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Document and Entity Information - USD ($)	3 Months Ended
Document and Entity Information - USD ($)	Mar. 31, 2011	Jun. 30, 2010
Document and Entity Information [Abstract]
Entity Registrant Name	HESS CORP
Entity Central Index Key	0000004447
Document Type	10-Q
Document Period End Date	Mar. 31, 2011
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float		$ 14,497,000,000
Entity Common Stock, Shares Outstanding (actual number)	339,747,215

Statement of Consolidated Income (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
REVENUES AND NON-OPERATING INCOME
Sales (excluding excise taxes) and other operating revenues	$ 10,215	$ 9,259
Income (loss) from equity investment in HOVENSA L.L.C.	(48)	(85)
Other, net	348	46
Total revenues and non-operating income	10,515	9,220
COSTS AND EXPENSES
Cost of products sold (excluding items shown separately below)	7,040	6,540
Production expenses	531	477
Marketing expenses	283	253
Exploration expenses, including dry holes and lease impairment	313	151
Other operating expenses	42	52
General and administrative expenses	164	155
Interest expense	99	84
Depreciation, depletion and amortization	558	542
Total costs and expenses	9,030	8,254
INCOME BEFORE INCOME TAXES	1,485	966
Provision for income taxes	511	398
NET INCOME	974	568
Less: Net income attributable to noncontrolling interests	45	30
NET INCOME ATTRIBUTABLE TO HESS CORPORATION	$ 929	$ 538
NET INCOME PER SHARE ATTRIBUTABLE TO HESS CORPORATION
BASIC	$ 2.77	$ 1.66
DILUTED	$ 2.74	$ 1.65
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (DILUTED)	339,159	326,956
COMMON STOCK DIVIDENDS PER SHARE	$ 0.10	$ 0.10

Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Mar. 31, 2011	Dec. 31, 2010
CURRENT ASSETS
Cash and cash equivalents	$ 1,968	$ 1,608
Accounts receivable
Trade	4,917	4,478
Other	240	240
Inventories	1,552	1,452
Other current assets	759	1,002
Total current assets	9,436	8,780
Investments in Affiliates	446	443
PROPERTY, PLANT AND EQUIPMENT
Total - at cost	37,032	35,703
Less reserves for depreciation, depletion, amortization and lease impairment	15,273	14,576
Property, plant and equipment - net	21,759	21,127
GOODWILL	2,394	2,408
DEFERRED INCOME TAXES	2,123	2,167
OTHER ASSETS	479	471
TOTAL ASSETS	36,637	35,396
CURRENT LIABILITIES
Accounts payable	4,304	4,274
Accrued liabilities	2,099	2,567
Taxes payable	913	726
Short-term debt and current maturities of long-term debt	35	46
Total current liabilities	7,351	7,613
LONG-TERM DEBT	5,517	5,537
DEFERRED INCOME TAXES	3,210	2,995
ASSET RETIREMENT OBLIGATIONS	1,228	1,203
OTHER LIABILITIES AND DEFERRED CREDITS	1,214	1,239
Total liabilities	18,520	18,587
Hess Corporation Stockholders' Equity
Common stock, par value $1.00 Authorized - 600,000 shares Issued - 339,747 shares at March 31, 2011; 337,681 shares at December 31, 2010	340	338
Capital in excess of par value	3,331	3,256
Retained earnings	15,151	14,254
Accumulated other comprehensive income (loss)	(873)	(1,159)
Total Hess Corporation stockholders' equity	17,949	16,689
Noncontrolling interests	168	120
Total equity	18,117	16,809
TOTAL LIABILITIES AND EQUITY	$ 36,637	$ 35,396

Consolidated Balance Sheet (Unaudited) (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2011	Dec. 31, 2010
Hess Corporation Stockholders' Equity
Common stock, par value	$ 1.00	$ 1.00
Common stock, shares authorized	600,000	600,000
Common stock, shares issued	339,747	337,681

Statement of Consolidated Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 974	$ 568
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, depletion and amortization	558	542
Exploratory dry hole costs and lease impairment	208	77
Provision (benefit) for deferred income taxes	(5)	19
(Income) loss from equity investment in HOVENSA L.L.C.	48	85
Gains on asset sales	(343)	(58)
Stock compensation expense	20	24
Changes in operating assets and liabilities and other	(325)	(432)
Net cash provided by operating activities	1,135	825
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(1,082)	(788)
Proceeds from asset sales	359	183
Other, net	(11)	(17)
Net cash (used in) investing activities	(734)	(622)
Debt with maturities of greater than 90 days
Borrowings	4	0
Repayments	(35)	(142)
Cash dividends paid	(68)	(66)
Other, net	58	13
Net cash (used in) financing activities	(41)	(195)
NET INCREASE IN CASH AND CASH EQUIVALENTS	360	8
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	1,608	1,362
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 1,968	$ 1,370

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2011
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation The financial statements included in this report reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of Hess Corporation’s (the Corporation) consolidated financial position at March 31, 2011 and December 31, 2010 and the consolidated results of operations and cash flows for the three month periods ended March 31, 2011 and 2010. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. The financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by U.S. generally accepted accounting principles (GAAP) have been condensed or omitted from these interim financial statements. These statements, therefore, should be read in conjunction with the consolidated financial statements and related notes included in the Corporation’s Form 10-K for the year ended December 31, 2010. Certain information in the financial statements and notes has been reclassified to conform to the current period presentation.

Libyan Operations	3 Months Ended
Libyan Operations	Mar. 31, 2011
Libyan Operations [Abstract]
Libyan Operations	2. Libyan Operations In response to civil unrest in Libya, a number of measures were taken by the international community, including the imposition of sanctions by the United States, the United Nations, the United Kingdom and the European Union. The sanctions blocked and froze the assets of, and any payments to, the Libyan government and any entities owned or controlled by the Libyan government, as well as designated entities and individuals. As a consequence of the civil unrest and the sanctions, the Corporation delivered force majeure notices to the Libyan government relating to the agreements covering its exploration and production interests in order to protect its rights while it is temporarily prevented from fulfilling its obligations and benefiting from the rights granted by those agreements. Because of the on-going events, including the sanctions, the Corporation is unable to determine when or if it will resume operations in Libya. Libyan production averaged 23,000 barrels of oil equivalent per day (boepd) for the full year of 2010 and 14,000 boepd for the first quarter of 2011. The Corporation had proved reserves of 167 million barrels of oil equivalent at December 31, 2010. At March 31, 2011, the net book value of the Corporation’s exploration and production assets in Libya was approximately $400 million.

Inventories

3 Months Ended

Mar. 31, 2011

Inventory [Abstract]

Inventories

3. Inventories

Inventories consist of the following:


	March 31,			December 31,
	2011			2010
	(Millions of dollars)
Crude oil and other charge stocks	$	538		$	496
Refined products and natural gas		1,829			1,528
Less: LIFO adjustment		(1,244	)		(995	)

		1,123			1,029
Merchandise, materials and supplies		429			423

Total inventories	$	1,552		$	1,452

Refining Joint Venture

3 Months Ended

Mar. 31, 2011

Refining Joint Venture [Abstract]

Refining Joint Venture

4. Refining Joint Venture

The Corporation accounts for its investment in HOVENSA L.L.C. (HOVENSA), which is included in Investments in affiliates in the Consolidated Balance Sheet, using the equity method. Summarized financial information for HOVENSA follows:


	March 31,			December 31,
	2011			2010
	(Millions of dollars)
Summarized balance sheet
Cash and cash equivalents	$	52		$	45
Other current assets		528			668
Net fixed assets		1,969			1,987
Other assets		26			27
Current liabilities		(999	)		(1,001	)
Long-term debt		(655	)		(706	)
Deferred liabilities and credits		(136	)		(135	)

Members’ equity	$	785		$	885

Carrying value of Hess Corporation’s equity investment	$	111		$	158


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Summarized income statement
Total revenues	$	2,862		$	2,766
Cost and expenses		(2,962	)		(2,934	)

Net income (loss)	$	(100	)	$	(168	)

Hess Corporation’s share, before income taxes (*)	$	(51	)	$	(85	)


(*)		The Corporation also recorded a benefit of $3 million in the first quarter of 2011 from the amortization of the basis difference between the carrying value of the Corporation’s investment in HOVENSA and its equity in the net assets of the affiliate.

