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CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 1,646	$ 1,545
Accounts receivable:
From contracts with customers	428	940
Joint venture and other	168	230
Crude oil derivative contracts	450	125
Inventories	360	261
Other current assets	63	55
Total current assets	3,115	3,156
Property, plant and equipment:
Total — at cost	32,209	35,820
Less: Reserves for depreciation, depletion, amortization and lease impairment	17,384	19,006
Property, plant and equipment — net	14,825	16,814
Operating lease right-of-use assets — net	344	447
Finance lease right-of-use assets — net	182	299
Goodwill	360	360
Deferred income taxes	78	80
Other assets	642	626
Total Assets	19,546	21,782
Current Liabilities:
Accounts payable	307	411
Accrued liabilities	1,110	1,803
Taxes payable	34	97
Current maturities of long-term debt	5	0
Current portion of operating and finance lease obligations	108	199
Total current liabilities	1,564	2,510
Long-term debt	8,205	7,142
Long-term operating lease obligations	349	353
Long-term finance lease obligations	229	238
Deferred income taxes	319	415
Asset retirement obligations	944	897
Other liabilities and deferred credits	570	521
Total Liabilities	12,180	12,076
Hess Corporation stockholders’ equity:
Common stock, par value $1.00; Authorized - 600,000,000 shares, Issued - 307,144,424 shares (2019: 304,955,472)	307	305
Capital in excess of par value	5,650	5,591
Retained earnings	625	3,535
Accumulated other comprehensive income (loss)	(187)	(699)
Total Hess Corporation stockholders’ equity	6,395	8,732
Noncontrolling interests	971	974
Total Equity	7,366	9,706
Total Liabilities and Equity	$ 19,546	$ 21,782

CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	307,144,424	304,955,472

STATEMENT OF CONSOLIDATED INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues and Non-Operating Income
Sales and other operating revenues	$ 833	$ 1,660	$ 2,187	$ 3,232
(Gains) losses on asset sales, net	8	22	8	22
Other, net	1	15	16	42
Total revenues and non-operating income	842	1,697	2,211	3,296
Costs and Expenses
Marketing, including purchased oil and gas	56	477	434	885
Operating costs and expenses	294	285	597	551
Production and severance taxes	16	46	58	85
Exploration expenses, including dry holes and lease impairment	31	43	220	77
General and administrative expenses	89	89	191	176
Interest expense	119	97	232	195
Depreciation, depletion and amortization	509	494	1,070	992
Impairment	0	0	2,126	0
Total costs and expenses	1,114	1,531	4,928	2,961
Income (Loss) Before Income Taxes	(272)	166	(2,717)	335
Provision (benefit) for income taxes	(9)	132	(88)	226
Net Income (Loss)	(263)	34	(2,629)	109
Less: Net income (loss) attributable to noncontrolling interests	57	40	124	83
Net Income (Loss) Attributable to Hess Corporation	(320)	(6)	(2,753)	26
Less: Preferred stock dividends	0	0	0	4
Net income (loss) attributable to Hess Corporation Common Stockholders	$ (320)	$ (6)	$ (2,753)	$ 22
Net Income (Loss) Attributable to Hess Corporation Per Common Share:
Basic (in dollars per share)	$ (1.05)	$ (0.02)	$ (9.04)	$ 0.07
Diluted (in dollars per share)	$ (1.05)	$ (0.02)	$ (9.04)	$ 0.07
Weighted Average Number of Common Shares Outstanding:
Basic (in shares)	305.0	302.2	304.5	299.8
Diluted (in shares)	305.0	302.2	304.5	302.1
Common Stock Dividends Per Share (in dollars per share)	$ 0.25	$ 0.25	$ 0.50	$ 0.50

STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (263)	$ 34	$ (2,629)	$ 109
Derivatives designated as cash flow hedges
Effect of hedge (gains) losses reclassified to income	(228)	14	(292)	(1)
Income taxes on effect of hedge (gains) losses reclassified to income	0	0	0	0
Net effect of hedge (gains) losses reclassified to income	(228)	14	(292)	(1)
Change in fair value of cash flow hedges	(214)	0	776	(346)
Income taxes on change in fair value of cash flow hedges	0	0	0	0
Net change in fair value of cash flow hedges	(214)	0	776	(346)
Change in derivatives designated as cash flow hedges, after taxes	(442)	14	484	(347)
Pension and other postretirement plans
(Increase) reduction in unrecognized actuarial losses	4	(24)	4	(18)
Income taxes on actuarial changes in plan liabilities	0	0	0	0
(Increase) reduction in unrecognized actuarial losses, net	4	(24)	4	(18)
Amortization of net actuarial losses	12	12	24	23
Income taxes on amortization of net actuarial losses	0	0	0	0
Net effect of amortization of net actuarial losses	12	12	24	23
Change in pension and other postretirement plans, after taxes	16	(12)	28	5
Other Comprehensive Income (Loss)	(426)	2	512	(342)
Comprehensive Income (Loss)	(689)	36	(2,117)	(233)
Less: Comprehensive income (loss) attributable to noncontrolling interests	57	40	124	83
Comprehensive Income (Loss) Attributable to Hess Corporation	$ (746)	$ (4)	$ (2,241)	$ (316)

STATEMENT OF CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Flows From Operating Activities
Net income (loss)	$ (2,629)	$ 109
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
(Gains) losses on asset sales, net	(8)	(22)
Depreciation, depletion and amortization	1,070	992
Impairment	2,126	0
Exploratory dry hole costs	135	0
Exploration lease and other impairment	38	11
Stock compensation expense	47	48
Noncash (gains) losses on commodity derivatives, net	119	58
Provision (benefit) for deferred income taxes and other tax accruals	(95)	(1)
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable	628	(70)
(Increase) decrease in inventories	(99)	(33)
Increase (decrease) in accounts payable and accrued liabilities	(520)	(130)
Increase (decrease) in taxes payable	(63)	14
Changes in other operating assets and liabilities	(38)	(63)
Net cash provided by (used in) operating activities	711	913
Cash Flows From Investing Activities
Additions to property, plant and equipment - E&P	(1,250)	(1,085)
Additions to property, plant and equipment - Midstream	(147)	(210)
Payments for Midstream equity investments	0	(23)
Proceeds from asset sales, net of cash sold	11	22
Other, net	(2)	(1)
Net cash provided by (used in) investing activities	(1,388)	(1,297)
Cash Flows From Financing Activities
Net borrowings (repayments) of debt with maturities of 90 days or less	72	160
Debt with maturities of greater than 90 days – Borrowings	1,000	0
Debt with maturities of greater than 90 days - Repayments	0	(5)
Payments on finance lease obligations	(3)	(45)
Common stock acquired and retired	0	(25)
Cash dividends paid	(157)	(164)
Noncontrolling interests, net	(128)	(27)
Other, net	(6)	4
Net cash provided by (used in) financing activities	778	(102)
Net Increase (Decrease) in Cash and Cash Equivalents	101	(486)
Cash and Cash Equivalents at Beginning of Year	1,545	2,694
Cash and Cash Equivalents at End of Period	$ 1,646	$ 2,208

STATEMENT OF CONSOLIDATED EQUITY - USD ($) $ in Millions	Total	Mandatory Convertible Preferred Stock	Common Stock	Capital in Excess of Par	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Hess Stockholders' Equity	Noncontrolling Interests
Balance at Dec. 31, 2018	$ 10,888	$ 1	$ 291	$ 5,386	$ 4,257	$ (306)	$ 9,629	$ 1,259
Net income (loss)	109				26		26	83
Other comprehensive income (loss)	(342)					(342)	(342)
Preferred stock conversion	0	(1)	(12)	(11)			0
Share-based compensation	61		1	60			61
Dividends on preferred stock	(4)				(4)		(4)
Dividends on common stock	(154)				(154)		(154)
Sale of water business to Hess Infrastructure Partners	0			78			78	(78)
Noncontrolling interests, net	(27)							(27)
Balance at Jun. 30, 2019	10,531	0	304	5,513	4,125	(648)	9,294	1,237
Balance at Mar. 31, 2019	10,553	0	304	5,481	4,207	(650)	9,342	1,211
Net income (loss)	34				(6)		(6)	40
Other comprehensive income (loss)	2					2	2
Share-based compensation	32			32			32
Dividends on common stock	(76)				(76)		(76)
Noncontrolling interests, net	(14)							(14)
Balance at Jun. 30, 2019	10,531	0	304	5,513	4,125	(648)	9,294	1,237
Balance at Dec. 31, 2019	9,706	0	305	5,591	3,535	(699)	8,732	974
Net income (loss)	(2,629)				(2,753)		(2,753)	124
Other comprehensive income (loss)	512					512	512
Share-based compensation	56		2	59	(5)		56
Dividends on common stock	(152)				(152)		(152)
Noncontrolling interests, net	(127)							(127)
Balance at Jun. 30, 2020	7,366	0	307	5,650	625	(187)	6,395	971
Balance at Mar. 31, 2020	8,178	0	307	5,633	1,021	239	7,200	978
Net income (loss)	(263)				(320)		(320)	57
Other comprehensive income (loss)	(426)					(426)	(426)
Share-based compensation	17		0	17	0		17
Dividends on common stock	(76)				(76)		(76)
Noncontrolling interests, net	(64)							(64)
Balance at Jun. 30, 2020	$ 7,366	$ 0	$ 307	$ 5,650	$ 625	$ (187)	$ 6,395	$ 971

