaling $727 million
Capital in Excess of Par
Variable Interest Entity [Line Items]
After tax gain from sale of equity interest		$ 759
Noncontrolling Interests
Variable Interest Entity [Line Items]
After tax gain from sale of equity interest		$ 1,305

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Discontinued Operations And Disposal Groups [Abstract]
Sales and other operating revenues	$ 0	$ 3,096	$ 14	$ 9,346
Income (loss) from discontinued operations before income taxes	(16)	1,057	(59)	1,063
Current tax provision (benefit)	0	0	0	0
Deferred tax provision (benefit)	(3)	386	(19)	379
Provision (benefit) for income taxes	(3)	386	(19)	379
Income (loss) from discontinued operations, net of income taxes	(13)	671	(40)	684
Less: Net income (loss) attributable to noncontrolling interests	0	22	0	56
Income (loss) from discontinued operations attributable to Hess Corporation	$ (13)	$ 649	$ (40)	$ 628

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2014
Discontinued Operations And Disposal Groups [Abstract]
Cash proceeds from the sale of Corporation's Retail Business	$ 2,800
Gain (loss) on the sale of Corporation's Retail Business, pre-tax	954
Gain (loss) on the sale of Corporation's Retail Business, after-tax	$ 602
Assets associated with HETCO - Reported in Other current assets		$ 1,035
Liabilities associated with HETCO - Reported in Accrued liabilities		$ 797

Inventories - Inventories (Deta

Inventories - Inventories (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Crude oil and natural gas liquids	$ 217	$ 246
Materials and supplies	318	281
Total inventories	$ 535	$ 527

Capitalized Exploratory Well 36

Capitalized Exploratory Well Costs - Net Changes in Capitalized Exploratory Well Costs (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Capitalized Exploratory Well Costs [Abstract]
Beginning balance	$ 1,416
Additions to capitalized exploratory well costs pending the determination of proved reserves	326
Reclassifications to wells, facilities and equipment based on the determination of proved reserves	(72)
Capitalized exploratory well costs charged to expense	(120)
Ending balance	$ 1,550

Capitalized Exploratory Well 37

Capitalized Exploratory Well Costs - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)Well
Projects With Exploratory Well Costs Capitalized For More Than One Year [Line Items]
Exploratory dry hole costs which were incurred and subsequently expensed | $	$ 60
Capitalized exploratory well costs that have been capitalized for period greater than one year | $	$ 1,293
Block WA-390-P, Offshore Western Australia
Projects With Exploratory Well Costs Capitalized For More Than One Year [Line Items]
Capitalized well costs percentage	65.00%
Offshore Ghana
Projects With Exploratory Well Costs Capitalized For More Than One Year [Line Items]
Capitalized well costs percentage	35.00%
Appraisal plans for this number of wells submitted to the Ghanaian government	7
This number of appraisal wells was approved by the Ghanaian government	4
This number of appraisal wells is pending approval by the Ghanaian government	3
This number of approved appraisal wells is completed	3

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2015USD ($)Segment	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)Segment	Jul. 01, 2015
Goodwill [Line Items]
Number of operating segments for the Corporation | Segment				2
Number of reporting units in Exploration and Production segment | Segment						2
GOODWILL	$ 1,473			$ 1,473		$ 1,858
Reclassification				0
Impairment	0	$ 0	$ 385	385	$ 0
Impairment after income taxes			$ 385
Percentage interest sold of Bakken Midstream			50.00%				50.00%
Offshore Reporting Unit of Exploration and Production Segment
Goodwill [Line Items]
GOODWILL						1,098
Onshore Reporting Unit of Exploration and Production Segment
Goodwill [Line Items]
GOODWILL						760
Bakken Midstream
Goodwill [Line Items]
GOODWILL	$ 375			375		$ 0
Reclassification			$ 375	375
Impairment				$ 0

