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Lean times require lean measures. And the oracle of lean in oil and gas is New York City-based Hess Corp., which has found that the process of continuous improvement at the center of lean manufacturing also creates the opportunity for profit in a commodity resource business.

Hess Corporation (NYSE: HES) has earned a place on Corporate Responsibility magazine’s prestigious list of 100 Best Corporate Citizens for 2017.

The first quarter 2017 results were improved as higher realized crude oil selling prices and lower operating costs and exploration expenses more than offset the change in deferred income taxes and lower production volumes.

When Materion Corp. and Hess Corp. developed and added the new ToughMet Sucker Rod Couplings to Hess wells, run times tripled, workover costs were cut significantly and fluid production increased by 10% to 15%.

Data analysis from Hess wells is just one part of the company’s Lean process that continuously removes wasted effort and adds value across Hess Bakken assets.

Drillers are inching back to action in North Dakota’s Bakken shale region, a sign of the recovery of the American oil and gas sector, writes the Wall Street Journal.

Hess has sanctioned the first phase of development of the Liza Field, one of the industry’s largest oil discoveries, located on the Stabroek Block offshore Guyana.

Hess Corporation has entered into an agreement to sell its interests in enhanced oil recovery (EOR) assets in the Permian Basin to Occidental Petroleum Corporation for a total consideration of $600 million, effective June 1, 2017.

NEW YORK--(BUSINESS WIRE)--Jul. 5, 2017-- Hess Corporation (NYSE:HES) announced today that it will hold a conference call on Wednesday, July 26, 2017 at 10 a.m. Eastern Daylight Time to discuss its second quarter 2017 earnings release.

Hess Corporation reported a net loss of $449 million, or $1.46 per common share, in the second quarter of 2017 compared with a net loss of $392 million, or $1.29 per common share, in the second quarter of 2016, reflecting a lower effective tax rate in 2017 from the required change in deferred tax accounting.

Hess published its 2016 Sustainability Report, providing a comprehensive review of the company’s strategy and performance on safety, environmental, social and governance programs and initiatives.