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [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 our consolidated financial position at June 30, 2020 and December 31, 2019, the consolidated results of operations for the three and six months ended June 30, 2020 and 2019, and consolidated cash flows for the six months ended June 30, 2020 and 2019. 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 generally accepted accounting principles (GAAP) in the United States 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 Annual Report on Form 10-K for the year ended December 31, 2019. In the first quarter of 2020, we adopted Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses. This ASU makes changes to the impairment model for trade receivables, net investments in leases, debt securities, loans and certain other instruments. The standard requires the use of a forward-looking "expected loss" model compared with the prior "incurred loss" model. We calculate expected credit losses for our receivables using the probability of default and the expected loss given default. Historical data, current market conditions, and forecasts of future economic conditions are used to determine the probability of default and the expected loss given default. The adoption of this ASU did not have a material impact to our financial statements.

Inventories

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventories

2. Inventories

Inventories consisted of the following:


	June 30, 2020		December 31, 2019

	(In millions)
Crude oil and natural gas liquids	$	204	$	92
Materials and supplies	156		169
Total Inventories	$	360	$	261

We have chartered three very large crude carriers (VLCCs) to load a total of approximately 6 million barrels of oil during May through August to sell in Asian markets later this year. During the second quarter, the Corporation loaded 3.7 million barrels of Bakken crude oil on VLCCs and included costs of the produced volumes totaling $113 million in crude oil inventories with a corresponding reduction to Marketing, including purchased oil and gas. In the first quarter of 2020, we recognized charges of $53 million ($52 million after income taxes) recorded in Marketing, including purchased oil and gas to reflect crude oil inventories at net realizable value.

Property Plant and Equipment

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property Plant and Equipment

3. Property Plant and Equipment

Capitalized Exploratory Well Costs:

The following table discloses the net changes in capitalized exploratory well costs pending determination of proved reserves during the six months ended June 30, 2020 (in millions):


Balance at January 1, 2020	$	584
Additions to capitalized exploratory well costs pending the determination of proved reserves	70
Capitalized exploratory well costs charged to expense	(125)
Balance at June 30, 2020	$	529

The table above does not include well costs incurred and expensed during the first six months of 2020 of $10 million associated with the Oldfield-1 well in the Gulf of Mexico. In the first quarter of 2020, the Corporation expensed previously capitalized well costs of $125 million, primarily related to the northern portion of the Shenzi Field (Hess 28%) in the Gulf of Mexico due to reprioritization of the Corporation’s forward capital program in response to the significant decline in crude oil prices. Capitalized exploratory well costs capitalized for greater than one year following completion of drilling were $360 million at June 30, 2020 and primarily related to:

Guyana: Approximately 80% of the capitalized well costs in excess of one year relate to successful exploration wells where hydrocarbons were encountered on the Stabroek Block (Hess 30%), offshore Guyana. The operator plans further appraisal

drilling for certain fields and is conducting pre-development planning for additional phases of development beyond the two existing sanctioned phases of development.

Joint Development Area (JDA): Approximately 10% of the capitalized well costs in excess of one year relates to the JDA (Hess 50%) in the Gulf of Thailand, where hydrocarbons were encountered in three successful exploration wells drilled in the western part of Block A-18. The operator has submitted a development plan concept to the regulator to facilitate ongoing commercial negotiations for an extension of the existing gas sales contract to include development of the western part of the Block.

Malaysia: Approximately 10% of the capitalized well costs in excess of one year relate to the North Malay Basin (Hess 50%), offshore Peninsular Malaysia, where hydrocarbons were encountered in five successful exploration wells. Subsurface evaluation and pre-development studies for future phases of development are ongoing.

Hess Midstream LP	6 Months Ended
Hess Midstream LP	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Hess Midstream LP	4. Hess Midstream LP At June 30, 2020 Hess Midstream LP (Hess Midstream), a variable interest entity that is fully consolidated by Hess Corporation, had liabilities totaling $1,972 million (December 31, 2019: $1,941 million) that are on a nonrecourse basis to Hess Corporation, while Hess Midstream assets available to settle the obligations of Hess Midstream include cash and cash equivalents totaling $3 million (December 31, 2019: $3 million) and property, plant and equipment with a carrying value of $3,069 million (December 31, 2019: $3,010 million).

Debt	6 Months Ended
Debt	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	5. Debt In the first quarter of 2020, we entered into a $1.0 billion three year term loan agreement with a maturity date of March 16, 2023. In the second quarter of 2020, we successfully syndicated the loan. Borrowings under the term loan generally bear interest at LIBOR plus an applicable margin of 2.25%. The applicable margin varies based on the credit rating of the Corporation’s senior, unsecured, non-credit enhanced long-term debt, and will increase by 0.25% on each anniversary of the term loan. The term loan agreement contains customary representations, warranties and covenants, including the same financial covenant as our revolving credit facility which limits the ratio of Total Consolidated Debt to Total Capitalization (as such terms are defined in the revolving credit facility and term loan agreements) of the Corporation and its consolidated subsidiaries to 65%, and customary events of default. At June 30, 2020, Hess Corporation had borrowings of $1.0 billion under this term loan agreement and was in compliance with this financial covenant.

Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

6. Revenue

Revenue from contracts with customers on a disaggregated basis was as follows:


	Exploration and Production																		Midstream	Eliminations	Total
	United States		Guyana		Malaysia & JDA		Denmark		Libya		E&P Total

	(In millions)
Three Months Ended June 30, 2020
Sales of our net production volumes:
Crude oil revenue	$	254	$	31	$	1	$	14	$	—	$	300	$	—	$	—	$	300
Natural gas liquids revenue	43		—		—		—		—		43		—		—		43
Natural gas revenue	32		—		89		2		—		123		—		—		123
Sales of purchased oil and gas	143		—		—		—		—		143		—		—		143
Intercompany revenue	—		—		—		—		—		—		270		(270)		—
Total revenues from contracts with customers	472		31		90		16		—		609		270		(270)		609
Other operating revenues (a)	188		27		—		9		—		224		—		—		224
Total sales and other operating revenues	$	660	$	58	$	90	$	25	$	—	$	833	$	270	$	(270)	$	833
Three Months Ended June 30, 2019
Sales of our net production volumes:
Crude oil revenue	$	762	$	—	$	24	$	51	$	130	$	967	$	—	$	—	$	967
Natural gas liquids revenue	48		—		—		—		—		48		—		—		48
Natural gas revenue	33		—		154		2		6		195		—		—		195
Sales of purchased oil and gas	439		—		—		—		22		461		—		—		461
Intercompany revenue	—		—		—		—		—		—		190		(190)		—
Total revenues from contracts with customers	1,282		—		178		53		158		1,671		190		(190)		1,671
Other operating revenues (a)	(11)		—		—		—		—		(11)		—		—		(11)
Total sales and other operating revenues	$	1,271	$	—	$	178	$	53	$	158	$	1,660	$	190	$	(190)	$	1,660
Six Months Ended June 30, 2020
Sales of our net production volumes:
Crude oil revenue	$	919	$	69	$	3	$	50	$	—	$	1,041	$	—	$	—	$	1,041
Natural gas liquids revenue	91		—		—		—		—		91		—		—		91
Natural gas revenue	70		—		228		4		2		304		—		—		304
Sales of purchased oil and gas	459		1		—		—		—		460		—		—		460
Intercompany revenue	—		—		—		—		—		—		561		(561)		—
Total revenues from contracts with customers	1,539		70		231		54		2		1,896		561		(561)		1,896
Other operating revenues (a)	243		33		1		14		—		291		—		—		291
Total sales and other operating revenues	$	1,782	$	103	$	232	$	68	$	2	$	2,187	$	561	$	(561)	$	2,187
Six Months Ended June 30, 2019
Sales of our net production volumes:
Crude oil revenue	$	1,444	$	—	$	45	$	67	$	221	$	1,777	$	—	$	—	$	1,777
Natural gas liquids revenue	116		—		—		—		—		116		—		—		116
Natural gas revenue	75		—		334		5		12		426		—		—		426
Sales of purchased oil and gas	865		—		—		—		44		909		—		—		909
Intercompany revenue	—		—		—		—		—		—		380		(380)		—
Total revenues from contracts with customers	2,500		—		379		72		277		3,228		380		(380)		3,228
Other operating revenues (a)	4		—		—		—		—		4		—		—		4
Total sales and other operating revenues	$	2,504	$	—	$	379	$	72	$	277	$	3,232	$	380	$	(380)	$	3,232

(a)Includes gains (losses) on commodity derivatives.