Goodwill - Changes in Carrying

Goodwill - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Goodwill [Line Items]
Beginning balance at January 1			$ 1,858	$ 1,858
Reclassification				0
Impairment	$ 0	$ 0	(385)	(385)	$ 0
Ending balance at September 30, 2015	1,473			1,473
Exploration and Production
Goodwill [Line Items]
Beginning balance at January 1			1,858	1,858
Reclassification				(375)
Impairment				(385)
Ending balance at September 30, 2015	1,098			1,098
Bakken Midstream
Goodwill [Line Items]
Beginning balance at January 1			0	0
Reclassification			$ 375	375
Impairment				0
Ending balance at September 30, 2015	$ 375			$ 375

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Jul. 02, 2015	Jan. 31, 2015	Sep. 30, 2015	Jul. 01, 2015
Bakken Midstream
Line Of Credit Facility [Line Items]
Revolving credit facility - Capacity			$ 400,000,000	$ 400,000,000
Revolving credit facility – Facility fee (per annum)			0.15%
Term Loan A facility - Face amount			$ 600,000,000	$ 600,000,000
Term Loan A facility - Term	5 years		5 years
Revolving credit facility - Term	5 years		5 years
Leverage ratio - Maximum			5
Interest coverage ratio - Minimum			2.25
Term Loan A facility - Carrying amount			$ 600,000,000
Bakken Midstream | Maximum
Line Of Credit Facility [Line Items]
Revolving credit facility – Facility fee (per annum)			0.35%
London Interbank Offered Rate | Bakken Midstream
Line Of Credit Facility [Line Items]
Interest rate - Minimum			1.10%
Interest rate - Maximum			2.00%
New Revolving Credit Facility
Line Of Credit Facility [Line Items]
Revolving credit facility - Capacity		$ 4,000,000,000	$ 4,000,000,000
Revolving credit facility - Expiration date		2020-01	2020-01
Revolving credit facility – Facility fee (per annum)			0.175%
Revolving credit facility - Borrowings			$ 0
Letters of credit – Issued			$ 0
New Revolving Credit Facility | London Interbank Offered Rate
Line Of Credit Facility [Line Items]
Revolving credit facility – Interest rate			1.075%
Previous Revolving Credit Facility
Line Of Credit Facility [Line Items]
Revolving credit facility - Capacity		$ 4,000,000,000
Revolving credit facility - Expiration date		2016-04

Dispositions - Additional Infor

Dispositions - Additional Information (Detail) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015USD ($)a	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Disposition Of Businesses [Line Items]
Gain (loss) on asset sale, pre-tax		$ 50	$ 820
Utica Dry Gas Acreage
Disposition Of Businesses [Line Items]
Net acres of Utica dry gas acreage sold | a	13,000
Sales price of Utica dry gas acreage sold	$ 120
Gain (loss) on asset sale, pre-tax	49
Gain (loss) on asset sale, after-tax	$ 31

Exit and Severance Costs - Addi

Exit and Severance Costs - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restructuring And Related Activities [Abstract]
Exit related costs		$ 20	$ 11	$ 44
Severance expense	$ 11	$ 16	11	$ 77
Payments for accrued severance costs	6		43
Accrued exit related costs	20		20
Accrued severance costs	$ 44		$ 44

Retirement Plans - Components o

Retirement Plans - Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Compensation And Retirement Disclosure [Abstract]
Service cost	$ 18	$ 15	$ 53	$ 40
Interest cost	26	26	78	75
Expected return on plan assets	(42)	(41)	(127)	(121)
Amortization of unrecognized net actuarial losses	19	8	58	23
Settlement loss	10	11	15	19
Pension expense	$ 31	$ 19	$ 77	$ 36

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Compensation And Retirement Disclosure [Abstract]
Corporation's estimated contribution for funded pension plans during the current year	$ 45
Corporation's contribution for funded pension plan during the current year	$ 41

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Millions	3 Months Ended
	Sep. 30, 2015USD ($)
Income Tax Disclosure [Abstract]
Recognized tax benefit for international investment incentive	$ 50

