Hess (HES) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2022 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-1204
Entity Registrant Name	HESS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4921002
Entity Address, Address Line One	1185 AVENUE OF THE AMERICAS
Entity Address, City or Town	NEW YORK
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	212
Local Phone Number	997-8500
Title of 12(b) Security	Common Stock
Trading Symbol	HES
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)	309,614,906
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000004447
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 2,159	$ 2,713
Accounts receivable:
From contracts with customers	1,265	1,062
Joint venture and other	141	149
Inventories	317	223
Other current assets	87	199
Total current assets	3,969	4,346
Property, plant and equipment:
Total — at cost	32,402	31,178
Less: Reserves for depreciation, depletion, amortization and lease impairment	17,584	16,996
Property, plant and equipment — net	14,818	14,182
Operating lease right-of-use assets — net	446	352
Finance lease right-of-use assets — net	136	144
Goodwill	360	360
Deferred income taxes	147	71
Post-retirement benefit assets	603	409
Other assets	701	651
Total Assets	21,180	20,515
Current Liabilities:
Accounts payable	359	220
Accrued liabilities	1,741	1,710
Taxes payable	141	528
Current portion of long-term debt	0	517
Current portion of operating and finance lease obligations	114	89
Total current liabilities	2,355	3,064
Long-term debt	8,332	7,941
Long-term operating lease obligations	457	394
Long-term finance lease obligations	190	200
Deferred income taxes	544	383
Asset retirement obligations	1,028	1,005
Other liabilities and deferred credits	516	502
Total Liabilities	13,422	13,489
Hess Corporation stockholders’ equity:
Common stock, par value $1.00; Authorized - 600,000,000 shares, Issued - 309,614,906 shares (2021: 309,744,953)	310	310
Capital in excess of par value	6,236	6,017
Retained earnings	1,075	379
Accumulated other comprehensive income (loss)	(485)	(406)
Total Hess Corporation stockholders’ equity	7,136	6,300
Noncontrolling interests	622	726
Total Equity	7,758	7,026
Total Liabilities and Equity	$ 21,180	$ 20,515

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	309,614,906	309,744,953

STATEMENT OF CONSOLIDATED INCOM

STATEMENT OF CONSOLIDATED INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues and Non-Operating Income
Sales and other operating revenues	$ 2,955	$ 1,579	$ 5,268	$ 3,477
Gains on asset sales, net	3	0	25	0
Other, net	30	19	66	40
Total revenues and non-operating income	2,988	1,598	5,359	3,517
Costs and Expenses
Marketing, including purchased oil and gas	843	322	1,525	840
Operating costs and expenses	356	315	669	580
Production and severance taxes	67	44	128	81
Exploration expenses, including dry holes and lease impairment	33	48	76	81
General and administrative expenses	95	84	205	178
Interest expense	121	118	244	235
Depreciation, depletion and amortization	391	385	728	781
Impairment and other	0	147	0	147
Total costs and expenses	1,906	1,463	3,575	2,923
Income (Loss) Before Income Taxes	1,082	135	1,784	594
Provision (benefit) for income taxes	328	122	525	245
Net Income (Loss)	754	13	1,259	349
Less: Net income (loss) attributable to noncontrolling interests	87	86	175	170
Net Income (Loss) Attributable to Hess Corporation	$ 667	$ (73)	$ 1,084	$ 179
Net Income (Loss) Attributable to Hess Corporation Per Common Share:
Basic (in dollars per share)	$ 2.15	$ (0.24)	$ 3.50	$ 0.58
Diluted (in dollars per share)	$ 2.15	$ (0.24)	$ 3.49	$ 0.58
Weighted Average Number of Common Shares Outstanding:
Basic (in shares)	309.7	307.5	309.3	306.7
Diluted (in shares)	310.9	307.5	310.6	308.7
Common Stock Dividends Per Share (in dollars per share)	$ 0.375	$ 0.250	$ 0.750	$ 0.500

STATEMENT OF CONSOLIDATED COMPR

STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 754	$ 13	$ 1,259	$ 349
Derivatives designated as cash flow hedges
Effect of hedge (gains) losses reclassified to income	163	64	255	115
Income taxes on effect of hedge (gains) losses reclassified to income	0	0	0	0
Net effect of hedge (gains) losses reclassified to income	163	64	255	115
Change in fair value of cash flow hedges	(39)	(129)	(494)	(231)
Income taxes on change in fair value of cash flow hedges	0	0	0	0
Net change in fair value of cash flow hedges	(39)	(129)	(494)	(231)
Change in derivatives designated as cash flow hedges, after taxes	124	(65)	(239)	(116)
Pension and other postretirement plans
(Increase) reduction in unrecognized actuarial losses	152	(11)	152	3
Income taxes on actuarial changes in plan liabilities	0	0	0	0
(Increase) reduction in unrecognized actuarial losses, net	152	(11)	152	3
Amortization of net actuarial losses	5	16	8	32
Income taxes on amortization of net actuarial losses	0	0	0	0
Net effect of amortization of net actuarial losses	5	16	8	32
Change in pension and other postretirement plans, after taxes	157	5	160	35
Other Comprehensive Income (Loss)	281	(60)	(79)	(81)
Comprehensive Income (Loss)	1,035	(47)	1,180	268
Less: Comprehensive income (loss) attributable to noncontrolling interests	87	86	175	170
Comprehensive Income (Loss) Attributable to Hess Corporation	$ 948	$ (133)	$ 1,005	$ 98

STATEMENT OF CONSOLIDATED CASH

STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows From Operating Activities
Net income (loss)	$ 1,259	$ 349
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
(Gains) on asset sales, net	(25)	0
Depreciation, depletion and amortization	728	781
Impairment and other	0	147
Exploratory dry hole costs	0	9
Exploration lease and other impairment	10	10
Pension settlement loss	2	4
Stock compensation expense	49	44
Noncash (gains) losses on commodity derivatives, net	218	88
Provision (benefit) for deferred income taxes and other tax accruals	174	42
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	(529)	(315)
(Increase) decrease in inventories	(94)	137
Increase (decrease) in accounts payable and accrued liabilities	100	(56)
Increase (decrease) in taxes payable	(387)	187
Changes in other operating assets and liabilities	(152)	(51)
Net cash provided by (used in) operating activities	1,353	1,376
Cash Flows From Investing Activities
Additions to property, plant and equipment - E&P	(1,098)	(687)
Additions to property, plant and equipment - Midstream	(111)	(53)
Proceeds from asset sales, net of cash sold	28	297
Other, net	0	2
Net cash provided by (used in) investing activities	(1,181)	(445)
Cash Flows From Financing Activities
Net borrowings (repayments) of debt with maturities of 90 days or less	(13)	(75)
Debt with maturities of greater than 90 days – Borrowings	400	0
Debt with maturities of greater than 90 days - Repayments	(510)	(5)
Proceeds from sale of Class A shares of Hess Midstream LP	146	70
Common stock acquired and retired	(190)	0
Payments on finance lease obligations	(4)	(4)
Cash dividends paid	(235)	(157)
Employee stock options exercised	40	75
Noncontrolling interests, net	(351)	(137)
Other, net	(9)	(7)
Net cash provided by (used in) financing activities	(726)	(240)
Net Increase (Decrease) in Cash and Cash Equivalents	(554)	691
Cash and Cash Equivalents at Beginning of Year	2,713	1,739
Cash and Cash Equivalents at End of Period	$ 2,159	$ 2,430

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
Balance at Dec. 31, 2020	$ 6,335	$ 307	$ 5,684	$ 130	$ (755)	$ 5,366	$ 969
Net Income (Loss)	349			179		179	170
Other comprehensive income (loss)	(81)				(81)	(81)	0
Share-based compensation	122	3	119			122
Dividends on common stock	(154)			(154)		(154)
Sale of Class A shares of Hess Midstream LP	97		56			56	41
Common stock acquired and retired	0
Noncontrolling interests, net	(136)						(136)
Balance at Jun. 30, 2021	6,532	310	5,859	155	(836)	5,488	1,044
Balance at Mar. 31, 2021	6,643	308	5,779	305	(776)	5,616	1,027
Net Income (Loss)	13			(73)		(73)	86
Other comprehensive income (loss)	(60)				(60)	(60)	0
Share-based compensation	82	2	80			82
Dividends on common stock	(77)			(77)		(77)
Noncontrolling interests, net	(69)						(69)
Balance at Jun. 30, 2021	6,532	310	5,859	155	(836)	5,488	1,044
Balance at Dec. 31, 2021	7,026	310	6,017	379	(406)	6,300	726
Net Income (Loss)	1,259			1,084		1,084	175
Other comprehensive income (loss)	(79)				(79)	(79)	0
Share-based compensation	92	2	90			92
Dividends on common stock	(233)			(233)		(233)
Sale of Class A shares of Hess Midstream LP	218		130			130	88
Repurchase of Class B units of Hess Midstream Operations LP	(183)		32			32	(215)
Common stock acquired and retired	(190)	2	33	155		190
Noncontrolling interests, net	(152)						(152)
Balance at Jun. 30, 2022	7,758	310	6,236	1,075	(485)	7,136	622
Balance at Mar. 31, 2022	7,048	311	6,083	680	(766)	6,308	740
Net Income (Loss)	754			667		667	87
Other comprehensive income (loss)	281				281	281	0
Share-based compensation	25	1	24			25
Dividends on common stock	(117)			(117)		(117)
Sale of Class A shares of Hess Midstream LP	218		130			130	88
Repurchase of Class B units of Hess Midstream Operations LP	(183)		32			32	(215)
Common stock acquired and retired	(190)	2	33	155		190
Noncontrolling interests, net	(78)						(78)
Balance at Jun. 30, 2022	$ 7,758	$ 310	$ 6,236	$ 1,075	$ (485)	$ 7,136	$ 622