There have been no significant changes to contracts with customers or composition thereof during the six months ended June 30, 2020. Generally, we receive payments from customers on a monthly basis, shortly after the physical delivery of the crude oil, natural gas liquids, or natural gas.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Impairment	6 Months Ended
Impairment	Jun. 30, 2020
Asset Impairment Charges [Abstract]
Impairment	7. Impairment Oil and Gas Properties: As a result of the significant decline in crude oil prices due to the global economic slowdown from the coronavirus (COVID-19) pandemic, we reviewed our oil and gas properties within the Exploration and Production operating segment for impairment in the first quarter of 2020. We recognized pre-tax impairment charges in the first quarter of 2020 to reduce the carrying value of our oil and gas properties and certain related right-of-use assets at the North Malay Basin in Malaysia by $755 million ($755 million after income taxes), the South Arne Field in Denmark by $670 million ($594 million after income taxes), and in the Gulf of Mexico, the Stampede Field by $410 million ($410 million after income taxes) and the Tubular Bells Field by $270 million ($270 million after income taxes) primarily as a result of a lower long-term crude oil price outlook. The impairment charges were based on estimates of fair value at March 31, 2020 determined by discounting internally developed future net cash flows, a Level 3 fair value measurement. The total of the fair value estimates was approximately $1.05 billion. Significant inputs used in determining the discounted future net cash flows include future prices, projected production volumes using risk adjusted oil and gas reserves, and discount rates. The future pricing assumptions used were based on forward strip crude oil prices as of March 31, 2020 for the remainder of 2020 through 2022, and $50 per barrel for WTI ($55 per barrel for Brent) in 2023 and thereafter to the end of field life. The weighted average crude oil benchmark price based on total projected crude oil volumes for the impaired assets was $48.82 per barrel. A discount rate of 10% was used in each of the fair value measurements which represents the estimated discount rate a market participant would use. We determined the discount rate by considering the weighted average cost of capital for a group of peer companies. Other Assets: In the first quarter of 2020, we recognized impairment charges totaling $21 million pre-tax ($20 million after income taxes) related to drilling rig right-of-use assets in the Bakken and surplus materials and supplies.

Retirement Plans

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Retirement Plans

8. Retirement Plans

Components of net periodic pension cost consisted of the following:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019

	(In millions)
Service cost	$	14	$	11	$	28	$	21
Interest cost (a)	19		24		37		48
Expected return on plan assets (a)	(45)		(45)		(90)		(90)
Amortization of unrecognized net actuarial losses (a)	12		12		24		23
Pension (income) expense (a)	$	—	$	2	$	(1)	$	2

(a) Net non-service pension cost included in Other, net in the Statement of Consolidated Income for the three and six months ended June 30, 2020 was income of $14 million and $29 million, respectively, compared with income of $9 million and $19 million for the three and six months ended June 30, 2019, respectively.

To preserve cash in 2020, we are minimizing non-required cash contributions to funded pension plans. In 2020, we expect to contribute approximately $2 million to our funded pension plans.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Weighted Average Common Shares

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Weighted Average Common Shares

9. Weighted Average Common Shares

The Net income (loss) and weighted average number of common shares used in the basic and diluted earnings per share computations were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019

	(In millions)
Net income (loss) attributable to Hess Corporation Common Stockholders:
Net income (loss)	$	(263)	$	34	$	(2,629)	$	109
Less: Net income (loss) attributable to noncontrolling interests	57		40		124		83
Less: Preferred stock dividends	—		—		—		4
Net income (loss) attributable to Hess Corporation Common Stockholders	$	(320)	$	(6)	$	(2,753)	$	22
Weighted average number of common shares outstanding:
Basic	305.0		302.2		304.5		299.8
Effect of dilutive securities
Restricted common stock	—		—		—		0.9
Stock options	—		—		—		0.2
Performance share units	—		—		—		1.2
Diluted	305.0		302.2		304.5		302.1

The following table summarizes the number of antidilutive shares excluded from the computation of diluted shares:


	Three Months Ended June 30,			Six Months Ended June 30,
	2020	2019	2020	2019
Restricted common stock	2,173,061	2,156,525	2,094,360	28,970
Stock options	4,429,642	4,894,731	4,239,533	2,920,944
Performance share units	992,166	1,858,050	1,144,261	32,831
Common shares from conversion of preferred stock	—	—	—	1,954,473

During the six months ended June 30, 2020, we granted 1,120,356 shares of restricted stock (2019: 945,009), 307,999 performance share units (2019: 234,866) and 686,639 stock options (2019: 526,968).