Weighted Average Common Share46

Weighted Average Common Shares - Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Basic And Diluted Earnings Per Share [Line Items]
Net income (loss) from continuing operations, net of income taxes	$ (239)	$ 359	$ (1,168)	$ 1,697
Less: Net income (loss) attributable to noncontrolling interests	27	0	27	0
Net income (loss) from continuing operations attributable to Hess Corporation	(266)	359	(1,195)	1,697
Income (loss) from discontinued operations, net of income taxes	(13)	671	(40)	684
Less: Net income (loss) attributable to noncontrolling interests	0	22	0	56
Income (loss) from discontinued operations attributable to Hess Corporation	(13)	649	(40)	628
NET INCOME (LOSS) ATTRIBUTABLE TO HESS CORPORATION	$ (279)	$ 1,008	$ (1,235)	$ 2,325
Weighted Average Common Shares Outstanding:
Shares outstanding – Basic	283,500,000	300,700,000	283,800,000	308,600,000
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (DILUTED)	283,500,000	305,000,000	283,800,000	312,700,000
Net Income (Loss) Attributable to Hess Corporation Per Share – Basic :
Continuing operations	$ (0.94)	$ 1.19	$ (4.21)	$ 5.51
Discontinued operations	(0.04)	2.16	(0.14)	2.03
NET INCOME (LOSS) PER SHARE	(0.98)	3.35	(4.35)	7.54
Net Income (Loss) Attributable to Hess Corporation Per Share – Diluted:
Continuing operations	(0.94)	1.18	(4.21)	5.43
Discontinued operations	(0.04)	2.13	(0.14)	2.01
NET INCOME (LOSS) PER SHARE	$ (0.98)	$ 3.31	$ (4.35)	$ 7.44
Restricted Common Stock
Weighted Average Common Shares Outstanding:
Shares outstanding – Effect of dilutive securities	0	1,500,000	0	1,400,000
Antidilutive shares excluded from computation of diluted shares	2,955,200		2,953,075
Stock Options
Weighted Average Common Shares Outstanding:
Shares outstanding – Effect of dilutive securities	0	2,000,000	0	2,000,000
Antidilutive shares excluded from computation of diluted shares	6,983,524	124,357	6,928,958	1,214,422
Performance Share Units
Weighted Average Common Shares Outstanding:
Shares outstanding – Effect of dilutive securities	0	800,000	0	700,000
Antidilutive shares excluded from computation of diluted shares	915,238		988,963

Weighted Average Common Share47

Weighted Average Common Shares - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Shares granted, restricted stock		1,127,242	1,073,179
Shares granted, performance share units		362,873	298,222
Shares granted, stock options		521,773	162,911
Repurchase of outstanding common stock permitted	$ 6,500,000,000	$ 6,500,000,000
Common stock, shares purchased value	$ 55,000,000	$ 91,000,000	$ 2,669,000,000
Number of shares purchased	64,100,000	64,100,000
Shares purchased value	$ 5,400,000,000	$ 5,400,000,000

Guarantees and Contingencies -

Guarantees and Contingencies - Additional Information (Detail) - USD ($)	Sep. 13, 2015	Dec. 31, 2014	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
HOVENSA’s interest in joint venture			50.00%
Pursuant to settlement agreement with the government of U.S. Virgin Islands, settlement amount paid by HOVENSA		$ 3,500,000
Pursuant to settlement agreement with the government of U.S. Virgin Islands, additional settlement amount not yet paid by HOVENSA			$ 40,000,000
Maximum amount committed to fund by HOVIC			20,000,000
HOVENSA's debtor-in-possession credit facility amount			$ 40,000,000
Maximum amount of aggregate damages claims by the government of U.S. Virgin Islands	$ 1,500,000,000

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015Segment
Segment Reporting [Abstract]
Number of operating segments for the Corporation	2

