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Document and Entity Information - USD ($)	9 Months Ended
Document and Entity Information - USD ($)	Sep. 30, 2010	Jun. 30, 2009
Document and Entity Information [Abstract]
Entity Registrant Name	HESS CORP
Entity Central Index Key	0000004447
Document Type	10-Q
Document Period End Date	Sep. 30, 2010
Amendment Flag	false
Document Fiscal Year Focus	2010
Document Fiscal Period Focus	Q3
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		$ 17,579,000,000
Entity Common Stock, Shares Outstanding (actual number)	328,497,268

Statement of Consolidated Income (Unaudited) - USD ($)
shares in Thousands, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2010

Sep. 30, 2009

Sep. 30, 2010

Sep. 30, 2009

REVENUES AND NON-OPERATING INCOME

Sales (excluding excise taxes) and other operating revenues

^[1]

$ 7,864

$ 7,270

$ 24,855

$ 20,936

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

(83)

(49)

(174)

(165)

Other, net

1,172

163

1,242

240

Total revenues and non-operating income

8,953

7,384

25,923

21,011

COSTS AND EXPENSES

Cost of products sold (excluding items shown separately below)

5,330

5,069

17,186

14,956

Production expenses

475

460

1,392

1,313

Marketing expenses

232

240

730

742

Exploration expenses, including dry holes and lease impairment

225

167

548

672

Other operating expenses

171

134

General and administrative expenses

151

148

465

444

Interest expense

261

269

Depreciation, depletion and amortization

584

626

1,684

1,616

Asset impairments

532

Total costs and expenses

7,662

6,850

22,969

20,200

INCOME BEFORE INCOME TAXES

1,291

534

2,954

811

Provision for income taxes

200

182

899

374

NET INCOME

1,091

352

2,055

437

Less: Net income (loss) attributable to noncontrolling interests

(63)

(12)

NET INCOME ATTRIBUTABLE TO HESS CORPORATION

$ 1,154

$ 341

$ 2,067

$ 382

NET INCOME PER SHARE ATTRIBUTABLE TO HESS CORPORATION

BASIC

$ 3.54

$ 1.05

$ 6.36

$ 1.18

DILUTED

$ 3.52

$ 1.05

$ 6.31

$ 1.17

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (DILUTED)

327,634

326,038

327,342

325,805

COMMON STOCK DIVIDENDS PER SHARE

$ 0.1

$ 0.3

[1]	Operating revenues exclude excise and similar taxes of approximately $565 million and $525 million in the third quarter of 2010 and 2009, respectively, and $1,650 million and $1,525 million during the first nine months of 2010 and 2009, respectively.

Consolidated Balance Sheet (Unaudited) - USD ($) $ in Millions	Sep. 30, 2010	Dec. 31, 2009
CURRENT ASSETS
Cash and cash equivalents	$ 2,353	$ 1,362
Accounts receivable	3,939	3,924
Inventories	1,682	1,438
Other current assets	865	1,263
Total current assets	8,839	7,987
INVESTMENTS IN AFFILIATES
HOVENSA L.L.C.	508	681
Other	267	232
Total investments in affiliates	775	913
PROPERTY, PLANT AND EQUIPMENT
Total - at cost	33,042	29,871
Less reserves for depreciation, depletion, amortization and lease impairment	13,958	13,244
Property, plant and equipment - net	19,084	16,627
GOODWILL	2,045	1,225
DEFERRED INCOME TAXES	2,470	2,409
OTHER ASSETS	272	304
TOTAL ASSETS	33,485	29,465
CURRENT LIABILITIES
Accounts payable	4,071	4,223
Accrued liabilities	1,916	1,954
Taxes payable	537	525
Short term debt and current maturities of long-term debt	43	148
Total current liabilities	6,567	6,850
LONG-TERM DEBT	5,541	4,319
DEFERRED INCOME TAXES	3,059	2,222
ASSET RETIREMENT OBLIGATIONS	1,336	1,234
OTHER LIABILITIES AND DEFERRED CREDITS	1,154	1,312
Total liabilities	17,657	15,937
Hess Corporation Stockholders' Equity
Common stock, par value $1.00 Authorized 600,000 shares Issued 328,497 shares at September 30, 2010; 327,229 shares at December 31, 2009	328	327
Capital in excess of par value	2,550	2,481
Retained earnings	14,229	12,251
Accumulated other comprehensive income (loss)	(1,377)	(1,675)
Total Hess Corporation stockholders' equity	15,730	13,384
Noncontrolling interests	98	144
Total equity	15,828	13,528
TOTAL LIABILITIES AND EQUITY	$ 33,485	$ 29,465

Consolidated Balance Sheet (Parenthetical) (Unaudited) - USD ($) shares in Thousands	Sep. 30, 2010	Dec. 31, 2009
Hess Corporation Stockholders' Equity
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	600,000	600,000
Common stock, shares issued	328,497	327,229

Statement of Consolidated Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 2,055	$ 437
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation, depletion and amortization	1,684	1,616
Asset impairments	532	54
Exploratory dry hole costs and lease impairment	308	406
Provision (benefit) for deferred income taxes	(242)	(324)
Equity in (income) loss of HOVENSA L.L.C.	174	165
Gains on asset sales	(1,208)	0
Stock compensation expense	84	99
Changes in operating assets and liabilities and other	(335)	(678)
Net cash provided by operating activities	3,052	1,775
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(3,151)	(1,993)
Proceeds from asset sales	183	0
Other, net	(25)	26
Net cash used in investing activities	(2,993)	(1,967)
CASH FLOWS FROM FINANCING ACTIVITIES
Net repayments of debt with maturities of 90 days or less	0	(850)
Debt with maturities of greater than 90 days
Borrowings	1,261	1,247
Repayments	(168)	(38)
Cash dividends paid	(131)	(131)
Other, net	(30)	13
Net cash provided by financing activities	932	241
NET INCREASE IN CASH AND CASH EQUIVALENTS	991	49
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	1,362	908
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 2,353	$ 957

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2010
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 September 30, 2010 and December 31, 2009 and the consolidated results of operations for the three and nine month periods ended September 30, 2010 and 2009 and the consolidated cash flows for the nine month periods ended September 30, 2010 and 2009. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. These 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, 2009. Certain information in the financial statements and notes has been reclassified to conform to the current period presentation. Effective January 1, 2010, the Corporation adopted the amended accounting standards that eliminated the consolidation exception for a qualifying special-purpose entity and changed the analysis necessary to determine whether consolidation of a variable interest entity is required. The adoption of these standards resulted in an increase of approximately $10 million to Property, plant and equipment and a corresponding increase to Long-term debt. The debt was repaid during the first quarter of 2010.

Inventories

9 Months Ended

Sep. 30, 2010

Inventory Abstract

Inventories

2. Inventories

Inventories consist of the following (in millions):


	September 30,			December 31,
	2010			2009
Crude oil and other charge stocks	$	360		$	424
Refined products and natural gas		1,710			1,429
Less: LIFO adjustment		(826	)		(815	)

		1,244			1,038
Merchandise, materials and supplies		438			400

Total inventories	$	1,682		$	1,438

Refining Joint Venture

9 Months Ended

Sep. 30, 2010

Refining Joint Venture [Abstract]

Refining Joint Venture

3. Refining Joint Venture

The Corporation accounts for its investment in HOVENSA L.L.C. (HOVENSA) using the equity method. Summarized financial information for HOVENSA follows (in millions):


	September 30,			December 31,
	2010			2009
Summarized balance sheet
Cash and short-term investments	$	13		$	78
Other current assets		679			580
Net fixed assets		2,011			2,080
Other assets		27			33
Current liabilities		(1,003	)		(953	)
Long-term debt		(616	)		(356	)
Deferred liabilities and credits		(127	)		(137	)

Members’ equity	$	984		$	1,325


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Summarized income statement
Total revenues	$	3,276		$	2,644		$	9,188		$	7,307
Cost and expenses		(3,439	)		(2,741	)		(9,531	)		(7,632	)

Net income (loss)	$	(163	)	$	(97	)	$	(343	)	$	(325	)

Hess Corporation’s share, before income taxes	$	(83	)	$	(49	)	$	(174	)	$	(165	)

Property, Plant and Equipment

9 Months Ended

Sep. 30, 2010

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

Acquisitions and Divestitures: In September 2010, the Corporation completed the exchange of its interests in Gabon and the Clair Field in the United Kingdom for additional interests of 28.1% and 25.0%, respectively, in the Valhall and Hod fields in Norway. This exchange was accounted for as a business combination and was recorded at fair value. The transaction resulted in a pre-tax gain of $1,150 million ($1,072 million after income taxes) which has been included in Other, net in the Statement of Consolidated Income. The total combined carrying amount of the disposed assets prior to the exchange was $702 million, including goodwill of $65 million.