Guarantees and Contingencies	6 Months Ended
Guarantees and Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Guarantees and Contingencies	10. Guarantees and Contingencies We are subject to loss contingencies with respect to various claims, lawsuits and other proceedings. A liability is recognized in our consolidated financial statements when it is probable that a loss has been incurred and the amount can be reasonably estimated. If the risk of loss is probable, but the amount cannot be reasonably estimated or the risk of loss is only reasonably possible, a liability is not accrued; however, we disclose the nature of those contingencies. We cannot predict with certainty if, how or when existing claims, lawsuits and proceedings will be resolved or what the eventual relief, if any, may be, particularly for proceedings that are in their early stages of development or where plaintiffs seek indeterminate damages. We, along with many companies that have been or continue to be engaged in refining and marketing of gasoline, have been a party to lawsuits and claims related to the use of methyl tertiary butyl ether (MTBE) in gasoline. A series of similar lawsuits, many involving water utilities or governmental entities, were filed in jurisdictions across the U.S. against producers of MTBE and petroleum refiners who produced gasoline containing MTBE, including us. The principal allegation in all cases was that gasoline containing MTBE was a defective product and that these producers and refiners are strictly liable in proportion to their share of the gasoline market for damage to groundwater resources and are required to take remedial action to ameliorate the alleged effects on the environment of releases of MTBE. The majority of the cases asserted against us have been settled. There are three remaining active cases, filed by Pennsylvania, Rhode Island, and Maryland. In June 2014, the Commonwealth of Pennsylvania filed a lawsuit alleging that we and all major oil companies with operations in Pennsylvania, have damaged the groundwater by introducing thereto gasoline with MTBE. The Pennsylvania suit has been forwarded to the existing MTBE multidistrict litigation pending in the Southern District of New York. In September 2016, the State of Rhode Island also filed a lawsuit alleging that we and other major oil companies damaged the groundwater in Rhode Island by introducing thereto gasoline with MTBE. The suit filed in Rhode Island is proceeding in Federal court. In December 2017, the State of Maryland filed a lawsuit alleging that we and other major oil companies damaged the groundwater in Maryland by introducing thereto gasoline with MTBE. The suit filed in Maryland state court, was served on us in January 2018 and has been removed to Federal court by the defendants. In September 2003, we received a directive from the New Jersey Department of Environmental Protection (NJDEP) to remediate contamination in the sediments of the Lower Passaic River. The NJDEP is also seeking natural resource damages. The directive, insofar as it affects us, relates to alleged releases from a petroleum bulk storage terminal in Newark, New Jersey we previously owned. We and over 70 companies entered into an Administrative Order on Consent with the Environmental Protection Agency (EPA) to study the same contamination; this work remains ongoing. We and other parties settled a cost recovery claim by the State of New Jersey and agreed with the EPA to fund remediation of a portion of the site. On March 4, 2016, the EPA issued a Record of Decision (ROD) in respect of the lower eight miles of the Lower Passaic River, selecting a remedy that includes bank-to-bank dredging at an estimated cost of $1.38 billion. The ROD does not address the upper nine miles of the Lower Passaic River or the Newark Bay, which may require additional remedial action. In addition, the Federal trustees for natural resources have begun a separate assessment of damages to natural resources in the Passaic River. Given that the EPA has not selected a remedy for the entirety of the Lower Passaic River or the Newark Bay, total remedial costs cannot be reliably estimated at this time. Based on currently known facts and circumstances, we do not believe that this matter will result in a significant liability to us because our former terminal did not store or use contaminants which are of concern in the river sediments and could not have contributed contamination along the river’s length. Further, there are numerous other parties who we expect will bear the cost of remediation and damages. In March 2014, we received an Administrative Order from the EPA requiring us and 26 other parties to undertake the Remedial Design for the remedy selected by the EPA for the Gowanus Canal Superfund Site in Brooklyn, New York. Our alleged liability derives from our former ownership and operation of a fuel oil terminal and connected shipbuilding and repair facility adjacent to the Canal. The remedy selected by the EPA includes dredging of surface sediments and the placement of a cap over the deeper sediments throughout the Canal and in-situ stabilization of certain contaminated sediments that will remain in place below the cap. The EPA’s original estimate was that this remedy would cost $506 million; however, the ultimate costs that will be incurred in connection with the design and implementation of the remedy remain uncertain. We have complied with the EPA’s March 2014 Administrative Order and contributed funding for the Remedial Design based on an allocation of costs among the parties determined by a third-party expert. In January 2020, we received an additional Administrative Order from the EPA requiring us and several other parties to begin Remedial Action along the uppermost portion of the Canal. We intend to comply with this Administrative Order. The remediation work is anticipated to begin in the fourth quarter of 2020. The costs will continue to be allocated amongst the parties, as they were for the Remedial Design. We periodically receive notices from the EPA that we are a “potential responsible party” under the Superfund legislation with respect to various waste disposal sites. Under this legislation, all potentially responsible parties may be jointly and severally liable. For any site for which we have received such a notice, the EPA’s claims or assertions of liability against us relating to these sites have not been fully developed, or the EPA’s claims have been settled or a settlement is under consideration, in all cases for amounts that are not material. The ultimate impact of these proceedings, and of any related proceedings by private parties, on our business or accounts cannot be predicted at this time due to the large number of other potentially responsible parties and the speculative nature of clean-up cost estimates but is not expected to be material. From time to time, we are involved in other judicial and administrative proceedings, including proceedings relating to other environmental matters. We cannot predict with certainty if, how or when such proceedings will be resolved or what the eventual relief, if any, may be, particularly for proceedings that are in their early stages of development or where plaintiffs seek indeterminate damages. Numerous issues may need to be resolved, including through potentially lengthy discovery and determination of important factual matters before a loss or range of loss can be reasonably estimated for any proceeding. Subject to the foregoing, in management’s opinion, based upon currently known facts and circumstances, the outcome of lawsuits, claims and proceedings, including the matters disclosed above, is not expected to have a material adverse effect on our financial condition, results of operations or cash flows. However, we could incur judgments, enter into settlements, or revise our opinion regarding the outcome of certain matters, and such developments could have a material adverse effect on our results of operations in the period in which the amounts are accrued and our cash flows in the period in which the amounts are paid.

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

11. Segment Information

We currently have two operating segments, Exploration and Production and Midstream. All unallocated costs are reflected under Corporate, Interest and Other. The following table presents operating segment financial data:


	Exploration and Production		Midstream		Corporate, Interest and Other		Eliminations		Total

	(In millions)
For the Three Months Ended June 30, 2020
Sales and Other Operating Revenues - Third parties	$	833	$	—	$	—	$	—	$	833
Intersegment Revenues	—		270		—		(270)		—
Sales and Other Operating Revenues	$	833	$	270	$	—	$	(270)	$	833

Net Income (Loss) attributable to Hess Corporation	$	(249)	$	51	$	(122)	$	—	$	(320)
Depreciation, Depletion and Amortization	470		39		—		—		509
Provision (Benefit) for Income Taxes	(11)		2		—		—		(9)
Capital Expenditures	428		79		—		—		507

For the Three Months Ended June 30, 2019
Sales and Other Operating Revenues - Third parties	$	1,660	$	—	$	—	$	—	$	1,660
Intersegment Revenues	—		190		—		(190)		—
Sales and Other Operating Revenues	$	1,660	$	190	$	—	$	(190)	$	1,660

Net Income (Loss) attributable to Hess Corporation	$	68	$	35	$	(109)	$	—	$	(6)
Depreciation, Depletion and Amortization	459		35		—		—		494
Provision (Benefit) for Income Taxes	131		—		1		—		132
Capital Expenditures	625		69		—		—		694

For the Six Months Ended June 30, 2020
Sales and Other Operating Revenues - Third parties	$	2,187	$	—	$	—	$	—	$	2,187
Intersegment Revenues	—		561		—		(561)		—
Sales and Other Operating Revenues	$	2,187	$	561	$	—	$	(561)	$	2,187

Net Income (Loss) attributable to Hess Corporation	$	(2,620)	$	112	$	(245)	$	—	$	(2,753)
Depreciation, Depletion and Amortization	991		77		2		—		1,070
Impairment	2,126		—		—		—		2,126
Provision (Benefit) for Income Taxes	(88)		4		(4)		—		(88)
Capital Expenditures	1,037		136		—		—		1,173

For the Six Months Ended June 30, 2019
Sales and Other Operating Revenues - Third parties	$	3,232	$	—	$	—	$	—	$	3,232
Intersegment Revenues	—		380		—		(380)		—
Sales and Other Operating Revenues	$	3,232	$	380	$	—	$	(380)	$	3,232

Net Income (Loss) attributable to Hess Corporation	$	177	$	72	$	(223)	$	—	$	26
Depreciation, Depletion and Amortization	923		69		—		—		992
Provision (Benefit) for Income Taxes	226		—		—		—		226
Capital Expenditures	1,140		196		—		—		1,336

Identifiable assets by operating segment were as follows:


	June 30, 2020		December 31, 2019

	(In millions)
Exploration and Production	$	14,267	$	16,790
Midstream	3,550		3,499
Corporate, Interest and Other	1,729		1,493
Total	$	19,546	$	21,782

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Financial Risk Management Activities

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Risk Management Activities

12. Financial Risk Management Activities

In the normal course of our business, we are exposed to commodity risks related to changes in the prices of crude oil and natural gas as well as changes in interest rates and foreign currency values. Financial risk management activities include transactions designed to reduce risk in the selling prices of crude oil or natural gas we produce or by reducing our 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 our crude oil or natural gas production. Forward contracts may also be used to purchase certain currencies in which we conduct business with the intent of reducing exposure to foreign currency fluctuations. At June 30, 2020, these forward contracts relate to the British Pound and the Danish Krone. Interest rate swaps may be used to convert interest payments on certain long-term debt from fixed to floating rates.

The notional amounts of outstanding financial risk management derivative contracts were as follows:


	June 30, 2020		December 31, 2019

	(In millions)
Commodity - crude oil put options (millions of barrels)	27.6		54.9

Foreign exchange forwards	$	74	$	90
Interest rate swaps	$	100	$	100

For calendar year 2020 we have West Texas Intermediate (WTI) put options with an average monthly floor price of $55 per barrel for 130,000 barrels of oil per day (bopd), and Brent put options with an average monthly floor price of $60 per barrel for 20,000 bopd.