Segment Information - Financial

Segment Information - Financial Data and Identifiable Assets by Operating Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Operating Revenues - Third parties	$ 1,671	$ 2,678	$ 5,162	$ 8,180
Operating Revenues	1,671	2,678	5,162	8,180
Net income (loss) from continuing operations attributable to Hess Corporation	(266)	359	(1,195)	1,697
Depreciation, depletion and amortization	988	838	2,972	2,349
Provision (benefit) for income taxes	(300)	232	(807)	563
Capital Expenditures	858	1,362	3,108	3,710
Identifiable assets	36,456		36,456		$ 38,578
Continuing Operations
Segment Reporting Information [Line Items]
Identifiable assets	36,456		36,456		37,420
Discontinued Operations
Segment Reporting Information [Line Items]
Identifiable assets					1,158
Exploration and Production
Segment Reporting Information [Line Items]
Operating Revenues - Third parties	1,671	2,678	5,162	8,180
Operating Revenues	1,671	2,678	5,162	8,180
Net income (loss) from continuing operations attributable to Hess Corporation	(188)	433	(1,004)	2,003
Depreciation, depletion and amortization	963	815	2,899	2,289
Provision (benefit) for income taxes	(256)	278	(687)	754
Capital Expenditures	770	1,296	2,915	3,491
Identifiable assets	30,898		30,898		32,742
Bakken Midstream
Segment Reporting Information [Line Items]
Intersegment Revenue	148	89	423	218
Operating Revenues	148	89	423	218
Net income (loss) from continuing operations attributable to Hess Corporation	16	8	75	2
Depreciation, depletion and amortization	22	19	65	48
Provision (benefit) for income taxes	10	5	45	2
Capital Expenditures	88	47	193	168
Identifiable assets	2,650		2,650		2,465
Corporate, Interest and Other
Segment Reporting Information [Line Items]
Net income (loss) from continuing operations attributable to Hess Corporation	(94)	(82)	(266)	(308)
Depreciation, depletion and amortization	3	4	8	12
Provision (benefit) for income taxes	(54)	(51)	(165)	(193)
Capital Expenditures		19		51
Identifiable assets	2,908		2,908		$ 2,213
Eliminations
Segment Reporting Information [Line Items]
Intersegment Revenue	$ (148)	$ (89)	$ (423)	$ (218)

Financial Risk Management - Gro

Financial Risk Management - Gross Notional Volumes of Derivative Contracts Outstanding (Detail)	Sep. 30, 2015USD ($)MMBbls	Dec. 31, 2014USD ($)MMBbls
Commodity, Primarily Crude Oil
Derivative [Line Items]
Outstanding gross notional amount, in millions of barrels | MMBbls	9	0
Foreign Exchange
Derivative [Line Items]
Outstanding gross notional amount, in USD	$ 985,000,000	$ 1,189,000,000
Interest Rate Swaps
Derivative [Line Items]
Outstanding gross notional amount, in USD	$ 1,300,000,000	$ 1,300,000,000