In September 2010, the Corporation also acquired, from a different third party, additional interests of 7.85% and 12.5% in the Valhall and Hod fields, respectively, for $507 million in cash. This transaction was accounted for as a business combination. As a result of these third quarter 2010 transactions, the Corporation’s total interests in the Valhall and Hod fields are 64.05% and 62.50%, respectively.

The following table summarizes the preliminary allocation of the purchase price to the assets and liabilities acquired in these transactions (in millions):


	Exchange			Acquisition			Total
Property, plant and equipment	$	2,090		$	578		$	2,668
Goodwill		667			225			892
Current assets		97			5			102

Total assets acquired		2,854			808			3,662

Current liabilities		(147	)		(22	)		(169	)
Deferred tax liabilities		(667	)		(225	)		(892	)
Asset retirement obligations		(188	)		(54	)		(242	)

Net assets acquired	$	1,852		$	507		$	2,359

The preliminary purchase price allocation is subject to normal post-closing adjustments. The allocation of fair value to assets and liabilities was determined using market-related unobservable inputs, which the Corporation believes are consistent with the view of a market participant and are classified as Level 3 fair value measurements. The goodwill recorded equals the deferred tax liability recognized for the differences in book and tax bases of the assets acquired. The goodwill is not expected to be deductible for income tax purposes. The primary reason for these transactions was to acquire long-lived crude oil reserves and future production growth.

In July 2010, the Corporation agreed to acquire American Oil & Gas Inc. (American Oil & Gas) through the issuance of approximately 8.6 million shares of the Corporation’s common stock in order to increase its acreage position in the Bakken oil play in North Dakota by approximately 85,000 net acres. The transaction, which has been approved by the Boards of Directors of both companies, is subject to certain closing conditions, including the approval of American Oil & Gas shareholders, and is expected to be completed in the fourth quarter of 2010.

Assets Held for Sale: In March 2010, the Corporation entered into an agreement to sell a package of mature, non-operated natural gas production and transportation assets in the United Kingdom North Sea. These transactions are subject to various regulatory and other approvals. The Corporation has classified all of the properties to be disposed of as held for sale. At September 30, 2010, the carrying amount of these assets totalling $237 million was reported in Other current assets. In addition, asset retirement obligations and deferred income taxes totalling $211 million were reported in Accrued liabilities. In accordance with generally accepted accounting principles, properties classified as held for sale are not depreciated but are subject to impairment testing.

Asset Impairments: In September 2010, the Corporation recorded a charge of $532 million ($334 million after income taxes) to fully impair the carrying value of its 55% interest in the West Mediterranean Block 1 concession (West Med Block), located offshore Egypt. This interest was acquired in 2006 and included four natural gas discoveries and additional exploration prospects. The Corporation and its partners subsequently explored and further evaluated the area, made a fifth discovery, conducted development planning, and held negotiations with the Egyptian authorities to amend the existing gas sales agreement. In late September 2010, the Corporation and its partners notified Egyptian authorities of their decision to cease exploration activities on the block and to relinquish a significant portion of the block. As a result, the Corporation fully impaired the carrying value of its interests in the West Med Block. The Corporation’s estimated fair value of the West Med Block was determined using market-related unobservable inputs, which the Corporation believes are consistent with the view of a market participant and are classified as Level 3 fair value measurements.

Capitalized Exploratory Well Costs: The following table discloses the net changes in capitalized exploratory well costs pending determination of proved reserves for the nine months ended September 30, 2010 (in millions):


Balance at January 1	$	1,437
Additions to capitalized exploratory well costs pending the determination of proved reserves		524
Reclassifications to wells, facilities, and equipment based on the determination of proved reserves		(93	)
Capitalized exploratory well costs charged to expense		(28	)

Balance at end of period	$	1,840

Capitalized exploratory well costs charged to expense reported in the table above include $22 million related to the impairment of the West Med Block. The table above excludes $80 million of exploratory well costs which were incurred and subsequently expensed in 2010. Capitalized exploratory well costs greater than one year old after completion of drilling were $1,122 million at September 30, 2010. Approximately 54% of the capitalized well costs in excess of one year relate to the Pony and Tubular Bells projects in the deepwater Gulf of Mexico where development planning is progressing. Approximately 14% relates to Area 54 offshore Libya where commercial analysis and development planning activities are ongoing. Approximately 13% relates to Block WA-390-P offshore Western Australia where further drilling, other appraisal activities and commercial analysis are ongoing. Approximately 7% relates to Block BM-S-22 offshore Brazil where the operator plans to commence drilling a third exploration well in the fourth quarter of 2010. 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.

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2010
Long-Term Debt [Abstract]
Long-Term Debt	5. Long-Term Debt In August 2010, the Corporation issued $1,250 million of 30-year bonds with a coupon of 5.60%. A portion of the proceeds were used to finance the acquisition of the additional interests in the Valhall and Hod fields (see Note 4, “Property, Plant and Equipment”) and the remainder will be used for general corporate purposes. In January 2010, the Corporation completed the purchase of $116 million of bonds, due in August 2011. This transaction resulted in a charge of approximately $11 million ($7 million after income taxes).

Foreign Currency Translation

9 Months Ended

Sep. 30, 2010

Foreign Currency Abstract

Foreign Currency Translation

6. Foreign Currency Translation

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


	Three Months				Nine Months
	Ended September 30,				Ended September 30,
	2010		2009		2010			2009
Pre-tax foreign currency gains (losses)	$	5	$	1	$	(10	)	$	32

Retirement Plans

9 Months Ended

Sep. 30, 2010

Retirement Plans [Abstract]

Retirement Plans

7. Retirement Plans

Components of net periodic pension cost consisted of the following (in millions):


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Service cost	$	12		$	9		$	36		$	29
Interest cost		22			19			66			59
Expected return on plan assets		(21	)		(12	)		(63	)		(42	)
Amortization of net loss		12			17			36			45

Pension expense	$	25		$	33		$	75		$	91

In 2010, the Corporation expects to contribute approximately $190 million to its pension plans. Through September 30, 2010, the Corporation had contributed $178 million to its pension plans.

Risk Management and Trading Activities

9 Months Ended

Sep. 30, 2010

Risk Management and Trading Activities [Abstract]

Risk Management and Trading Activities

8. 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 these activities are referred to as energy marketing and risk management activities. The Corporation also has trading operations, principally through a 50% voting interest in a consolidated partnership, that are exposed to commodity price risks primarily related to the prices of crude oil, natural gas 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 a closed position 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 at September 30, 2010:


	September 30,		December 31,
	2010		2009
Commodity Contracts
Crude oil and refined products (millions of barrels)		36		34
Natural gas (millions of mcf)		2,182		1,876
Electricity (millions of megawatt hours)		238		166

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, supply contract purchases are recognized in Cost of products sold 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 on derivative contracts not designated as hedges amounted to $50 million and $5 million for the three months ended September 30, 2010 and 2009, respectively, and $162 million and $86 million for the nine months ended September 30, 2010 and 2009, respectively.

At September 30, 2010, 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 two years or less. For contracts outstanding at September 30, 2010, the maximum duration was four 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 September 30, 2010, the after-tax deferred losses relating to energy marketing activities recorded in Accumulated other comprehensive income were $239 million ($303 million at December 31, 2009). The Corporation estimates that approximately $167 million of this amount will be reclassified into earnings over the next twelve months. During the three months ended September 30, 2010 and 2009, the Corporation reclassified losses on an after-tax basis from Accumulated other comprehensive income of $56 million and $199 million, respectively, and $257 million and $453 million for the nine months ended September 30, 2010 and 2009, respectively. The amount reflected in earnings due to hedge ineffectiveness was a gain of less than $1 million for both the three months ended September 30, 2010 and 2009, respectively, and a gain of less than $1 million and a loss of $1 million for the nine months ended September 30, 2010 and 2009, respectively. The fair value of energy marketing cash flow hedge positions decreased by $34 million and $83 million for the three months ended September 30, 2010 and 2009, respectively, and $193 million and $519 million for the nine months ended September 30, 2010 and 2009, respectively. The pre-tax amount of deferred hedge losses is reflected in Accounts payable and the related income tax benefits are recorded as Deferred income tax assets on the balance sheet.

