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The Hess Corporation is an American integrated oil company headquartered in New York City, and a Fortune 100 corporation. The company explores, produces, transports, and refines crude oil and natural gas. Vertically completing the logistical chain, about 1,360 Hess branded filling stations market gasoline to consumers in 16 states along the East Coast of the United States. Refined petroleum products, as well as natural gas and electricity, are marketed to customers throughout the East Coast of the United States. Although towered over in size by enormous global players in the same industry, Hess placed #75 in the 2013 Fortune 500 rankings.The company has exploration and production operations in the United States, United Kingdom, Norway, Denmark, Russia, Equatorial Guinea, Algeria, Libya, Gabon, Egypt, Ghana, the Joint Development Area of Malaysia and Thailand, Indonesia, Thailand, Azerbaijan, Australia, Brazil, and St. Lucia. Hess is also active in the financial markets, through the Hess Energy Trading Company , its trading arm.Hess Corporation is a signatory participant of the Voluntary Principles on Security and Human Rights. Wikipedia.

Lopez-Gamundi O.R.,Hess Corporation
Special Paper of the Geological Society of America | Year: 2010

The Gondwanan Icehouse Period spanned between the mid-Carboniferous and Early Permian waning by the early Late Permian. Early postglacial sea-level rise related to the final stage of the Late Paleozoic Ice Age favored creation of accommodation space with preservation potential for productive anoxia events in the newly inundated shelves and peat-forming conditions favored by rapid water table rise in updip positions in the basin. The combined effect of fast glacioeustatic sea-level rise and subsidence along basin margins led to a drastic landward facies shift; the newly created space was sufficient to accommodate a transgressive systems tract (TST) that, irrespective of the age of the glacial episode, exhibits common characteristics across Gondwana. High fresh-water discharges related to the retreat of glaciers resulted in associated reduction in coastal salinity. Therefore, fjord-like settings as part of early postglacial inland seas seem to be a valid analogue for many of these TSTs. The examples of glacial-postglacial transitions analyzed in this contribution are present in a variety of basin types, namely, those ranging from backarc foreland basins to rifts. In all of them a clear retrogradational stacking pattern is detectable in the transition from glacially dominated settings to glacially influenced early postglacial environments. Examples from South America (Calingasta-Uspallata and Paganzo Basins), South Africa (Karoo Basin), Peninsular India (several Gondwana basins), and eastern Australia (Tasmania Basin) help define two basic types of TSTs: (1) complete TSTs, with a basal part of clast-poor, massive to poorly stratified diamictites, thinly bedded diamictites, shales with ice-rafted debris (IRD) and IRD-free shales, and an upper part dominated by open-marine shales representing the maximum flooding of the shelf; and (2) base-cut TSTs in which the basal transgressive portion is mostly omitted, and the TST is exclusively represented by open-marine shales generally devoid of IRD. Whereas the complete TSTs are common in cases in which high sediment supply rates via rain-out, ice rafting, and settling of fines prevail during the early phase of deglaciation, the base-cut TSTs, on the other end, reflect the dominance of drastic sealevel rises related to fast glacier retreats. © 2010 The Geological Society of America. All rights reserved. Source

Li C.,Hess Corporation | Van Der Hilst R.D.,Massachusetts Institute of Technology
Journal of Geophysical Research: Solid Earth | Year: 2010

Tomographic images of the mantle beneath East Asia were obtained from the inversion of traveltime data from global and regional seismograph networks and from temporary arrays on and around the Tibetan plateau. Our results are consistent with previous studies but the unprecedented resolution of mantle heterogeneity provides new insight into the large-scale tectonic framework of the continental India-Asia collision in the western part of the study region and subduction of the oceanic lithosphere in the east. In the realm of continental collision, west of ∼100E, a relatively slow P-wave speed characterizes the upper mantle beneath much of the Tibetan plateau but the wave speed is high beneath cratonic India, the southern and western part of the Tibetan plateau, Hindu-Kush, and the Tian Shan. In the subduction realm, east of ∼110E, the main structures are (i) pronounced low-wave-speed anomalies at a depth of between 100 and 400 km beneath Asia's southeastern seaboard and the back-arc regions of ongoing subduction; (ii) narrow, fast anomalies in the upper mantle beneath major subduction zones; and (iii) widespread fast anomalies at a depth of 500-700 km beneath the Sea of Japan, the northern part of the Philippine Sea plate, and southeastern China. If the latter anomalies represent stagnant slabs, their fragmented nature and large lateral extent suggest that they are produced by different episodes of subduction beneath western Pacific island arcs, along the old SE margin of Asia, or during the Mesozoic collision of cratonic units in Southeast Asia. Attribution to ancient subduction systems implies that slab fragments can reside in the transition zone for (at least) several tens of millions of years. Shallow, slow anomalies beneath the Red River fault region connect to deep anomalies beneath the South China fold belt and South China Sea, suggesting a causal relationship between the evolution of the continental lithosphere of SW China and deeper mantle processes. Between the collision and the subduction realms, tomography reveals high-wave-speed continental roots beneath the western part of the North China craton (Ordos block) and the South China, or Yangtze, craton (Sichuan Basin) to a depth of ∼300 km. © 2010 by the American Geophysical Union. Source

