Form SD - Specialized disclosure report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM SD

SPECIALIZED DISCLOSURE REPORT

HESS CORPORATION

(Exact name of the registrant as specified in its charter)

Delaware

1-1204

13-4921002

(State or other jurisdiction of

incorporation or organization)

(Commission File Number)

(I.R.S. Employer
Identification No.)

1185 Avenue of the Americas

New York, N.Y.

10036

(Address of principal executive offices and zip code)

John P. Rielly

Executive Vice President

and Chief Financial Officer

212-997-8500

(Name and telephone number, including area code, of the person to contact in connection with this report)

Check the appropriate box to indicate the rule pursuant to which this Form is being submitted, and provide the period to which the information in this Form applies:


¨			Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, ______.


ý			Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2023.

Section 2 – Resource Extraction Issuer Disclosure

Item 2.01 Resource Extraction Issuer Disclosure and Report

Disclosure of Payments by Resource Extraction Issuers

The specified payment disclosure required by this Form is included in Exhibit 2.01 to this Form SD. Pursuant to Instruction (1) of Instructions to Item 2.01 of Form SD, Hess Corporation is hereby submitting the required disclosure for Hess Midstream LP, a publicly traded limited partnership and consolidated subsidiary of Hess Corporation.

Section 3 – Exhibits

Item 3.01 Exhibits

The following exhibits are filed as part of this report.


Exhibit number						Description
2.01						Resource Extraction Payment Report
2.01(INS)						XBRL Instance Document
2.01(SCH)						XBRL Schema Document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.



HESS CORPORATION
(Registrant)

By:	/s/ John P. Rielly	Date: September 24, 2024
Name:	John P. Rielly
Title:	Executive Vice President and
	Chief Financial Officer

Exhibit 2.01


Resource Extraction Payment Report

Reporting Entity: Hess Corporation
Reporting Fiscal Year: From 01/01/2023 to 12/31/2023
Reporting Currency: United States Dollar (in thousands)
Business Segment: Exploration and Production (unless otherwise indicated)

Payments by Government
Country / Government	Taxes (a)		Royalties		Fees		Production Entitlements (b)		Bonuses		Dividends		Infrastructure Improvements		Community & Social Responsibility		Total

United States
Office of Natural Resources Revenue	$	—	$	128,608	$	3,921	$	—	$	25,792	$	—	$	—	$	—	$	158,321
Internal Revenue Service (c)	190		—		—		—		—		—		—		—		190
Total United States	$	190	$	128,608	$	3,921	$	—	$	25,792	$	—	$	—	$	—	$	158,511

Malaysia
Inland Revenue Board of Malaysia (d)	$	50,373	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	50,373
Petroliam Nasional Berhad (e)	—		7,925		—		492,521		—		—		—		—		500,446
Total Malaysia	$	50,373	$	7,925	$	—	$	492,521	$	—	$	—	$	—	$	—	$	550,819

Thailand
The Revenue Department (f)	$	18,372	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	18,372

Total Payments to Governments	$	68,935	$	136,533	$	3,921	$	492,521	$	25,792	$	—	$	—	$	—	$	727,702


Payments by Project
	Taxes (a)		Royalties		Fees		Production Entitlements (b)		Bonuses		Dividends		Infrastructure Improvements		Community & Social Responsibility		Total

Projects
Offshore-Gulf of Mexico/Louisiana/Oil/Natural Gas/Well	$	—	$	106,566	$	3,921	$	—	$	25,792	$	—	$	—	$	—	$	136,279
Onshore/North Dakota/Oil/Natural Gas/Well	—		22,042		—		—		—		—		—		—		22,042
Offshore-Gulf of Thailand/Kelantan/Oil/Natural Gas/Well (e)	—		7,925		—		492,521		—		—		—		—		500,446

Entity Level Payments
Hess Infrastructure Partners Holdings, LLC (c)	$	190	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	190
Hess Oil Company of Thailand (JDA), Ltd (f)	32,160		—		—		—		—		—		—		—		32,160
Hess Oil Company of Thailand, Ltd (f)	326		—		—		—		—		—		—		—		326
Hess Exploration and Production Malaysia, BV (d)	36,259		—		—		—		—		—		—		—		36,259