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation 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 our consolidated financial position at June 30, 2022 and December 31, 2021, the consolidated results of operations for the three and six months ended June 30, 2022 and 2021, and consolidated cash flows for the six months ended June 30, 2022 and 2021. 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, 2021.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	2. Inventories Inventories consisted of the following: June 30, December 31, (In millions) Crude oil and natural gas liquids $ 142 $ 52 Materials and supplies 175 171 Total Inventories $ 317 $ 223

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	3. Property, Plant and Equipment Capitalized Exploratory Well Costs: The following table discloses the net changes in capitalized exploratory well costs pending determination of proved reserves during the six months ended June 30, 2022 (in millions): Balance at January 1, 2022 $ 681 Additions to capitalized exploratory well costs pending the determination of proved reserves 194 Reclassifications to wells, facilities and equipment based on the determination of proved reserves (93) Balance at June 30, 2022 $ 782 Additions to capitalized exploratory well costs pending determination of proved reserves are related to wells drilled on the Stabroek Block (Hess 30%), offshore Guyana and drilling at the Huron prospect (Hess 40%) in the Gulf of Mexico. Reclassifications to wells, facilities and equipment based on the determination of proved reserves resulted from the sanction of the Yellowtail Field development project, the fourth sanctioned project on the Stabroek Block. At June 30, 2022, exploratory well costs capitalized for greater than one year following completion of drilling of $417 million was comprised of the following: Guyana: Approximately 89% of the capitalized well costs in excess of one year relate to successful exploration wells where hydrocarbons were encountered on the Stabroek Block. The operator plans further appraisal drilling on the Block and is conducting pre-development planning for additional phases of development. Joint Development Area (JDA): Approximately 9% of the capitalized well costs in excess of one year relates to the JDA (Hess 50%) in the Gulf of Thailand, where hydrocarbons were encountered in three successful exploration wells drilled in the western part of Block A-18. The operator has submitted a development plan concept to the regulator to facilitate ongoing commercial negotiations for an extension of the existing gas sales contract to include development of the western part of the Block. Malaysia: Approximately 2% of the capitalized well costs in excess of one year relate to the North Malay Basin (Hess 50%), offshore Peninsular Malaysia, where hydrocarbons were encountered in one successful exploration well. Subsurface evaluation and pre-development studies are ongoing.

Hess Midstream LP

Hess Midstream LP	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Hess Midstream LP	4. Hess Midstream LP At June 30, 2022, Hess Midstream LP (Hess Midstream), a variable interest entity that is fully consolidated by Hess Corporation, had liabilities totaling $3,078 million (December 31, 2021: $2,694 million) that are on a nonrecourse basis to Hess Corporation, while Hess Midstream assets available to settle the obligations of Hess Midstream included cash and cash equivalents totaling $2 million (December 31, 2021: $2 million), property, plant and equipment with a carrying value of $3,145 million (December 31, 2021: $3,125 million) and an equity-method investment in the Little Missouri 4 (LM4) gas processing plant of $97 million (December 31, 2021: $102 million). LM4 is a 200 million standard cubic feet per day gas processing plant located south of the Missouri River in McKenzie County, North Dakota, that was constructed as part of a 50/50 joint venture between Hess Midstream and Targa Resources Corp. Hess Midstream has a natural gas processing agreement with LM4 under which it pays a processing fee and reimburses LM4 for its proportionate share of electricity costs. The processing fees included in Operating costs and expenses in the Statement of Consolidated Income for the three and six months ended June 30, 2022 were $4 million and $9 million, respectively, compared with $7 million and $14 million for the three and six months ended June 30, 2021, respectively. In April 2022, Hess Midstream LP completed an underwritten public equity offering of approximately 10.2 million Hess Midstream LP Class A shares held by a subsidiary of Hess Corporation and an affiliate of Global Infrastructure Partners (GIP). We received net proceeds of $146 million from the public offering. The transaction resulted in an increase in Capital in excess of par and Noncontrolling interests of $130 million and $88 million, respectively. The increase to Noncontrolling interests of $88 million is comprised of $16 million resulting from the change in ownership interest and $72 million from an increase to deferred tax assets resulting from a change in the temporary difference between the carrying amount and tax basis of Hess Midstream LP's investment in Hess Midstream Operations LP (HESM Opco). Concurrent with the April 2022 public offering, HESM Opco, a consolidated subsidiary of Hess Midstream LP, repurchased approximately 13.6 million HESM Opco Class B units held by a subsidiary of Hess Corporation and an affiliate of GIP for $400 million. HESM Opco issued $400 million in aggregate principal amount of 5.500% fixed-rate senior unsecured notes due 2030 in a private offering to repay borrowings under its revolving credit facility used to finance the repurchase. The transaction resulted in an increase in Capital in excess of par and a decrease in Noncontrolling interests of $32 million, and an increase in deferred tax assets and Noncontrolling interests of $17 million resulting from a change in the temporary difference between the carrying amount and tax basis of Hess Midstream LP's investment in HESM Opco. The $200 million paid to GIP reduced Noncontrolling Interests . We owned an approximate 41% interest in Hess Midstream LP, on a consolidated basis, at June 30, 2022. In March 2021, Hess Midstream LP completed an underwritten public equity offering of 6.9 million Hess Midstream LP Class A shares held by a subsidiary of Hess Corporation and an affiliate of GIP. We received net proceeds of $70 million from the public offering. The transaction resulted in an increase in Capital in excess of par and Noncontrolling interests of $56 million and $41 million, respectively. The increase to Noncontrolling interests of $41 million is comprised of $14 million resulting from the change in ownership interest and $27 million from an increase to deferred tax assets resulting from a change in the temporary difference between the carrying amount and tax basis of Hess Midstream LP's investment in HESM Opco.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Liabilities	5. Accrued Liabilities Accrued Liabilities consisted of the following: June 30, December 31, (In millions) Accrued operating and marketing expenditures $ 508 $ 462 Accrued capital expenditures 515 479 Accrued payments to royalty and working interest owners 263 253 Current portion of asset retirement obligations 232 185 Accrued interest on debt 143 138 Accrued compensation and benefits 62 124 Other accruals 18 69 Total Accrued Liabilities $ 1,741 $ 1,710

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	6. Debt In April 2022, HESM Opco issued $400 million in aggregate principal amount of 5.500% fixed-rate senior unsecured notes due 2030 in a private offering to repay borrowings under its revolving credit facility used to finance the repurchase of approximately