Acquisitions and Divestitures	3 Months Ended
Acquisitions and Divestitures	Mar. 31, 2011
Acquisitions and Divestitures [Abstract]
Acquisitions and Divestitures	5. Acquisitions and Divestitures In February 2011, the Corporation completed the sale of its interests in the Easington Catchment Area (Hess 30%), the Bacton Area (Hess 23%), the Everest Field (Hess 19%) and the Lomond Field (Hess 17%) in the United Kingdom North Sea for cash proceeds of $359 million, after closing adjustments. These disposals resulted in a pre-tax gain of $343 million ($310 million after income taxes), which has been included in Other, net in the Statement of Consolidated Income. The total combined net book value of the disposed assets prior to the sale was $16 million, including allocated goodwill of $14 million.

Capitalized Exploratory Well Costs

3 Months Ended

Mar. 31, 2011

Capitalized Exploratory Well Costs [Abstract]

Capitalized Exploratory Well Costs

6. Capitalized Exploratory Well Costs

The following table discloses the net changes in capitalized exploratory well costs pending determination of proved reserves for the three months ended March 31, 2011 (in millions):


Balance at January 1	$	1,783
Additions to capitalized exploratory well costs pending the determination of proved reserves		183
Reclassification to wells, facilities, and equipment based on the determination of proved reserves		(22	)
Capitalized exploratory well costs charged to expense		(69	)
Dispositions		(11	)

Balance at end of period	$	1,864

Capitalized exploratory well costs charged to expense in the preceding table excludes $68 million of exploratory well costs which were incurred and subsequently expensed in 2011. Capitalized exploratory well costs greater than one year old after completion of drilling were $1,278 million at March 31, 2011. Approximately 48% of the capitalized well costs in excess of one year relates to two separate projects in the deepwater Gulf of Mexico, Pony and Tubular Bells, where development planning is progressing, with sanction anticipated in 2011 for Tubular Bells and 2012 for Pony. Approximately 21% relates to Area 54 offshore Libya where force majeure has been declared following the imposition of sanctions against Libya. Approximately 18% relates to Block WA-390-P offshore Western Australia where further drilling, other appraisal activities and commercial analysis are ongoing. The remainder of the capitalized well costs in excess of one year relates to projects where further drilling is planned or development planning and other assessment activities are ongoing to determine the economic and operating viability of the projects.

Foreign Currency

3 Months Ended

Mar. 31, 2011

Foreign Currency [Abstract]

Foreign Currency

7. Foreign Currency

Pre-tax foreign currency gains (losses) amounted to the following:


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Pre-tax foreign currency gains (losses)	$	(1	)	$	(6	)

Retirement Plans

3 Months Ended

Mar. 31, 2011

Retirement Plans [Abstract]

Retirement Plans

8. Retirement Plans

Components of net periodic pension cost consisted of the following:


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Service cost	$	14		$	12
Interest cost		22			22
Expected return on plan assets		(27	)		(21	)
Amortization of net loss		11			12

Pension expense	$	20		$	25

In 2011, the Corporation expects to contribute approximately $190 million to its pension plans. Through March 31, 2011, the Corporation had contributed approximately $65 million to its pension plans.

Risk Management and Trading Activities

3 Months Ended

Mar. 31, 2011

Risk Management and Trading Activities [Abstract]

Risk Management and Trading Activities

9. Risk Management and Trading Activities

In the normal course of its business, the Corporation is exposed to commodity risks related to changes in the prices of crude oil, natural gas, refined products and electricity, as well as to changes in interest rates and foreign currency values. In the disclosures that follow risk management activities are referred to as energy marketing and corporate risk management activities. The Corporation also has trading operations, principally through a 50% voting interest in a consolidated partnership, that trades energy-related commodities, securities and derivatives. These activities are also exposed to commodity price risks primarily related to the prices of crude oil, natural gas, electricity and refined products.

Following is a description of the Corporation’s activities that use derivatives as part of their operations and strategies. Derivatives include both financial instruments and forward purchase and sale contracts. Gross notional amounts of both long and short positions are presented in the volume tables below. These amounts include long and short positions that offset in closed positions and have not reached contractual maturity. Gross notional amounts do not quantify risk or represent assets or liabilities of the Corporation, but are used in the calculation of cash settlements under the contracts.

Energy Marketing Activities: In its energy marketing activities the Corporation sells refined petroleum products, natural gas and electricity principally to commercial and industrial businesses at fixed and floating prices for varying periods of time. Commodity contracts such as futures, forwards, swaps and options, together with physical assets such as storage and pipeline capacity, are used to obtain supply and reduce margin volatility or lower costs related to sales contracts with customers.

The table below shows the gross volume of the Corporation’s energy marketing commodity contracts outstanding:


	March 31,		December 31,
	2011		2010
Commodity Contracts
Crude oil and refined products (millions of barrels)		41		30
Natural gas (millions of mcf)		2,150		2,210
Electricity (millions of megawatt hours)		291		301

The changes in fair value of certain energy marketing commodity contracts that are not designated as hedges are recognized currently in earnings. Revenues from the sales contracts are recognized in Sales and other operating revenues, while supply contract purchases and net settlements from financial derivatives related to these energy marketing activities are recognized in Cost of products sold. Net realized and unrealized pre-tax gains (losses) on derivative contracts not designated as hedges amounted to $(3) million and $74 million for the three months ended March 31, 2011 and 2010, respectively.

At March 31, 2011, a portion of energy marketing commodity contracts are designated as cash flow hedges to hedge variability of expected future cash flows of forecasted supply transactions. The length of time over which the Corporation hedges exposure to variability in future cash flows is predominantly 2 years or less. For contracts outstanding at March 31, 2011, the maximum duration was approximately 3 years. The Corporation records the effective portion of changes in the fair value of cash flow hedges as a component of Other comprehensive income. Amounts recorded in Accumulated other comprehensive income are reclassified into Cost of products sold in the same period that the hedged item is recognized in earnings. The ineffective portion of changes in fair value of cash flow hedges is recognized immediately in Cost of products sold.

At March 31, 2011, the after-tax deferred losses relating to energy marketing activities recorded in Accumulated other comprehensive income were $124 million ($147 million at December 31, 2010). The Corporation estimates that approximately $84 million of this amount will be reclassified into earnings over the next twelve months. During the three months ended March 31, 2011 and 2010, the Corporation reclassified after-tax losses from Accumulated other comprehensive income of $20 million and $91 million, respectively. The after-tax amount of loss from hedge ineffectiveness reflected in earnings was $2 million and $1 million for the three months ended March 31, 2011 and 2010, respectively. The fair value of energy marketing cash flow hedge positions increased by $2 million and decreased by $226 million for the three months ended March 31, 2011 and 2010, respectively.

Corporate Risk Management: Corporate risk management activities include transactions designed to reduce risk in the selling prices of crude oil, refined products or natural gas produced by the Corporation or to reduce exposure to foreign currency or interest rate movements. Generally, futures, swaps or option strategies may be used to fix the forward selling price of a portion of the Corporation’s crude oil, refined products or natural gas production. Forward contracts may also be used to purchase certain currencies in which the Corporation does business with the intent of reducing exposure to foreign currency fluctuations. These forward contracts comprise various currencies including the British Pound and Thai Baht. Interest rate swaps may be used to convert interest payments on certain long-term debt from fixed to floating rates.

The table below shows the gross volume of the Corporate risk management derivative instruments outstanding:


	March 31,		December 31,
	2011		2010
Commodity contracts, primarily crude oil (millions of barrels)		31		35
Foreign exchange contracts (millions of U.S. Dollars)		861		1,025
Interest rate swap contracts (millions of U.S. Dollars)		310		310

During 2008, the Corporation closed Brent crude oil cash flow hedges covering 24,000 barrels per day through 2012, by entering into offsetting contracts with the same counterparty. As a result, the valuation of those contracts is no longer subject to change due to price fluctuations. There were no other open hedges of crude oil or natural gas production at March 31, 2011. Hedging activities decreased Exploration and Production Sales and other operating revenues by $128 million and $131 million ($81 million and $83 million after-tax, respectively) for the three months ended March 31, 2011 and 2010, respectively. Hedging activities decreased Sales and other operating revenues by $533 million for the year ended December 31, 2010 ($338 million after-taxes).

At March 31, 2011, the after-tax deferred losses in Accumulated other comprehensive income relating to the closed Brent crude oil hedges were $562 million ($638 million at December 31, 2010). The Corporation estimates that approximately $325 million of this amount will be reclassified into earnings over the next twelve months.

At March 31, 2011, the Corporation had interest rate swaps with a gross notional amount of $310 million, which were designated as fair value hedges. Changes in fair value of interest rate swaps and the hedged fixed-rate debt are recorded in Interest expense. During the three months ended March 31, 2011 and 2010, the Corporation recorded a decrease of $2 million and an increase of $1 million (excluding accrued interest), respectively, in the fair value of interest rate swaps and a corresponding adjustment in the carrying value of the hedged fixed-rate debt.

