Segment Information

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Information

12.  Segment Information

The Corporation has two operating segments, Exploration and Production and Bakken Midstream.  The Exploration and Production operating segment explores for, develops, produces, purchases and sells crude oil, natural gas liquids and natural gas with production operations primarily in the United States (U.S.), Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand (JDA), Malaysia, and Norway.  The Bakken Midstream operating segment provides services including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, terminaling and loading crude oil and natural gas liquids, transportation of crude oil by rail car and the storage and terminaling of propane, primarily located in the Bakken shale play of North Dakota. All unallocated costs are reflected under Corporate, Interest and Other.

The following table presents operating segment financial data for continuing operations (in millions):

For the Three Months Ended June 30, 2015	Exploration and Production			Bakken Midstream			Corporate, Interest and Other			Eliminations			Total
Operating Revenues - Third parties	$	1,953		$	—		$	—		$	—		$	1,953
Intersegment Revenues		—			145			—			(145	)		-
Operating Revenues	$	1,953		$	145		$	—		$	(145	)	$	1,953
Net income (loss) from continuing operations attributable to Hess Corporation	$	(502	)	$	32		$	(83	)	$	—		$	(553	)
Depreciation, depletion and amortization		1,004			22			2			—			1,028
Provision (benefit) for income taxes		(120	)		19			(55	)		—			(156	)
Capital Expenditures*		948			65			—			—			1,013
For the Three Months Ended June 30, 2014	Exploration and Production			Bakken Midstream			Corporate, Interest and Other			Eliminations			Total
Operating Revenues - Third parties	$	2,829		$	—		$	—		$	—		$	2,829
Intersegment Revenues		-			81			—			(81	)		—
Operating Revenues	$	2,829		$	81		$	—		$	(81	)	$	2,829
Net income (loss) from continuing operations attributable to Hess Corporation	$	1,049		$	7		$	(82	)	$	—		$	974
Depreciation, depletion and amortization		762			20			3			—			785
Provision (benefit) for income taxes		141			4			(53	)		—			92
Capital Expenditures*		1,138			48			16			—			1,202
For the Six Months Ended June 30, 2015	Exploration and Production			Bakken Midstream			Corporate, Interest and Other			Eliminations			Total
Operating Revenues - Third parties	$	3,491		$	—		$	—		$	—		$	3,491
Intersegment Revenues		-			275			—			(275	)		-
Operating Revenues	$	3,491		$	275		$	—		$	(275	)	$	3,491
Net income (loss) from continuing operations attributable to Hess Corporation	$	(816	)	$	59		$	(172	)	$	—		$	(929	)
Depreciation, depletion and amortization		1,936			43			5			—			1,984
Provision (benefit) for income taxes		(431	)		35			(111	)		—			(507	)
Capital Expenditures*		2,145			105			—			—			2,250
For the Six Months Ended June 30, 2014	Exploration and Production			Bakken Midstream			Corporate, Interest and Other			Eliminations			Total
Operating Revenues - Third parties	$	5,502		$	—		$	—		$	—		$	5,502
Intersegment Revenues		—			129			—			(129	)		-
Operating Revenues	$	5,502		$	129		$	—		$	(129	)	$	5,502
Net income (loss) from continuing operations attributable to Hess Corporation	$	1,570		$	(6	)	$	(226	)	$	—		$	1,338
Depreciation, depletion and amortization		1,474			29			8			—			1,511
Provision (benefit) for income taxes		476			(3	)		(142	)		—			331
Capital Expenditures*		2,195			121			32			—			2,348

*   Capital expenditures include accruals.

Identifiable assets by operating segment were as follows:

	June 30,		December 31,
	2015		2014
	(In millions)
Exploration and Production	$	31,992	$	32,742
Bakken Midstream		2,550		2,465
Corporate, Interest and Other		945		2,213
Continuing operations		35,487		37,420
Discontinued operations		71		1,158
Total	$	35,558	$	38,578