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	7. Revenue Revenue from contracts with customers on a disaggregated basis was as follows (in millions): Exploration and Production Midstream Eliminations Total United States Guyana Malaysia and JDA Other (a) E&P Total Three Months Ended June 30, 2022 Sales of our net production volumes: Crude oil revenue $ 895 $ 681 $ 37 $ 170 $ 1,783 $ — $ — $ 1,783 Natural gas liquids revenue 173 — — — 173 — — 173 Natural gas revenue 126 — 215 5 346 — — 346 Sales of purchased oil and gas 761 18 — 36 815 — — 815 Intercompany revenue — — — — — 314 (314) — Total revenues from contracts with customers 1,955 699 252 211 3,117 314 (314) 3,117 Other operating revenues (b) (95) (52) — (15) (162) — — (162) Total sales and other operating revenues $ 1,860 $ 647 $ 252 $ 196 $ 2,955 $ 314 $ (314) $ 2,955 Three Months Ended June 30, 2021 Sales of our net production volumes: Crude oil revenue $ 661 $ 134 $ 27 $ 135 $ 957 $ — $ — $ 957 Natural gas liquids revenue 120 — — — 120 — — 120 Natural gas revenue 61 — 178 1 240 — — 240 Sales of purchased oil and gas 299 4 — 26 329 — — 329 Intercompany revenue — — — — — 294 (294) — Total revenues from contracts with customers 1,141 138 205 162 1,646 294 (294) 1,646 Other operating revenues (b) (53) (6) — (8) (67) — — (67) Total sales and other operating revenues $ 1,088 $ 132 $ 205 $ 154 $ 1,579 $ 294 $ (294) $ 1,579 Six Months Ended June 30, 2022 Sales of our net production volumes: Crude oil revenue $ 1,731 $ 907 $ 68 $ 316 $ 3,022 $ — $ — $ 3,022 Natural gas liquids revenue 354 — — — 354 — — 354 Natural gas revenue 211 — 405 10 626 — — 626 Sales of purchased oil and gas 1,421 22 — 71 1,514 — — 1,514 Intercompany revenue — — — — — 626 (626) — Total revenues from contracts with customers 3,717 929 473 397 5,516 626 (626) 5,516 Other operating revenues (b) (153) (67) — (28) (248) — — (248) Total sales and other operating revenues $ 3,564 $ 862 $ 473 $ 369 $ 5,268 $ 626 $ (626) $ 5,268 Six Months Ended June 30, 2021 Sales of our net production volumes: Crude oil revenue $ 1,546 $ 315 $ 49 $ 251 $ 2,161 $ — $ — $ 2,161 Natural gas liquids revenue 263 — — — 263 — — 263 Natural gas revenue 174 — 341 4 519 — — 519 Sales of purchased oil and gas 597 8 — 45 650 — — 650 Intercompany revenue — — — — — 583 (583) — Total revenues from contracts with customers 2,580 323 390 300 3,593 583 (583) 3,593 Other operating revenues (b) (94) (10) — (12) (116) — — (116) Total sales and other operating revenues $ 2,486 $ 313 $ 390 $ 288 $ 3,477 $ 583 $ (583) $ 3,477 (a) Other includes Libya and our interests in Denmark, which were sold in the third quarter of 2021. (b) Includes gains (losses) on commodity derivatives. There have been no significant changes to contracts with customers or the composition thereof during the six months ended

Impairment and Other

Impairment and Other	6 Months Ended
	Jun. 30, 2022
Asset Impairment Charges [Abstract]
Impairment and Other	8. Impairment and Other In June 2021, the U.S. Bankruptcy Court approved the bankruptcy plan for Fieldwood Energy LLC (Fieldwood) which includes transferring abandonment obligations of Fieldwood to predecessors in title of certain of its assets, who are jointly and severally liable for the obligations. Second quarter 2021 results include a charge of $147 million ($147 million after income taxes) in connection with abandonment obligations in the West Delta 79/86 Field (West Delta Field), which we sold to a Fieldwood predecessor in 2004.

Retirement Plans

Retirement Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Retirement Plans	9. Retirement Plans Components of net periodic benefit cost consisted of the following: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In millions) Service cost $ 12 $ 13 $ 25 $ 27 Interest cost (a) 17 14 33 28 Expected return on plan assets (a) (52) (49) (105) (99) Amortization of unrecognized net actuarial losses (a) 3 13 6 28 Settlement loss (a) 2 3 2 4 Net periodic benefit cost (income) (a) $ (18) $ (6) $ (39) $ (12) ( a) Net non-service cost included in Other, net in the Statement of Consolidated Income for the three and six months ended June 30, 2022 was income of $30 million and $64 million, respectively, compared with income of $19 million and $39 million for the three and six months ended June 30, 2021. In the second quarter of 2022, the Hess Corporation Employees’ Pension Plan purchased a single premium annuity contract at a cost of approximately $170 million using assets of the plan to settle and transfer certain of its obligations to a third party. This partial settlement resulted in a noncash charge of $13 million to recognize unamortized actuarial losses. In connection with this settlement transaction, as required under U.S. accounting standards, we remeasured the funded status of the plan, which increased by $154 million primarily due to a change in the weighted average discount rate used to value the projected benefit obligation, and an update to the fair value of plan assets. The change in the funded status is reflected in Post-retirement benefit assets in the Consolidated Balance Sheet . In the second quarter of 2022, the HOVENSA Legacy Employees' Pension Plan paid lump sums of approximately $20 million to certain participants, and purchased a single premium annuity contract at a cost of approximately $80 million, to settle the plan's projected benefit obligation. The settlement transactions resulted in a noncash gain of $11 million to recognize unamortized actuarial gains. In connection with these settlement transactions, as required under U.S. accounting standards, we remeasured the funded status of the plan, which increased by $6 million. The change in the funded status is reflected in Post-retirement benefit assets in the Consolidated Balance Sheet . For the full year 2022, we forecast service cost for our pension and postretirement medical plans to be approximately $45 million and net non-service cost to be approximately $118 million of income, which is comprised of expected return on plan assets of approximately $200 million, interest cost of approximately $70 million, amortization of unrecognized net actuarial losses of approximately $10 million, and net settlement losses of $2 million. In 2022, we expect to contribute approximately $45 million to our funded pension plans.

Weighted Average Common Shares

Weighted Average Common Shares	6 Months Ended
	Jun. 30, 2022
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 2022 2021 2022 2021 (In millions) Net income (loss) attributable to Hess Corporation: Net income (loss) $ 754 $ 13 $ 1,259 $ 349 Less: Net income (loss) attributable to noncontrolling interests 87 86 175 170 Net income (loss) attributable to Hess Corporation $ 667 $ (73) $ 1,084 $ 179 Weighted average number of common shares outstanding: Basic 309.7 307.5 309.3 306.7 Effect of dilutive securities Restricted common stock 0.6 — 0.6 0.7 Stock options 0.6 — 0.6 0.5 Performance share units — — 0.1 0.8 Diluted 310.9 307.5 310.6 308.7 The following table summarizes the number of antidilutive shares excluded from the computation of diluted shares: Three Months Ended Six Months Ended 2022 2021 2022 2021 Restricted common stock — 1,641,860 48 94,726 Stock options 269,748 2,562,983 172,581 832,454 Performance share units 29,668 1,161,324 30,510 39,608 During the six months ended June 30, 2022, we granted 565,318 shares of restricted stock (2021: 705,489), 178,008 performance share units (2021: 205,155) and 269,748 stock options (2021: 319,295).