Foreign exchange contracts are not designated as hedges. Gains or losses on foreign exchange contracts are recognized immediately in Other, net in Revenues and non-operating income.

Net pre-tax gains (losses) on derivative contracts used for Corporate risk management and not designated as hedges amounted to the following:


	Three Months
	Ended March 31,
	2011		2010
	(Millions of dollars)
Commodity	$	1	$	1
Foreign exchange		19		(37	)

Total	$	20	$	(36	)

Trading Activities: Trading activities are conducted principally through a trading partnership in which the Corporation has a 50% voting interest. This consolidated entity intends to generate earnings through various strategies primarily using energy-related commodities, securities and derivatives. The Corporation also takes trading positions for its own account. The information that follows represents 100% of the trading partnership and the Corporation’s proprietary trading accounts.

The table below shows the gross volume of derivative instruments outstanding relating to trading activities:


	March 31,		December 31,
	2011		2010
Commodity Contracts
Crude oil and refined products (millions of barrels)		3,784		3,328
Natural gas (millions of mcf)		4,730		4,699
Electricity (millions of megawatt hours)		167		79
Other Contracts (millions of U.S. Dollars)
Foreign exchange		582		506
Interest rate		153		205

Pre-tax gains (losses) recorded in Sales and other operating revenues from trading activities amounted to the following:


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Commodity	$	122		$	105
Foreign exchange		(5	)		(2	)
Interest rate and other		13			(8	)

Total	$	130		$	95

Fair Value Measurements: The Corporation determines fair value in accordance with the fair value measurements accounting standard (ASC 820 — Fair Value Measurements and Disclosures), which established a hierarchy that categorizes the sources of inputs, which generally range from quoted prices for identical instruments in a principal trading market (Level 1) to estimates determined using related market data (Level 3).

When Level 1 inputs are available within a particular market, those inputs are selected for determination of fair value over Level 2 or 3 inputs in the same market. To value Level 2 and 3 derivatives the Corporation uses observable inputs for similar instruments that are available from exchanges, pricing services or broker quotes. These observable inputs may be supplemented with other methods, including internal extrapolation, that result in the most representative prices for instruments with similar characteristics. Multiple inputs may be used to measure fair value, however, the level of fair value for each financial asset or liability presented below is based on the lowest significant input level within this fair value hierarchy.

The following table provides the Corporation’s net financial assets and (liabilities) that are measured at fair value based on this hierarchy:


										Collateral
										and
										counterparty
	Level 1			Level 2			Level 3			netting			Balance
	(Millions of dollars)
March 31, 2011
Assets
Derivative contracts
Commodity	$	376		$	1,088		$	1,503		$	(509	)	$	2,458
Foreign exchange		—			2			—			—			2
Other		—			18			—			—			18
Collateral and counterparty netting		(120	)		(117	)		(22	)		(280	)		(539	)

Total derivative contracts		256			991			1,481			(789	)		1,939
Other assets measured at fair value on a recurring basis		20			55			—			—			75

Total assets	$	276		$	1,046		$	1,481		$	(789	)	$	2,014


Liabilities
Derivative contracts
Commodity	$	(453	)	$	(2,856	)	$	(716	)	$	509		$	(3,516	)
Foreign exchange		—			(12	)		—			—			(12	)
Other		—			(13	)		—			—			(13	)
Collateral and counterparty netting		120			117			22			68			327

Total derivative contracts		(333	)		(2,764	)		(694	)		577			(3,214	)
Other liabilities measured at fair value on a recurring basis		—			—			—			—			—

Total liabilities	$	(333	)	$	(2,764	)	$	(694	)	$	577		$	(3,214	)


										Collateral
										and
										counterparty
	Level 1			Level 2			Level 3			netting			Balance
	(Millions of dollars)
December 31, 2010
Assets
Derivative contracts
Commodity	$	65		$	1,308		$	883		$	(304	)	$	1,952
Foreign exchange		—			1			—			—			1
Other		—			17			—			—			17
Collateral and counterparty netting		(1	)		(274	)		(19	)		(213	)		(507	)

Total derivative contracts		64			1,052			864			(517	)		1,463
Other assets measured at fair value on a recurring basis		20			49			3			—			72

Total assets	$	84		$	1,101		$	867		$	(517	)	$	1,535


Liabilities
Derivative contracts
Commodity	$	(324	)	$	(2,519	)	$	(474	)	$	304		$	(3,013	)
Foreign exchange		—			(12	)		—			—			(12	)
Other		—			(10	)		—			—			(10	)
Collateral and counterparty netting		1			274			19			34			328

Total derivative contracts		(323	)		(2,267	)		(455	)		338			(2,707	)
Other liabilities measured at fair value on a recurring basis		—			—			—			—			—

Total liabilities	$	(323	)	$	(2,267	)	$	(455	)	$	338		$	(2,707	)

The following table provides changes in financial assets and liabilities that are measured at fair value based on Level 3 inputs:


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Balance at beginning of period	$	412		$	84
Unrealized gains (losses)
Included in earnings		312			103
Included in other comprehensive income		10			(14	)
Purchases		(819	)		(103	)
Sales		815			92
Settlements		20			(31	)
Transfers into Level 3		83			(159	)
Transfers out of Level 3		(46	)		(18	)

Balance at end of period	$	787		$	(46	)

Purchases and sales in the table above primarily represent option premiums paid or received during the reporting period. Settlements represent realized gains and losses on derivatives settled during the reporting period.

The following table provides net transfers into and out of each level of the fair value hierarchy:


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Transfers into Level 1	$	(26	)	$	25
Transfers out of Level 1		214			15

	$	188		$	40


Transfers into Level 2	$	8		$	—
Transfers out of Level 2		(233	)		137

	$	(225	)	$	137


Transfers into Level 3	$	83		$	(159	)
Transfers out of Level 3		(46	)		(18	)

	$	37		$	(177	)

The Corporation’s policy is to recognize transfers in and transfers out as of the end of the reporting period. Transfers between levels result from the passage of time as contracts move closer to their maturities, fluctuations in the market liquidity for certain contracts and/or changes in the level of significance of fair value measurement inputs.

In addition to the financial assets and liabilities disclosed in the tables above, the Corporation had other short-term financial instruments, primarily cash equivalents and accounts receivable and payable, for which the carrying value approximated their fair value at March 31, 2011 and December 31, 2010. Fixed-rate long-term debt had a carrying value of $5,550 million compared with a fair value of $6,189 million at March 31, 2011, and a carrying value of $5,569 million, compared with a fair value of $6,353 million at December 31, 2010.

The table below reflects the gross and net fair values of the Corporation’s risk management and trading derivative instruments:


	Accounts			Accounts
	Receivable			Payable
	(Millions of dollars)
March 31, 2011
Derivative contracts designated as hedging instruments
Commodity	$	128		$	(376	)
Other		7			(4	)

Total derivative contracts designated as hedging instruments		135			(380	)


Derivative contracts not designated as hedging instruments (*)
Commodity		19,656			(20,465	)
Foreign exchange		6			(17	)
Other		33			(31	)

Total derivative contracts not designated as hedging instruments		19,695			(20,513	)


Gross fair value of derivative contracts		19,830			(20,893	)
Master netting arrangements		(17,611	)		17,611
Cash collateral (received) posted		(280	)		68

Net fair value of derivative contracts	$	1,939		$	(3,214	)


	Accounts			Accounts
	Receivable			Payable
	(Millions of dollars)
December 31, 2010
Derivative contracts designated as hedging instruments
Commodity	$	225		$	(483	)
Other		10			(2	)

Total derivative contracts designated as hedging instruments		235			(485	)


Derivative contracts not designated as hedging instruments (*)
Commodity		11,581			(12,383	)
Foreign exchange		7			(19	)
Other		31			(32	)

Total derivative contracts not designated as hedging instruments		11,619			(12,434	)


Gross fair value of derivative contracts		11,854			(12,919	)
Master netting arrangements		(10,178	)		10,178
Cash collateral (received) posted		(213	)		34

Net fair value of derivative contracts	$	1,463		$	(2,707	)


(*)		Includes trading derivatives and derivatives used for risk management.