Financial Risk Management - Cor

Financial Risk Management - Corporate Financial Risk Management Activities - Additional Information (Detail)	3 Months Ended			9 Months Ended
	Sep. 30, 2015USD ($)$ / bbl	Mar. 31, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)$ / bbl	Sep. 30, 2014USD ($)
Derivative Instruments Gain Loss [Line Items]
Amount of realized and unrealized gains (losses) from Brent & WTI crude oil collars, which impact Sales and other operating revenues	$ 42,000,000		$ 37,000,000	$ 24,000,000	$ 36,000,000
Pre-tax gains (losses) associated with changes in time value of Brent and WTI crude oil collars	(23,000,000)			(46,000,000)
Ineffectiveness gains (losses) from Brent and WTI crude oil collars	0		6,000,000	0	2,000,000
After-tax deferred gains in Accumulated other comprehensive income (loss) related to crude oil collars	47,000,000			47,000,000
Amount of cash proceeds received from settled interest rate swaps		$ 41,000,000		41,000,000
Change in the fair value of interest rate swaps - increase/(decrease)	10,000,000		(10,000,000)	14,000,000	(5,000,000)
Total foreign exchange gains and (losses) reported in Other, net in Revenues and Non-Operating Income in the Statement of Consolidated Income	(15,000,000)		19,000,000	(7,000,000)	(6,000,000)
Gains or (losses) on foreign exchange derivative contracts not designated as hedges	$ 13,000,000		$ 81,000,000	$ 71,000,000	$ 68,000,000
Brent Crude Oil Collars
Derivative Instruments Gain Loss [Line Items]
Description of hedged item				50,000 barrels of oil per day (bopd) from March 2015 to December 2015
Cost of hedging				$ 38,000,000
Under the terms of hedging, floor price per barrel | $ / bbl	60			60
Under the terms of hedging, ceiling price per barrel | $ / bbl	80			80
West Texas Intermediate Crude Oil Collars
Derivative Instruments Gain Loss [Line Items]
Description of hedged item				20,000 bopd from May 6, 2015 to December 2015
Cost of hedging				$ 10,000,000
Under the terms of hedging, floor price per barrel | $ / bbl	60			60
Under the terms of hedging, ceiling price per barrel | $ / bbl	80			80

Financial Risk Management - Net

Financial Risk Management - Netting Arrangements on Physical and Financial Derivative Assets and (Liabilities) (Detail) $ in Millions	Sep. 30, 2015USD ($)
Derivatives Fair Value [Line Items]
ASSETS – Gross Amounts	$ 130
ASSETS – Physical Derivative and Financial Instruments	(25)
ASSETS – Cash Collateral	0
ASSETS – Net Amounts Presented in the Consolidated Balance Sheet	105
ASSETS – Gross Amounts Not Offset in the Consolidated Balance Sheet	0
ASSETS – Net Amounts	105
LIABILITIES – Gross Amounts	(28)
LIABILITIES – Physical Derivative and Financial Instruments	25
LIABILITIES – Cash Collateral	0
LIABILITIES – Net Amounts Presented in the Consolidated Balance Sheet	(3)
LIABILITIES – Gross Amounts Not Offset in the Consolidated Balance Sheet	0
LIABILITIES – Net Amounts	(3)
Commodity
Derivatives Fair Value [Line Items]
ASSETS – Gross Amounts	97
ASSETS – Physical Derivative and Financial Instruments	(21)
ASSETS – Cash Collateral	0
ASSETS – Net Amounts Presented in the Consolidated Balance Sheet	76
ASSETS – Net Amounts	76
LIABILITIES – Gross Amounts	(24)
LIABILITIES – Physical Derivative and Financial Instruments	21
LIABILITIES – Cash Collateral	0
LIABILITIES – Net Amounts Presented in the Consolidated Balance Sheet	(3)
LIABILITIES – Net Amounts	(3)
Interest Rate and Other
Derivatives Fair Value [Line Items]
ASSETS – Gross Amounts	33
ASSETS – Physical Derivative and Financial Instruments	(4)
ASSETS – Cash Collateral	0
ASSETS – Net Amounts Presented in the Consolidated Balance Sheet	29
ASSETS – Net Amounts	29
Other
Derivatives Fair Value [Line Items]
LIABILITIES – Gross Amounts	(4)
LIABILITIES – Physical Derivative and Financial Instruments	4
LIABILITIES – Cash Collateral	0
Counterparty Netting
Derivatives Fair Value [Line Items]
ASSETS – Gross Amounts	0
ASSETS – Physical Derivative and Financial Instruments	0
ASSETS – Cash Collateral	0
ASSETS – Net Amounts Presented in the Consolidated Balance Sheet	0
ASSETS – Gross Amounts Not Offset in the Consolidated Balance Sheet	0
ASSETS – Net Amounts	0
LIABILITIES – Gross Amounts	0
LIABILITIES – Physical Derivative and Financial Instruments	0
LIABILITIES – Cash Collateral	0
LIABILITIES – Net Amounts Presented in the Consolidated Balance Sheet	0
LIABILITIES – Gross Amounts Not Offset in the Consolidated Balance Sheet	0
LIABILITIES – Net Amounts	$ 0