Guarantees and Contingencies

Guarantees and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Guarantees and Contingencies	11. Guarantees and Contingencies We are subject to loss contingencies with respect to various claims, lawsuits and other proceedings. A liability is recognized in our 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, we disclose the nature of those contingencies. We 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. We, along with many companies that have been or continue to be engaged in refining and marketing of gasoline, have been a party to lawsuits and claims related to the use of methyl tertiary butyl ether (MTBE) in gasoline. A series of similar lawsuits, many involving water utilities or governmental entities, were filed in jurisdictions across the United States against producers of MTBE and petroleum refiners who produced gasoline containing MTBE, including us. The principal allegation in all cases was that gasoline containing MTBE was a defective product and that these producers and refiners are strictly liable in proportion to their share of the gasoline market for damage to groundwater resources and are required to take remedial action to ameliorate the alleged effects on the environment of releases of MTBE. The majority of the cases asserted against us have been settled. There are two remaining active cases, filed by Pennsylvania and Maryland. In June 2014, the Commonwealth of Pennsylvania filed a lawsuit alleging that we and all major oil companies with operations in Pennsylvania, have damaged the groundwater by introducing thereto gasoline with MTBE. The Pennsylvania suit has been forwarded to the existing MTBE multidistrict litigation pending in the Southern District of New York. In December 2017, the State of Maryland filed a lawsuit alleging that we and other major oil companies damaged the groundwater in Maryland by introducing thereto gasoline with MTBE. The suit, filed in Maryland state court, was served on us in January 2018 and has been removed to federal court by the defendants. In September 2003, we received a directive from the New Jersey Department of Environmental Protection (NJDEP) to remediate contamination in the sediments of the Lower Passaic River. The NJDEP is also seeking natural resource damages. The directive, insofar as it affects us, relates to alleged releases from a petroleum bulk storage terminal in Newark, New Jersey we previously owned. We and over 70 companies entered into an Administrative Order on Consent with the Environmental Protection Agency (EPA) to study the same contamination; this work remains ongoing. We and other parties settled a cost recovery claim by the State of New Jersey and agreed with the EPA to fund remediation of a portion of the site. Since 2016, the EPA has issued a Record of Decision (ROD) selecting a dredge and cap remedy for both the lower eight miles and the upper nine miles of the Lower Passaic River at an estimated cost of approximately $1.82 billion. The ROD does not address the Newark Bay, which may require additional remedial action. In addition, the federal trustees for natural resources have begun a separate assessment of damages to natural resources in the Passaic River. Given that the EPA has not selected a final remedy for the Newark Bay, total remedial costs cannot be reliably estimated at this time. Based on currently known facts and circumstances, we do not believe that this matter will result in a significant liability to us because our former terminal did not store or use contaminants which are of concern in the river sediments and could not have contributed contamination along the river’s length. Further, there are numerous other parties who we expect will bear the cost of remediation and damages. In March 2014, we received an Administrative Order from the EPA requiring us and 26 other parties to undertake the Remedial Design for the remedy selected by the EPA for the Gowanus Canal Superfund Site in Brooklyn, New York. Our alleged liability derives from our former ownership and operation of a fuel oil terminal and connected shipbuilding and repair facility adjacent to the Canal. The remedy selected by the EPA includes dredging of surface sediments and the placement of a cap over the deeper sediments throughout the Canal and in-situ stabilization of certain contaminated sediments that will remain in place below the cap. The EPA’s original estimate was that this remedy would cost $506 million; however, the ultimate costs that will be incurred in connection with the design and implementation of the remedy remain uncertain. We have complied with the EPA’s March 2014 Administrative Order and contributed funding for the Remedial Design based on an allocation of costs among the parties determined by a third-party expert. In January 2020, we received an additional Administrative Order from the EPA requiring us and several other parties to begin Remedial Action along the uppermost portion of the Canal. We intend to comply with this Administrative Order. The remediation work began in the fourth quarter of 2020. Based on currently known facts and circumstances, we do not believe that this matter will result in a significant liability to us, and the costs will continue to be allocated amongst the parties, as they were for the Remedial Design. From time to time, we are involved in other judicial and administrative proceedings relating to environmental matters. We periodically receive notices from the EPA that we are a “potential responsible party” under the Superfund legislation with respect to various waste disposal sites. Under this legislation, all potentially responsible parties may be jointly and severally liable. For any site for which we have received such a notice, the EPA’s claims or assertions of liability against us relating to these sites have not been fully developed, or the EPA’s claims have been settled or a settlement is under consideration, in all cases for amounts that are not material. Beginning in 2017, certain states, municipalities and private associations in California, Delaware, Maryland, Rhode Island and South Carolina separately filed lawsuits against oil, gas and coal producers, including us, for alleged damages purportedly caused by climate change. These proceedings include claims for monetary damages and injunctive relief. Beginning in 2013, various parishes in Louisiana filed suit against approximately 100 oil and gas companies, including us, alleging that the companies’ operations and activities in certain fields violated the State and Local Coastal Resource Management Act of 1978, as amended, and caused contamination, subsidence and other environmental damages to land and water bodies located in the coastal zone of Louisiana. The plaintiffs seek, among other things, the payment of the costs necessary to clear, re-vegetate and otherwise restore the allegedly impacted areas. The ultimate impact of such climate and other aforementioned environmental proceedings, and of any related proceedings by private parties, on our business or accounts cannot be predicted at this time due to the large number of other potentially responsible parties and the speculative nature of clean-up cost estimates. Hess Corporation and its subsidiary HONX, Inc. have also been named as defendants in various personal injury claims alleging exposure to asbestos and/or other alleged toxic substances while working at a former refinery (owned and operated by subsidiaries or related entities) located in St. Croix, U.S. Virgin Islands. HONX, Inc. has initiated a Chapter 11 § 524G process to resolve these asbestos-related claims. While the ultimate outcome and impact to us cannot be predicted with certainty, we believe that the resolution of these proceedings will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. We are also involved in other judicial and administrative proceedings from time to time in addition to the matters described above, including claims related to post-production deductions from royalty and working interest payments. We may also be exposed to future decommissioning liabilities for divested assets in the event the current or future owners of facilities previously owned by us are determined to be unable to perform such actions, whether due to bankruptcy or otherwise. We 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 lawsuits, claims and proceedings, including the matters disclosed above, is not expected to have a material adverse effect on our financial condition, results of operations or cash flows. However, we could incur judgments, enter into settlements, or revise our opinion regarding the outcome of certain matters, and such developments could have a material adverse effect on our results of operations in the period in which the amounts are accrued and our cash flows in the period in which the amounts are paid.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	12. Segment Information We currently have two operating segments, Exploration and Production and Midstream. All unallocated costs are reflected under Corporate, Interest and Other. The following table presents operating segment financial data: Exploration and Production Midstream Corporate, Interest and Other Eliminations Total (In millions) For the Three Months Ended June 30, 2022 Sales and Other Operating Revenues - Third parties $ 2,955 $ — $ — $ — $ 2,955 Intersegment Revenues — 314 — (314) — Sales and Other Operating Revenues $ 2,955 $ 314 $ — $ (314) $ 2,955 Net Income (Loss) attributable to Hess Corporation $ 723 $ 65 $ (121) $ — $ 667 Depreciation, Depletion and Amortization 345 44 2 — 391 Provision (Benefit) for Income Taxes 321 7 — — 328 Capital Expenditures 593 72 — — 665 For the Three Months Ended June 30, 2021 Sales and Other Operating Revenues - Third parties $ 1,579 $ — $ — $ — $ 1,579 Intersegment Revenues — 294 — (294) — Sales and Other Operating Revenues $ 1,579 $ 294 $ — $ (294) $ 1,579 Net Income (Loss) attributable to Hess Corporation $ (25) $ 76 $ (124) $ — $ (73) Depreciation, Depletion and Amortization 344 41 — — 385 Impairment and other 147 — — — 147 Provision (Benefit) for Income Taxes 119 3 — — 122 Capital Expenditures 396 47 — — 443 For the Six Months Ended June 30, 2022 Sales and Other Operating Revenues - Third parties $ 5,268 $ — $ — $ — $ 5,268 Intersegment Revenues — 626 — (626) — Sales and Other Operating Revenues $ 5,268 $ 626 $ — $ (626) $ 5,268 Net Income (Loss) attributable to Hess Corporation $ 1,183 $ 137 $ (236) $ — $ 1,084 Depreciation, Depletion and Amortization 637 89 2 — 728 Provision (Benefit) for Income Taxes 513 12 — — 525 Capital Expenditures 1,136 109 — — 1,245 For the Six Months Ended June 30, 2021 Sales and Other Operating Revenues - Third parties $ 3,477 $ — $ — $ — $ 3,477 Intersegment Revenues — 583 — (583) — Sales and Other Operating Revenues $ 3,477 $ 583 $ — $ (583) $ 3,477 Net Income (Loss) attributable to Hess Corporation $ 283 $ 151 $ (255) $ — $ 179 Depreciation, Depletion and Amortization 699 81 1 — 781 Impairment and other 147 — — — 147 Provision (Benefit) for Income Taxes 239 6 — — 245 Capital Expenditures 676 70 — — 746 Identifiable assets by operating segment were as follows: June 30, December 31, (In millions) Exploration and Production $ 14,886 $ 14,173 Midstream 3,755 3,671 Corporate, Interest and Other 2,539 2,671 Total $ 21,180 $ 20,515