The table below reflects the gross and net fair values of risk management derivative instruments and their respective financial statement caption in the Consolidated Balance Sheet:


	Assets		Liabilities

	(In millions)
June 30, 2020
Derivative Contracts Designated as Hedging Instruments:
Crude oil derivative contracts	$	450	$	—
Interest rate swaps - Other assets (noncurrent)	6		—
Total derivative contracts designated as hedging instruments	456		—
Derivative Contracts Not Designated as Hedging Instruments:
Foreign exchange forwards - Accounts receivable - Joint venture and other	2		—
Total derivative contracts not designated as hedging instruments	2		—
Gross fair value of derivative contracts	458		—
Master netting arrangements	—		—
Net Fair Value of Derivative Contracts	$	458	$	—
December 31, 2019
Derivative Contracts Designated as Hedging Instruments:
Crude oil derivative contracts	$	125	$	—
Interest rate swaps - Other assets (noncurrent)	1		—
Total derivative contracts designated as hedging instruments	126		—
Derivative Contracts Not Designated as Hedging Instruments:
Foreign exchange forwards - Accounts payable	—		(1)
Total derivative contracts not designated as hedging instruments	—		(1)
Gross fair value of derivative contracts	126		(1)
Master netting arrangements	—		—
Net Fair Value of Derivative Contracts	$	126	$	(1)

All fair values in the table above are based on Level 2 inputs.

Derivative contracts designated as hedging instruments:

Crude oil derivatives: Crude oil hedging contracts increased Sales and other operating revenues by $228 million and $292 million in the three and six months ended June 30, 2020, respectively. In the three and six months ended June 30, 2019, the impact from crude oil hedging contracts on Sales and other operating revenues was a decrease of $14 million and an increase of $1 million, respectively. At June 30, 2020, pre-tax deferred gains in Accumulated other comprehensive income (loss) related to outstanding crude

oil price hedging contracts were $386 million which will be reclassified into earnings during the remainder of 2020 as the originally hedged crude oil sales are recognized in earnings.

Interest rate swaps designated as fair value hedges: At June 30, 2020 and December 31, 2019, we had interest rate swaps with gross notional amounts totaling $100 million, which were designated as fair value hedges and relate to debt where we have converted interest payments from fixed to floating rates. Changes in the fair value of interest rate swaps and the hedged fixed-rate debt are recorded in Interest expense in the Statement of Consolidated Income. In the three and six months ended June 30, 2020, the change in fair value of interest rate swaps was an increase in the asset of $1 million and $6 million, respectively, compared with a decrease in the liability of $2 million and $3 million in the three and six months ended June 30, 2019, respectively, with a corresponding adjustment in the carrying value of the hedged fixed-rate debt.

Derivative contracts not designated as hedging instruments:

Foreign exchange: Foreign exchange gains and losses which are reported in Other, net in Revenues and non-operating income in the Statement of Consolidated Income were losses of $2 million and $3 million in the three and six months ended June 30, 2020, respectively, compared with losses of $2 million and gains of $3 million in the three and six months ended June 30, 2019, respectively. A component of foreign exchange gains and losses is the result of foreign exchange derivative contracts that are not designated as hedges which amounted to net gains of $1 million and $3 million in the three and six months ended June 30, 2020, respectively, compared with net gains of $1 million and $1 million in the three and six months ended June 30, 2019, respectively.

Fair Value Measurement:

We have other short-term financial instruments, primarily cash equivalents, accounts receivable and accounts payable, for which the carrying value approximated fair value at June 30, 2020. At June 30, 2020, total long-term debt, which was primarily comprised of fixed-rate debt instruments, had a carrying value of $8,210 million and a fair value of $8,736 million based on Level 2 inputs.

Basis of Presentation (Policies)	6 Months Ended
Basis of Presentation (Policies)	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Pronouncements	In the first quarter of 2020, we adopted Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses. This ASU makes changes to the impairment model for trade receivables, net investments in leases, debt securities, loans and certain other instruments. The standard requires the use of a forward-looking "expected loss" model compared with the prior "incurred loss" model. We calculate expected credit losses for our receivables using the probability of default and the expected loss given default. Historical data, current market conditions, and forecasts of future economic conditions are used to determine the probability of default and the expected loss given default. The adoption of this ASU did not have a material impact to our financial statements.

Inventories (Tables)

6 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:


	June 30, 2020		December 31, 2019

	(In millions)
Crude oil and natural gas liquids	$	204	$	92
Materials and supplies	156		169
Total Inventories	$	360	$	261

Property Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Net Changes in Capitalized Exploratory Well Costs

The following table discloses the net changes in capitalized exploratory well costs pending determination of proved reserves during the six months ended June 30, 2020 (in millions):


Balance at January 1, 2020	$	584
Additions to capitalized exploratory well costs pending the determination of proved reserves	70
Capitalized exploratory well costs charged to expense	(125)
Balance at June 30, 2020	$	529

Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Summary of Revenue from Contracts with Customers on a Disaggregated Basis

Revenue from contracts with customers on a disaggregated basis was as follows:


	Exploration and Production																		Midstream	Eliminations	Total
	United States		Guyana		Malaysia & JDA		Denmark		Libya		E&P Total

	(In millions)
Three Months Ended June 30, 2020
Sales of our net production volumes:
Crude oil revenue	$	254	$	31	$	1	$	14	$	—	$	300	$	—	$	—	$	300
Natural gas liquids revenue	43		—		—		—		—		43		—		—		43
Natural gas revenue	32		—		89		2		—		123		—		—		123
Sales of purchased oil and gas	143		—		—		—		—		143		—		—		143
Intercompany revenue	—		—		—		—		—		—		270		(270)		—
Total revenues from contracts with customers	472		31		90		16		—		609		270		(270)		609
Other operating revenues (a)	188		27		—		9		—		224		—		—		224
Total sales and other operating revenues	$	660	$	58	$	90	$	25	$	—	$	833	$	270	$	(270)	$	833
Three Months Ended June 30, 2019
Sales of our net production volumes:
Crude oil revenue	$	762	$	—	$	24	$	51	$	130	$	967	$	—	$	—	$	967
Natural gas liquids revenue	48		—		—		—		—		48		—		—		48
Natural gas revenue	33		—		154		2		6		195		—		—		195
Sales of purchased oil and gas	439		—		—		—		22		461		—		—		461
Intercompany revenue	—		—		—		—		—		—		190		(190)		—
Total revenues from contracts with customers	1,282		—		178		53		158		1,671		190		(190)		1,671
Other operating revenues (a)	(11)		—		—		—		—		(11)		—		—		(11)
Total sales and other operating revenues	$	1,271	$	—	$	178	$	53	$	158	$	1,660	$	190	$	(190)	$	1,660
Six Months Ended June 30, 2020
Sales of our net production volumes:
Crude oil revenue	$	919	$	69	$	3	$	50	$	—	$	1,041	$	—	$	—	$	1,041
Natural gas liquids revenue	91		—		—		—		—		91		—		—		91
Natural gas revenue	70		—		228		4		2		304		—		—		304
Sales of purchased oil and gas	459		1		—		—		—		460		—		—		460
Intercompany revenue	—		—		—		—		—		—		561		(561)		—
Total revenues from contracts with customers	1,539		70		231		54		2		1,896		561		(561)		1,896
Other operating revenues (a)	243		33		1		14		—		291		—		—		291
Total sales and other operating revenues	$	1,782	$	103	$	232	$	68	$	2	$	2,187	$	561	$	(561)	$	2,187
Six Months Ended June 30, 2019
Sales of our net production volumes:
Crude oil revenue	$	1,444	$	—	$	45	$	67	$	221	$	1,777	$	—	$	—	$	1,777
Natural gas liquids revenue	116		—		—		—		—		116		—		—		116
Natural gas revenue	75		—		334		5		12		426		—		—		426
Sales of purchased oil and gas	865		—		—		—		44		909		—		—		909
Intercompany revenue	—		—		—		—		—		—		380		(380)		—
Total revenues from contracts with customers	2,500		—		379		72		277		3,228		380		(380)		3,228
Other operating revenues (a)	4		—		—		—		—		4		—		—		4
Total sales and other operating revenues	$	2,504	$	—	$	379	$	72	$	277	$	3,232	$	380	$	(380)	$	3,232

(a)Includes gains (losses) on commodity derivatives.

