Hess 2008 Annual Report Download - page 60

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Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
Hess Corporation
We have audited the accompanying consolidated balance sheet of Hess Corporation and consolidated
subsidiaries as of December 31, 2008 and 2007, and the related statements of consolidated income, cash flows,
stockholders’ equity and comprehensive income for each of the three years in the period ended December 31, 2008.
Our audits also included the Financial Statement Schedule listed in the Index at Item 8. These financial statements
and schedule are the responsibility of the Corporation’s management. Our responsibility is to express an opinion on
these financial statements and schedule based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
consolidated financial position of Hess Corporation and consolidated subsidiaries at December 31, 2008 and
2007, and the consolidated results of their operations and their cash flows for each of the three years in the period
ended December 31, 2008, in conformity with U.S. generally accepted accounting principles. Also, in our opinion,
the related Financial Statement Schedule, when considered in relation to the consolidated financial statements taken
as a whole, presents fairly in all material respects, the information set forth therein.
As discussed in Note 1 to the consolidated financial statements, the Corporation adopted FASB Interpretation
No. 48, Accounting for Uncertainty in Income Taxes, effective January 1, 2007.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board
(United States), Hess Corporation’s internal control over financial reporting as of December 31, 2008, based on
criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission and our report dated February 20, 2009 expressed an unqualified
opinion thereon.
February 20, 2009
New York, New York
44