Corporate Risk Management: Corporate risk management activities include transactions designed to reduce risk in the selling prices of crude oil 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 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. The Corporation has executed interest rate swaps 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:


	September 30,		December 31,
	2010		2009
Commodity contracts, primarily crude oil (millions of barrels)		40		54
Foreign exchange (millions of U.S. dollars)		1,001		872
Interest rate swaps (millions of U.S. dollars)		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 September 30, 2010. Hedging activities decreased Exploration and Production Sales and other operating revenue by $134 million for both the three month periods ended September 30, 2010 and 2009 and $398 million for both the nine month periods ended September 30, 2010 and 2009.

At September 30, 2010, the after-tax deferred losses in Accumulated other comprehensive income relating to the closed Brent crude oil hedges were $720 million ($941 million at December 31, 2009). The Corporation estimates that approximately $335 million of this amount will be reclassified into earnings over the next twelve months. The pre-tax amount of deferred hedge losses is reflected in Accounts payable and the related income tax benefits are recorded as Deferred income tax assets on the balance sheet.

The Corporation designates interest rate swaps as fair value hedges. Changes in the fair value of interest rate swaps and the hedged fixed rate debt are recorded in Interest expense. For the three and nine months ended September 30, 2010, the Corporation recorded an increase of $4 million and $13 million, respectively, in the fair value of interest rate swaps and a corresponding increase 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 (in millions):


	Three Months					Nine Months
	Ended September 30,					Ended September 30,
	2010		2009			2010			2009
Commodity	$	—	$	1		$	(7	)	$	8
Foreign exchange		48		(24	)		(4	)		83

Total	$	48	$	(23	)	$	(11	)	$	91

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 commodities, securities and derivatives. The Corporation also takes trading positions for its own account.

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


	September 30,		December 31,
	2010		2009
Commodity Contracts
Crude oil and refined products (millions of barrels)		3,370		2,251
Natural gas (millions of mcf)		5,715		6,927
Electricity (millions of megawatt hours)		47		6
Other Contracts (millions of U.S. dollars)
Interest rate		260		495
Foreign exchange		428		335

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


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Commodity	$	(118	)	$	49		$	26		$	149
Foreign exchange		2			(11	)		8			19
Interest rate and other		12			(3	)		(5	)		12

Total	$	(104	)	$	35		$	29		$	180

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 financial assets and (liabilities) that are measured at fair value based on this hierarchy (in millions):


										Collateral and
										counterparty
	Level 1			Level 2			Level 3			netting			Balance
September 30, 2010

Assets
Derivative contracts
Commodity	$	203		$	1,119		$	724		$	(40	)	$	2,006
Foreign exchange		—			13			—			—			13
Other		—			16			1			—			17
Collateral and counterparty netting		(106	)		(160	)		(22	)		(187	)		(475	)

Total derivative contracts		97			988			703			(227	)		1,561
Other assets measured at fair value on a recurring basis		26			—			1			(1	)		26

Total assets	$	123		$	988		$	704		$	(228	)	$	1,587


Liabilities
Derivative contracts
Commodity	$	(393	)	$	(2,466	)	$	(422	)	$	43		$	(3,238	)
Foreign exchange		—			(6	)		—			—			(6	)
Other		—			(7	)		—			—			(7	)
Collateral and counterparty netting		106			160			22			5			293

Total derivative contracts		(287	)		(2,319	)		(400	)		48			(2,958	)
Other liabilities measured at fair value on a recurring basis		—			(7	)		—			1			(6	)

Total liabilities	$	(287	)	$	(2,326	)	$	(400	)	$	49		$	(2,964	)


										Collateral and
										counterparty
	Level 1			Level 2			Level 3			netting			Balance
December 31, 2009

Assets
Derivative contracts
Commodity	$	46		$	1,137		$	119		$	(40	)	$	1,262
Other		—			3			—			—			3
Collateral and counterparty netting		—			(1	)		—			(326	)		(327	)

Total derivative contracts		46			1,139			119			(366	)		938
Other assets measured at fair value on a recurring basis		37			21			5			—			63

Total assets	$	83		$	1,160		$	124		$	(366	)	$	1,001


Liabilities
Derivative contracts
Commodity	$	(151	)	$	(2,880	)	$	(36	)	$	40		$	(3,027	)
Foreign exchange		—			(23	)		—			—			(23	)
Other		—			(8	)		—			—			(8	)
Collateral and counterparty netting		—			1			—			280			281

Total derivative contracts		(151	)		(2,910	)		(36	)		320			(2,777	)
Other liabilities measured at fair value on a recurring basis		—			(66	)		(4	)		—			(70	)

Total liabilities	$	(151	)	$	(2,976	)	$	(40	)	$	320		$	(2,847	)

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


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Balance at beginning of period	$	41		$	(215	)	$	84		$	149
Unrealized gains (losses)
Included in earnings		105			(61	)		163			93
Included in other comprehensive income		(18	)		31			62			(187	)
Purchases, sales or other settlements during the period		(51	)		(12	)		(9	)		(226	)
Transfers into Level 3		215			4			57			1
Transfers out of Level 3		12			(1	)		(53	)		(84	)

Balance at end of period	$	304		$	(254	)	$	304		$	(254	)

Effective January 1, 2010, the Corporation’s policy is to recognize transfers in and transfers out as of the end of the reporting period. During the nine months ended September 30, 2010, transfers into Level 1 and Level 2 were net assets of $123 million and $121 million, respectively, and transfers out of Level 1 and Level 2 were net assets of $23 million and net liabilities of $271 million, respectively. Transfers into Level 1 and transfers into Level 2 primarily resulted from instruments that became more actively traded as they moved closer to maturity and moved out of Levels 2 and 3, respectively. The remaining transfers into Level 2 and all transfers into Level 3 were due to the increased significance of the lower level inputs to the instrument’s fair value, causing those instruments to move out of Levels 1 and 2.

In addition to the financial assets and liabilities disclosed in the tables on pages 12 and 13, 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 September 30, 2010 and December 31, 2009. Long-term debt had a carrying value of $5,574 million compared with a fair value of $6,650 million at September 30, 2010, and a carrying value of $4,467 million compared with a fair value of $5,073 million at December 31, 2009.

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


	Accounts			Accounts
	Receivable			Payable
September 30, 2010

Derivative contracts designated as hedging instruments
Commodity	$	460		$	(822	)
Other		13			(1	)

Total derivative contracts designated as hedging instruments		473			(823	)


Derivative contracts not designated as hedging instruments
Commodity		10,946			(11,816	)
Foreign exchange		20			(13	)
Other		22			(24	)

Total derivative contracts not designated as hedging instruments		10,988			(11,853	)


Gross fair value of derivative contracts		11,461			(12,676	)
Master netting arrangements		(9,713	)		9,713
Cash collateral (received) posted		(187	)		5

Net fair value of derivative contracts	$	1,561		$	(2,958	)


December 31, 2009

Derivative contracts designated as hedging instruments
Commodity	$	748		$	(1,166	)


Derivative contracts not designated as hedging instruments
Commodity		9,145			(10,493	)
Foreign exchange		3			(26	)
Other		12			(14	)

Total derivative contracts not designated as hedging instruments		9,160			(10,533	)


Gross fair value of derivative contracts		9,908			(11,699	)
Master netting arrangements		(8,653	)		8,653
Cash collateral (received) posted		(317	)		269

Net fair value of derivative contracts	$	938		$	(2,777	)

Credit Risk: The Corporation is exposed to credit risks that may at times be concentrated with certain counterparties or groups of counterparties. Accounts receivable are generated from a diverse domestic and international customer base. The Corporation’s net receivables at September 30, 2010 are concentrated with counterparties as follows: Integrated Oil Companies – 23%, Government Entities – 13%, Manufacturing – 12% and Education and Health Services – 11%. 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 September 30, 2010 and December 31, 2009, the Corporation is holding cash from counterparties of $187 million and $317 million, respectively. The Corporation has posted cash to counterparties at September 30, 2010 and December 31, 2009 of $5 million and $269 million, respectively.