Credit Risk: The Corporation is exposed to credit risks that may at times be concentrated with certain counterparties, groups of counterparties or customers. Accounts receivable are generated from a diverse domestic and international customer base. The Corporation’s net receivables at March 31, 2011 are concentrated with the following counterparty and customer industry segments: Integrated Oil Companies — 26%, Real Estate — 10%, Manufacturing — 9%, Government Entities — 9% and Services — 8%. The Corporation reduces its risk related to certain counterparties by using master netting arrangements and requiring collateral, generally cash or letters of credit. The Corporation records the cash collateral received or posted as an offset to the fair value of derivatives executed with the same counterparty. At March 31, 2011 and December 31, 2010, the Corporation held cash from counterparties of $280 million and $213 million, respectively. The Corporation posted cash to counterparties at March 31, 2011 and December 31, 2010 of $68 million and $34 million, respectively.

At March 31, 2011, the Corporation had a total of $2,453 million of outstanding letters of credit, primarily issued to satisfy margin requirements. Certain of the Corporation’s agreements also contain contingent collateral provisions that could require the Corporation to post additional collateral if the Corporation’s credit rating declines. As of March 31, 2011, the net liability related to derivatives with contingent collateral provisions was approximately $1,400 million before cash collateral posted of approximately $35 million. At March 31, 2011, all three major credit rating agencies that rate the Corporation’s debt had assigned an investment grade rating. If two of the three agencies were to downgrade the Corporation’s rating to below investment grade, as of March 31, 2011, the Corporation would be required to post additional collateral of approximately $305 million.

Weighted Average Common Shares

3 Months Ended

Mar. 31, 2011

Weighted Average Common Shares [Abstract]

Weighted Average Common Shares

10. Weighted Average Common Shares

The weighted average numbers of common shares used in the basic and diluted earnings per share computations are as follows:


	Three Months
	Ended March 31,
	2011		2010
	(In thousands)
Common shares — basic		335,818		324,768
Effect of dilutive securities
Restricted common stock		1,563		1,379
Stock options		1,778		809

Common shares — diluted		339,159		326,956

The Corporation issued 2,111,295 stock options and 702,955 shares of restricted stock for the three months ended March 31, 2011 (2,675,700 and 891,900 shares, respectively, for the same period in 2010). The table above excludes the effect of 2,857,000 shares related to out-of-the money options for the three months ended March 31, 2011 (4,236,000 shares for the same period in 2010).

Equity and Comprehensive Income

3 Months Ended

Mar. 31, 2011

Equity and Comprehensive Income [Abstract]

Equity and Comprehensive Income

11. Equity and Comprehensive Income

The table below summarizes changes in equity:


	Hess			Non-
	Stockholders’			controlling
	Equity			Interests			Total Equity
	(Millions of dollars)
Balance at January 1, 2011	$	16,689		$	120		$	16,809

Net income (loss)		929			45			974
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income		101			—			101
Net change in fair value of cash flow hedges		(3	)		—			(3	)
Change in post retirement plan liabilities, after-tax		7			—			7
Change in foreign currency translation adjustment and other		181			5			186

Comprehensive income (loss)		1,215			50			1,265

Activity related to restricted common stock awards, net		11			—			11
Employee stock options, including income tax benefits		66			—			66
Cash dividends declared		(34	)		—			(34	)
Noncontrolling interests, net		2			(2	)		—

Balance at March 31, 2011	$	17,949		$	168		$	18,117


Balance at January 1, 2010	$	13,384		$	144		$	13,528

Net income (loss)		538			30			568
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income		174			—			174
Net change in fair value of cash flow hedges		(242	)		—			(242	)
Change in post retirement plan liabilities, after-tax		8			—			8
Change in foreign currency translation adjustment and other		(14	)		1			(13	)

Comprehensive income (loss)		464			31			495

Activity related to restricted common stock awards, net		13			—			13
Employee stock options, including income tax benefits		22			—			22
Cash dividends declared		(33	)		—			(33	)
Noncontrolling interests, net		5			(3	)		2

Balance at March 31, 2010	$	13,855		$	172		$	14,027

Segment Information

3 Months Ended

Mar. 31, 2011

Segment Information [Abstract]

Segment Information

12. Segment Information

The Corporation’s results by operating segment were as follows:


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Operating revenues
Exploration and Production	$	2,687		$	2,141
Marketing and Refining		7,563			7,157
Less: Transfers between affiliates		(35	)		(39	)

Total (*)	$	10,215		$	9,259


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Net income (loss) attributable to Hess Corporation
Exploration and Production	$	979		$	551
Marketing and Refining		39			87
Corporate, including interest		(89	)		(100	)

Total	$	929		$	538


(*)		Operating revenues exclude excise and similar taxes of approximately $560 million and $530 million for the three months ended March 31, 2011 and 2010, respectively.

Identifiable assets by operating segment were as follows:


	March 31,		December 31,
	2011		2010
	(Millions of dollars)
Exploration and Production	$	28,816	$	28,242
Marketing and Refining		6,809		6,377
Corporate		1,012		777

Total	$	36,637	$	35,396

Subsequent Event	3 Months Ended
Subsequent Event	Mar. 31, 2011
Subsequent Event [Abstract]
Subsequent Event	13. Subsequent Event In April 2011, the Corporation entered into a new $4 billion syndicated revolving credit facility that matures in April 2016, which replaces a $3 billion facility that was scheduled to mature in May 2012. The new facility can be used for borrowings and letters of credit. The interest rate and facility fee are subject to adjustment if the Corporation’s credit rating changes. The restrictions on the amount of total borrowings and cash dividends remain unchanged.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2011
Summary of Significant Accounting Policies (Policies) [Abstract]
Basis of Presentation	The financial statements included in this report reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of Hess Corporation’s (the Corporation) consolidated financial position at March 31, 2011 and December 31, 2010 and the consolidated results of operations and cash flows for the three month periods ended March 31, 2011 and 2010. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. The financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission (SEC) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by U.S. generally accepted accounting principles (GAAP) have been condensed or omitted from these interim financial statements. These statements, therefore, should be read in conjunction with the consolidated financial statements and related notes included in the Corporation’s Form 10-K for the year ended December 31, 2010. Certain information in the financial statements and notes has been reclassified to conform to the current period presentation.
Fair Value Measurements	*Fair Value Measurements:* The Corporation determines fair value in accordance with the fair value measurements accounting standard (ASC 820 — Fair Value Measurements and Disclosures), which established a hierarchy that categorizes the sources of inputs, which generally range from quoted prices for identical instruments in a principal trading market (Level 1) to estimates determined using related market data (Level 3). When Level 1 inputs are available within a particular market, those inputs are selected for determination of fair value over Level 2 or 3 inputs in the same market. To value Level 2 and 3 derivatives the Corporation uses observable inputs for similar instruments that are available from exchanges, pricing services or broker quotes. These observable inputs may be supplemented with other methods, including internal extrapolation, that result in the most representative prices for instruments with similar characteristics. Multiple inputs may be used to measure fair value, however, the level of fair value for each financial asset or liability presented below is based on the lowest significant input level within this fair value hierarchy.

Inventories (Tables)

3 Months Ended

Mar. 31, 2011

Inventories (Tables) [Abstract]

Inventories


	March 31,			December 31,
	2011			2010
	(Millions of dollars)
Crude oil and other charge stocks	$	538		$	496
Refined products and natural gas		1,829			1,528
Less: LIFO adjustment		(1,244	)		(995	)

		1,123			1,029
Merchandise, materials and supplies		429			423

Total inventories	$	1,552		$	1,452

Refining Joint Venture (Tables)

3 Months Ended

Mar. 31, 2011

Refining Joint Venture (Tables) [Abstract]

Summarized balance sheet


	March 31,			December 31,
	2011			2010
	(Millions of dollars)
Summarized balance sheet
Cash and cash equivalents	$	52		$	45
Other current assets		528			668
Net fixed assets		1,969			1,987
Other assets		26			27
Current liabilities		(999	)		(1,001	)
Long-term debt		(655	)		(706	)
Deferred liabilities and credits		(136	)		(135	)

Members’ equity	$	785		$	885

Carrying value of Hess Corporation’s equity investment	$	111		$	158

Summarized income statement


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Summarized income statement
Total revenues	$	2,862		$	2,766
Cost and expenses		(2,962	)		(2,934	)

Net income (loss)	$	(100	)	$	(168	)

Hess Corporation’s share, before income taxes (*)	$	(51	)	$	(85	)


(*)		The Corporation also recorded a benefit of $3 million in the first quarter of 2011 from the amortization of the basis difference between the carrying value of the Corporation’s investment in HOVENSA and its equity in the net assets of the affiliate.

