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Segment Information (Tables)
6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Corporation's Results by Operating Segment

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

For the Three Months Ended June 30, 2015

 

Exploration and Production

 

 

Bakken Midstream

 

 

Corporate, Interest and Other

 

 

Eliminations

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third parties

 

$

1,953

 

 

$

 

 

$

 

 

$

 

 

$

1,953

 

Intersegment Revenues

 

 

 

 

 

145

 

 

 

 

 

 

(145

)

 

 

-

 

Operating Revenues

 

$

1,953

 

 

$

145

 

 

$

 

 

$

(145

)

 

$

1,953

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations attributable to Hess Corporation

 

$

(502

)

 

$

32

 

 

$

(83

)

 

$

 

 

$

(553

)

Depreciation, depletion and amortization

 

 

1,004

 

 

 

22

 

 

 

2

 

 

 

 

 

 

1,028

 

Provision (benefit) for income taxes

 

 

(120

)

 

 

19

 

 

 

(55

)

 

 

 

 

 

(156

)

Capital Expenditures*

 

 

948

 

 

 

65

 

 

 

 

 

 

 

 

 

1,013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended June 30, 2014

 

Exploration and Production

 

 

Bakken Midstream

 

 

Corporate, Interest and Other

 

 

Eliminations

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third parties

 

$

2,829

 

 

$

 

 

$

 

 

$

 

 

$

2,829

 

Intersegment Revenues

 

 

-

 

 

 

81

 

 

 

 

 

 

(81

)

 

 

 

Operating Revenues

 

$

2,829

 

 

$

81

 

 

$

 

 

$

(81

)

 

$

2,829

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations attributable to Hess Corporation

 

$

1,049

 

 

$

7

 

 

$

(82

)

 

$

 

 

$

974

 

Depreciation, depletion and amortization

 

 

762

 

 

 

20

 

 

 

3

 

 

 

 

 

 

785

 

Provision (benefit) for income taxes

 

 

141

 

 

 

4

 

 

 

(53

)

 

 

 

 

 

92

 

Capital Expenditures*

 

 

1,138

 

 

 

48

 

 

 

16

 

 

 

 

 

 

1,202

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended June 30, 2015

 

Exploration and Production

 

 

Bakken Midstream

 

 

Corporate, Interest and Other

 

 

Eliminations

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third parties

 

$

3,491

 

 

$

 

 

$

 

 

$

 

 

$

3,491

 

Intersegment Revenues

 

 

-

 

 

 

275

 

 

 

 

 

 

(275

)

 

 

-

 

Operating Revenues

 

$

3,491

 

 

$

275

 

 

$

 

 

$

(275

)

 

$

3,491

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations attributable to Hess Corporation

 

$

(816

)

 

$

59

 

 

$

(172

)

 

$

 

 

$

(929

)

Depreciation, depletion and amortization

 

 

1,936

 

 

 

43

 

 

 

5

 

 

 

 

 

 

1,984

 

Provision (benefit) for income taxes

 

 

(431

)

 

 

35

 

 

 

(111

)

 

 

 

 

 

(507

)

Capital Expenditures*

 

 

2,145

 

 

 

105

 

 

 

 

 

 

 

 

 

2,250

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended June 30, 2014

 

Exploration and Production

 

 

Bakken Midstream

 

 

Corporate, Interest and Other

 

 

Eliminations

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third parties

 

$

5,502

 

 

$

 

 

$

 

 

$

 

 

$

5,502

 

Intersegment Revenues

 

 

 

 

 

129

 

 

 

 

 

 

(129

)

 

 

-

 

Operating Revenues

 

$

5,502

 

 

$

129

 

 

$

 

 

$

(129

)

 

$

5,502

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations attributable to Hess Corporation

 

$

1,570

 

 

$

(6

)

 

$

(226

)

 

$

 

 

$

1,338

 

Depreciation, depletion and amortization

 

 

1,474

 

 

 

29

 

 

 

8

 

 

 

 

 

 

1,511

 

Provision (benefit) for income taxes

 

 

476

 

 

 

(3

)

 

 

(142

)

 

 

 

 

 

331

 

Capital Expenditures*

 

 

2,195

 

 

 

121

 

 

 

32

 

 

 

 

 

 

2,348

 

 

Schedule of Identifiable Assets by Operating Segment

Identifiable assets by operating segment were as follows:

 

 

June 30,

 

 

December 31,

 

 

 

2015

 

 

2014

 

 

 

(In millions)

 

Exploration and Production

 

$

31,992

 

 

$

32,742

 

Bakken Midstream

 

 

2,550

 

 

 

2,465

 

Corporate, Interest and Other

 

 

945

 

 

 

2,213

 

Continuing operations

 

 

35,487

 

 

 

37,420

 

Discontinued operations

 

 

71

 

 

 

1,158

 

Total

 

$

35,558

 

 

$

38,578