Retirement Plans (Tables)

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Components of Net Periodic Pension Cost

Components of net periodic pension cost consisted of the following:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019

	(In millions)
Service cost	$	14	$	11	$	28	$	21
Interest cost (a)	19		24		37		48
Expected return on plan assets (a)	(45)		(45)		(90)		(90)
Amortization of unrecognized net actuarial losses (a)	12		12		24		23
Pension (income) expense (a)	$	—	$	2	$	(1)	$	2

Weighted Average Common Shares (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Net Income (Loss) and Weighted Average Number of Common Shares Used in Computation of Basic and Diluted Earnings Per Share

The Net income (loss) and weighted average number of common shares used in the basic and diluted earnings per share computations were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019

	(In millions)
Net income (loss) attributable to Hess Corporation Common Stockholders:
Net income (loss)	$	(263)	$	34	$	(2,629)	$	109
Less: Net income (loss) attributable to noncontrolling interests	57		40		124		83
Less: Preferred stock dividends	—		—		—		4
Net income (loss) attributable to Hess Corporation Common Stockholders	$	(320)	$	(6)	$	(2,753)	$	22
Weighted average number of common shares outstanding:
Basic	305.0		302.2		304.5		299.8
Effect of dilutive securities
Restricted common stock	—		—		—		0.9
Stock options	—		—		—		0.2
Performance share units	—		—		—		1.2
Diluted	305.0		302.2		304.5		302.1

Summary of Antidilutive Shares Excluded from Computation of Diluted Shares

The following table summarizes the number of antidilutive shares excluded from the computation of diluted shares:


	Three Months Ended June 30,			Six Months Ended June 30,
	2020	2019	2020	2019
Restricted common stock	2,173,061	2,156,525	2,094,360	28,970
Stock options	4,429,642	4,894,731	4,239,533	2,920,944
Performance share units	992,166	1,858,050	1,144,261	32,831
Common shares from conversion of preferred stock	—	—	—	1,954,473

Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Financial Data by Operating Segment

The following table presents operating segment financial data:


	Exploration and Production		Midstream		Corporate, Interest and Other		Eliminations		Total

	(In millions)
For the Three Months Ended June 30, 2020
Sales and Other Operating Revenues - Third parties	$	833	$	—	$	—	$	—	$	833
Intersegment Revenues	—		270		—		(270)		—
Sales and Other Operating Revenues	$	833	$	270	$	—	$	(270)	$	833

Net Income (Loss) attributable to Hess Corporation	$	(249)	$	51	$	(122)	$	—	$	(320)
Depreciation, Depletion and Amortization	470		39		—		—		509
Provision (Benefit) for Income Taxes	(11)		2		—		—		(9)
Capital Expenditures	428		79		—		—		507

For the Three Months Ended June 30, 2019
Sales and Other Operating Revenues - Third parties	$	1,660	$	—	$	—	$	—	$	1,660
Intersegment Revenues	—		190		—		(190)		—
Sales and Other Operating Revenues	$	1,660	$	190	$	—	$	(190)	$	1,660

Net Income (Loss) attributable to Hess Corporation	$	68	$	35	$	(109)	$	—	$	(6)
Depreciation, Depletion and Amortization	459		35		—		—		494
Provision (Benefit) for Income Taxes	131		—		1		—		132
Capital Expenditures	625		69		—		—		694

For the Six Months Ended June 30, 2020
Sales and Other Operating Revenues - Third parties	$	2,187	$	—	$	—	$	—	$	2,187
Intersegment Revenues	—		561		—		(561)		—
Sales and Other Operating Revenues	$	2,187	$	561	$	—	$	(561)	$	2,187

Net Income (Loss) attributable to Hess Corporation	$	(2,620)	$	112	$	(245)	$	—	$	(2,753)
Depreciation, Depletion and Amortization	991		77		2		—		1,070
Impairment	2,126		—		—		—		2,126
Provision (Benefit) for Income Taxes	(88)		4		(4)		—		(88)
Capital Expenditures	1,037		136		—		—		1,173

For the Six Months Ended June 30, 2019
Sales and Other Operating Revenues - Third parties	$	3,232	$	—	$	—	$	—	$	3,232
Intersegment Revenues	—		380		—		(380)		—
Sales and Other Operating Revenues	$	3,232	$	380	$	—	$	(380)	$	3,232

Net Income (Loss) attributable to Hess Corporation	$	177	$	72	$	(223)	$	—	$	26
Depreciation, Depletion and Amortization	923		69		—		—		992
Provision (Benefit) for Income Taxes	226		—		—		—		226
Capital Expenditures	1,140		196		—		—		1,336

Identifiable assets by operating segment were as follows:


	June 30, 2020		December 31, 2019

	(In millions)
Exploration and Production	$	14,267	$	16,790
Midstream	3,550		3,499
Corporate, Interest and Other	1,729		1,493
Total	$	19,546	$	21,782

Financial Risk Management Activities (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amounts of Outstanding Financial Risk Management Derivative Contracts

The notional amounts of outstanding financial risk management derivative contracts were as follows:


	June 30, 2020		December 31, 2019

	(In millions)
Commodity - crude oil put options (millions of barrels)	27.6		54.9

Foreign exchange forwards	$	74	$	90
Interest rate swaps	$	100	$	100

Gross and Net Fair Values of Financial Risk Management Derivative Instruments

The table below reflects the gross and net fair values of risk management derivative instruments and their respective financial statement caption in the Consolidated Balance Sheet:


	Assets		Liabilities

	(In millions)
June 30, 2020
Derivative Contracts Designated as Hedging Instruments:
Crude oil derivative contracts	$	450	$	—
Interest rate swaps - Other assets (noncurrent)	6		—
Total derivative contracts designated as hedging instruments	456		—
Derivative Contracts Not Designated as Hedging Instruments:
Foreign exchange forwards - Accounts receivable - Joint venture and other	2		—
Total derivative contracts not designated as hedging instruments	2		—
Gross fair value of derivative contracts	458		—
Master netting arrangements	—		—
Net Fair Value of Derivative Contracts	$	458	$	—
December 31, 2019
Derivative Contracts Designated as Hedging Instruments:
Crude oil derivative contracts	$	125	$	—
Interest rate swaps - Other assets (noncurrent)	1		—
Total derivative contracts designated as hedging instruments	126		—
Derivative Contracts Not Designated as Hedging Instruments:
Foreign exchange forwards - Accounts payable	—		(1)
Total derivative contracts not designated as hedging instruments	—		(1)
Gross fair value of derivative contracts	126		(1)
Master netting arrangements	—		—
Net Fair Value of Derivative Contracts	$	126	$	(1)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

Inventories - Inventories (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Crude oil and natural gas liquids	$ 204	$ 92
Materials and supplies	156	169
Total Inventories	$ 360	$ 261

Inventories - Additional Information (Detail) barrelOfOil in Millions, $ in Millions	3 Months Ended	4 Months Ended	6 Months Ended
	Jun. 30, 2020 USD ($) vlcc barrelOfOil	Aug. 31, 2020 barrelOfOil	Jun. 30, 2020 USD ($) vlcc	Dec. 31, 2019 USD ($)
Inventory Disclosure [Abstract]
Charges related to inventories			$ 53
Charges related to inventories, after income taxes			$ 52
Inventory [Line Items]
Number of very large crude carriers \| vlcc	3		3
Crude oil in very large crude carriers \| barrelOfOil	3.7
Cost of crude oil	$ 204		$ 204	$ 92
Very Large Crude Carriers (VLCCs)
Inventory [Line Items]
Cost of crude oil	$ 113		$ 113
Forecast \| Subsequent Event
Inventory [Line Items]
Crude oil in very large crude carriers \| barrelOfOil		6.0

Property Plant and Equipment - Net Changes in Capitalized Exploratory Well Costs (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020 USD ($)
Property, Plant and Equipment [Abstract]
Beginning balance	$ 584
Additions to capitalized exploratory well costs pending the determination of proved reserves	70
Capitalized exploratory well costs charged to expense	(125)
Ending balance	$ 529

Property Plant and Equipment - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020 USD ($) well
Capitalized Exploratory Well Costs [Line Items]
Previously capitalized well cost expensed	$ 125
Capitalized exploratory well costs that have been capitalized for period greater than one year	360
Northern Portion of Shenzi Field, Gulf of Mexico
Capitalized Exploratory Well Costs [Line Items]
Previously capitalized well cost expensed	$ 125
Project interest percentage	28.00%
Oldfield-1 Exploration Well in Gulf of Mexico
Capitalized Exploratory Well Costs [Line Items]
Well costs incurred and expensed	$ 10
Successful Exploration Wells on the Stabroek Block, Offshore Guyana
Capitalized Exploratory Well Costs [Line Items]
Project interest percentage	30.00%
Capitalized well costs percentage	80.00%
JDA, Gulf of Thailand
Capitalized Exploratory Well Costs [Line Items]
Project interest percentage	50.00%
Capitalized well costs percentage	10.00%
Number of successful exploration wells drilled \| well	3
North Malay Basin, Offshore Peninsular Malaysia
Capitalized Exploratory Well Costs [Line Items]
Capitalized well costs percentage	10.00%
Project interest percentage	50.00%
Number of successful exploration wells drilled \| well	5