Capitalized Exploratory Well Costs (Tables)

3 Months Ended

Mar. 31, 2011

Capitalized Exploratory Well Costs (Tables) [Abstract]

Net changes in capitalized exploratory well costs


Balance at January 1	$	1,783
Additions to capitalized exploratory well costs pending the determination of proved reserves		183
Reclassification to wells, facilities, and equipment based on the determination of proved reserves		(22	)
Capitalized exploratory well costs charged to expense		(69	)
Dispositions		(11	)

Balance at end of period	$	1,864

Foreign Currency (Tables)

3 Months Ended

Mar. 31, 2011

Foreign Currency (Tables) [Abstract]

Pre-tax foreign currency gain (losses)


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Pre-tax foreign currency gains (losses)	$	(1	)	$	(6	)

Retirement Plans (Tables)

3 Months Ended

Mar. 31, 2011

Retirement Plans (Tables) [Abstract]

Components of net periodic pension cost


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Service cost	$	14		$	12
Interest cost		22			22
Expected return on plan assets		(27	)		(21	)
Amortization of net loss		11			12

Pension expense	$	20		$	25

Risk Management and Trading Activities (Tables)

3 Months Ended

Mar. 31, 2011

Risk Management and Trading Activities (Tables) [Abstract]

Gross volume of the Corporation's energy marketing commodity contracts outstanding


	March 31,		December 31,
	2011		2010
Commodity Contracts
Crude oil and refined products (millions of barrels)		41		30
Natural gas (millions of mcf)		2,150		2,210
Electricity (millions of megawatt hours)		291		301

Gross volume of the Corporate risk management derivative instruments outstanding


	March 31,		December 31,
	2011		2010
Commodity contracts, primarily crude oil (millions of barrels)		31		35
Foreign exchange contracts (millions of U.S. Dollars)		861		1,025
Interest rate swap contracts (millions of U.S. Dollars)		310		310

Net pre-tax gains on derivative contracts used for corporate risk management not designated as hedges


	Three Months
	Ended March 31,
	2011		2010
	(Millions of dollars)
Commodity	$	1	$	1
Foreign exchange		19		(37	)

Total	$	20	$	(36	)

Gross volume of the corporation's trading derivative instruments outstanding


	March 31,		December 31,
	2011		2010
Commodity Contracts
Crude oil and refined products (millions of barrels)		3,784		3,328
Natural gas (millions of mcf)		4,730		4,699
Electricity (millions of megawatt hours)		167		79
Other Contracts (millions of U.S. Dollars)
Foreign exchange		582		506
Interest rate		153		205

Pre-tax gains (losses) from trading activities


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Commodity	$	122		$	105
Foreign exchange		(5	)		(2	)
Interest rate and other		13			(8	)

Total	$	130		$	95

Fair Value of the Corporation's financial assets and liabilities based on hierarchy


										Collateral
										and
										counterparty
	Level 1			Level 2			Level 3			netting			Balance
	(Millions of dollars)
March 31, 2011
Assets
Derivative contracts
Commodity	$	376		$	1,088		$	1,503		$	(509	)	$	2,458
Foreign exchange		—			2			—			—			2
Other		—			18			—			—			18
Collateral and counterparty netting		(120	)		(117	)		(22	)		(280	)		(539	)

Total derivative contracts		256			991			1,481			(789	)		1,939
Other assets measured at fair value on a recurring basis		20			55			—			—			75

Total assets	$	276		$	1,046		$	1,481		$	(789	)	$	2,014


Liabilities
Derivative contracts
Commodity	$	(453	)	$	(2,856	)	$	(716	)	$	509		$	(3,516	)
Foreign exchange		—			(12	)		—			—			(12	)
Other		—			(13	)		—			—			(13	)
Collateral and counterparty netting		120			117			22			68			327

Total derivative contracts		(333	)		(2,764	)		(694	)		577			(3,214	)
Other liabilities measured at fair value on a recurring basis		—			—			—			—			—

Total liabilities	$	(333	)	$	(2,764	)	$	(694	)	$	577		$	(3,214	)


										Collateral
										and
										counterparty
	Level 1			Level 2			Level 3			netting			Balance
	(Millions of dollars)
December 31, 2010
Assets
Derivative contracts
Commodity	$	65		$	1,308		$	883		$	(304	)	$	1,952
Foreign exchange		—			1			—			—			1
Other		—			17			—			—			17
Collateral and counterparty netting		(1	)		(274	)		(19	)		(213	)		(507	)

Total derivative contracts		64			1,052			864			(517	)		1,463
Other assets measured at fair value on a recurring basis		20			49			3			—			72

Total assets	$	84		$	1,101		$	867		$	(517	)	$	1,535


Liabilities
Derivative contracts
Commodity	$	(324	)	$	(2,519	)	$	(474	)	$	304		$	(3,013	)
Foreign exchange		—			(12	)		—			—			(12	)
Other		—			(10	)		—			—			(10	)
Collateral and counterparty netting		1			274			19			34			328

Total derivative contracts		(323	)		(2,267	)		(455	)		338			(2,707	)
Other liabilities measured at fair value on a recurring basis		—			—			—			—			—

Total liabilities	$	(323	)	$	(2,267	)	$	(455	)	$	338		$	(2,707	)

Changes in financial assets and liabilities at fair value based on level 3 inputs


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Balance at beginning of period	$	412		$	84
Unrealized gains (losses)
Included in earnings		312			103
Included in other comprehensive income		10			(14	)
Purchases		(819	)		(103	)
Sales		815			92
Settlements		20			(31	)
Transfers into Level 3		83			(159	)
Transfers out of Level 3		(46	)		(18	)

Balance at end of period	$	787		$	(46	)

Net transfers into and out of each level of the fair value hierarchy


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Transfers into Level 1	$	(26	)	$	25
Transfers out of Level 1		214			15

	$	188		$	40


Transfers into Level 2	$	8		$	—
Transfers out of Level 2		(233	)		137

	$	(225	)	$	137


Transfers into Level 3	$	83		$	(159	)
Transfers out of Level 3		(46	)		(18	)

	$	37		$	(177	)

Gross and net fair values of the Corporation's risk management and trading derivative instruments


	Accounts			Accounts
	Receivable			Payable
	(Millions of dollars)
March 31, 2011
Derivative contracts designated as hedging instruments
Commodity	$	128		$	(376	)
Other		7			(4	)

Total derivative contracts designated as hedging instruments		135			(380	)


Derivative contracts not designated as hedging instruments (*)
Commodity		19,656			(20,465	)
Foreign exchange		6			(17	)
Other		33			(31	)

Total derivative contracts not designated as hedging instruments		19,695			(20,513	)


Gross fair value of derivative contracts		19,830			(20,893	)
Master netting arrangements		(17,611	)		17,611
Cash collateral (received) posted		(280	)		68

Net fair value of derivative contracts	$	1,939		$	(3,214	)


	Accounts			Accounts
	Receivable			Payable
	(Millions of dollars)
December 31, 2010
Derivative contracts designated as hedging instruments
Commodity	$	225		$	(483	)
Other		10			(2	)

Total derivative contracts designated as hedging instruments		235			(485	)


Derivative contracts not designated as hedging instruments (*)
Commodity		11,581			(12,383	)
Foreign exchange		7			(19	)
Other		31			(32	)

Total derivative contracts not designated as hedging instruments		11,619			(12,434	)


Gross fair value of derivative contracts		11,854			(12,919	)
Master netting arrangements		(10,178	)		10,178
Cash collateral (received) posted		(213	)		34

Net fair value of derivative contracts	$	1,463		$	(2,707	)


(*)		Includes trading derivatives and derivatives used for risk management.