Financial Risk Management Activ

Financial Risk Management Activities	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Risk Management Activities	13. Financial Risk Management Activities In the normal course of our business, we are exposed to commodity risks related to changes in the prices of crude oil and natural gas, as well as changes in interest rates and foreign currency values. Financial risk management activities include transactions designed to reduce risk in the selling prices of crude oil or natural gas we produce or by reducing our exposure to foreign currency or interest rate movements. Generally, futures, swaps or option strategies may be used to fix the forward selling price, or establish a floor price or a range banded with a floor and ceiling price, for a portion of our crude oil or natural gas production. Forward contracts or swaps may also be used to purchase certain currencies in which we conduct business with the intent of reducing exposure to foreign currency fluctuations. At June 30, 2022, these instruments relate to the British Pound and Malaysian Ringgit. Interest rate swaps may be used to convert interest payments on certain long-term debt from fixed to floating rates. The notional amounts of outstanding financial risk management derivative contracts were as follows: June 30, December 31, (In millions) Commodity - crude oil hedge contracts (millions of barrels) 27.6 54.8 Foreign exchange forwards $ 157 $ 145 Interest rate swaps $ 100 $ 100 At December 31, 2021, we had hedged 90,000 barrels of oil per day (bopd) with WTI collars with an average monthly floor price of $60 per barrel and an average monthly ceiling price of $100 per barrel and 60,000 bopd with Brent collars with an average monthly floor price of $65 per barrel and an average monthly ceiling price of $105 per barrel for calendar 2022. In the first quarter of 2022, we purchased WTI and Brent call options to remove the ceiling price on our price collars for the period April 1, 2022 through December 31, 2022 for $325 million. As a result, during this period, we are able to realize WTI and Brent selling prices above $100 per barrel and $105 per barrel, respectively, to the extent that market prices exceed these thresholds. The WTI $60 per barrel put options for 90,000 bopd and the Brent $65 per barrel put options for 60,000 bopd in our price collars remain outstanding through December 31, 2022. The table below reflects the fair values of risk management derivative instruments. Assets Liabilities (In millions) June 30, 2022 Derivative Contracts Designated as Hedging Instruments: Crude oil put options $ 26 $ — Interest rate swaps — (3) Total derivative contracts designated as hedging instruments 26 (3) Derivative Contracts Not Designated as Hedging Instruments: Foreign exchange forwards and swaps 5 — Total derivative contracts not designated as hedging instruments 5 — Gross fair value of derivative contracts 31 (3) Gross amounts offset in the Consolidated Balance Sheet — — Net Amounts Presented in the Consolidated Balance Sheet $ 31 $ (3) December 31, 2021 Derivative Contracts Designated as Hedging Instruments: Crude oil collars $ 155 $ — Interest rate swaps 2 — Total derivative contracts designated as hedging instruments 157 — Derivative Contracts Not Designated as Hedging Instruments: Foreign exchange forwards and swaps — (1) Total derivative contracts not designated as hedging instruments — (1) Gross fair value of derivative contracts 157 (1) Gross amounts offset in the Consolidated Balance Sheet — — Net Amounts Presented in the Consolidated Balance Sheet $ 157 $ (1) At June 30, 2022 and December 31, 2021, the fair value of our crude oil hedge contracts is presented within Other current assets in our Consolidated Balance Sheet . The fair value of our foreign exchange forwards and swaps is presented within Other current assets at June 30, 2022 and within Accrued liabilities at December 31, 2021 in our Consolidated Balance Sheet . The fair value of our interest rate swaps is presented within Other liabilities and deferred credits at June 30, 2022 and within Other assets at December 31, 2021 in our Consolidated Balance Sheet . All fair values in the table above are based on Level 2 inputs. Derivative contracts designated as hedging instruments: Crude oil derivatives designated as cash flow hedges: Crude oil hedging contracts decreased Sales and other operating revenues by $163 million and $255 million in the three and six months ended June 30, 2022, respectively. In the three and six months ended June 30, 2021, crude oil hedging contracts decreased Sales and other operating revenues by $64 million and $115 million, respectively. At June 30, 2022, pre-tax deferred losses in Accumulated other comprehensive income (loss) related to outstanding crude oil hedging contracts were $306 million ($306 million after income taxes), all of which will be reclassified into earnings during the remainder of 2022 as the hedged crude oil sales are recognized in earnings. Interest rate swaps designated as fair value hedges: We had interest rate swaps with gross notional amounts totaling $100 million at June 30, 2022 and December 31, 2021, that convert interest payments from fixed to floating rates. Changes in the fair value of interest rate swaps and the hedged fixed-rate debt are recorded in Interest expense in the Statement of Consolidated Income . In the three and six months ended June 30, 2022, the change in fair value of interest rate swaps was a decrease of $1 million and $5 million, respectively, compared with a decrease of nil and $1 million in the three and six months ended June 30, 2021, respectively, with a corresponding adjustment in the carrying value of the hedged fixed-rate debt. Derivative contracts not designated as hedging instruments: Foreign exchange: Foreign exchange gains and losses, which are reported in Other, net in Revenues and non-operating income in the Statement of Consolidated Income, were losses of $3 million in both the three and six months ended June 30, 2022, compared with losses of $1 million and $2 million in the three and six months ended June 30, 2021, respectively. A component of foreign exchange gains and losses is the result of foreign exchange derivative contracts that are not designated as hedges, which amounted to net gains of $10 million and $14 million in the three and six months ended June 30, 2022, respectively, compared with net gains of $1 million and nil in the three and six months ended June 30, 2021, respectively. Fair Value Measurement: At June 30, 2022, our total long-term debt, which was substantially comprised of fixed-rate debt instruments, had a carrying value of $8,332 million and a fair value of $8,297 million based on Level 2 inputs in the fair value measurement hierarchy. We also have short-term financial instruments, primarily cash equivalents, accounts receivable and accounts payable, for which the carrying value approximated fair value at June 30, 2022 and December 31, 2021.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events In July 2022, Hess Corporation replaced its $3.5 billion revolving credit facility expiring in May 2024 with a new $3.25 billion revolving credit facility maturing in July 2027. Borrowings on the facility will bear interest based on the Secured Overnight Financing Rate (SOFR), plus the applicable margins specified in the credit agreement, which generally vary based on the credit rating of the Corporation's senior, unsecured, non-credit enhanced long-term debt. The new credit agreement has substantially similar terms to the prior agreement, including covenants. In July 2022, HESM Opco amended and restated its credit agreement for its $1.4 billion senior secured syndicated credit facilities, consisting of a $1.0 billion revolving credit facility and a fully drawn $400 million term loan. The amended and restated credit agreement, among other things, extended the maturity date from December 2024 to July 2027, increased the accordion feature to up to an additional $750 million, which does not represent a lending commitment from the lenders, and replaced the London Interbank Offered Rate (LIBOR) as the benchmark interest rate with SOFR. The amended and restated credit agreement has substantially similar terms to the prior agreement, including commitment amounts, guarantees, secured collateral and covenants.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following: June 30, December 31, (In millions) Crude oil and natural gas liquids $ 142 $ 52 Materials and supplies 175 171 Total Inventories $ 317 $ 223

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [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 during the six months ended June 30, 2022 (in millions): Balance at January 1, 2022 $ 681 Additions to capitalized exploratory well costs pending the determination of proved reserves 194 Reclassifications to wells, facilities and equipment based on the determination of proved reserves (93) Balance at June 30, 2022 $ 782

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued Liabilities consisted of the following: June 30, December 31, (In millions) Accrued operating and marketing expenditures $ 508 $ 462 Accrued capital expenditures 515 479 Accrued payments to royalty and working interest owners 263 253 Current portion of asset retirement obligations 232 185 Accrued interest on debt 143 138 Accrued compensation and benefits 62 124 Other accruals 18 69 Total Accrued Liabilities $ 1,741 $ 1,710

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Revenue from Contracts with Customers on a Disaggregated Basis	Revenue from contracts with customers on a disaggregated basis was as follows (in millions): Exploration and Production Midstream Eliminations Total United States Guyana Malaysia and JDA Other (a) E&P Total Three Months Ended June 30, 2022 Sales of our net production volumes: Crude oil revenue $ 895 $ 681 $ 37 $ 170 $ 1,783 $ — $ — $ 1,783 Natural gas liquids revenue 173 — — — 173 — — 173 Natural gas revenue 126 — 215 5 346 — — 346 Sales of purchased oil and gas 761 18 — 36 815 — — 815 Intercompany revenue — — — — — 314 (314) — Total revenues from contracts with customers 1,955 699 252 211 3,117 314 (314) 3,117 Other operating revenues (b) (95) (52) — (15) (162) — — (162) Total sales and other operating revenues $ 1,860 $ 647 $ 252 $ 196 $ 2,955 $ 314 $ (314) $ 2,955 Three Months Ended June 30, 2021 Sales of our net production volumes: Crude oil revenue $ 661 $ 134 $ 27 $ 135 $ 957 $ — $ — $ 957 Natural gas liquids revenue 120 — — — 120 — — 120 Natural gas revenue 61 — 178 1 240 — — 240 Sales of purchased oil and gas 299 4 — 26 329 — — 329 Intercompany revenue — — — — — 294 (294) — Total revenues from contracts with customers 1,141 138 205 162 1,646 294 (294) 1,646 Other operating revenues (b) (53) (6) — (8) (67) — — (67) Total sales and other operating revenues $ 1,088 $ 132 $ 205 $ 154 $ 1,579 $ 294 $ (294) $ 1,579 Six Months Ended June 30, 2022 Sales of our net production volumes: Crude oil revenue $ 1,731 $ 907 $ 68 $ 316 $ 3,022 $ — $ — $ 3,022 Natural gas liquids revenue 354 — — — 354 — — 354 Natural gas revenue 211 — 405 10 626 — — 626 Sales of purchased oil and gas 1,421 22 — 71 1,514 — — 1,514 Intercompany revenue — — — — — 626 (626) — Total revenues from contracts with customers 3,717 929 473 397 5,516 626 (626) 5,516 Other operating revenues (b) (153) (67) — (28) (248) — — (248) Total sales and other operating revenues $ 3,564 $ 862 $ 473 $ 369 $ 5,268 $ 626 $ (626) $ 5,268 Six Months Ended June 30, 2021 Sales of our net production volumes: Crude oil revenue $ 1,546 $ 315 $ 49 $ 251 $ 2,161 $ — $ — $ 2,161 Natural gas liquids revenue 263 — — — 263 — — 263 Natural gas revenue 174 — 341 4 519 — — 519 Sales of purchased oil and gas 597 8 — 45 650 — — 650 Intercompany revenue — — — — — 583 (583) — Total revenues from contracts with customers 2,580 323 390 300 3,593 583 (583) 3,593 Other operating revenues (b) (94) (10) — (12) (116) — — (116) Total sales and other operating revenues $ 2,486 $ 313 $ 390 $ 288 $ 3,477 $ 583 $ (583) $ 3,477 (a) Other includes Libya and our interests in Denmark, which were sold in the third quarter of 2021. (b) Includes gains (losses) on commodity derivatives.

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Pension Cost	Components of net periodic benefit cost consisted of the following: Three Months Ended Six Months Ended 2022 2021 2022 2021 (In millions) Service cost $ 12 $ 13 $ 25 $ 27 Interest cost (a) 17 14 33 28 Expected return on plan assets (a) (52) (49) (105) (99) Amortization of unrecognized net actuarial losses (a) 3 13 6 28 Settlement loss (a) 2 3 2 4 Net periodic benefit cost (income) (a) $ (18) $ (6) $ (39) $ (12) ( a) Net non-service cost included in Other, net in the Statement of Consolidated Income for the three and six months ended June 30, 2022 was income of $30 million and $64 million, respectively, compared with income of $19 million and $39 million for the three and six months ended June 30, 2021.