At September 30, 2010, the Corporation had a total of $2,540 million of outstanding letters of credit, primarily issued to satisfy margin and collateral 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 September 30, 2010, the net liability related to derivatives with contingent collateral provisions was approximately $1,858 million before cash collateral posted of approximately $0.3 million. At September 30, 2010, 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 September 30, 2010, the Corporation would be required to post additional collateral of approximately $337 million.

Weighted Average Common Shares

9 Months Ended

Sep. 30, 2010

Weighted Average Common Shares [Abstract]

Weighted Average Common Shares

9. Weighted Average Common Shares

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


	Three Months				Nine Months
	Ended September 30,				Ended September 30,
	2010		2009		2010		2009
Common shares – basic		325,452		324,066		325,166		323,796
Effect of dilutive securities
Restrictive common stock		1,369		1,213		1,354		1,163
Stock options		813		759		822		846

Common shares – diluted		327,634		326,038		327,342		325,805

The Corporation issued 2,768,715 stock options and 944,250 shares of restricted stock in the nine months ended September 30, 2010 (3,091,080 and 1,041,530 shares, respectively, for the same period in 2009). The table above excludes the effect of 8,932,000 shares and 5,797,000 shares related to out-of-the money options for the three and nine months ended September 30, 2010, respectively (3,533,000 and 3,893,000 shares, respectively, for the same periods in 2009).

Equity and Comprehensive Income

9 Months Ended

Sep. 30, 2010

Equity and Comprehensive Income [Abstract]

Equity and Comprehensive Income

10. Equity and Comprehensive Income

The table below summarizes changes in equity (in millions):


	Hess			Non-
	Stockholders’			controlling
	Equity			Interests			Total Equity
Balance January 1, 2010	$	13,384		$	144		$	13,528

Net income		2,067			(12	)		2,055
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income		508			—			508
Net change in fair value of cash flow hedges		(226	)		—			(226	)
Change in post retirement plan liabilities, after-tax		24			—			24
Change in foreign currency translation adjustment and other		(8	)		2			(6	)

Comprehensive income (loss)		2,365			(10	)		2,355

Activity related to restricted common stock awards, net		44			—			44
Employee stock options, including income tax benefits		54			—			54
Cash dividends declared		(98	)		—			(98	)
Noncontrolling interests, net		(19	)		(36	)		(55	)

Balance September 30, 2010	$	15,730		$	98		$	15,828


Balance January 1, 2009	$	12,307		$	84		$	12,391

Net income		382			55			437
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income		701			—			701
Net change in fair value of cash flow hedges		(656	)		—			(656	)
Change in post retirement plan liabilities, after-tax		27			—			27
Change in foreign currency translation adjustment and other		109			(4	)		105

Comprehensive income (loss)		563			51			614

Activity related to restricted common stock awards, net		46			—			46
Employee stock options, including income tax benefits		56			—			56
Cash dividends declared		(98	)		—			(98	)
Noncontrolling interests, net		—			(2	)		(2	)

Balance September 30, 2009	$	12,874		$	133		$	13,007

Segment Information

9 Months Ended

Sep. 30, 2010

Segment Information [Abstract]

Segment Information

11. Segment Information

The Corporation’s results by operating segment were as follows (in millions):


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Operating revenues
Exploration and Production	$	2,368		$	1,858		$	6,761		$	4,885
Marketing and Refining		5,535			5,435			18,205			16,128
Less: Transfers between affiliates		(39	)		(23	)		(111	)		(77	)

Total(*)	$	7,864		$	7,270		$	24,855		$	20,936


Net income (loss) attributable to Hess Corporation
Exploration and Production	$	1,277		$	397		$	2,316		$	548
Marketing and Refining		(38	)		38			30			110
Corporate, including interest		(85	)		(94	)		(279	)		(276	)

Total	$	1,154		$	341		$	2,067		$	382


(*)		Operating revenues exclude excise and similar taxes of approximately $565 million and $525 million in the third quarter of 2010 and 2009, respectively, and $1,650 million and $1,525 million during the first nine months of 2010 and 2009, respectively.

Identifiable assets by operating segment were as follows (in millions):


	September 30,		December 31,
	2010		2009
Exploration and Production	$	25,280	$	21,810
Marketing and Refining		6,258		6,388
Corporate		1,947		1,267

Total	$	33,485	$	29,465

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2010
Basis of Presentation (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 September 30, 2010 and December 31, 2009 and the consolidated results of operations for the three and nine month periods ended September 30, 2010 and 2009 and the consolidated cash flows for the nine month periods ended September 30, 2010 and 2009. The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year. These 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, 2009. Certain information in the financial statements and notes has been reclassified to conform to the current period presentation. Effective January 1, 2010, the Corporation adopted the amended accounting standards that eliminated the consolidation exception for a qualifying special-purpose entity and changed the analysis necessary to determine whether consolidation of a variable interest entity is required. The adoption of these standards resulted in an increase of approximately $10 million to Property, plant and equipment and a corresponding increase to Long-term debt. The debt was repaid during the first quarter of 2010.

Inventories (Tables)

9 Months Ended

Sep. 30, 2010

Inventories (Tables) [Abstract]

Inventories


	September 30,			December 31,
	2010			2009
Crude oil and other charge stocks	$	360		$	424
Refined products and natural gas		1,710			1,429
Less: LIFO adjustment		(826	)		(815	)

		1,244			1,038
Merchandise, materials and supplies		438			400

Total inventories	$	1,682		$	1,438

Refining Joint Venture (Tables)

9 Months Ended

Sep. 30, 2010

Refining Joint Venture (Tables) [Abstract]

Summarized balance sheet


	September 30,			December 31,
	2010			2009
Summarized balance sheet
Cash and short-term investments	$	13		$	78
Other current assets		679			580
Net fixed assets		2,011			2,080
Other assets		27			33
Current liabilities		(1,003	)		(953	)
Long-term debt		(616	)		(356	)
Deferred liabilities and credits		(127	)		(137	)

Members’ equity	$	984		$	1,325

Summarized income statement


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Summarized income statement
Total revenues	$	3,276		$	2,644		$	9,188		$	7,307
Cost and expenses		(3,439	)		(2,741	)		(9,531	)		(7,632	)

Net income (loss)	$	(163	)	$	(97	)	$	(343	)	$	(325	)

Hess Corporation’s share, before income taxes	$	(83	)	$	(49	)	$	(174	)	$	(165	)

Property Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2010

Property, Plant and Equipment (Tables) [Abstarct]

Summary of the allocation of the purchase price to the assets and liabilities acquired in a business combination


	Exchange			Acquisition			Total
Property, plant and equipment	$	2,090		$	578		$	2,668
Goodwill		667			225			892
Current assets		97			5			102

Total assets acquired		2,854			808			3,662

Current liabilities		(147	)		(22	)		(169	)
Deferred tax liabilities		(667	)		(225	)		(892	)
Asset retirement obligations		(188	)		(54	)		(242	)

Net assets acquired	$	1,852		$	507		$	2,359

Net changes in capitalized exploratory well costs


Balance at January 1	$	1,437
Additions to capitalized exploratory well costs pending the determination of proved reserves		524
Reclassifications to wells, facilities, and equipment based on the determination of proved reserves		(93	)
Capitalized exploratory well costs charged to expense		(28	)

Balance at end of period	$	1,840

Foreign Currency Translation (Tables)

9 Months Ended

Sep. 30, 2010

Foreign Currency Translation (Tables) [Abstract]

Pre-tax foreign currency gains (losses)


	Three Months				Nine Months
	Ended September 30,				Ended September 30,
	2010		2009		2010			2009
Pre-tax foreign currency gains (losses)	$	5	$	1	$	(10	)	$	32

Retirement Plans (Tables)

9 Months Ended

Sep. 30, 2010

Retirement Plans (Tables) [Abstract]

Components of net periodic pension cost


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Service cost	$	12		$	9		$	36		$	29
Interest cost		22			19			66			59
Expected return on plan assets		(21	)		(12	)		(63	)		(42	)
Amortization of net loss		12			17			36			45

Pension expense	$	25		$	33		$	75		$	91

Risk Management and Trading Activities (Tables)

9 Months Ended

Sep. 30, 2010

Risk Management and Trading Activities (Tables) [Abstract]

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


	September 30,		December 31,
	2010		2009
Commodity Contracts
Crude oil and refined products (millions of barrels)		36		34
Natural gas (millions of mcf)		2,182		1,876
Electricity (millions of megawatt hours)		238		166