Weighted Average Common Shares (Tables)

3 Months Ended

Mar. 31, 2011

Weighted Average Common Shares (Tables) [Abstract]

Weighted average number of common shares outstanding - basic and diluted


	Three Months
	Ended March 31,
	2011		2010
	(In thousands)
Common shares — basic		335,818		324,768
Effect of dilutive securities
Restricted common stock		1,563		1,379
Stock options		1,778		809

Common shares — diluted		339,159		326,956

Equity and Comprehensive Income (Table)

3 Months Ended

Mar. 31, 2011

Equity and Comprehensive Income (Tables) [Abstract]

Changes in Equity


	Hess			Non-
	Stockholders’			controlling
	Equity			Interests			Total Equity
	(Millions of dollars)
Balance at January 1, 2011	$	16,689		$	120		$	16,809

Net income (loss)		929			45			974
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income		101			—			101
Net change in fair value of cash flow hedges		(3	)		—			(3	)
Change in post retirement plan liabilities, after-tax		7			—			7
Change in foreign currency translation adjustment and other		181			5			186

Comprehensive income (loss)		1,215			50			1,265

Activity related to restricted common stock awards, net		11			—			11
Employee stock options, including income tax benefits		66			—			66
Cash dividends declared		(34	)		—			(34	)
Noncontrolling interests, net		2			(2	)		—

Balance at March 31, 2011	$	17,949		$	168		$	18,117


Balance at January 1, 2010	$	13,384		$	144		$	13,528

Net income (loss)		538			30			568
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income		174			—			174
Net change in fair value of cash flow hedges		(242	)		—			(242	)
Change in post retirement plan liabilities, after-tax		8			—			8
Change in foreign currency translation adjustment and other		(14	)		1			(13	)

Comprehensive income (loss)		464			31			495

Activity related to restricted common stock awards, net		13			—			13
Employee stock options, including income tax benefits		22			—			22
Cash dividends declared		(33	)		—			(33	)
Noncontrolling interests, net		5			(3	)		2

Balance at March 31, 2010	$	13,855		$	172		$	14,027

Segment Information (Tables)

3 Months Ended

Mar. 31, 2011

Segment Information (Tables) [Abstract]

Operating revenues by operating segment


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Operating revenues
Exploration and Production	$	2,687		$	2,141
Marketing and Refining		7,563			7,157
Less: Transfers between affiliates		(35	)		(39	)

Total (*)	$	10,215		$	9,259


(*)		Operating revenues exclude excise and similar taxes of approximately $560 million and $530 million for the three months ended March 31, 2011 and 2010, respectively.

Net income (loss) attributable to Hess Corporation by operating segment


	Three Months
	Ended March 31,
	2011			2010
	(Millions of dollars)
Net income (loss) attributable to Hess Corporation
Exploration and Production	$	979		$	551
Marketing and Refining		39			87
Corporate, including interest		(89	)		(100	)

Total	$	929		$	538

Identifiable assets by operating segment


	March 31,		December 31,
	2011		2010
	(Millions of dollars)
Exploration and Production	$	28,816	$	28,242
Marketing and Refining		6,809		6,377
Corporate		1,012		777

Total	$	36,637	$	35,396

Libyan Operations (Details) $ in Millions	3 Months Ended	12 Months Ended
Libyan Operations (Details) $ in Millions	Mar. 31, 2011 USD ($)	Dec. 31, 2010
Libyan Operation (Textual) [Abstract]
The average production in Libya (in boepd)	14,000	23,000
The Corporation's proved reserves in Libya (in B.O.E)		167,000,000
The net book value of the Corporation's assets in Libya	$ 400

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2011	Dec. 31, 2010
Inventories
Crude oil and other charge stocks	$ 538	$ 496
Refined products and natural gas	1,829	1,528
Less: LIFO adjustment	(1,244)	(995)
Total net crude natural gas and refined product inventories	1,123	1,029
Merchandise, materials and supplies	429	423
Total inventories	$ 1,552	$ 1,452

Refining Joint Venture (Details) - USD ($) $ in Millions	3 Months Ended
Refining Joint Venture (Details) - USD ($) $ in Millions	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Summarized balance sheet
Other current assets	$ (759)		$ (1,002)
Net fixed assets	(21,759)		(21,127)
Other assets	(479)		(471)
Current liabilities	7,351		7,613
Deferred liabilities and credits	1,214		1,239
Carrying value of Hess Corporation's equity investment	111		158
Summarized income statement
Total revenues	2,862	$ 2,766
Costs and expenses	(2,962)	(2,934)
Net income (loss)	(100)	(168)
Hess Corporation's share before income taxes	(51)	$ (85)
Refining Joint Venture (Textuals) [Abstract]
The amortization of the basis difference (benefit)	3
Equity method [Member]
Summarized balance sheet
Cash and cash equivalents	52		45
Other current assets	528		668
Net fixed assets	1,969		1,987
Other assets	26		27
Current liabilities	(999)		(1,001)
Long-term debt	(655)		(706)
Deferred liabilities and credits	(136)		(135)
Members' equity	$ 785		$ 885

Acquisitions and Divestitures (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2011	Mar. 31, 2011
Acquisitions and Divestitures (Textuals) [Abstract]
Cash received from the sale of oil and gas assets		$ 359
Gain on asset sale - before tax		343
Gain on asset sale - after tax		310
Carrying value of disposed asset		16
Business divestiture goodwill amount		$ 14
Easington Catchment Area [Member]
Additional (Textuals)
The corporation's proportionate interest in oil and gas assets	30.00%
Bacton Area [Member]
Additional (Textuals)
The corporation's proportionate interest in oil and gas assets	23.00%
Everest Field [Member]
Additional (Textuals)
The corporation's proportionate interest in oil and gas assets	19.00%
Lomond Field [Member]
Additional (Textuals)
The corporation's proportionate interest in oil and gas assets	17.00%

Capitalized Exploratory Well Costs (Details) $ in Millions	3 Months Ended
Capitalized Exploratory Well Costs (Details) $ in Millions	Mar. 31, 2011 USD ($)
Net changes in capitalized exploratory well costs
Beginning balance at January 1	$ 1,783
Additions to capitalized exploratory well costs pending the determination of proved reserves	183
Reclassifications to wells, facilities, and equipment based on the determination of proved reserves	(22)
Capitalized exploratory well costs charged to expense	(69)
Dispositions	(11)
Ending balance March 31	$ 1,864

Capitalized Exploratory Well Costs (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2011 USD ($)
Capitalized Exploratory Well Costs (Textuals) [Abstract]
Capitalized exploratory well cost charged to expenses	$ 68
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 1,278
Capitalized well costs attributable to Pony and Tubular Bells projects	48.00%
Capitalized well costs attributable to Area 54 offshore Libya	21.00%
Capitalized well costs attributable to Block WA-390-P offshore Western Australia	18.00%

Foreign Currency (Details) - USD ($) $ in Millions	3 Months Ended
Foreign Currency (Details) - USD ($) $ in Millions	Mar. 31, 2011	Mar. 31, 2010
Pre-tax foreign currency gain (losses)
Pre-tax foreign currency gains (losses)	$ (1)	$ (6)

Retirement Plans (Details) - USD ($) $ in Millions	3 Months Ended
Retirement Plans (Details) - USD ($) $ in Millions	Mar. 31, 2011	Mar. 31, 2010
Components of net periodic pension cost
Service cost	$ 14	$ 12
Interest cost	22	22
Expected return on plan assets	(27)	(21)
Amortization of unrecognized net actuarial loss	11	12
Pension expense	20	$ 25
Retirement Plans (Textuals)
Corporation expects to contribute to its pension plan in 2011	190
Corporation contributed to its pension plan	$ 65

Risk Management and Trading Activities (Details) $ in Millions	Mar. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Gross volume of the Corporation's derivative contracts and instruments outstanding
Interest rate swap contracts (millions of U.S. Dollars)	$ 310
Gross volume of derivative instruments outstanding relating to trading activities [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Foreign exchange contracts (millions of U.S. Dollars)	582	$ 506
Interest rate swap contracts (millions of U.S. Dollars)	153	205
Gross Volume of the corporate risk management derivative instruments outstanding [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Foreign exchange contracts (millions of U.S. Dollars)	861	1,025
Interest rate swap contracts (millions of U.S. Dollars)	$ 310	$ 310
Crude oil and refined products (millions of barrels) [Member] \| Gross volume of derivative instruments outstanding relating to trading activities [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Absolute volume of derivative commodity contracts	3,784	3,328
Crude oil and refined products (millions of barrels) [Member] \| Gross volume of the Corporation's energy marketing commodity contracts outstanding [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Absolute volume of derivative commodity contracts	41	30
Crude oil and refined products (millions of barrels) [Member] \| Gross Volume of the corporate risk management derivative instruments outstanding [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Absolute volume of derivative commodity contracts	31	35
Natural gas (millions of mcf) [Member] \| Gross volume of derivative instruments outstanding relating to trading activities [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Absolute volume of derivative commodity contracts	4,730	4,699
Natural gas (millions of mcf) [Member] \| Gross volume of the Corporation's energy marketing commodity contracts outstanding [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Absolute volume of derivative commodity contracts	2,150	2,210
Electricity (millions of megawatt hours) [Member] \| Gross volume of derivative instruments outstanding relating to trading activities [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Absolute volume of derivative commodity contracts	167	79
Electricity (millions of megawatt hours) [Member] \| Gross volume of the Corporation's energy marketing commodity contracts outstanding [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Absolute volume of derivative commodity contracts	291	301