Weighted Average Common Shares

Weighted Average Common Shares (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) and Weighted Average Number of Common Shares Used in 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 2022 2021 2022 2021 (In millions) Net income (loss) attributable to Hess Corporation: Net income (loss) $ 754 $ 13 $ 1,259 $ 349 Less: Net income (loss) attributable to noncontrolling interests 87 86 175 170 Net income (loss) attributable to Hess Corporation $ 667 $ (73) $ 1,084 $ 179 Weighted average number of common shares outstanding: Basic 309.7 307.5 309.3 306.7 Effect of dilutive securities Restricted common stock 0.6 — 0.6 0.7 Stock options 0.6 — 0.6 0.5 Performance share units — — 0.1 0.8 Diluted 310.9 307.5 310.6 308.7
Summary of Antidilutive Shares Excluded from Computation of Diluted Shares	The following table summarizes the number of antidilutive shares excluded from the computation of diluted shares: Three Months Ended Six Months Ended 2022 2021 2022 2021 Restricted common stock — 1,641,860 48 94,726 Stock options 269,748 2,562,983 172,581 832,454 Performance share units 29,668 1,161,324 30,510 39,608

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Financial Data by Operating Segment	The following table presents operating segment financial data: Exploration and Production Midstream Corporate, Interest and Other Eliminations Total (In millions) For the Three Months Ended June 30, 2022 Sales and Other Operating Revenues - Third parties $ 2,955 $ — $ — $ — $ 2,955 Intersegment Revenues — 314 — (314) — Sales and Other Operating Revenues $ 2,955 $ 314 $ — $ (314) $ 2,955 Net Income (Loss) attributable to Hess Corporation $ 723 $ 65 $ (121) $ — $ 667 Depreciation, Depletion and Amortization 345 44 2 — 391 Provision (Benefit) for Income Taxes 321 7 — — 328 Capital Expenditures 593 72 — — 665 For the Three Months Ended June 30, 2021 Sales and Other Operating Revenues - Third parties $ 1,579 $ — $ — $ — $ 1,579 Intersegment Revenues — 294 — (294) — Sales and Other Operating Revenues $ 1,579 $ 294 $ — $ (294) $ 1,579 Net Income (Loss) attributable to Hess Corporation $ (25) $ 76 $ (124) $ — $ (73) Depreciation, Depletion and Amortization 344 41 — — 385 Impairment and other 147 — — — 147 Provision (Benefit) for Income Taxes 119 3 — — 122 Capital Expenditures 396 47 — — 443 For the Six Months Ended June 30, 2022 Sales and Other Operating Revenues - Third parties $ 5,268 $ — $ — $ — $ 5,268 Intersegment Revenues — 626 — (626) — Sales and Other Operating Revenues $ 5,268 $ 626 $ — $ (626) $ 5,268 Net Income (Loss) attributable to Hess Corporation $ 1,183 $ 137 $ (236) $ — $ 1,084 Depreciation, Depletion and Amortization 637 89 2 — 728 Provision (Benefit) for Income Taxes 513 12 — — 525 Capital Expenditures 1,136 109 — — 1,245 For the Six Months Ended June 30, 2021 Sales and Other Operating Revenues - Third parties $ 3,477 $ — $ — $ — $ 3,477 Intersegment Revenues — 583 — (583) — Sales and Other Operating Revenues $ 3,477 $ 583 $ — $ (583) $ 3,477 Net Income (Loss) attributable to Hess Corporation $ 283 $ 151 $ (255) $ — $ 179 Depreciation, Depletion and Amortization 699 81 1 — 781 Impairment and other 147 — — — 147 Provision (Benefit) for Income Taxes 239 6 — — 245 Capital Expenditures 676 70 — — 746 Identifiable assets by operating segment were as follows: June 30, December 31, (In millions) Exploration and Production $ 14,886 $ 14,173 Midstream 3,755 3,671 Corporate, Interest and Other 2,539 2,671 Total $ 21,180 $ 20,515

Financial Risk Management Act_2

Financial Risk Management Activities (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional Amounts of Outstanding Financial Risk Management Derivative Contracts	The notional amounts of outstanding financial risk management derivative contracts were as follows: June 30, December 31, (In millions) Commodity - crude oil hedge contracts (millions of barrels) 27.6 54.8 Foreign exchange forwards $ 157 $ 145 Interest rate swaps $ 100 $ 100
Fair Values of Financial Risk Management Derivative Instruments	The table below reflects the fair values of risk management derivative instruments. Assets Liabilities (In millions) June 30, 2022 Derivative Contracts Designated as Hedging Instruments: Crude oil put options $ 26 $ — Interest rate swaps — (3) Total derivative contracts designated as hedging instruments 26 (3) Derivative Contracts Not Designated as Hedging Instruments: Foreign exchange forwards and swaps 5 — Total derivative contracts not designated as hedging instruments 5 — Gross fair value of derivative contracts 31 (3) Gross amounts offset in the Consolidated Balance Sheet — — Net Amounts Presented in the Consolidated Balance Sheet $ 31 $ (3) December 31, 2021 Derivative Contracts Designated as Hedging Instruments: Crude oil collars $ 155 $ — Interest rate swaps 2 — Total derivative contracts designated as hedging instruments 157 — Derivative Contracts Not Designated as Hedging Instruments: Foreign exchange forwards and swaps — (1) Total derivative contracts not designated as hedging instruments — (1) Gross fair value of derivative contracts 157 (1) Gross amounts offset in the Consolidated Balance Sheet — — Net Amounts Presented in the Consolidated Balance Sheet $ 157 $ (1)

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Crude oil and natural gas liquids	$ 142	$ 52
Materials and supplies	175	171
Total Inventories	$ 317	$ 223

Property, Plant and Equipment -

Property, Plant and Equipment - Net Changes in Capitalized Exploratory Well Costs (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Property, Plant and Equipment [Abstract]
Beginning balance	$ 681
Additions to capitalized exploratory well costs pending the determination of proved reserves	194
Reclassifications to wells, facilities and equipment based on the determination of proved reserves	(93)
Ending balance	$ 782

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) well
Capitalized Exploratory Well Costs [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year | $	$ 417
Stabroek Block, Offshore Guyana
Capitalized Exploratory Well Costs [Line Items]
Capitalized well costs percentage	89%
Project interest percentage	30%
Huron Prospect, Gulf of Mexico
Capitalized Exploratory Well Costs [Line Items]
Project interest percentage	40%
JDA, Gulf of Thailand
Capitalized Exploratory Well Costs [Line Items]
Capitalized well costs percentage	9%
Project interest percentage	50%
Number of successful exploration wells drilled	3
North Malay Basin, Offshore Peninsular Malaysia
Capitalized Exploratory Well Costs [Line Items]
Capitalized well costs percentage	2%
Project interest percentage	50%
Number of successful exploration wells drilled	1

Hess Midstream LP (Detail)

Hess Midstream LP (Detail) shares in Millions, $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Apr. 30, 2022 USD ($) shares	Mar. 31, 2021 USD ($) shares	Jun. 30, 2022 USD ($) ft³	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) ft³	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Variable Interest Entity [Line Items]
Liabilities			$ 13,422		$ 13,422		$ 13,489
Cash and cash equivalents			2,159		2,159		2,713
Property, plant and equipment, net			$ 14,818		$ 14,818		14,182
Gas processing capacity of LM4 | ft³			200,000,000		200,000,000
Equity Method Investment, Ownership Percentage			50%		50%
Joint venture percentage owned by Targa Resources Corp			50%		50%
Processing fees incurred			$ 4	$ 7	$ 9	$ 14
Number of Class A shares of subsidiary public offering (in shares) | shares	10.2	6.9
Proceeds from sale of Class A shares of Hess Midstream LP	$ 146	$ 70			146	70
Sale of Class A shares of Hess Midstream LP			218		218	97
Number of Class B units repurchased by Hess Midstream LP (in shares) | shares	13.6
Proceeds from repurchase of units held by Hess Corporation and Global Infrastructure Partners, by Hess Midstream Operations LP	$ 400
Principal amount of senior unsecured notes issued by Hess Midstream Operations LP			$ 400		$ 400
Interest rate of senior unsecured notes issued by Hess Midstream Operations LP			5.50%		5.50%
Repurchase of Class B units of Hess Midstream Operations LP			$ (183)		$ (183)
Deferred tax impact to noncontrolling interests from repurchase of units held by parent by consolidated subsidiary	17
Proceeds to noncontrolling interests from repurchase of units held by parent by consolidated subsidiary	200
Percent interest in consolidated entity			41%
Capital in Excess of Par
Variable Interest Entity [Line Items]
Sale of Class A shares of Hess Midstream LP	130	56	$ 130		130	56
Repurchase of Class B units of Hess Midstream Operations LP	32		32		32
Noncontrolling Interests
Variable Interest Entity [Line Items]
Sale of Class A shares of Hess Midstream LP	88	41	88		88	$ 41
Repurchase of Class B units of Hess Midstream Operations LP	32		(215)		(215)
Noncontrolling Interests | Change In Ownership
Variable Interest Entity [Line Items]
Sale of Class A shares of Hess Midstream LP	16	14
Noncontrolling Interests | Recognition Of Deferred Tax Asset
Variable Interest Entity [Line Items]
Sale of Class A shares of Hess Midstream LP	$ 72	$ 27
Variable Interest Entity | Hess Midstream LP
Variable Interest Entity [Line Items]
Cash and cash equivalents			2		2		2
Property, plant and equipment, net			3,145		3,145		3,125
Variable Interest Entity | Hess Midstream LP | Nonrecourse
Variable Interest Entity [Line Items]
Liabilities			3,078		3,078		2,694
Variable Interest Entity | Hess Midstream LP | Little Missouri Four
Variable Interest Entity [Line Items]
Equity method investment in LM4			$ 97		$ 97		$ 102