Gross volume of the Corporate risk management derivative instruments outstanding


	September 30,		December 31,
	2010		2009
Commodity contracts, primarily crude oil (millions of barrels)		40		54
Foreign exchange (millions of U.S. dollars)		1,001		872
Interest rate swaps (millions of U.S. dollars)		310		—

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


	Three Months					Nine Months
	Ended September 30,					Ended September 30,
	2010		2009			2010			2009
Commodity	$	—	$	1		$	(7	)	$	8
Foreign exchange		48		(24	)		(4	)		83

Total	$	48	$	(23	)	$	(11	)	$	91

Gross volume of the corporation's trading derivative instruments outstanding


	September 30,		December 31,
	2010		2009
Commodity Contracts
Crude oil and refined products (millions of barrels)		3,370		2,251
Natural gas (millions of mcf)		5,715		6,927
Electricity (millions of megawatt hours)		47		6
Other Contracts (millions of U.S. dollars)
Interest rate		260		495
Foreign exchange		428		335

Pre-tax gains (losses) from trading activities


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Commodity	$	(118	)	$	49		$	26		$	149
Foreign exchange		2			(11	)		8			19
Interest rate and other		12			(3	)		(5	)		12

Total	$	(104	)	$	35		$	29		$	180

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


										Collateral and
										counterparty
	Level 1			Level 2			Level 3			netting			Balance
September 30, 2010

Assets
Derivative contracts
Commodity	$	203		$	1,119		$	724		$	(40	)	$	2,006
Foreign exchange		—			13			—			—			13
Other		—			16			1			—			17
Collateral and counterparty netting		(106	)		(160	)		(22	)		(187	)		(475	)

Total derivative contracts		97			988			703			(227	)		1,561
Other assets measured at fair value on a recurring basis		26			—			1			(1	)		26

Total assets	$	123		$	988		$	704		$	(228	)	$	1,587


Liabilities
Derivative contracts
Commodity	$	(393	)	$	(2,466	)	$	(422	)	$	43		$	(3,238	)
Foreign exchange		—			(6	)		—			—			(6	)
Other		—			(7	)		—			—			(7	)
Collateral and counterparty netting		106			160			22			5			293

Total derivative contracts		(287	)		(2,319	)		(400	)		48			(2,958	)
Other liabilities measured at fair value on a recurring basis		—			(7	)		—			1			(6	)

Total liabilities	$	(287	)	$	(2,326	)	$	(400	)	$	49		$	(2,964	)


										Collateral and
										counterparty
	Level 1			Level 2			Level 3			netting			Balance
December 31, 2009

Assets
Derivative contracts
Commodity	$	46		$	1,137		$	119		$	(40	)	$	1,262
Other		—			3			—			—			3
Collateral and counterparty netting		—			(1	)		—			(326	)		(327	)

Total derivative contracts		46			1,139			119			(366	)		938
Other assets measured at fair value on a recurring basis		37			21			5			—			63

Total assets	$	83		$	1,160		$	124		$	(366	)	$	1,001


Liabilities
Derivative contracts
Commodity	$	(151	)	$	(2,880	)	$	(36	)	$	40		$	(3,027	)
Foreign exchange		—			(23	)		—			—			(23	)
Other		—			(8	)		—			—			(8	)
Collateral and counterparty netting		—			1			—			280			281

Total derivative contracts		(151	)		(2,910	)		(36	)		320			(2,777	)
Other liabilities measured at fair value on a recurring basis		—			(66	)		(4	)		—			(70	)

Total liabilities	$	(151	)	$	(2,976	)	$	(40	)	$	320		$	(2,847	)

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


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Balance at beginning of period	$	41		$	(215	)	$	84		$	149
Unrealized gains (losses)
Included in earnings		105			(61	)		163			93
Included in other comprehensive income		(18	)		31			62			(187	)
Purchases, sales or other settlements during the period		(51	)		(12	)		(9	)		(226	)
Transfers into Level 3		215			4			57			1
Transfers out of Level 3		12			(1	)		(53	)		(84	)

Balance at end of period	$	304		$	(254	)	$	304		$	(254	)

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


	Accounts			Accounts
	Receivable			Payable
September 30, 2010

Derivative contracts designated as hedging instruments
Commodity	$	460		$	(822	)
Other		13			(1	)

Total derivative contracts designated as hedging instruments		473			(823	)


Derivative contracts not designated as hedging instruments
Commodity		10,946			(11,816	)
Foreign exchange		20			(13	)
Other		22			(24	)

Total derivative contracts not designated as hedging instruments		10,988			(11,853	)


Gross fair value of derivative contracts		11,461			(12,676	)
Master netting arrangements		(9,713	)		9,713
Cash collateral (received) posted		(187	)		5

Net fair value of derivative contracts	$	1,561		$	(2,958	)


December 31, 2009

Derivative contracts designated as hedging instruments
Commodity	$	748		$	(1,166	)


Derivative contracts not designated as hedging instruments
Commodity		9,145			(10,493	)
Foreign exchange		3			(26	)
Other		12			(14	)

Total derivative contracts not designated as hedging instruments		9,160			(10,533	)


Gross fair value of derivative contracts		9,908			(11,699	)
Master netting arrangements		(8,653	)		8,653
Cash collateral (received) posted		(317	)		269

Net fair value of derivative contracts	$	938		$	(2,777	)

Weighted Average Common Shares (Tables)

9 Months Ended

Sep. 30, 2010

Weighted Average Common Shares (Tables) [Abstract]

Weighted average number of shares outstanding - basic and diluted


	Three Months				Nine Months
	Ended September 30,				Ended September 30,
	2010		2009		2010		2009
Common shares – basic		325,452		324,066		325,166		323,796
Effect of dilutive securities
Restrictive common stock		1,369		1,213		1,354		1,163
Stock options		813		759		822		846

Common shares – diluted		327,634		326,038		327,342		325,805

Equity and Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2010

Equity and Comprehensive Income (Tables) [Abstract]

Changes in Equity


	Hess			Non-
	Stockholders’			controlling
	Equity			Interests			Total Equity
Balance January 1, 2010	$	13,384		$	144		$	13,528

Net income		2,067			(12	)		2,055
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income		508			—			508
Net change in fair value of cash flow hedges		(226	)		—			(226	)
Change in post retirement plan liabilities, after-tax		24			—			24
Change in foreign currency translation adjustment and other		(8	)		2			(6	)

Comprehensive income (loss)		2,365			(10	)		2,355

Activity related to restricted common stock awards, net		44			—			44
Employee stock options, including income tax benefits		54			—			54
Cash dividends declared		(98	)		—			(98	)
Noncontrolling interests, net		(19	)		(36	)		(55	)

Balance September 30, 2010	$	15,730		$	98		$	15,828


Balance January 1, 2009	$	12,307		$	84		$	12,391

Net income		382			55			437
Deferred gains (losses) on cash flow hedges, after-tax
Effect of hedge losses recognized in income		701			—			701
Net change in fair value of cash flow hedges		(656	)		—			(656	)
Change in post retirement plan liabilities, after-tax		27			—			27
Change in foreign currency translation adjustment and other		109			(4	)		105

Comprehensive income (loss)		563			51			614

Activity related to restricted common stock awards, net		46			—			46
Employee stock options, including income tax benefits		56			—			56
Cash dividends declared		(98	)		—			(98	)
Noncontrolling interests, net		—			(2	)		(2	)

Balance September 30, 2009	$	12,874		$	133		$	13,007

Segment Information (Tables)

9 Months Ended

Sep. 30, 2010

Segment Information (Tables) [Abstract]

Operating revenues by operating segment


	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2010			2009			2010			2009
Operating revenues
Exploration and Production	$	2,368		$	1,858		$	6,761		$	4,885
Marketing and Refining		5,535			5,435			18,205			16,128
Less: Transfers between affiliates		(39	)		(23	)		(111	)		(77	)

Total(*)	$	7,864		$	7,270		$	24,855		$	20,936


(*)		Operating revenues exclude excise and similar taxes of approximately $565 million and $525 million in the third quarter of 2010 and 2009, respectively, and $1,650 million and $1,525 million during the first nine months of 2010 and 2009, respectively.

