Amerada Hess Reports First Quarter Results

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04/25/2000

New York, New York....April 25, 2000...Amerada Hess Corporation reported operating earnings of $224 million for the first quarter of 2000 compared with earnings of $41 million for the first quarter of 1999.

The after-tax results by major operating activity for the first quarters of 2000 and 1999 were as follows (in millions, except per share amounts):

	March 31 (Unaudited)
	Three Months Ended
	2000	1999
Exploration and Production	$218	$ 27
Refining, Marketing and Shipping	48	53
Corporate	(12)	(10)
Interest Expense	(30)	(29)
Operating Earnings	224	41
Gain on Asset Sale	-	30
Net Income	$224	$ 71
Net Income Per Share	$2.47	$ .79

The Corporation's average worldwide crude oil selling price in the first quarter of 2000 was approximately $24.50 per barrel, an increase of $13.50 from the first quarter of 1999. The Corporation's oil and gas production, on a barrel-of-oil equivalent basis, was 377,700 barrels per day in the first quarter of 2000, an increase of 15% over the first quarter of 1999.

Refining, marketing and shipping results in the first quarter of 2000 include increased earnings from energy marketing activities, due primarily to the cold winter in the Corporation's marketing area. However, lower refining earnings, reduced retail gasoline margins and lower trading results caused first quarter 2000 refining and marketing earnings to be below those of the comparable period of 1999.

Sales and other operating revenues amounted to $2,831 million in the first quarter of 2000 compared with $1,539 million in the first quarter of 1999, reflecting significantly higher crude oil and refined product selling prices. Capital expenditures in the first quarter of 2000 were $162 million of which $127 million related to exploration and production activities. Capital expenditures in the first quarter of 1999 amounted to $201 million including $185 million for exploration and production.

Consolidated Financial Highlights (Unaudited)
(in millions, except per share amounts)

	Three Months Ended March 31
	2000	1999
Sales and other operating revenues	$2,831	$1,539
Net income	$224	$71(a)
Net income per share (diluted)	$2.47	$.79(a)
Weighted average number of shares	90.5	89.9

(a)Includes a gain from asset sales of $30 million ($.33 per share).

Amerada Hess Corporation and Consolidated Subsidiaries
Supplemental Financial Data
(unaudited - in millions)

INCOME STATEMENT

First
Quarter
2000

First
Quarter
1999

Fourth
Quarter
1999

REVENUES

Sales and other operating revenues

$2,831

$1,539

$2,269

Non-operating income

Gain on asset sales

Equity in income (loss) of
HOVENSA L.L.C.

(17)

Other

Total revenues

2,870

1,653

2,307

COSTS AND EXPENSES

Cost of products sold

1,875

999

1,306

Production expenses

133

118

169

Marketing expenses

106

100

Other operating expenses

Exploration expenses, including dry holes and lease impairment

General and administrative expenses

Interest expense

Depreciation, depletion and amortization

174

138

215

Asset impairment

128

Total costs and expenses

2,496

1,558

2,130

Income before income taxes

374

177

Provision for income taxes

150

NET INCOME

$224

$71

$131

CASH FLOW FROM OPERATIONS (*)

$454

$140

$553

CAPITAL EXPENDITURES

Exploration and production

$127

$185

$167

Refining, marketing and shipping

Total capital expenditures

$162

$201

$179

AT END OF PERIOD

Total debt

$2,041

$2,686

$2,310

Working capital

$251

$163

$249

Stockholders' equity

$3,250

$2,694

$3,038

(*) Net income adjusted for depreciation and amortization, impairment, exploratory dry holes, deferred income taxes, undistributed earnings in affiliates and gain on asset sales.

Amerada Hess Corporation and Consolidated Subsidiaries
Supplemental Operating Data
(in thousands, except for average selling prices)

OPERATING DATA			First Quarter 2000	First Quarter 1999	Fourth Quarter 1999
NET PRODUCTION PER DAY
	Crude oil and natural gas liquids - barrels
		United States	66	53	73
		United Kingdom	118	129	130
		Norway	25	27	27
		Denmark	30	- -	23
		Gabon	8	11	9
		Indonesia, Azerbaijan and Thailand	8	4	8

		Total	255	224	270

	Natural gas - mcf
		United States	294	339	338
		United Kingdom	345	262	306
		Norway	26	29	30
		Denmark	35	- -	11
		Indonesia and Thailand	36	3	34

		Total	736	633	719

	Barrels of oil equivalent		378	330	390

AVERAGE SELLING PRICE
	Crude oil and natural gas liquids - per barrel
		United States	$22.23	$10.35	$20.26
		Foreign	25.51	11.21	23.84
	Natural gas - per mcf
		United States	$2.40	$1.76	$2.34
		Foreign	2.08	2.08	1.85

MARKETING AND REFINING
	BARRELS PER DAY
	Refined products sold		402	397	355
	Refinery runs (net)		200	222	194

Contact: Amerada Hess Corporation- C.T. Tursi (212) 536-8593

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