Hess Midstream LP (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Liabilities	$ 12,180	$ 12,076
Cash and cash equivalents	1,646	1,545
Property, plant and equipment, net	14,825	16,814
Hess Midstream LP \| Variable Interest Entity
Variable Interest Entity [Line Items]
Liabilities	1,972	1,941
Cash and cash equivalents	3	3
Property, plant and equipment, net	$ 3,069	$ 3,010

- Definition

Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

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+ Details

Debt (Detail)	6 Months Ended
Debt (Detail)	Jun. 30, 2020 USD ($)
Debt Disclosure [Abstract]
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000.0
Loan agreement term (in years)	3 years
Maturity date of loan agreement	Mar. 16, 2023
Debt instrument covenant, ratio	65.00%
Long-term line of credit	$ 1,000,000,000.0
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest rate, applicable margin	2.25%
Annual increase in applicable margin on interest rate	0.25%

Impairment (Detail) $ in Millions	3 Months Ended			6 Months Ended
Impairment (Detail) $ in Millions	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($) $ / bbl	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Impairments [Line Items]
Impairment charge, pre-tax	$ 0		$ 0	$ 2,126	$ 0
Oil and Gas Properties
Impairments [Line Items]
Fair value of estimated impairment charges determined using internal projected discounted cash flows		$ 1,050
Weighted average crude oil benchmark price for impaired assets (US dollar per barrel) \| $ / bbl		48.82
Fair value of estimated impairment charges discount rate		10.00%
Oil and Gas Properties \| West Texas Intermediate
Impairments [Line Items]
Impairment charge, future flat price (US dollar per barrel) \| $ / bbl		50
Oil and Gas Properties \| Brent
Impairments [Line Items]
Impairment charge, future flat price (US dollar per barrel) \| $ / bbl		55
Oil and Gas Properties \| North Malay Basin Field \| Malaysia
Impairments [Line Items]
Impairment charge, pre-tax				755
Impairment charge, after income taxes				755
Oil and Gas Properties \| South Arne Field \| Denmark
Impairments [Line Items]
Impairment charge, pre-tax				670
Impairment charge, after income taxes				594
Oil and Gas Properties \| Stampede Field \| Gulf of Mexico
Impairments [Line Items]
Impairment charge, pre-tax				410
Impairment charge, after income taxes				410
Oil and Gas Properties \| Tubular Bells Field \| Gulf of Mexico
Impairments [Line Items]
Impairment charge, pre-tax				270
Impairment charge, after income taxes				$ 270
Other Assets
Impairments [Line Items]
Impairment charge, pre-tax		$ 21
Impairment charge, after income taxes		$ 20

Retirement Plans - Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Service cost	$ 14	$ 11	$ 28	$ 21
Interest cost	19	24	37	48
Expected return on plan assets	(45)	(45)	(90)	(90)
Amortization of unrecognized net actuarial losses	12	12	24	23
Pension (income) expense	0	2	(1)	2
Net non-service pension (income) costs included in Other, net	$ (14)	$ (9)	$ (29)	$ (19)

Retirement Plans - Additional Information (Detail) $ in Millions	Jun. 30, 2020 USD ($)
Retirement Benefits [Abstract]
Corporation's estimated contribution for funded pension plans in 2020	$ 2

Weighted Average Common Shares - Net Income (Loss) and Weighted Average Number of Common Shares Used in Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net income (loss) attributable to Hess Corporation Common Stockholders:
Net income (loss)	$ (263)	$ 34	$ (2,629)	$ 109
Less: Net income (loss) attributable to noncontrolling interests	57	40	124	83
Less: Preferred stock dividends	0	0	0	4
Net income (loss) attributable to Hess Corporation Common Stockholders	$ (320)	$ (6)	$ (2,753)	$ 22
Weighted average number of common shares outstanding:
Basic (in shares)	305.0	302.2	304.5	299.8
Diluted (in shares)	305.0	302.2	304.5	302.1
Restricted common stock
Weighted average number of common shares outstanding:
Effect of dilutive securities (in shares)	0.0	0.0	0.0	0.9
Stock options
Weighted average number of common shares outstanding:
Effect of dilutive securities (in shares)	0.0	0.0	0.0	0.2
Performance share units
Weighted average number of common shares outstanding:
Effect of dilutive securities (in shares)	0.0	0.0	0.0	1.2

Weighted Average Common Shares - Antidilutive Shares Excluded from Computation of Diluted Shares (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restricted common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of diluted shares (in shares)	2,173,061	2,156,525	2,094,360	28,970
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of diluted shares (in shares)	4,429,642	4,894,731	4,239,533	2,920,944
Performance share units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of diluted shares (in shares)	992,166	1,858,050	1,144,261	32,831
Common shares from conversion of preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from computation of diluted shares (in shares)	0	0	0	1,954,473

Weighted Average Common Shares - Additional Information (Detail) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Shares granted, restricted stock (in shares)	1,120,356	945,009
Shares granted, performance share units (in shares)	307,999	234,866
Shares granted, stock options (in shares)	686,639	526,968

Guarantees and Contingencies (Detail) $ in Millions	6 Months Ended
Guarantees and Contingencies (Detail) $ in Millions	Jun. 30, 2020 USD ($) case
MTBE Cases
Loss Contingencies [Line Items]
Total number of remaining active cases filed \| case	3
Lower Passaic River
Loss Contingencies [Line Items]
Estimated remediation cost	$ 1,380
Gowanus Canal Superfund Site
Loss Contingencies [Line Items]
Estimated remediation cost	$ 506

Segment Information - Additional Information (Detail)	6 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2020 segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Information - Financial Data by Operating Segment (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 833	$ 1,660	$ 2,187	$ 3,232
Net Income (Loss) attributable to Hess Corporation	(320)	(6)	(2,753)	26
Depreciation, depletion and amortization	509	494	1,070	992
Impairment			2,126
Provision (benefit) for income taxes	(9)	132	(88)	226
Capital Expenditures	507	694	1,173	1,336
Assets	19,546		19,546		$ 21,782
Exploration and Production
Segment Reporting Information [Line Items]
Sales and other operating revenues	833	1,660	2,187	3,232
Midstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	0	0	0
Operating Segments \| Exploration and Production
Segment Reporting Information [Line Items]
Sales and other operating revenues	833	1,660	2,187	3,232
Net Income (Loss) attributable to Hess Corporation	(249)	68	(2,620)	177
Depreciation, depletion and amortization	470	459	991	923
Impairment			2,126
Provision (benefit) for income taxes	(11)	131	(88)	226
Capital Expenditures	428	625	1,037	1,140
Assets	14,267		14,267		16,790
Operating Segments \| Midstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	270	190	561	380
Net Income (Loss) attributable to Hess Corporation	51	35	112	72
Depreciation, depletion and amortization	39	35	77	69
Impairment			0
Provision (benefit) for income taxes	2	0	4	0
Capital Expenditures	79	69	136	196
Assets	3,550		3,550		3,499
Corporate, Interest and Other
Segment Reporting Information [Line Items]
Net Income (Loss) attributable to Hess Corporation	(122)	(109)	(245)	(223)
Depreciation, depletion and amortization	0	0	2	0
Impairment			0
Provision (benefit) for income taxes	0	1	(4)	0
Capital Expenditures	0	0	0	0
Assets	1,729		1,729		$ 1,493
Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(270)	(190)	(561)	(380)
Net Income (Loss) attributable to Hess Corporation	0	0	0	0
Depreciation, depletion and amortization	0	0	0	0
Impairment			0
Provision (benefit) for income taxes	0	0	0	0
Capital Expenditures	0	0	0	0
Eliminations \| Exploration and Production
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	0	0	0
Eliminations \| Midstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 270	$ 190	$ 561	$ 380

Financial Risk Management Activities - Notional Amounts of Outstanding Financial Risk Management Derivative Contracts (Detail) MMBbls in Millions	Jun. 30, 2020 USD ($) MMBbls	Dec. 31, 2019 USD ($) MMBbls
Commodity derivative contracts
Derivative [Line Items]
Commodity - crude oil \| MMBbls	27.6	54.9
Foreign exchange forwards
Derivative [Line Items]
Outstanding gross notional amount	$ 74,000,000	$ 90,000,000
Interest rate swaps \| Designated as Fair Value Hedges
Derivative [Line Items]
Outstanding gross notional amount	$ 100,000,000	$ 100,000,000