Financial Risk Management - G54

Financial Risk Management - Gross and Net Fair Values of Derivative Instruments (Detail) $ in Millions	Sep. 30, 2015USD ($)
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	$ 130
ASSETS – Master netting arrangements	(25)
ASSETS – Net Amounts Presented in the Consolidated Balance Sheet	105
LIABILITIES – Gross fair value of derivative contracts	(28)
LIABILITIES – Master netting arrangements	25
LIABILITIES – Net Amounts Presented in the Consolidated Balance Sheet	(3)
Commodity
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	97
ASSETS – Master netting arrangements	(21)
ASSETS – Net Amounts Presented in the Consolidated Balance Sheet	76
LIABILITIES – Gross fair value of derivative contracts	(24)
LIABILITIES – Master netting arrangements	21
LIABILITIES – Net Amounts Presented in the Consolidated Balance Sheet	(3)
Interest Rate and Other
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	33
ASSETS – Master netting arrangements	(4)
ASSETS – Net Amounts Presented in the Consolidated Balance Sheet	29
Accounts Receivable
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	130
ASSETS – Master netting arrangements	(25)
ASSETS – Net Amounts Presented in the Consolidated Balance Sheet	105
Accounts Receivable | Derivative Contracts Designated as Hedging Instruments
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	90
Accounts Receivable | Derivative Contracts Designated as Hedging Instruments | Commodity
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	76
Accounts Receivable | Derivative Contracts Designated as Hedging Instruments | Interest Rate and Other
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	14
Accounts Receivable | Derivative Contracts Not Designated as Hedging Instruments
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	40
Accounts Receivable | Derivative Contracts Not Designated as Hedging Instruments | Commodity
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	21
Accounts Receivable | Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange
Derivatives Fair Value [Line Items]
ASSETS – Gross fair value of derivative contracts	19
Accounts Payable
Derivatives Fair Value [Line Items]
LIABILITIES – Gross fair value of derivative contracts	(28)
LIABILITIES – Master netting arrangements	25
LIABILITIES – Net Amounts Presented in the Consolidated Balance Sheet	(3)
Accounts Payable | Derivative Contracts Not Designated as Hedging Instruments
Derivatives Fair Value [Line Items]
LIABILITIES – Gross fair value of derivative contracts	(28)
Accounts Payable | Derivative Contracts Not Designated as Hedging Instruments | Commodity
Derivatives Fair Value [Line Items]
LIABILITIES – Gross fair value of derivative contracts	(24)
Accounts Payable | Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange
Derivatives Fair Value [Line Items]
LIABILITIES – Gross fair value of derivative contracts	$ (4)

Financial Risk Management - Fai

Financial Risk Management - Fair Value Measurements - Additional Information (Detail) $ in Millions	Sep. 30, 2015USD ($)
Derivative [Line Items]
Derivative assets	$ 105
Derivative liabilities	3
Total Long-term debt, Carrying Value	6,552
The fair value of the guarantee, related to HETCO, recorded by the Corporation	11
Commodity
Derivative [Line Items]
Derivative assets	76
Derivative liabilities	3
Interest Rate and Other
Derivative [Line Items]
Derivative assets	29
Fair Value, Inputs, Level 1
Derivative [Line Items]
Derivative liabilities	3
Fair Value, Inputs, Level 2
Derivative [Line Items]
Derivative assets	105
Total Long-term debt, Fair Value	6,935
Fair Value, Inputs, Level 2 | Commodity
Derivative [Line Items]
Derivative assets	76
Fair Value, Inputs, Level 2 | Interest Rate and Other
Derivative [Line Items]
Derivative assets	$ 29