Risk Management and Trading Activities (Details 1) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Pre-tax gains (losses) from trading activities
Pre-tax gains (losses) from trading activities	$ 130	$ 95
Interest rate and Other [Member]
Pre-tax gains (losses) from trading activities
Pre-tax gains (losses) from trading activities	13	(8)
Commodity [Member]
Pre-tax gains (losses) from trading activities
Pre-tax gains (losses) from trading activities	122	105
Foreign Exchange [Member]
Pre-tax gains (losses) from trading activities
Pre-tax gains (losses) from trading activities	(5)	(2)
Corporate Risk Management [Member] \| Not designated as hedges [Member]
Net pre-tax gains (losses) on derivative contracts not designated as hedges
Net pre-tax gains (losses) on derivative contracts	20	(36)
Corporate Risk Management [Member] \| Commodity [Member] \| Not designated as hedges [Member]
Net pre-tax gains (losses) on derivative contracts not designated as hedges
Net pre-tax gains (losses) on derivative contracts	1	1
Corporate Risk Management [Member] \| Foreign Exchange [Member] \| Not designated as hedges [Member]
Net pre-tax gains (losses) on derivative contracts not designated as hedges
Net pre-tax gains (losses) on derivative contracts	$ 19	$ (37)

Risk Management and Trading Activities (Details 2) - USD ($) $ in Millions	Mar. 31, 2011	Dec. 31, 2010
Assets
Collateral and counterparty netting	$ (539)	$ (507)
Total derivative contracts (Assets)	1,939	1,463
Other assets measured at fair value on a recurring basis	75	72
Total assets	2,014	1,535
Liabilities
Collateral and counterparty netting	327	328
Total derivative contracts (Liabilities)	(3,214)	(2,707)
Other liabilities measured at fair value on a recurring basis	0	0
Total liabilities	(3,214)	(2,707)
Level 1 [Member]
Liabilities
Collateral and counterparty netting	120	1
Total derivative contracts (Liabilities)	(333)	(323)
Other liabilities measured at fair value on a recurring basis	0	0
Total liabilities	(333)	(323)
Level 2 [Member]
Liabilities
Collateral and counterparty netting	117	274
Total derivative contracts (Liabilities)	(2,764)	(2,267)
Other liabilities measured at fair value on a recurring basis	0	0
Total liabilities	(2,764)	(2,267)
Level 3 [Member]
Liabilities
Collateral and counterparty netting	22	19
Total derivative contracts (Liabilities)	(694)	(455)
Other liabilities measured at fair value on a recurring basis	0	0
Total liabilities	(694)	(455)
Collateral and counterparty netting elimination [Member]
Liabilities
Collateral and counterparty netting	68	34
Total derivative contracts (Liabilities)	577	338
Other liabilities measured at fair value on a recurring basis	0	0
Total liabilities	577	338
Level 1 [Member]
Assets
Collateral and counterparty netting	(120)	(1)
Total derivative contracts (Assets)	256	64
Other assets measured at fair value on a recurring basis	20	20
Total assets	276	84
Level 2 [Member]
Assets
Collateral and counterparty netting	(117)	(274)
Total derivative contracts (Assets)	991	1,052
Other assets measured at fair value on a recurring basis	55	49
Total assets	1,046	1,101
Level 3 [Member]
Assets
Collateral and counterparty netting	(22)	(19)
Total derivative contracts (Assets)	1,481	864
Other assets measured at fair value on a recurring basis	0	3
Total assets	1,481	867
Collateral and counterparty netting elimination [Member]
Assets
Collateral and counterparty netting	(280)	(213)
Total derivative contracts (Assets)	(789)	(517)
Other assets measured at fair value on a recurring basis	0	0
Total assets	(789)	(517)
Commodity [Member]
Assets
Total derivative contracts (Assets)	2,458	1,952
Liabilities
Total derivative contracts (Liabilities)	(3,516)	(3,013)
Commodity [Member] \| Level 1 [Member]
Liabilities
Total derivative contracts (Liabilities)	(453)	(324)
Commodity [Member] \| Level 2 [Member]
Liabilities
Total derivative contracts (Liabilities)	(2,856)	(2,519)
Commodity [Member] \| Level 3 [Member]
Liabilities
Total derivative contracts (Liabilities)	(716)	(474)
Commodity [Member] \| Collateral and counterparty netting elimination [Member]
Liabilities
Total derivative contracts (Liabilities)	509	304
Commodity [Member] \| Level 1 [Member]
Assets
Total derivative contracts (Assets)	376	65
Commodity [Member] \| Level 2 [Member]
Assets
Total derivative contracts (Assets)	1,088	1,308
Commodity [Member] \| Level 3 [Member]
Assets
Total derivative contracts (Assets)	1,503	883
Commodity [Member] \| Collateral and counterparty netting elimination [Member]
Assets
Total derivative contracts (Assets)	(509)	(304)
Foreign Exchange [Member]
Assets
Total derivative contracts (Assets)	2	1
Liabilities
Total derivative contracts (Liabilities)	(12)	(12)
Foreign Exchange [Member] \| Level 1 [Member]
Liabilities
Total derivative contracts (Liabilities)	0	0
Foreign Exchange [Member] \| Level 2 [Member]
Liabilities
Total derivative contracts (Liabilities)	(12)	(12)
Foreign Exchange [Member] \| Level 3 [Member]
Liabilities
Total derivative contracts (Liabilities)	0	0
Foreign Exchange [Member] \| Collateral and counterparty netting elimination [Member]
Liabilities
Total derivative contracts (Liabilities)	0	0
Foreign Exchange [Member] \| Level 1 [Member]
Assets
Total derivative contracts (Assets)	0	0
Foreign Exchange [Member] \| Level 2 [Member]
Assets
Total derivative contracts (Assets)	2	1
Foreign Exchange [Member] \| Level 3 [Member]
Assets
Total derivative contracts (Assets)	0	0
Foreign Exchange [Member] \| Collateral and counterparty netting elimination [Member]
Assets
Total derivative contracts (Assets)	0	0
Other [Member]
Assets
Total derivative contracts (Assets)	18	17
Liabilities
Total derivative contracts (Liabilities)	(13)	(10)
Other [Member] \| Level 1 [Member]
Liabilities
Total derivative contracts (Liabilities)	0	0
Other [Member] \| Level 2 [Member]
Liabilities
Total derivative contracts (Liabilities)	(13)	(10)
Other [Member] \| Level 3 [Member]
Liabilities
Total derivative contracts (Liabilities)	0	0
Other [Member] \| Collateral and counterparty netting elimination [Member]
Liabilities
Total derivative contracts (Liabilities)	0	0
Other [Member] \| Level 1 [Member]
Assets
Total derivative contracts (Assets)	0	0
Other [Member] \| Level 2 [Member]
Assets
Total derivative contracts (Assets)	18	17
Other [Member] \| Level 3 [Member]
Assets
Total derivative contracts (Assets)	0	0
Other [Member] \| Collateral and counterparty netting elimination [Member]
Assets
Total derivative contracts (Assets)	$ 0	$ 0

Risk Management and Trading Activities (Details 3) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Changes in financial assets and liabilities at fair value based on level 3 inputs
Balance at beginning of period	$ 412	$ 84
Unrealized gains (losses)
Included in earnings	312	103
Included in other comprehensive income	10	(14)
Purchases	(819)	(103)
Sales	815	92
Settlements	20	(31)
Transfers into Level 3	83	(159)
Transfers out of Level 3	(46)	(18)
Balance at end of period	$ 787	$ (46)

Risk Management and Trading Activities (Details 4) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Level 1 [Member]
Net transfers into and out of each level of the fair value hierarchy
Fair Value Measurements net transfers in	$ (26)	$ 25
Fair Value Measurements net transfers out	214	15
Fair Value Measurements net transfers into/out of	188	40
Level 2 [Member]
Net transfers into and out of each level of the fair value hierarchy
Fair Value Measurements net transfers in	8	0
Fair Value Measurements net transfers out	(233)	137
Fair Value Measurements net transfers into/out of	(225)	137
Level 3 [Member]
Net transfers into and out of each level of the fair value hierarchy
Fair Value Measurements net transfers in	83	(159)
Fair Value Measurements net transfers out	(46)	(18)
Fair Value Measurements net transfers into/out of	$ 37	$ (177)