Net income (loss) attributable to Hess Corporation by Operating Segment


Net income (loss) attributable to Hess Corporation
Exploration and Production	$	1,277		$	397		$	2,316		$	548
Marketing and Refining		(38	)		38			30			110
Corporate, including interest		(85	)		(94	)		(279	)		(276	)

Total	$	1,154		$	341		$	2,067		$	382

Identifiable assets by operating segment


	September 30,		December 31,
	2010		2009
Exploration and Production	$	25,280	$	21,810
Marketing and Refining		6,258		6,388
Corporate		1,947		1,267

Total	$	33,485	$	29,465

Basis of Presentation (Details) $ in Millions	9 Months Ended
Basis of Presentation (Details) $ in Millions	Sep. 30, 2010 USD ($)
Basis of Presentation (Textuals)
Increase in property, plant and equipment due to adoption of accounting standards	$ 10
Increase in long-term debt due to adoption of accounting standards	$ 10

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2010	Dec. 31, 2009
Inventories
Crude oil and other charge stocks	$ 360	$ 424
Refined products and natural gas	1,710	1,429
Less: LIFO adjustment	(826)	(815)
Total crude, natural gas and refined product inventories	1,244	1,038
Merchandise, materials and supplies	438	400
Total inventories	$ 1,682	$ 1,438

Refining Joint Venture (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Refining Joint Venture (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009	Dec. 31, 2009
Summarized balance sheet
Other current assets	$ (865)		$ (865)		$ (1,263)
Net fixed assets	(19,084)		(19,084)		(16,627)
Other assets	(272)		(272)		(304)
Current liabilities	6,567		6,567		6,850
Deferred liabilities and credits	1,154		1,154		1,312
Equity method [Member]
Summarized balance sheet
Cash and short-term investments	13		13		78
Other current assets	679		679		580
Net fixed assets	2,011		2,011		2,080
Other assets	27		27		33
Current liabilities	(1,003)		(1,003)		(953)
Long-term debt	(616)		(616)		(356)
Deferred liabilities and credits	(127)		(127)		(137)
Members' equity	984		984		$ 1,325
Summarized income statement
Total revenues	3,276	$ 2,644	9,188	$ 7,307
Cost and expenses	(3,439)	(2,741)	(9,531)	(7,632)
Net income (loss)	(163)	(97)	(343)	(325)
Hess Corporation's share, before income taxes	$ (83)	$ (49)	$ (174)	$ (165)

Property, Plant and Equipment (Details) shares in Millions	3 Months Ended		9 Months Ended
Property, Plant and Equipment (Details) shares in Millions	Sep. 30, 2010 USD ($)	Sep. 30, 2009 USD ($)	Sep. 30, 2010 USD ($)	Sep. 30, 2009 USD ($)	Jul. 31, 2010 shares
Net changes in capitalized exploratory well costs
Balance at January 1			$ 1,437,000,000
Additions to capitalized exploratory well costs pending the determination of proved reserves			524,000,000
Reclassifications to wells, facilities, and equipment based on the determination of proved reserves			(93,000,000)
Capitalized exploratory well costs charged to expense			(28,000,000)
Balance at end of period	$ 1,840,000,000		1,840,000,000
Summary of the allocation of the purchase price to the assets and liabilities acquired in a business combination
Property, plant and equipment	2,668,000,000		2,668,000,000
Goodwill	892,000,000		892,000,000
Current assets	102,000,000		102,000,000
Total assets acquired	3,662,000,000		3,662,000,000
Current liabilities	(169,000,000)		(169,000,000)
Deferred tax liabilities	(892,000,000)		(892,000,000)
Asset retirement obligations	(242,000,000)		(242,000,000)
Net assets acquired	2,359,000,000		2,359,000,000
Property, Plant and Equipment (Textuals)
Carrying amount of assets held for sale	237,000,000		237,000,000
Asset retirement obligations and deferred income taxes related to assets held for sale	211,000,000		211,000,000
Gain on asset exchange before tax	1,150,000,000		1,150,000,000
Gain on asset exchange after tax	1,072,000,000		1,072,000,000
Carrying value of asset before asset exchange	702,000,000		702,000,000
Business divestiture goodwill amount	65,000,000		65,000,000
The purchase price for the acquistion of additional interests in oil and gas fields	507,000,000		507,000,000
Impariment charge	532,000,000	$ 0	532,000,000	$ 54,000,000
Impairment charge, net of tax	334,000,000		$ 334,000,000
Four oil and gas wells			Four
The Corporation's proportionate interests in oil and gas properties			55.00%
Addition of an oil and gas well			Fifth
Costs related to exploratory dry holes incurred in current year			$ 80,000,000
Capitalized exploratory well costs, one year or more	1,122,000,000		$ 1,122,000,000
Capitalized well costs attributable to Pony and Tubular Bells projects			0.54
Capitalized well costs attributable to Area 54 offshore Libya			14.00%
Capitalized well costs attributable to Block WA-390-P offshore Western Australia			0.13
Capitalized well costs attributable to Block BM-S-22 offshore Brazil			7.00%
Property, Plant and Equipment (Textuals)
Capitalized exploratory well costs charged to expense			$ (28,000,000)
ValHall [Member]
Property, Plant and Equipment (Textuals)
Additional interests acquired through asset exchange	$ 0.281		$ 0.281
Acquisition of additional interests in oil and gas fields	7.85%		7.85%
The Corporation's interests in oil and gas fields after asset acquisition	0.6405		0.6405
Hod fields [Member]
Property, Plant and Equipment (Textuals)
Additional interests acquired through asset exchange	$ 0.25		$ 0.25
Acquisition of additional interests in oil and gas fields	12.50%		12.50%
The Corporation's interests in oil and gas fields after asset acquisition	0.625		0.625
American Oil and Gas [Member]
Property, Plant and Equipment (Textuals)
Acquisition through the issuance of common stock (in millions) \| shares					8.6
Corporation's net acreage position					85,000
Acquisition [Member]
Summary of the allocation of the purchase price to the assets and liabilities acquired in a business combination
Property, plant and equipment	$ 578,000,000		$ 578,000,000
Goodwill	225,000,000		225,000,000
Current assets	5,000,000		5,000,000
Total assets acquired	808,000,000		808,000,000
Current liabilities	(22,000,000)		(22,000,000)
Deferred tax liabilities	(225,000,000)		(225,000,000)
Asset retirement obligations	(54,000,000)		(54,000,000)
Net assets acquired	507,000,000		507,000,000
Exchange [Member]
Summary of the allocation of the purchase price to the assets and liabilities acquired in a business combination
Property, plant and equipment	2,090,000,000		2,090,000,000
Goodwill	667,000,000		667,000,000
Current assets	97,000,000		97,000,000
Total assets acquired	2,854,000,000		2,854,000,000
Current liabilities	(147,000,000)		(147,000,000)
Deferred tax liabilities	(667,000,000)		(667,000,000)
Asset retirement obligations	(188,000,000)		(188,000,000)
Net assets acquired	$ 1,852,000,000		1,852,000,000
West Med Block [Member]
Net changes in capitalized exploratory well costs
Capitalized exploratory well costs charged to expense			22,000,000
Property, Plant and Equipment (Textuals)
Capitalized exploratory well costs charged to expense			$ 22,000,000

Long-Term Debt (Details) - USD ($) $ in Millions	1 Months Ended
Long-Term Debt (Details) - USD ($) $ in Millions	Jan. 31, 2010	Aug. 31, 2010
Long-Term Debt (Textuals)
Purchase of 2011 bonds	$ 116
Charges of redemption	11
Charges of redemption, net	$ 7
Thirty Year [Member]
Long-Term Debt (Textuals)
Senior unsecured notes		$ 1,250
Coupon rate of 30 year bonds		5.60%

Foreign Currency Translation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009
Pre-tax foreign currency gains (losses)
Pre-tax foreign currency gains (losses)	$ 5	$ 1	$ (10)	$ 32

Retirement Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
Retirement Plans (Details) - USD ($) $ in Millions	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009	Dec. 31, 2010
Components of net periodic pension cost
Service cost	$ 12	$ 9	$ 36	$ 29
Interest cost	22	19	66	59
Expected return on plan assets	(21)	(12)	(63)	(42)
Amortization of net loss	12	17	36	45
Pension expense	$ 25	$ 33	75	$ 91
Retirement Plans (Textuals)
Corporation expects to contribute to its pension plan in 2010					$ 190
Corporation contributed to its pension plan			$ 178