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued operating and marketing expenditures	$ 508	$ 462
Accrued capital expenditures	515	479
Accrued payments to royalty and working interest owners	263	253
Current portion of asset retirement obligations	232	185
Accrued interest on debt	143	138
Accrued compensation and benefits	62	124
Other accruals	18	69
Accrued liabilities	$ 1,741	$ 1,710

Debt (Details)

Debt (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	6 Months Ended
	Apr. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Debt Disclosure [Abstract]
Principal amount of senior unsecured notes issued by Hess Midstream Operations LP		$ 400
Interest rate of senior unsecured notes issued by Hess Midstream Operations LP		5.50%
Number of Class B units repurchased by Hess Midstream LP (in shares)	13.6
Repayment of remaining principal amount of term loan		$ 500
Term loan			$ 1,000

Revenue - Summary of Revenue fr

Revenue - Summary of Revenue from Contracts with Customers on a Disaggregated Basis (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 3,117	$ 1,646	$ 5,516	$ 3,593
Other operating revenues	(162)	(67)	(248)	(116)
Total sales and other operating revenues	2,955	1,579	5,268	3,477
Crude oil revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,783	957	3,022	2,161
Natural gas liquids revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	173	120	354	263
Natural gas revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	346	240	626	519
Sales of purchased oil and gas
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	815	329	1,514	650
Exploration and Production
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	2,955	1,579	5,268	3,477
Exploration and Production | Crude oil revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,783	957	3,022	2,161
Exploration and Production | Crude oil revenue | United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	895	661	1,731	1,546
Exploration and Production | Crude oil revenue | Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	681	134	907	315
Exploration and Production | Crude oil revenue | Malaysia and JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	37	27	68	49
Exploration and Production | Crude oil revenue | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	170	135	316	251
Exploration and Production | Natural gas liquids revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	173	120	354	263
Exploration and Production | Natural gas liquids revenue | United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	173	120	354	263
Exploration and Production | Natural gas liquids revenue | Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production | Natural gas liquids revenue | Malaysia and JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production | Natural gas liquids revenue | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production | Natural gas revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	346	240	626	519
Exploration and Production | Natural gas revenue | United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	126	61	211	174
Exploration and Production | Natural gas revenue | Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production | Natural gas revenue | Malaysia and JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	215	178	405	341
Exploration and Production | Natural gas revenue | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	5	1	10	4
Exploration and Production | Sales of purchased oil and gas
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	815	329	1,514	650
Exploration and Production | Sales of purchased oil and gas | United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	761	299	1,421	597
Exploration and Production | Sales of purchased oil and gas | Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	18	4	22	8
Exploration and Production | Sales of purchased oil and gas | Malaysia and JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production | Sales of purchased oil and gas | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	36	26	71	45
Midstream
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	0	0	0	0
Midstream | Crude oil revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Midstream | Natural gas liquids revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Midstream | Natural gas revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Midstream | Sales of purchased oil and gas
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments | Exploration and Production
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	3,117	1,646	5,516	3,593
Other operating revenues	(162)	(67)	(248)	(116)
Total sales and other operating revenues	2,955	1,579	5,268	3,477
Operating Segments | Exploration and Production | United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1,955	1,141	3,717	2,580
Other operating revenues	(95)	(53)	(153)	(94)
Total sales and other operating revenues	1,860	1,088	3,564	2,486
Operating Segments | Exploration and Production | Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	699	138	929	323
Other operating revenues	(52)	(6)	(67)	(10)
Total sales and other operating revenues	647	132	862	313
Operating Segments | Exploration and Production | Malaysia and JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	252	205	473	390
Other operating revenues	0	0	0	0
Total sales and other operating revenues	252	205	473	390
Operating Segments | Exploration and Production | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	211	162	397	300
Other operating revenues	(15)	(8)	(28)	(12)
Total sales and other operating revenues	196	154	369	288
Operating Segments | Midstream
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	314	294	626	583
Other operating revenues	0	0	0	0
Total sales and other operating revenues	314	294	626	583
Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(314)	(294)	(626)	(583)
Other operating revenues	0	0	0	0
Total sales and other operating revenues	(314)	(294)	(626)	(583)
Eliminations | Exploration and Production
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Total sales and other operating revenues	0	0	0	0
Eliminations | Exploration and Production | United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations | Exploration and Production | Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations | Exploration and Production | Malaysia and JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations | Exploration and Production | Other
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations | Midstream
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	314	294	626	583
Total sales and other operating revenues	$ 314	$ 294	$ 626	$ 583

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract with customer, asset	$ 0	$ 0
Contract with customer, liability	$ 24,000,000	$ 24,000,000

Impairment and Other (Details)

Impairment and Other (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021 USD ($)
Asset Impairment Charges [Abstract]
Loss contingency charge, pre-tax	$ 147
Loss contingency charge, after tax	$ 147

Retirement Plans - Components o

Retirement Plans - Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Retirement Benefits [Abstract]
Service cost	$ 12	$ 13	$ 25	$ 27
Interest cost	17	14	33	28
Expected return on plan assets	(52)	(49)	(105)	(99)
Amortization of unrecognized net actuarial losses	3	13	6	28
Settlement loss	2	3	2	4
Pension (income) expense	(18)	(6)	(39)	(12)
Net non-service pension (income) costs included in other, net	$ (30)	$ (19)	$ (64)	$ (39)

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss	$ (2)	$ (3)	$ (2)	$ (4)
Change in the funded status of retirement plan upon interim re-measurement due to settlement of projected benefit obligation	152	(11)	152	3
Service cost	12	13	25	27
Net non-service pension (income) costs	(30)	(19)	(64)	(39)
Interest cost	17	14	33	28
Amortization of unrecognized net actuarial losses	(3)	(13)	(6)	(28)
Expected return on plan assets	52	$ 49	105	$ 99
Corporation's estimated contribution for funded pension plans in current fiscal year	45		$ 45
Scenario Forecast
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss					$ (2)
Service cost					45
Net non-service pension (income) costs					118
Interest cost					70
Amortization of unrecognized net actuarial losses					10
Expected return on plan assets					$ 200
Hess Corporation Employees’ Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss	(13)
Change in the funded status of retirement plan upon interim re-measurement due to settlement of projected benefit obligation	154
Hess Corporation Employees’ Pension Plan | Single Premium Annuity Contract
Defined Benefit Plan Disclosure [Line Items]
Single premium annuity contract cost and Lump sum payments	170
HOVENSA Legacy Employees' Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pension settlement loss	11
Change in the funded status of retirement plan upon interim re-measurement due to settlement of projected benefit obligation	6
HOVENSA Legacy Employees' Pension Plan | Single Premium Annuity Contract
Defined Benefit Plan Disclosure [Line Items]
Single premium annuity contract cost and Lump sum payments	80
HOVENSA Legacy Employees' Pension Plan | Lump Sum Payments
Defined Benefit Plan Disclosure [Line Items]
Single premium annuity contract cost and Lump sum payments	$ 20

Weighted Average Common Share_2

Weighted Average Common Shares - Net Income (Loss) and Weighted Average Number of Common Shares Used in Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income (loss) attributable to Hess Corporation:
Net income (loss)	$ 754	$ 13	$ 1,259	$ 349
Less: Net income (loss) attributable to noncontrolling interests	87	86	175	170
Net Income (Loss) Attributable to Hess Corporation	$ 667	$ (73)	$ 1,084	$ 179
Weighted average number of common shares outstanding:
Basic (in shares)	309.7	307.5	309.3	306.7
Diluted (in shares)	310.9	307.5	310.6	308.7
Restricted common stock
Weighted average number of common shares outstanding:
Effect of dilutive securities (in shares)	0.6	0	0.6	0.7
Stock options
Weighted average number of common shares outstanding:
Effect of dilutive securities (in shares)	0.6	0	0.6	0.5
Performance share units
Weighted average number of common shares outstanding:
Effect of dilutive securities (in shares)	0	0	0.1	0.8

