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Segment Information (Tables)
6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Financial Data and Identifiable Assets by Operating Segment

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

For the Three Months Ended June 30, 2017

 

Exploration and Production

 

 

Midstream

 

 

Corporate, Interest and Other

 

 

Eliminations

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third parties

 

$

1,213

 

 

$

3

 

 

$

 

 

$

 

 

$

1,216

 

Intersegment Revenues

 

 

 

 

 

154

 

 

 

 

 

 

(154

)

 

 

 

Operating Revenues

 

$

1,213

 

 

$

157

 

 

$

 

 

$

(154

)

 

$

1,216

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss) attributable to Hess Corporation

 

$

(354

)

 

$

16

 

 

$

(111

)

 

$

 

 

$

(449

)

Depreciation, Depletion and Amortization

 

 

708

 

 

 

32

 

 

 

1

 

 

 

 

 

 

741

 

Provision (Benefit) for Income Taxes (a)

 

 

(14

)

 

 

10

 

 

 

(4

)

 

 

 

 

 

(8

)

Capital Expenditures

 

 

483

 

 

 

20

 

 

 

 

 

 

 

 

 

503

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended June 30, 2016

 

Exploration and Production

 

 

Midstream

 

 

Corporate, Interest and Other

 

 

Eliminations

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third parties

 

$

1,222

 

 

$

2

 

 

$

 

 

$

 

 

$

1,224

 

Intersegment Revenues

 

 

 

 

 

131

 

 

 

 

 

 

(131

)

 

 

 

Operating Revenues

 

$

1,222

 

 

$

133

 

 

$

 

 

$

(131

)

 

$

1,224

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss) attributable to Hess Corporation

 

$

(328

)

 

$

11

 

 

$

(75

)

 

$

 

 

$

(392

)

Depreciation, Depletion and Amortization

 

 

765

 

 

 

30

 

 

 

2

 

 

 

 

 

 

797

 

Provision (Benefit) for Income Taxes

 

 

(273

)

 

 

7

 

 

 

(39

)

 

 

 

 

 

(305

)

Capital Expenditures

 

 

433

 

 

 

68

 

 

 

 

 

 

 

 

 

501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended June 30, 2017

 

Exploration and Production

 

 

Midstream

 

 

Corporate, Interest and Other

 

 

Eliminations

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third parties

 

$

2,488

 

 

$

5

 

 

$

 

 

$

 

 

$

2,493

 

Intersegment Revenues

 

 

 

 

 

301

 

 

 

 

 

 

(301

)

 

 

 

Operating Revenues

 

$

2,488

 

 

$

306

 

 

$

 

 

$

(301

)

 

$

2,493

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss) attributable to Hess Corporation

 

$

(587

)

 

$

34

 

 

$

(220

)

 

$

 

 

$

(773

)

Depreciation, Depletion and Amortization

 

 

1,411

 

 

 

64

 

 

 

3

 

 

 

 

 

 

1,478

 

Provision (Benefit) for Income Taxes (a)

 

 

(34

)

 

 

21

 

 

 

(8

)

 

 

 

 

 

(21

)

Capital Expenditures

 

 

825

 

 

 

48

 

 

 

 

 

 

 

 

 

873

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended June 30, 2016

 

Exploration and Production

 

 

Midstream

 

 

Corporate, Interest and Other

 

 

Eliminations

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Revenues - Third parties

 

$

2,193

 

 

$

4

 

 

$

 

 

$

 

 

$

2,197

 

Intersegment Revenues

 

 

 

 

 

264

 

 

 

 

 

 

(264

)

 

 

 

Operating Revenues

 

$

2,193

 

 

$

268

 

 

$

 

 

$

(264

)

 

$

2,197

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss) attributable to Hess Corporation

 

$

(781

)

 

$

27

 

 

$

(147

)

 

$

 

 

$

(901

)

Depreciation, Depletion and Amortization

 

 

1,602

 

 

 

58

 

 

 

5

 

 

 

 

 

 

1,665

 

Provision (Benefit) for Income Taxes

 

 

(588

)

 

 

16

 

 

 

(79

)

 

 

 

 

 

(651

)

Capital Expenditures

 

 

937

 

 

 

104

 

 

 

 

 

 

 

 

 

1,041

 

(a)

The provision for income taxes in the Midstream segment is presented before consolidating its operations with other U.S. activities of the Company and prior to evaluating realizability of net U.S. deferred taxes.  An offsetting impact is presented in the E&P segment.


Identifiable assets by operating segment were as follows:

 

 

June 30,

 

 

December 31,

 

 

 

2017

 

 

2016

 

 

 

(In millions)

 

Exploration and Production

 

$

22,402

 

 

$

22,856

 

Midstream

 

 

3,207

 

 

 

3,165

 

Corporate, Interest and Other

 

 

2,189

 

 

 

2,600

 

Total

 

$

27,798

 

 

$

28,621