Elliott Management · activist-deck
Hess Corporation (HES)
71 pages · 4 arc beats · 2 loops
Hess Corporation (HES)
Elliott Management · 2013-03 arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
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Deck intelligence map
4 coverage by narrative range · generated from this deck JSON
Narrative range 71 total
Metadata
Components
Metrics
Tools
Frameworks
Beats
Loops
The Call 5 slides 100% 5/5 slides 100% 5/5 slides · 23 hits — 0/5 slides
60% 3/5 slides · 4 hits 40% 2/5 slides 100% 5/5 slides — 0/5 slides
The Monster 27 slides 100% 27/27 slides 100% 27/27 slides · 212 hits — 0/27 slides
3.7% 1/27 slides 92.6% 25/27 slides · 28 hits 100% 27/27 slides 85.2% 23/27 slides · 42 hits The Struggle 27 slides 100% 27/27 slides 100% 27/27 slides · 194 hits — 0/27 slides
14.8% 4/27 slides · 5 hits 81.5% 22/27 slides · 24 hits 100% 27/27 slides 100% 27/27 slides · 54 hits The Victory 12 slides 100% 12/12 slides 100% 12/12 slides · 76 hits — 0/12 slides
16.7% 2/12 slides · 4 hits 83.3% 10/12 slides 100% 12/12 slides 91.7% 11/12 slides · 21 hits Slide inventory
71 every slide · same image gating as the playbook
03
The quote is used to establish a standard for business success and accountability.cite_precedent
Open slide detailBeat · The Call
05
The slide uses a classic activist investor structure: market performance, management critique, board accountability, and a proposed path to value.summarize
Open slide detailBeat · The Call
06
Uses a combination of a stock price line chart and a performance table to highlight management's failure to deliver value.expose_contradiction
Open slide detailBeat · The Monster
07
Uses a 'X' icon to visually reinforce the failure of accountability.expose_contradiction
Open slide detailBeat · The Monster
08
Uses a timeline-based framework to highlight the gap between management promises and actual financial results.expose_contradiction
Open slide detailBeat · The Monster
09
Uses a three-column structure to systematically debunk management claims.expose_contradiction
Open slide detailBeat · The Monster
10
The slide uses a 'villain' framing by questioning John Hess's personal voting behavior against his own board's recommendation.expose_contradiction
11
This slide uses a 'Before/After' framing to highlight management failures.name_villain
12
Uses a contrast-pairs framework to highlight the difference between the two groups of nominees.expose_contradiction
13
The slide uses a structured layout to map specific nominee experience against 'Experience Hess Needs'.introduce_nominees
14
The slide uses a structured layout to map specific business segments to their respective valuation ranges and supporting market data.show_valuation_bridge
15
Uses a before-after-bridge framework to show the transformation of business units into independent entities with associated TEV valuations.propose_solution
17
The slide uses a list of bullet points to systematically dismantle the credibility of the board's recent communications.expose_contradiction
18
Uses a line chart with a trend line to highlight the discrepancy between management's narrative and historical performance.expose_contradiction
19
Uses a timeline framework to contrast management quotes against their own shifting definitions of the restructuring timeline.expose_contradiction
20
Uses a before-and-after framing to highlight management inconsistency.expose_contradiction
21
Uses a contrast-pairs framework to highlight the conflict between management's narrative and the activist's critique.expose_contradiction
22
Uses a comparison frame to show that the new director has the same problematic conflict as the former director.expose_contradiction
23
Uses a combination of charts and callouts to highlight poor performance metrics (stock price, well costs, exploration value) and lack of board independence.expose_contradiction
24
Uses a 'before-after' style comparison of completion designs to highlight cost inefficiencies.expose_contradiction
25
Uses a 'Reality' column to frame the data as a rebuttal to the CEO's quote.expose_contradiction
26
Uses a contrast-pair structure to highlight poor capital allocation by Hess compared to industry peers.expose_contradiction
27
Uses bar charts to contrast Hess's performance metrics against peers.expose_contradiction
28
The slide uses two bar charts to visualize financial losses and frames the lack of disclosure as a governance issue.expose_contradiction
29
Uses a waterfall-style logic on a bar chart to show the impact of management performance on stock price targets.expose_contradiction
30