Weighted Average Common Share_3

Weighted Average Common Shares - Summary of Antidilutive Shares Excluded from Computation of Diluted Shares (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restricted common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of diluted shares (in shares)	0	1,641,860	48	94,726
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of diluted shares (in shares)	269,748	2,562,983	172,581	832,454
Performance share units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of diluted shares (in shares)	29,668	1,161,324	30,510	39,608

Weighted Average Common Share_4

Weighted Average Common Shares - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Shares granted, restricted stock (in shares)		565,318	705,489
Shares granted, performance share units (in shares)		178,008	205,155
Shares granted, stock options (in shares)		269,748	319,295
Authorized common stock repurchase amount	$ 7,500	$ 7,500
Remaining authorized common stock repurchase amount	650	650
Common stock acquired and retired	$ 190	$ 190	$ 0
Number of common stock acquired and retired	1,800,000	1,800,000

Guarantees and Contingencies (D

Guarantees and Contingencies (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) case
MTBE Cases
Loss Contingencies [Line Items]
Total number of remaining active cases filed | case	2
Lower Passaic River
Loss Contingencies [Line Items]
Estimated remediation cost	$ 1,820
Gowanus Canal Superfund Site
Loss Contingencies [Line Items]
Estimated remediation cost	$ 506

Segment Information - Schedule

Segment Information - Schedule of Financial Data by Operating Segment (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 2,955	$ 1,579	$ 5,268	$ 3,477
Net Income (Loss) attributable to Hess Corporation	667	(73)	1,084	179
Depreciation, depletion and amortization	391	385	728	781
Impairment and other	0	147	0	147
Provision (benefit) for income taxes	328	122	525	245
Capital Expenditures	665	443	1,245	746
Assets	21,180		21,180		$ 20,515
Exploration and Production
Segment Reporting Information [Line Items]
Sales and other operating revenues	2,955	1,579	5,268	3,477
Midstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	0	0	0
Operating Segments | Exploration and Production
Segment Reporting Information [Line Items]
Sales and other operating revenues	2,955	1,579	5,268	3,477
Net Income (Loss) attributable to Hess Corporation	723	(25)	1,183	283
Depreciation, depletion and amortization	345	344	637	699
Impairment and other		147		147
Provision (benefit) for income taxes	321	119	513	239
Capital Expenditures	593	396	1,136	676
Assets	14,886		14,886		14,173
Operating Segments | Midstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	314	294	626	583
Net Income (Loss) attributable to Hess Corporation	65	76	137	151
Depreciation, depletion and amortization	44	41	89	81
Impairment and other		0		0
Provision (benefit) for income taxes	7	3	12	6
Capital Expenditures	72	47	109	70
Assets	3,755		3,755		3,671
Corporate, Interest and Other
Segment Reporting Information [Line Items]
Net Income (Loss) attributable to Hess Corporation	(121)	(124)	(236)	(255)
Depreciation, depletion and amortization	2	0	2	1
Impairment and other		0		0
Provision (benefit) for income taxes	0	0	0	0
Capital Expenditures	0	0	0	0
Assets	2,539		2,539		$ 2,671
Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(314)	(294)	(626)	(583)
Net Income (Loss) attributable to Hess Corporation	0	0	0	0
Depreciation, depletion and amortization	0	0	0	0
Impairment and other		0		0
Provision (benefit) for income taxes	0	0	0	0
Capital Expenditures	0	0	0	0
Eliminations | Exploration and Production
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	0	0	0
Eliminations | Midstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 314	$ 294	$ 626	$ 583

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	2

Financial Risk Management Act_3

Financial Risk Management Activities - Notional Amounts of Outstanding Financial Risk Management Derivative Contracts (Detail) MMBbls in Millions, $ in Millions	Jun. 30, 2022 USD ($) MMBbls	Dec. 31, 2021 USD ($) MMBbls
Commodity Options / Collars
Derivative [Line Items]
Commodity - crude oil | MMBbls	27.6	54.8
Foreign Exchange Forwards / Swaps
Derivative [Line Items]
Outstanding gross notional amount	$ 157	$ 145
Interest Rate Swaps
Derivative [Line Items]
Outstanding gross notional amount	$ 100	$ 100

Financial Risk Management Act_4

Financial Risk Management Activities - Fair Values of Financial Risk Management Derivative Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	$ 31	$ 157
Liabilities - Gross fair value of derivative contracts	(3)	(1)
Assets - Gross amounts offset in the Consolidated Balance Sheet	0	0
Liabilities - Gross amounts offset in the Consolidated Balance Sheet	0	0
Derivative assets	31	157
Derivative liabilities	(3)	(1)
Derivative Contracts Designated as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	26	157
Liabilities - Gross fair value of derivative contracts	(3)	0
Derivative Contracts Designated as Hedging Instruments: | Commodity Options / Collars
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	26	155
Liabilities - Gross fair value of derivative contracts	0	0
Derivative Contracts Designated as Hedging Instruments: | Interest Rate Swaps
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	0	2
Liabilities - Gross fair value of derivative contracts	(3)	0
Derivative Contracts Not Designated as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	5	0
Liabilities - Gross fair value of derivative contracts	0	(1)
Derivative Contracts Not Designated as Hedging Instruments: | Foreign Exchange Forwards / Swaps
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	5	0
Liabilities - Gross fair value of derivative contracts	$ 0	$ (1)

Financial Risk Management Act_5

Financial Risk Management Activities - Additional Information (Detail) - Commodity Options / Collars bbl / d in Thousands, bbl in Thousands, MMBbls in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($) $ / bbl	Jun. 30, 2022 bbl MMBbls $ / bbl	Dec. 31, 2021 bbl / d MMBbls $ / bbl
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of crude oil | MMBbls		27.6	54.8
Premiums paid to purchase option contracts | $	$ 325
West Texas Intermediate
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of crude oil		90	90
Average monthly floor price (US dollar per barrel)		60	60
Average monthly ceiling price (US dollar per barrel)			100
Average monthly selling price (US dollar per barrel)	100
Brent
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of crude oil		60	60
Average monthly floor price (US dollar per barrel)		65	65
Average monthly ceiling price (US dollar per barrel)			105
Average monthly selling price (US dollar per barrel)	105

Financial Risk Management Act_6

Financial Risk Management Activities - Derivative Contracts - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding gross notional amount	$ 100,000,000		$ 100,000,000		$ 100,000,000
Foreign Exchange Forwards / Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding gross notional amount	157,000,000		157,000,000		145,000,000
Derivative Contracts Designated as Hedging Instruments: | Commodity Options / Collars | Designated as Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	(163,000,000)	$ (64,000,000)	(255,000,000)	$ (115,000,000)
Pre-tax deferred income (losses) in Accumulated other comprehensive income (loss) to be reclassified into earnings within the next twelve months			(306,000,000)
Deferred losses in Accumulated other comprehensive income (loss) related to outstanding crude oil hedging contracts, net of tax			(306,000,000)
Derivative Contracts Designated as Hedging Instruments: | Interest Rate Swaps | Designated as Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding gross notional amount	100,000,000		100,000,000		$ 100,000,000
Unrealized change in fair value of interest rate swaps - (increase in derivative asset) decrease in derivative liability	(1,000,000)	0	(5,000,000)	(1,000,000)
Derivative Contracts Not Designated as Hedging Instruments: | Foreign Exchange Forwards / Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange gains (losses) reported in Other, net in the Statement of Consolidated Income	(3,000,000)	(1,000,000)	(3,000,000)	(2,000,000)
Net gains (losses) on foreign exchange contracts not designated as hedging instruments	$ 10,000,000	$ 1,000,000	$ 14,000,000	$ 0

Financial Risk Management Act_7

Financial Risk Management Activities - Fair Value Measurements - Additional Information (Detail) $ in Millions	Jun. 30, 2022 USD ($)
Fair Value Disclosures [Abstract]
Long-term debt	$ 8,332
Long-term debt, fair value	$ 8,297

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Jul. 14, 2022	Jun. 30, 2022	Jun. 30, 2021
Subsequent Event [Line Items]
Term loan			$ 1,000
Hess Corporation | Revolving Credit Facility
Subsequent Event [Line Items]
Revolving credit facility - maximum borrowing capacity		$ 3,500
Subsequent Event | Hess Corporation | Revolving Credit Facility
Subsequent Event [Line Items]
Revolving credit facility - maximum borrowing capacity	$ 3,250
Subsequent Event | Midstream
Subsequent Event [Line Items]
Senior secured syndicated credit facilities	1,400
Term loan	400
Line Of Credit Facility Maximum Borrowing Capacity Accordion Feature	750
Subsequent Event | Midstream | Revolving Credit Facility
Subsequent Event [Line Items]
Revolving credit facility - maximum borrowing capacity	$ 1,000