Risk Management and Trading Activities (Details) $ in Millions	Sep. 30, 2010 USD ($)	Dec. 31, 2009 USD ($)
Gross volume of derivative instruments outstanding relating to trading activities [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Interest rate swaps (millions of U.S. dollars)	$ 260	$ 495
Foreign exchange (millions of U.S. dollars)	428	335
Gross Volume of the corporate risk management derivative instruments outstanding [Member]
Gross volume of the Corporation's derivative contracts and instruments outstanding
Interest rate swaps (millions of U.S. dollars)	310	0
Foreign exchange (millions of U.S. dollars)	$ 1,001	$ 872
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	3,370	2,251
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	36	34
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	40	54
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	5,715	6,927
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	2,182	1,876
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	47	6
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	238	166

Risk Management and Trading Activities (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009
Trading Activities [Member]
Pre-tax gains (losses) from trading activities
Pre-tax gains (losses) from trading activities	$ (104)	$ 35	$ 29	$ 180
Trading Activities [Member] \| Interest rate and Other [Member]
Pre-tax gains (losses) from trading activities
Pre-tax gains (losses) from trading activities	12	(3)	(5)	12
Trading Activities [Member] \| Commodity [Member]
Pre-tax gains (losses) from trading activities
Pre-tax gains (losses) from trading activities	(118)	49	26	149
Trading Activities [Member] \| Foreign Exchange [Member]
Pre-tax gains (losses) from trading activities
Pre-tax gains (losses) from trading activities	2	(11)	8	19
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	48	(23)	(11)	91
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	0	1	(7)	8
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	$ 48	$ (24)	$ (4)	$ 83

Risk Management and Trading Activities (Details 2) - USD ($) $ in Millions	Sep. 30, 2010	Dec. 31, 2009
Assets
Collateral and counterparty netting	$ (475)	$ (327)
Total derivative contracts (Assets)	1,561	938
Other assets measured at fair value on a recurring basis	26	63
Total assets	1,587	1,001
Liabilities
Collateral and counterparty netting	293	281
Total derivative contracts (Liabilites)	(2,958)	(2,777)
Other liabilities measured at fair value on a recurring basis	(6)	(70)
Total liabilities	(2,964)	(2,847)
Commodity [Member]
Assets
Total derivative contracts (Assets)	2,006	1,262
Liabilities
Total derivative contracts (Liabilites)	(3,238)	(3,027)
Foreign Exchange [Member]
Assets
Total derivative contracts (Assets)	13
Liabilities
Total derivative contracts (Liabilites)	(6)	(23)
Other [Member]
Assets
Total derivative contracts (Assets)	17	3
Liabilities
Total derivative contracts (Liabilites)	(7)	(8)
Level 1 [Member]
Liabilities
Collateral and counterparty netting	106	0
Total derivative contracts (Liabilites)	(287)	(151)
Other liabilities measured at fair value on a recurring basis	0	0
Total liabilities	(287)	(151)
Level 1 [Member] \| Commodity [Member]
Liabilities
Total derivative contracts (Liabilites)	(393)	(151)
Level 1 [Member] \| Foreign Exchange [Member]
Liabilities
Total derivative contracts (Liabilites)	0	0
Level 1 [Member] \| Other [Member]
Liabilities
Total derivative contracts (Liabilites)	0	0
Level 2 [Member]
Liabilities
Collateral and counterparty netting	160	1
Total derivative contracts (Liabilites)	(2,319)	(2,910)
Other liabilities measured at fair value on a recurring basis	(7)	(66)
Total liabilities	(2,326)	(2,976)
Level 2 [Member] \| Commodity [Member]
Liabilities
Total derivative contracts (Liabilites)	(2,466)	(2,880)
Level 2 [Member] \| Foreign Exchange [Member]
Liabilities
Total derivative contracts (Liabilites)	(6)	(23)
Level 2 [Member] \| Other [Member]
Liabilities
Total derivative contracts (Liabilites)	(7)	(8)
Level 3 [Member]
Liabilities
Collateral and counterparty netting	22	0
Total derivative contracts (Liabilites)	(400)	(36)
Other liabilities measured at fair value on a recurring basis	0	(4)
Total liabilities	(400)	(40)
Level 3 [Member] \| Commodity [Member]
Liabilities
Total derivative contracts (Liabilites)	(422)	(36)
Level 3 [Member] \| Foreign Exchange [Member]
Liabilities
Total derivative contracts (Liabilites)	0	0
Level 3 [Member] \| Other [Member]
Liabilities
Total derivative contracts (Liabilites)	0	0
Collateral and counterparty netting elimination [Member]
Liabilities
Collateral and counterparty netting	5	280
Total derivative contracts (Liabilites)	48	320
Other liabilities measured at fair value on a recurring basis	1	0
Total liabilities	49	320
Collateral and counterparty netting elimination [Member] \| Commodity [Member]
Liabilities
Total derivative contracts (Liabilites)	43	40
Collateral and counterparty netting elimination [Member] \| Foreign Exchange [Member]
Liabilities
Total derivative contracts (Liabilites)	0	0
Collateral and counterparty netting elimination [Member] \| Other [Member]
Liabilities
Total derivative contracts (Liabilites)	0	0
Level 1 [Member]
Assets
Collateral and counterparty netting	(106)	0
Total derivative contracts (Assets)	97	46
Other assets measured at fair value on a recurring basis	26	37
Total assets	123	83
Level 1 [Member] \| Commodity [Member]
Assets
Total derivative contracts (Assets)	203	46
Level 1 [Member] \| Foreign Exchange [Member]
Assets
Total derivative contracts (Assets)	0
Level 1 [Member] \| Other [Member]
Assets
Total derivative contracts (Assets)	0	0
Level 2 [Member]
Assets
Collateral and counterparty netting	(160)	(1)
Total derivative contracts (Assets)	988	1,139
Other assets measured at fair value on a recurring basis	0	21
Total assets	988	1,160
Level 2 [Member] \| Commodity [Member]
Assets
Total derivative contracts (Assets)	1,119	1,137
Level 2 [Member] \| Foreign Exchange [Member]
Assets
Total derivative contracts (Assets)	13
Level 2 [Member] \| Other [Member]
Assets
Total derivative contracts (Assets)	16	3
Level 3 [Member]
Assets
Collateral and counterparty netting	(22)	0
Total derivative contracts (Assets)	703	119
Other assets measured at fair value on a recurring basis	1	5
Total assets	704	124
Level 3 [Member] \| Commodity [Member]
Assets
Total derivative contracts (Assets)	724	119
Level 3 [Member] \| Foreign Exchange [Member]
Assets
Total derivative contracts (Assets)	0
Level 3 [Member] \| Other [Member]
Assets
Total derivative contracts (Assets)	1	0
Collateral and counterparty netting elimination [Member]
Assets
Collateral and counterparty netting	(187)	(326)
Total derivative contracts (Assets)	(227)	(366)
Other assets measured at fair value on a recurring basis	(1)	0
Total assets	(228)	(366)
Collateral and counterparty netting elimination [Member] \| Commodity [Member]
Assets
Total derivative contracts (Assets)	(40)	(40)
Collateral and counterparty netting elimination [Member] \| Foreign Exchange [Member]
Assets
Total derivative contracts (Assets)	0
Collateral and counterparty netting elimination [Member] \| Other [Member]
Assets
Total derivative contracts (Assets)	$ 0	$ 0

Risk Management and Trading Activities (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009
Changes in financial assets and liabilities at fair value based on level 3 inputs
Balance at beginning of period	$ 41	$ (215)	$ 84	$ 149
Unrealized gains (losses)
Included in earnings	105	(61)	163	93
Included in other comprehensive income	(18)	31	62	(187)
Purchases, sales or other settlements during the period	(51)	(12)	(9)	(226)
Transfers into Level 3	215	4	57	1
Transfers out of Level 3	12	(1)	(53)	(84)
Balance at end of period	$ 304	$ (254)	$ 304	$ (254)