Total Payments by Project	$	68,935	$	136,533	$	3,921	$	492,521	$	25,792	$	—	$	—	$	—	$	727,702

Notes:

In accordance with the Securities and Exchange Commission's (SEC) final rule regarding the "Disclosure of Payments by Resource Extraction Issuers", where we are the operator of an unincorporated oil and gas joint venture or arrangement that we proportionately consolidate, and make payments to governments for the entire venture or arrangement on behalf of non-operator members, we report all of the payments. Where we are not the operator of an unincorporated oil and gas joint venture or arrangement that we proportionately consolidate, we only report payments made directly by us to governments. We do not report reimbursements paid by us to operators for our proportionate share of payments made by the operator to governments.

(a)At the Stabroek Block, offshore Guyana, we have a 30% working interest in the block and ExxonMobil Guyana Ltd is the operator. A portion of gross production from the Stabroek Block, separate from the joint venture partners’ cost recovery and profit share entitlement, is used to satisfy the joint venture partners’ income tax liability. Delivery of this production to the government in satisfaction of the joint venture partners’ income tax liability is administered by ExxonMobil Guyana Ltd. as the operator, and therefore is not included in this report as a payment. Our income tax liability was $433 million for the year ended December 31, 2023.

(b)Production entitlements are paid in-kind. Where we are the operator, we report the host government’s production entitlement along with the production entitlement of nationally owned companies (NOCs) that participate as a joint venture partner in the project. The production entitlement of NOCs that participate as a joint venture partner includes both cost recovery and profit share. Production entitlements are valued at cost, which is calculated using the total unit production cost for the project, comprised of cash operating costs and depreciation, depletion, and amortization expenses, multiplied by the production entitlement volume. Production entitlements of NOCs that participate as a joint venture partner arising from activities or interests outside of their home country are excluded.

(c)Hess Infrastructure Partners Holdings, LLC (HIPH) is an indirect, wholly owned subsidiary of Hess Midstream LP. Hess Midstream LP is a separate SEC registrant, and is fully consolidated in the financial statements of Hess Corporation. Taxes paid by HIPH are included in the Midstream business segment of Hess Corporation.

(d)Taxes paid in Malaysian Ringgit were converted to USD at the exchange rate at the date of payment.

(e)Royalties were paid in Malaysian Ringgit, and the amount reported was converted to USD at the exchange rate at the date of payment.

(f)Taxes paid in Thai Baht were converted to USD at the exchange rate at the date of payment. These taxes arise from our interest in Block A-18 of the Malaysia/Thailand Joint Development Area.

Document Information	12 Months Ended
Document Information	Dec. 31, 2023
Document Information:
Document Type	2.01 SD
Amendment	false
CIK	0000004447
Registrant Name	HESS CORP
Period End Date	Dec. 31, 2023
Reporting Currency	USD

Payments, by Category - USD ($) $ in Thousands	Taxes	Royalties	Fees	Prod. Entitlements	Bonuses	Total Payments
Total	$ 68,935	$ 136,533	$ 3,921	$ 492,521	$ 25,792	$ 727,702

Payments, by Project - 12 months ended Dec. 31, 2023 - USD ($) $ in Thousands	Taxes	Royalties	Fees	Prod. Entitlements	Bonuses	Total Payments
Total	$ 68,935	$ 136,533	$ 3,921	$ 492,521	$ 25,792	$ 727,702
Offshore-Gulf of Mexico/Louisiana/Oil/Natural Gas/Well [Member]
Total		106,566	$ 3,921		$ 25,792	136,279
Onshore/North Dakota/Oil/Natural Gas/Well [Member]
Total		22,042				22,042
Offshore-Gulf of Thailand/Kelantan/Oil/Natural Gas/Well [Member]
Total		$ 7,925		$ 492,521		500,446
Hess Infrastructure Partners Holdings, LLC [Member]
Total	190					190
Hess Oil Company of Thailand (JDA), Ltd [Member]
Total	32,160					32,160
Hess Oil Company of Thailand, Ltd [Member]
Total	326					326
Hess Exploration and Production Malaysia, BV [Member]
Total	$ 36,259					$ 36,259

