Hess Corporation is one of the leading global exploration and production companies. The company began as a simple trucking company and has since expanded to include operations around the globe on both sea and land. The company currently has a large presence in the Gulf of Mexico through various deepwater operations.
History and Company Operations
The first beginnings of the Hess Corporation were in 1933 when Leon Hess formed Hess Incorporated at the age of 19, purchasing a 1926 second hand delivery truck to begin residential deliveries. He made the insightful decision 4 years later to expand his business to include post-refinery residual fuel oil, recognizing the switch in power companies from coal to oil. By 1938, the company had purchased a terminal site with facilities to unload barges, later adding the ability to unload tankers. Mr. Hess applied lessons from World War II to his business in the later 1940s, after he was assigned as a petroleum supply officer.
The company’s first ship was purchased in 1948, a 10,000-ton tanker. Twelve years later, the company opened its first gas station in New Jersey. Two years later, in 1962, the company merged with Cletrac Corporation to become Hess Oil & Chemical Corporation. During the later 1960s, the company expanded its operations to Venezuela, effectively entering the global market. Shortly after, the company drilled its first successful wildcat well in Alaska.
Over the last thirty years, the company (now Hess Corporation) has expanded its deepwater and North Dakota drilling operations and converted to an exploration and production company. The company currently owns a 57 percent interest in the deepwater operations in Tubular Bells and is primed to continue to be successful in its future endeavors. Hess additionally optimized production at the longer running Gulf of Mexico Conger field, increasing production by 26 percent in three months since 2012. Offshore projects take years of planning and development before a rig or platform is ready to be brought online. The company has continued to tout safety procedures as a large concern throughout all of its offshore and onshore operations and has worked to make sure its employees are protected in case of unexpected accidents.
The Malley Law Firm | Houston Maritime Lawyer
If you or a loved one have been injured in an offshore accident, do not hesitate to contact the Malley Law Firm. Tony Malley has years of experience in assisting clients with their maritime injury claims and will work tirelessly to ensure you receive the compensation you deserve for your injuries. Contact our Texas offices today for your initial free consultation.