Risk Management and Trading Activities (Details 4) - USD ($) $ in Millions	Sep. 30, 2010	Dec. 31, 2009
Accounts Receivable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts designated as hedging instruments	$ 473
Derivative contracts not designated as hedging instruments	10,988	$ 9,160
Gross fair value of derivative contracts	11,461	9,908
Master netting arrangements	(9,713)	(8,653)
Cash collateral (received) posted	(187)	(317)
Net fair value of derivative contracts	1,561	938
Accounts Payable [Member]
Gross and net fair values of the Corporation's risk management and trading derivative instruments
Derivative contracts designated as hedging instruments	(823)
Derivative contracts not designated as hedging instruments	(11,853)	(10,533)
Gross fair value of derivative contracts	(12,676)	(11,699)
Master netting arrangements	9,713	8,653
Cash collateral (received) posted	5	269
Net fair value of derivative contracts	(2,958)	(2,777)
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	460	748
Derivative contracts not designated as hedging instruments	10,946	9,145
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	(822)	(1,166)
Derivative contracts not designated as hedging instruments	(11,816)	(10,493)
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	20	3
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	(13)	(26)
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	13
Derivative contracts not designated as hedging instruments	22	12
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	(1)
Derivative contracts not designated as hedging instruments	$ (24)	$ (14)

Risk Management and Trading Activities (Details Textual) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2010 USD ($)	Sep. 30, 2009 USD ($)	Sep. 30, 2010 USD ($)	Sep. 30, 2009 USD ($)	Dec. 31, 2009 USD ($)
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			2
Maximum duration for the outstanding hedging contracts			4
Hedge contracts associated with the termination of brent crude oil cash flow hedges covering the period through 2012			24000
Number of other open crude oil and natural gas hedges	0		0
Increase (decrease) of exploration and production sales and other operating revenue due to hedging activities	$ (134.0)	$ (134.0)	$ (398.0)	$ (398.0)
Change in the fair value of interest rate swaps	4.0		13.0
Change in the fair value of the hedged fixed rate debt	4.0		13.0
Long-term debt carrying value	5,574.0		5,574.0		$ 4,467.0
Long-term debt fair value	6,650.0		6,650.0		5,073.0
Cash received as collateral	187.0		187.0		317.0
Corporation posted cash to counterparties	5.0		5.0		269.0
Outstanding letters of credit	2,540.0		2,540.0
Net liability related to derivatives with contingent collateral provisions	1,858.0		1,858.0
Cash collateral posted for derivatives with contingent collateral provisions	0.3		0.3
Additional collateral	$ 337.0		337.0
Level 1 [Member]
Fair Value Measurements (Textuals)
Fair Value Measurements transfers in			123.0
Fair Value Measurements transfers out			23.0
Level 2 [Member]
Fair Value Measurements (Textuals)
Fair Value Measurements transfers in			121.0
Fair Value Measurements transfers out			$ (271.0)
Education and Health Services [Member]
Risk Management and Trading Activities (Textuals)
Fair Value, Concentration of Risk, Accounts Receivable	11.00%		11.00%
Energy Marketing Activities [Member]
Risk Management and Trading Activities (Textuals)
After-tax deferred losses in Accumulated other comprehensive income	$ 239.0		$ 239.0		303.0
Reclassification of accumulated other comprehensive income into earnings over the next twelve months			167.0
Corporation reclassification losses from accumulated other comprehensive income on an after-tax basis	56.0	199.0	257.0	453.0
Gain (loss) from hedge ineffectiveness reflected in earnings	1.0	1.0	1.0	(1.0)
Increase (decrease) in fair value of energy marketing cash flow hedge positions	$ (34.0)	(83.0)	$ (193.0)	(519.0)
Integrated Oil Companies [Member]
Risk Management and Trading Activities (Textuals)
Fair Value, Concentration of Risk, Accounts Receivable	23.00%		23.00%
Government Entities [Member]
Risk Management and Trading Activities (Textuals)
Fair Value, Concentration of Risk, Accounts Receivable	13.00%		13.00%
Manufacturing Industry [Member]
Risk Management and Trading Activities (Textuals)
Fair Value, Concentration of Risk, Accounts Receivable	12.00%		12.00%
Corporate Risk Management [Member]
Risk Management and Trading Activities (Textuals)
After-tax deferred losses in Accumulated other comprehensive income	$ 720.0		$ 720.0		$ 941.0
Reclassification of accumulated other comprehensive income into earnings over the next twelve months			335.0
Not designated as hedges [Member] \| Energy Marketing Activities [Member]
Risk Management and Trading Activities (Textuals)
Net realized and unrealized pre-tax gains on derivative contracts not designated as hedges	$ 50.0	$ 5.0	$ 162.0	$ 86.0

Weighted Average Common Shares (Details) - shares	3 Months Ended		9 Months Ended
Weighted Average Common Shares (Details) - shares	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009
Weighted average number of shares outstanding - basic and diluted
Common shares - basic	325,452,000	324,066,000	325,166,000	323,796,000
Effect of dilutive securities
Restricted common stock	1,369,000	1,213,000	1,354,000	1,163,000
Stock options	813,000	759,000	822,000	846,000
Common shares - diluted	327,634,000	326,038,000	327,342,000	325,805,000
Weighted Average Common Shares (Textuals)
Stock options issued			2,768,715	3,091,080
Restricted stock issued			944,250	1,041,530
Out-of-the money options	8,932,000	3,533,000	5,797,000	3,893,000

Equity and Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009
Changes in Equity
Beginning Balance			$ 13,528	$ 12,391
Net income	$ 1,091	$ 352	2,055	437
Deferred gains (losses) on cash flow hedges, after tax
Effect of hedge losses recognized in income			508	701
Net change in fair value of cash flow hedges			(226)	(656)
Change in post retirement plan liabilities, after tax			24	27
Change in foreign currency translation adjustment and other			(6)	105
Comprehensive income			2,355	614
Activity related to restricted common stock awards, net			44	46
Employee stock options, including income tax benefits			54	56
Cash dividends declared			(98)	(98)
Noncontrolling interest, net			(55)	(2)
Ending Balance	15,828	13,007	15,828	13,007
Hess Stockholders' Equity [Member]
Changes in Equity
Beginning Balance			13,384	12,307
Net income			2,067	382
Deferred gains (losses) on cash flow hedges, after tax
Effect of hedge losses recognized in income			508	701
Net change in fair value of cash flow hedges			(226)	(656)
Change in post retirement plan liabilities, after tax			24	27
Change in foreign currency translation adjustment and other			(8)	109
Comprehensive income			2,365	563
Activity related to restricted common stock awards, net			44	46
Employee stock options, including income tax benefits			54	56
Cash dividends declared			(98)	(98)
Noncontrolling interest, net			(19)	0
Ending Balance	15,730	12,874	15,730	12,874
Non Controlling Interests [Member]
Changes in Equity
Beginning Balance			144	84
Net income			(12)	55
Deferred gains (losses) on cash flow hedges, after tax
Change in foreign currency translation adjustment and other			2	(4)
Comprehensive income			(10)	51
Noncontrolling interest, net			(36)	(2)
Ending Balance	$ 98	$ 133	$ 98	$ 133

Segment Information (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2010

Sep. 30, 2009

Sep. 30, 2010

Sep. 30, 2009

Dec. 31, 2009

Operating revenues

Less: Transfers between affiliates

$ (39)

$ (23)

$ (111)

$ (77)

Total

^[1]

7,864

7,270

24,855

20,936

Net income (loss) attributable to Hess Corporation

Net income (loss) attributable to Hess Corporation

1,154

341

2,067

382

Identifiable assets by operating segment

TOTAL ASSETS

33,485

$ 29,465

Segment Information (Textuals) [Abstract]

Excise and Similar Taxes

565

525

1,650

1,525

Exploration and Production [Member]

Operating revenues

Segment Revenues Gross

2,368

1,858

6,761

4,885

Net income (loss) attributable to Hess Corporation

Net income (loss) attributable to Hess Corporation

1,277

397

2,316

548

Identifiable assets by operating segment

Segment Reporting, Segment Assets

25,280

21,810

Marketing and Refining [Member]

Operating revenues

Segment Revenues Gross

5,535

5,435

18,205

16,128

Net income (loss) attributable to Hess Corporation

Net income (loss) attributable to Hess Corporation

(38)

110

Identifiable assets by operating segment

Segment Reporting, Segment Assets

6,258

6,388

Corporate [Member]

Net income (loss) attributable to Hess Corporation

Net income (loss) attributable to Hess Corporation

(85)

$ (94)

(279)

$ (276)

Identifiable assets by operating segment

Segment Reporting, Segment Assets

$ 1,947

$ 1,267

[1]	Operating revenues exclude excise and similar taxes of approximately $565 million and $525 million in the third quarter of 2010 and 2009, respectively, and $1,650 million and $1,525 million during the first nine months of 2010 and 2009, respectively.