Payments, by Government - 12 months ended Dec. 31, 2023 - USD ($) $ in Thousands	Taxes	Royalties	Fees	Prod. Entitlements	Bonuses	Total Payments
Total	$ 68,935	$ 136,533	$ 3,921	$ 492,521	$ 25,792	$ 727,702
UNITED STATES
Total	190	128,608	3,921		25,792	158,511
UNITED STATES \| Office of Natural Resources Revenue [Member]
Total		128,608	$ 3,921		$ 25,792	158,321
UNITED STATES \| Internal Revenue Service [Member]
Total	190					190
MALAYSIA
Total	50,373	7,925		492,521		550,819
MALAYSIA \| Inland Revenue Board of Malaysia [Member]
Total	50,373					50,373
MALAYSIA \| Petroliam Nasional Berhad [Member]
Total		$ 7,925		$ 492,521		500,446
THAILAND
Total	18,372					18,372
THAILAND \| The Revenue Department [Member]
Total	$ 18,372					$ 18,372

Payments, Details - 12 months ended Dec. 31, 2023 - USD ($) $ in Thousands	Amount	Type	Country	Subnat. Juris.	Govt.	Project	Resource	Segment	Ext. Method	In-kind	In-kind Calc.
#: 1
	$ 190	Taxes	UNITED STATES		Internal Revenue Service [Member]		Oil and Natural Gas [Member]	Midstream [Member]	Well
#: 2
	106,566	Royalties	UNITED STATES	snj:US-LA	Office of Natural Resources Revenue [Member]	Offshore-Gulf of Mexico/Louisiana/Oil/Natural Gas/Well [Member]	Oil and Natural Gas [Member]	Exploration and Production [Member]	Well
#: 3
	22,042	Royalties	UNITED STATES	snj:US-ND	Office of Natural Resources Revenue [Member]	Onshore/North Dakota/Oil/Natural Gas/Well [Member]	Oil and Natural Gas [Member]	Exploration and Production [Member]	Well
#: 4
	3,921	Fees	UNITED STATES	snj:US-LA	Office of Natural Resources Revenue [Member]	Offshore-Gulf of Mexico/Louisiana/Oil/Natural Gas/Well [Member]	Oil and Natural Gas [Member]	Exploration and Production [Member]	Well
#: 5
	25,792	Bonuses	UNITED STATES	snj:US-LA	Office of Natural Resources Revenue [Member]	Offshore-Gulf of Mexico/Louisiana/Oil/Natural Gas/Well [Member]	Oil and Natural Gas [Member]	Exploration and Production [Member]	Well
#: 6
	50,373	Taxes	MALAYSIA		Inland Revenue Board of Malaysia [Member]		Oil and Natural Gas [Member]	Exploration and Production [Member]	Well
#: 7
	7,925	Royalties	MALAYSIA	snj:MY-03	Petroliam Nasional Berhad [Member]	Offshore-Gulf of Thailand/Kelantan/Oil/Natural Gas/Well [Member]	Oil and Natural Gas [Member]	Exploration and Production [Member]	Well
#: 8
	492,521	Prod. Entitlements	MALAYSIA	snj:MY-03	Petroliam Nasional Berhad [Member]	Offshore-Gulf of Thailand/Kelantan/Oil/Natural Gas/Well [Member]	Oil and Natural Gas [Member]	Exploration and Production [Member]	Well	Yes	Production entitlements are valued at cost, which is calculated using the total unit production cost for the project, comprised of cash operating costs and depreciation, depletion, and amortization expenses, multiplied by the production entitlement volume.
#: 9
	$ 18,372	Taxes	THAILAND		The Revenue Department [Member]		Oil and Natural Gas [Member]	Exploration and Production [Member]	Well