The slide uses a series of leading questions to frame the company's actions as deliberate obfuscation.expose_contradiction
31
Uses a series of 'before-after' style quote-vs-performance pairings to highlight management failure.expose_contradiction
32
The slide uses a contrast-heavy structure to imply that current management's value is derived from legacy assets rather than their own strategic acquisitions.compare_peers
35
The slide uses authority bias by citing high-profile business leaders to validate the nominee.introduce_nominees
36
The slide uses a structured layout to map specific nominee backgrounds to 'Experience Hess Needs'.introduce_nominees
37
The slide uses a table to link board members to negative returns and lack of relevant experience, framing them as 'failures'.expose_contradiction
38
The slide uses a 'villain' framing by highlighting specific director names and their high compensation despite negative returns.expose_contradiction
39
The slide uses a green border to highlight the Shareholder Nominees column, visually framing them as the preferred choice.compare_peers
40
The slide uses a green box to visually emphasize the shareholder nominees column.introduce_nominees
41
Uses a contrast-pairs framework to highlight the difference between management's 'rubber stamp' narrative and the activist's 'independent' narrative.expose_contradiction
42
Uses a 'None' callout to emphasize the lack of specific qualifications for the nominee.expose_contradiction
43
Uses a red dashed box to highlight a conflict of interest regarding the Lead Independent Director.expose_contradiction
44
Uses a bar chart to show consistent shareholder support for de-staggering over time, contrasted with the board's failure to implement it due to high voting threexpose_contradiction
47
The slide uses a quote to establish credibility or set a standard for performance expectations.cite_precedent
48
Uses a before-after framing to contrast the current conglomerate structure with the proposed focused entities.propose_solution
49
Uses a 'proxy' valuation methodology to justify a higher valuation for Hess based on Continental's market performance.show_valuation_bridge
50
The slide uses a peer benchmark table to argue that Hess management's concerns about funding are unfounded.compare_peers
51
Includes specific footnotes detailing assumptions for production, capex, and midstream valuation.analyze_data
52
Includes detailed tax calculation table for Bakken 2013-2017 and qualitative analysis of Bakken vs Utica tax shields.analyze_data
53
The slide uses a 'like-for-like' argument to preemptively dismiss comparisons with other operators like Continental, Oasis, and Kodiak.compare_peers
54
Uses a combination of a bar chart showing NPV impact and a table showing production growth percentages to frame Hess as an underperformer.expose_contradiction
55
Uses a contrast-pairs framework to highlight the gap between competitors and the target company.name_villain
56
The slide uses a waterfall chart to quantify the negative impact of management decisions on Hess's Net Asset Value.expose_contradiction
57
Uses a before-after framing to contrast the current 'opaque' structure with the proposed 'accountable' structure.propose_solution
58
Uses a combination of a bar chart for valuation ranges and a table for transaction premiums to demonstrate undervaluation.expose_contradiction
59
Includes a call to action for the board to divest assets to unlock value.show_valuation_bridge
60
Uses a rhetorical question structure to undermine management's stated strategy.expose_contradiction
62
Uses a 'before-after' or 'transformation' flow to show the transition from a conglomerate to focused entities.propose_solution
63
Uses a 'before-after' style contradiction framework to highlight management's shifting narrative.expose_contradiction
64
The slide uses a precedent to argue for the value of spinning off midstream assets.cite_precedent
65
The slide uses a red dashed box to highlight the 'Hess Reaction' bar, emphasizing the inadequacy of management's proposal.expose_contradiction
66
Uses a series of rhetorical questions to lead the audience to a negative conclusion about management's motives.expose_contradiction
68
The slide uses a series of leading questions to frame management's actions as evasive and non-transparent.expose_contradiction
69
The slide uses a hub-and-spoke style cycle diagram to visualize a negative feedback loop.frame_problem
70
The slide uses a table to show negative performance percentages across multiple time horizons and a second table to detail the credentials of five board nomineeintroduce_nominees