Wolff M.,Hess Corporation
JPT, Journal of Petroleum Technology | Year: 2010

The use of single-valued assessments of company portfolios and projects continues to decline as the industry accepts that strong subsurface uncertainties dictate an ongoing consideration of ranges of outcomes. Exploration has pioneered the use of probabilistic prospect assessments as being the norm, in both majors and independents. Production has lagged, in part because of the need to comply with US Security and Exchange (SEC) reserves-reporting requirements that drive a conservative deterministic approach. Look-backs continue to show the difficulty of achieving a forecast within an uncertainty band as well as the difficulty of establishing what that band should be. Ongoing challenges include identifying relevant static and dynamic uncertainties, efficiently and reliably determining ranges and dependencies for those uncertainties, incorporating production history (brownfield assessments), and coupling subsurface with operational and economic uncertainties. Despite these challenges, none of which are fully resolved, a systematic approach based on probabilistic principles [often including design-of-experiment (DoE) techniques] provides the best auditable and justifiable means of forecasting projects and presenting decision makers with a suitable range of outcomes to consider. © 2003 - 2009 Society of Petroleum Engineers. Source

Extensional relaxation due to the collapse of the active margin of Gondwanaland during the Triassic led to rapidly subsiding, fault-bounded halfgrabens in west Argentina. The Cuyo rift basin was the largest of these faultbounded troughs. Two linked asymmetrical half-grabens have been identified in the Cuyo basin: Cacheuta in the south and Las Peñas-Tamberías in the north. Their stratigraphy exhibits a classic tripartite internal organization with a basal alluvial and fluvial section followed by a lacustrine interval which in turn is overlain by fluvial deposits. The basin fill in both half-grabens shows significant lateral thickness variations that reflect the contrasting subsidence rates on the fault and flexural margins. The lacustrine shales in the Cacheuta half-graben have an average total organic carbon (TOC) content of 4%, locally reaching 20%, dominated by type I, amorphous, algal organic matter and high hydrogen index (HI) values. The shales are associated with parasequences in river-dominated deltas. Oils derived from these source rocks are waxy and with low sulphur content. The oil shales are associated with sandstones arranged in parasequences deposited in river-dominated Gilberttype deltas. This interval in the Cacheuta half-graben can be assigned to a slightly overfilled to balanced-fill lake type. In Las Peñas-Tamberías, the dominant source rock facies in the lacustrine section is made up of calcareous shales with oil-prone, type I(II) kerogen and TOC values up to 13% and high HI values. The presence of gammacerane and b-carotane, common in saline conditions, is conspicuous. The presence of oolitic and bioclastic grainstones and microstromatolitic limestones on the ramp margin and clastic facies on the border fault suggests a slightly underbalanced to balanced lake type. The Cuyo rift basin branches to the NE into the Ischigualasto-Villa Unión half-graben. Lacustrine shales along the fault margin of this half-graben are dominated by type III, gas-prone organic matter with TOC values up to 4% and low HI values. Parasequences with a strong progradational stacking pattern and steep front slopes are interpreted as mouth bars in a Gilbert-type delta. These characteristics are consistent with an overfilled lake basin type where sedimentation rate exceeds subsidence rate. The Triassic rift system of west Argentina shows the gamut of lacustrine source rocks that, combined with the analysis of diagnostic associated facies, allow the discrimination of lake basin types and their influence in the resulting hydrocarbon phase. © 2010 EAGE/Geological Society of London. Source

Sequence stratigraphy and sequence boundary interpretations for Mississippian Madison stratigraphic units in the greater Williston basin area illustrate some of the challenges for sequence stratigraphy in cratonic carbonate-evaporite depositional systems. Some of the most significant interpretation differences occur in middle Madison strata that correlate with the upper Tournaisian Frobisher-Alida interval in North Dakota which, in the present paper, is considered to represent a thirdorder (2-3 million-year) sequence. Widely published surface studies in Wyoming place a third-order sequence boundary near the base of a regional solution breccia bed that corresponds with the Frobisher-Alida evaporite. In the subsurface, it can be demonstrated that most of the evaporite formed during regressive deposition and a stratal surface near the base of the evaporite is not a viable choice for a third-order sequence boundary. The Frobisher-Alida third-order maximum regressive surface separates underlying regressive deposits from overlying transgressive deposits and it broadly corresponds with conventional sequence boundary placement. This is a subtle surface that may lie either within or on top of the Frobisher-Alida evaporite or solution breccia equivalent. The third-order maximum flooding surface is placed on a widely mappable submarine unconformity that occurs as a sharp contact on an eroded Thalassinoides-burrowed firmground or a breccia-conglomerate lag deposit. This surface separates transgressive deposits from overlying open-marine strata. Fourth-order Frobisher-Alida sequences are defined in landward areas by the cyclic alternation of anhydrite-dominated strata, with dolomitic and siliciclastic marker beds. Both low-magnitude sea-level movements and the paleoclimatic change from a hot, arid climate (anhydritic strata) to a hot, subhumid climate (dolomitic and siliciclastic marker beds) are responsible for the cyclicity. Abrupt sea-level falls sometimes caused exposure that generated local but prominent fourth and fifth-order subaerial erosion surfaces. In this setting, caution should be employed if subaerial erosion is used to indicate the location of a third-order sequence boundary. Source

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