Financial Risk Management Activities - Additional Information (Detail) - Commodity derivative contracts MMBbls in Millions	Jun. 30, 2020 MMBbls bbl / d $ / bbl	Dec. 31, 2019 MMBbls
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of crude oil \| MMBbls	27.6	54.9
West Texas Intermediate \| Designated as Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Average monthly floor price (US dollar per barrel) \| $ / bbl	55
Notional amount of crude oil \| bbl / d	130,000
Brent \| Designated as Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Average monthly floor price (US dollar per barrel) \| $ / bbl	60
Notional amount of crude oil \| bbl / d	20,000

Financial Risk Management Activities - Gross and Net Fair Values (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	$ 458	$ 126
Master netting arrangements	0	0
Assets - Net Fair Value of Derivative Contracts	458	126
Liabilities - Gross fair value of derivative contracts	0	(1)
Master netting arrangements	0	0
Liabilities - Net Fair Value of Derivative Contracts	0	(1)
Derivative Contracts Designated as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	456	126
Liabilities - Gross fair value of derivative contracts	0	0
Derivative Contracts Designated as Hedging Instruments: \| Commodity derivative contracts
Derivatives, Fair Value [Line Items]
Liabilities - Gross fair value of derivative contracts	0	0
Derivative Contracts Designated as Hedging Instruments: \| Commodity derivative contracts \| Crude Oil Derivative Contracts
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	450	125
Derivative Contracts Designated as Hedging Instruments: \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Liabilities - Gross fair value of derivative contracts	0	0
Derivative Contracts Designated as Hedging Instruments: \| Interest rate swaps \| Other Assets
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	6	1
Derivative Contracts Not Designated as Hedging Instruments:
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	2	0
Liabilities - Gross fair value of derivative contracts	0	(1)
Derivative Contracts Not Designated as Hedging Instruments: \| Foreign exchange forwards \| Accounts Receivable - Joint Venture and Other
Derivatives, Fair Value [Line Items]
Assets - Gross fair value of derivative contracts	2	0
Derivative Contracts Not Designated as Hedging Instruments: \| Foreign exchange forwards \| Accounts Payable
Derivatives, Fair Value [Line Items]
Liabilities - Gross fair value of derivative contracts	$ 0	$ (1)

Financial Risk Management Activities - Derivative Contracts - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Interest rate swaps \| Designated as Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding gross notional amount	$ 100,000,000		$ 100,000,000		$ 100,000,000
Foreign exchange forwards
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding gross notional amount	74,000,000		74,000,000		90,000,000
Derivative Contracts Designated as Hedging Instruments: \| Commodity derivative contracts
Derivative Instruments, Gain (Loss) [Line Items]
Increased (decreased) sales and other operating revenue	228,000,000	$ (14,000,000)	292,000,000	$ 1,000,000
Pre-tax deferred income (losses) in Accumulated other comprehensive income (loss) to be reclassified into earnings during the remainder of 2020			386,000,000
Derivative Contracts Designated as Hedging Instruments: \| Interest rate swaps \| Designated as Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Outstanding gross notional amount	100,000,000		100,000,000		$ 100,000,000
Unrealized change in fair value of interest rate swaps - increase in derivative asset (decrease in derivative liability)	1,000,000	(2,000,000)	6,000,000	(3,000,000)
Derivative Contracts Not Designated as Hedging Instruments: \| Foreign exchange forwards
Derivative Instruments, Gain (Loss) [Line Items]
Foreign exchange gains (losses) reported in Other, net in the Statement of Consolidated Income	(2,000,000)	(2,000,000)	(3,000,000)	3,000,000
Net gains (losses) on foreign exchange contracts not designated as hedging instruments	$ 1,000,000	$ 1,000,000	$ 3,000,000	$ 1,000,000

Financial Risk Management Activities - Fair Value Measurements - Additional Information (Detail) $ in Millions	Jun. 30, 2020 USD ($)
Fair Value Disclosures [Abstract]
Long-term debt	$ 8,210
Long-term debt, fair value	$ 8,736

Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	$ 609	$ 1,671	$ 1,896	$ 3,228
Other operating revenues	224	(11)	291	4
Total sales and other operating revenues	833	1,660	2,187	3,232
Crude oil revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	300	967	1,041	1,777
Natural gas liquids revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	43	48	91	116
Natural gas revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	123	195	304	426
Sales of purchased oil and gas
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	143	461	460	909
Exploration and Production
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	833	1,660	2,187	3,232
Exploration and Production \| Crude oil revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	300	967	1,041	1,777
Exploration and Production \| Crude oil revenue \| United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	254	762	919	1,444
Exploration and Production \| Crude oil revenue \| Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	31	0	69	0
Exploration and Production \| Crude oil revenue \| Malaysia & JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	1	24	3	45
Exploration and Production \| Crude oil revenue \| Denmark
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	14	51	50	67
Exploration and Production \| Crude oil revenue \| Libya
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	130	0	221
Exploration and Production \| Natural gas liquids revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	43	48	91	116
Exploration and Production \| Natural gas liquids revenue \| United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	43	48	91	116
Exploration and Production \| Natural gas liquids revenue \| Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production \| Natural gas liquids revenue \| Malaysia & JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production \| Natural gas liquids revenue \| Denmark
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production \| Natural gas liquids revenue \| Libya
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production \| Natural gas revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	123	195	304	426
Exploration and Production \| Natural gas revenue \| United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	32	33	70	75
Exploration and Production \| Natural gas revenue \| Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production \| Natural gas revenue \| Malaysia & JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	89	154	228	334
Exploration and Production \| Natural gas revenue \| Denmark
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	2	2	4	5
Exploration and Production \| Natural gas revenue \| Libya
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	6	2	12
Exploration and Production \| Sales of purchased oil and gas
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	143	461	460	909
Exploration and Production \| Sales of purchased oil and gas \| United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	143	439	459	865
Exploration and Production \| Sales of purchased oil and gas \| Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	1	0
Exploration and Production \| Sales of purchased oil and gas \| Malaysia & JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production \| Sales of purchased oil and gas \| Denmark
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Exploration and Production \| Sales of purchased oil and gas \| Libya
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	22	0	44
Midstream
Disaggregation of Revenue [Line Items]
Total sales and other operating revenues	0	0	0	0
Midstream \| Crude oil revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Midstream \| Natural gas liquids revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Midstream \| Natural gas revenue
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Midstream \| Sales of purchased oil and gas
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Operating Segments \| Exploration and Production
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	609	1,671	1,896	3,228
Other operating revenues	224	(11)	291	4
Total sales and other operating revenues	833	1,660	2,187	3,232
Operating Segments \| Exploration and Production \| United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	472	1,282	1,539	2,500
Other operating revenues	188	(11)	243	4
Total sales and other operating revenues	660	1,271	1,782	2,504
Operating Segments \| Exploration and Production \| Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	31	0	70	0
Other operating revenues	27	0	33	0
Total sales and other operating revenues	58	0	103	0
Operating Segments \| Exploration and Production \| Malaysia & JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	90	178	231	379
Other operating revenues	0	0	1	0
Total sales and other operating revenues	90	178	232	379
Operating Segments \| Exploration and Production \| Denmark
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	16	53	54	72
Other operating revenues	9	0	14	0
Total sales and other operating revenues	25	53	68	72
Operating Segments \| Exploration and Production \| Libya
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	158	2	277
Other operating revenues	0	0	0	0
Total sales and other operating revenues	0	158	2	277
Operating Segments \| Midstream
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	270	190	561	380
Other operating revenues	0	0	0	0
Total sales and other operating revenues	270	190	561	380
Eliminations
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	(270)	(190)	(561)	(380)
Other operating revenues	0	0	0	0
Total sales and other operating revenues	(270)	(190)	(561)	(380)
Eliminations \| Exploration and Production
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Total sales and other operating revenues	0	0	0	0
Eliminations \| Exploration and Production \| United States
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Exploration and Production \| Guyana
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Exploration and Production \| Malaysia & JDA
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Exploration and Production \| Denmark
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Exploration and Production \| Libya
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	0	0	0	0
Eliminations \| Midstream
Disaggregation of Revenue [Line Items]
Total revenues from contracts with customers	270	190	561	380
Total sales and other operating revenues	$ 270	$ 190	$ 561	$ 380