Hess 2004 Annual Report Download

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2004 ANNUAL REPORT

Table of contents

  • Page 1
    2004 ANNUAL REPORT

  • Page 2
    TABLE OF CONTENTS: Financial Highlights Letter to Stockholders Review of Operations Board of Directors and Corporate Officers 1 2 4 12 Cover: Joint Development Area, Malaysia/Thailand

  • Page 3
    ... 5,340 42.5% Debt to capitalization ratio(a) OPERATING - FOR THE YEAR Production - net Crude oil and natural gas liquids - thousands of barrels per day United States Foreign Total Natural gas - thousands of Mcf per day United States Foreign Total Barrels of oil equivalent - thousands of barrels per...

  • Page 4
    ... and financial flexibility. 2004 HIGHLIGHTS • Net income was $977 million, the second highest in the Corporation's history. Exploration and production earned $755 million, while refining and marketing contributed $451 million. • Worldwide oil and natural gas production averaged 342,000 barrels...

  • Page 5
    ... the Corporation. We will miss his sound advice and invaluable contributions. In June, Dr. Risa Lavizzo-Mourey was elected a new member of our Board of Directors. She is President and Chief Executive Officer of the Robert Wood Johnson Foundation and brings important experience in business and social...

  • Page 6
    REVIEW OF OPERATIONS Gassi El Agreb, Algeria

  • Page 7
    ... in the Permian Basin. In 2004, the Corporation continued development of the residual oil zone, which is one of several opportunities that will be pursued in the area over the next several years. In North Dakota, Amerada Hess is the leading oil producer. Production levels have been maintained over...

  • Page 8
    ...the United Kingdom, commercial agreements associated with the Atlantic (AHC 25%) and Cromarty (AHC 90%) gas fields were completed. First production is expected in early 2006. Combined net production from EXPLORATION In the deepwater Gulf of Mexico, successful appraisal drilling was conducted on the...

  • Page 9
    Drilling operations, Llano Field, Gulf of Mexico

  • Page 10
    HESS EXPRESS, Walt Disney World, Florida

  • Page 11
    ...and benefited from strong product margins in 2004. Delayed Coking Unit, St. Croix, Virgin Islands. The Corporation has entered into a long-term partnership agreement with Walt Disney World in Orlando, Florida. HESS has been designated "Official Fuel Supplier" of Walt Disney World and has taken over...

  • Page 12
    Hess supported community center and school in Thailand

  • Page 13
    ...as assistance in dealing with the consequences of destructive hurricanes that impacted Florida. In 2004, we also affirmed our support of international voluntary programs addressing the critical issues of human rights, environmental protection and respect for the rule of law. Hess supported school in...

  • Page 14
    ...Worldwide Exploration & Production Thomas H. Kean (1) (3) (4) J. Barclay Collins II Executive Vice President and General Counsel President, Drew University; Former Governor State of New Jersey Frank A. Olson (2) (3) Former Chairman of the Board and Chief Executive Officer, The Hertz Corporation...

  • Page 15
    ... OPERATING OFFICES Exploration and Production Amerada Hess Corporation One Allen Center 500 Dallas Street Houston, Texas 77002 Amerada Hess Limited 33 Grosvenor Place London SW1X 7HY England Registrar The Bank of New York Shareholder Relations Department-11E P.O. Box 11258 New York, New York 10286...

  • Page 16
    AMERADA HESS CORPORATION 1185 Avenue of the Americas New York, New York 10036 http://www.hess.com