Amerada Hess Reports Second Quarter Results.

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07/25/2000

New York, New York....July 25, 2000....Amerada Hess Corporation reported operating earnings of $202 million for the second quarter of 2000 compared with earnings of $37 million for the second quarter of 1999. Operating earnings in the first half of 2000 were $426 million compared with earnings of $78 million in the first half of 1999.

The after-tax results by major operating activity for the three and six month periods ended June 30, 2000 and 1999 were as follows (in millions, except per share amounts):

	June 30 (Unaudited)		June 30 (Unaudited)
	Three Months Ended		Six Months Ended
	2000	1999	2000	1999
Exploration and Production	$178	$ 51	$396	$ 78
Refining, Marketing and Shipping	64	19	112	72
Corporate	(10)	(5)	(22)	(15)
Interest Expense	(30)	(28)	(60)	(57)
Operating Earnings	202	37	426	78
Gain on Asset Sales	-	40	-	70
Net Income	$202	$ 77	$426	$ 148
Net Income Per Share	$2.24	$ .86	$4.71	$1.65

The Corporation's average worldwide crude oil selling price in the second quarter of 2000 was approximately $24.25 per barrel, an increase of $9.25 from the second quarter of 1999. The Corporation's oil and gas production, on a barrel-of-oil equivalent basis, was 362,000 barrels per day in the second quarter of 2000, an increase of 19% over the second quarter of 1999.

Increased refining, marketing and shipping results in the second quarter of 2000, compared with the second quarter of 1999, reflect improved refining margins.

The net gain from asset sales in the second quarter of 1999 represents the sale of Southeast pipeline storage terminals and certain retail sites in South Carolina.

Sales and other operating revenues amounted to $2,644 million in the second quarter of 2000 compared with $1,430 million in the second quarter of 1999. The increase principally reflects significantly higher crude oil and refined product selling prices.

Capital expenditures in the second quarter of 2000 were $243 million of which $194 million related to exploration and production activities. Capital expenditures in the second quarter of 1999 amounted to $219 million including $198 million for exploration and production.

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

	Three Months Ended June 30		Six Months Ended June 30
	2000	1999	2000	1999
Sales and other operating revenues	$2,644	$1,430	$5,475	$2,969
Net income	$202	$77(a)	$426	$148(a)
Net income per share (diluted)	$2.24	$.86(a)	$4.71	$1.65(a)
Weighted average number of shares	90.5	90.1	90.5	90.0

(a)Includes gains on asset sales of $40 million ($.45 per share) and $70 million ($.78 per share) in the second quarter and first half of 1999, respectively.

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

INCOME STATEMENT

Second
Quarter
2000

Second
Quarter
1999

First
Quarter
2000

REVENUES

Sales and other operating revenues

$2,644

$1,430

$2,831

Non-operating income

Gain on asset sales

Equity in income of
HOVENSA L.L.C.

Other

Total revenues

2,714

1,534

2,870

COSTS AND EXPENSES

Cost of products sold

1,717

865

1,875

Production expenses

129

133

Marketing expenses

122

106

Other operating expenses

Exploration expenses, including dry holes and lease impairment

General and administrative expenses

Interest expense

Depreciation, depletion and amortization

167

136

174

Total costs and expenses

2,366

1,424

2,496

Income before income taxes

348

110

374

Provision for income taxes

146

150

NET INCOME

$202

$77

$224

CASH FLOW FROM OPERATIONS (*)

$437

$178

$455

CAPITAL EXPENDITURES

Exploration and production

$194

$198

$127

Refining, marketing and shipping

Total capital expenditures

$243

$219

$162

AT END OF PERIOD

Total debt

$2,114

$2,696

$2,041

Working capital

$294

$206

$251

Stockholders' equity

$3,408

$2,768

$3,250

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

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

First Half
2000

First Half
1999

INCOME STATEMENT

REVENUES

Sales and other operating revenues

5,475

2,969

Non-operating income

Gain on asset sales

- -

108

Equity in income of HOVENSA L.L.C.

Other

Total revenues

5,584

3,186

COSTS AND EXPENSES

Cost of products sold

3,592

1,863

Production expenses

262

216

Marketing expenses

228

180

Other operating expenses

108

116

Exploration expenses, including dry holes and lease impairment

152

141

General and administrative expenses

102

114

Interest expense

Depreciation, depletion and amortization

341

275

Total costs and expenses

4,862

2,982

Income before income taxes

722

204

Provision for income taxes

296

NET INCOME

426

148

CASH FLOW FROM OPERATIONS (*)

892

318

CAPITAL EXPENDITURES

Exploration and production

321

383

Refining, marketing and shipping

Total capital expenditures

405

420

(*) Net income adjusted for depreciation and amortization, 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			Second Quarter 2000	Second Quarter 1999	First Quarter 2000
NET PRODUCTION PER DAY
	Crude oil - barrels
		United States	55	55	52
		United Kingdom	112	90	112
		Norway	27	25	23
		Denmark	19	- -	30
		Gabon	7	11	9
		Indonesia and Azerbaijan	7	4	6

		Total	227	185	232

	Natural gas liquids - barrels
		United States	12	8	13
		United Kingdom	7	7	6
		Norway	2	1	2
		Thailand	1	- -	2

		Total	22	16	23

	Natural gas - mcf
		United States	298	329	294
		United Kingdom	299	245	345
		Norway	24	32	26
		Denmark	25	- -	35
		Indonesia and Thailand	33	3	36

		Total	679	609	736

	Barrels of oil equivalent		362	303	378

AVERAGE SELLING PRICE
	Crude oil - per barrel
		United States	$24.46	$14.78	$22.58
		Foreign	24.09	15.08	25.65
	Natural gas liquids- per barrel
		United States	$18.69	$10.31	$20.87
		Foreign	20.64	10.90	22.61
	Natural gas - per mcf
		United States	$3.37	$2.06	$2.40
		Foreign	2.10	1.72	2.08

MARKETING AND REFINING
	BARRELS PER DAY
	Refined products sold		352	315	402
	Refinery runs (net)		223	222	200

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

OPERATING DATA				First Half 2000	First Half 1999
NET PRODUCTION PER DAY
		Crude oil - barrels
			United States	53	51
			United Kingdom	112	106
			Norway	25	25
			Denmark	25	--
			Gabon	8	11
			Indonesia and Azerbaijan	7	4

			Total	230	197

		Natural gas liquids - barrels
			United States	13	7
			United Kingdom	6	7
			Norway	2	1
			Thailand	1	--

			Total	22	15

		Natural gas - mcf
			United States	296	334
			United Kingdom	322	253
			Norway	25	31
			Denmark	29	--
			Indonesia and Thailand	35	3

			Total	707	621

		Barrels of oil equivalent		370	316

	AVERAGE SELLING PRICE
		Crude oil - per barrel
			United States	$23.55	$ 12.90
			Foreign	24.89	13.00
		Natural gas liquids - per barrel
			United States	$ 19.84	$ 9.51
			Foreign	21.60	10.13
		Natural gas - per mcf
			United States	$ 2.90	$ 1.91
			Foreign	2.09	1.87

	MARKETING AND REFINING
		BARRELS PER DAY
		Refined products sold		377	356
		Refinery runs (net)		212	222

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

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