Risk Management and Trading Activities (Details 5) - USD ($) $ in Millions	Mar. 31, 2011	Dec. 31, 2010
Accounts Receivable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts designated as hedging instruments	$ 135	$ 235
Derivative contracts not designated as hedging instruments	19,695	11,619
Gross fair value of derivative contracts	19,830	11,854
Master netting arrangements	(17,611)	(10,178)
Cash collateral (received) posted	(280)	(213)
Net fair value of derivative contracts	1,939	1,463
Accounts Payable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts designated as hedging instruments	(380)	(485)
Derivative contracts not designated as hedging instruments	(20,513)	(12,434)
Gross fair value of derivative contracts	(20,893)	(12,919)
Master netting arrangements	17,611	10,178
Cash collateral (received) posted	68	34
Net fair value of derivative contracts	(3,214)	(2,707)
Commodity [Member] \| Accounts Receivable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts designated as hedging instruments	128	225
Derivative contracts not designated as hedging instruments	19,656	11,581
Commodity [Member] \| Accounts Payable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts designated as hedging instruments	(376)	(483)
Derivative contracts not designated as hedging instruments	(20,465)	(12,383)
Foreign Exchange [Member] \| Accounts Receivable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts not designated as hedging instruments	6	7
Foreign Exchange [Member] \| Accounts Payable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts not designated as hedging instruments	(17)	(19)
Other [Member] \| Accounts Receivable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts designated as hedging instruments	7	10
Derivative contracts not designated as hedging instruments	33	31
Other [Member] \| Accounts Payable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts designated as hedging instruments	(4)	(2)
Derivative contracts not designated as hedging instruments	$ (31)	$ (32)

Risk Management and Trading Activities (Details) (Textual) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2011 USD ($)	Mar. 31, 2010 USD ($)	Dec. 31, 2010 USD ($)
Derivative (Textuals)
Corporation reclassified after-tax gains/(losses) from accumulated other comprehensive income to earnings	$ (81)	$ (83)	$ (338)
Risk Management and Trading Activities (Textuals)
Voting interest in trading partnership	50.00%
The length of time over which the Corporation hedges exposure to variability in future cash flows (in number of years)	2 years or less
Maximum duration for the outstanding hedging contracts (in number of years)	3 years
Hedge contracts associated with the termination of brent crude oil cash flow hedges covering the period through 2012 (barrels per day)	24,000
Number of other open crude oil and natural gas hedges	0
Increase (decrease) of exploration and production sales and other operating revenue due to hedging activities	$ (128)	(131)	(533)
Gross notional amount of interest rate swaps	310
Change in the fair value of interest rate swaps - increase/(decrease)	(2)	1
Change in the carrying value of the hedged fixed rate debt - increase/(decrease)	$ 2	(1)
Percentage of Information disclosed for trading partnership	100.00%
Fixed rate, long-term debt-carrying value	$ 5,550		5,569
Long-term debt fair value	6,189		6,353
Cash received as collateral	280		213
Corporation posted cash to counterparties	68		34
Outstanding letters of credit	2,453
Net liability related to derivatives with contingent collateral provisions	1,400
Cash collateral posted for derivatives with contingent collateral provisions	35
Additional collateral	305
Energy Marketing Activities [Member]
Derivative (Textuals)
After-tax deferred gains/(losses) in Accumulated other comprehensive income	(124)		(147)
Reclassification of accumulated other comprehensive income/(losses) into earnings over the next twelve months	(84)
Corporation reclassified after-tax gains/(losses) from accumulated other comprehensive income to earnings	(20)	(91)
Gain (loss) from hedge ineffectiveness reflected in earnings	(2)	(1)
Increase (decrease) in fair value of energy marketing cash flow hedge positions	$ 2	(226)
Integrated Oil Companies [Member]
Derivative (Textuals)
Fair Value, Concentration of Risk, Accounts Receivable	26.00%
Government Entities [Member]
Derivative (Textuals)
Fair Value, Concentration of Risk, Accounts Receivable	9.00%
Manufacturing [Member]
Derivative (Textuals)
Fair Value, Concentration of Risk, Accounts Receivable	9.00%
Services [Member]
Derivative (Textuals)
Fair Value, Concentration of Risk, Accounts Receivable	8.00%
Real Estate [Member]
Derivative (Textuals)
Fair Value, Concentration of Risk, Accounts Receivable	10.00%
Corporate Risk Management [Member]
Derivative (Textuals)
After-tax deferred gains/(losses) in Accumulated other comprehensive income	$ (562)		$ (638)
Reclassification of accumulated other comprehensive income/(losses) into earnings over the next twelve months	(325)
Not designated as hedges [Member] \| Energy Marketing Activities [Member]
Derivative (Textuals)
Net realized and unrealized pre-tax gains (losses) on derivative contracts not designated as hedges	$ (3)	$ 74

Weighted Average Common Shares (Details) - shares	3 Months Ended
Weighted Average Common Shares (Details) - shares	Mar. 31, 2011	Mar. 31, 2010
Weighted average number of shares outstanding - basic and diluted
Common shares - basic	335,818,000	324,768,000
Effect of dilutive securities
Restricted common stock	1,563,000	1,379,000
Stock options	1,778,000	809,000
Common shares - diluted	339,159,000	326,956,000
Weighted Average Common Shares (Textuals) [Abstract]
Stock options issued	2,111,295	2,675,700
Restricted stock issued	702,955	891,900
Out-of-the money options	2,857,000	4,236,000

Equity and Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2011	Mar. 31, 2010
Changes in Equity :
Beginning Balance	$ 16,809	$ 13,528
Net Income (loss)	974	568
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income	101	174
Net change in fair value of cash flow hedges	(3)	(242)
Change in post retirement plan liabilities, after-tax	7	8
Change in foreign currency translation adjustment and other	186	(13)
Comprehensive income (loss)	1,265	495
Activity related to restricted common stock awards, net	11	13
Employee stock options, including income tax benefits	66	22
Cash dividends declared	(34)	(33)
Noncontrolling interests, net	0	2
Ending Balance	18,117	14,027
Total Hess Stockholders' Equity [Member]
Changes in Equity :
Beginning Balance	16,689	13,384
Net Income (loss)	929	538
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income	101	174
Net change in fair value of cash flow hedges	(3)	(242)
Change in post retirement plan liabilities, after-tax	7	8
Change in foreign currency translation adjustment and other	181	(14)
Comprehensive income (loss)	1,215	464
Activity related to restricted common stock awards, net	11	13
Employee stock options, including income tax benefits	66	22
Cash dividends declared	(34)	(33)
Noncontrolling interests, net	2	5
Ending Balance	17,949	13,855
Noncontrolling Interests [Member]
Changes in Equity :
Beginning Balance	120	144
Net Income (loss)	45	30
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income	0	0
Net change in fair value of cash flow hedges	0	0
Change in post retirement plan liabilities, after-tax	0	0
Change in foreign currency translation adjustment and other	5	1
Comprehensive income (loss)	50	31
Activity related to restricted common stock awards, net	0	0
Employee stock options, including income tax benefits	0	0
Cash dividends declared	0	0
Noncontrolling interests, net	(2)	(3)
Ending Balance	$ 168	$ 172

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Mar. 31, 2011	Mar. 31, 2010	Dec. 31, 2010
Operating revenues
Less: Transfers between affiliates	$ (35)	$ (39)
Total	10,215	9,259
Net income (loss) attributable to Hess Corporation
Net income (loss) attributable to Hess Corporation by operating segment	929	538
Identifiable assets by operating segment were as follows:
TOTAL ASSETS	36,637		$ 35,396
Segment Information (Textuals) [Abstract]
Excise and Similar Taxes	560	530
Exploration and Production [Member]
Operating revenues
Segment Revenues Gross	2,687	2,141
Net income (loss) attributable to Hess Corporation
Net income (loss) attributable to Hess Corporation by operating segment	979	551
Identifiable assets by operating segment were as follows:
Segment Reporting, Segment Assets	28,816		28,242
Marketing and Refining [Member]
Operating revenues
Segment Revenues Gross	7,563	7,157
Net income (loss) attributable to Hess Corporation
Net income (loss) attributable to Hess Corporation by operating segment	39	87
Identifiable assets by operating segment were as follows:
Segment Reporting, Segment Assets	6,809		6,377
Corporate, including interest [Member]
Net income (loss) attributable to Hess Corporation
Net income (loss) attributable to Hess Corporation by operating segment	(89)	$ (100)
Identifiable assets by operating segment were as follows:
Segment Reporting, Segment Assets	$ 1,012		$ 777

Subsequent Event (Details) $ in Billions	1 Months Ended
Subsequent Event (Details) $ in Billions	Apr. 30, 2011 USD ($)
Subsequent Event (Textuals) [Abstract]
Existing revolving credit facility credit line expiring in May 2012	$ 3
Amended revolving credit facility credit line expiring in April 2016	$ 4