Market Overview

Hess Completes Sale of Utica Acreage

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Hess Corporation (NYSE:HES) today announced that it has completed the
previously announced sale of its joint venture interests in the Utica
shale play in eastern Ohio to Ascent Resources – Utica, LLC for net cash
consideration of approximately $400 million, effective April 1.

Proceeds from this transaction will be used to invest in the company's
higher return growth opportunities in Guyana and the Bakken and to fund
the previously announced share repurchase program.

Hess Corporation is a leading global independent energy company engaged
in the exploration and production of crude oil and natural gas. More
information on Hess Corporation is available at http://www.hess.com.

Cautionary Statements

This news release contains projections and other forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. These
projections and statements reflect the company's current views with
respect to future events and financial performance. No assurances can be
given, however, that these events will occur or that these projections
will be achieved, and actual results could differ materially from those
projected as a result of certain risk factors. A discussion of these
risk factors is included in the company's periodic reports filed with
the Securities and Exchange Commission.

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