{ "docId": "019dd923-622c-750b-8b9c-37eb478b579f", "docSlug": "43bbd9fb77dc", "documentTitle": "Hess Corporation (HES)", "authorId": "02_Elliott_Management", "authorName": "Elliott Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2013-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.2941177, "pageNumber": 14, "pageCount": 71, "prevPage": 13, "nextPage": 15, "slideType": "valuation_table", "function": "show_valuation_bridge", "density": "overcrowded", "nDataPoints": 12, "notes": "The slide uses a structured layout to map specific business segments to their respective valuation ranges and supporting market data.", "elementsJson": [ "headline_text", "bullet_list", "photo", "area_chart", "bar_chart_vertical", "callout_box", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-37eb478b579f/14", "deckHref": "/decks/019dd923-622c-750b-8b9c-37eb478b579f", "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-37eb478b579f.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-37eb478b579f#slide-14", "components": [ { "bbox": null, "kind": "callout", "text": "W.D. Von Gonten study concluded Hess has higher per acre value and is very comparable to CLR in absolute value", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-fb97-7552-b567-029e3397a6c7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.2, "x": 0.56, "y": 0.18 }, "kind": "chart", "text": "Bakken Value Continues to Increase", "attrs": null, "subkind": "area", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "369495cf-d2f9-44bf-93a3-70e670bef55a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.2, "x": 0.56, "y": 0.38 }, "kind": "chart", "text": "Wall St. NAV Average of Elliott TEV", "attrs": null, "subkind": "bar-vertical", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4a834862-3e0c-4675-9ed7-aa4089fc9db4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.2, "x": 0.56, "y": 0.78 }, "kind": "chart", "text": "Wall St. NAV Exceeds Elliott TEV", "attrs": null, "subkind": "bar-vertical", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bf9e0dce-b4c4-45fd-beec-0336068add6b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.2, "x": 0.56, "y": 0.58 }, "kind": "chart", "text": "Wall St. NAV Exceeds Elliott TEV", "attrs": null, "subkind": "bar-vertical", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c62f3b7b-31f9-4055-aaaa-e6e398e1c7bf", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.95, "x": 0.03, "y": 0.91 }, "kind": "disclaimer", "text": "Sources: Bloomberg, Analyst reports, Company filings", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ece5a372-1ec7-441b-97f3-70c4fdd21469", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.35, "x": 0.19, "y": 0.18 }, "kind": "list", "text": "Unconventionals: Large, un-replicable and highly desirable position in core of premier US oil resource play", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "123eb01d-48fa-40f9-8c1b-9426eff55630", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.35, "x": 0.19, "y": 0.38 }, "kind": "list", "text": "Conventionals: Long-life, oil-weighted reserves in “crown jewel” assets and favorable oil-linked gas assets in Southeast Asia", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "65714fc6-dce0-4417-bf58-34bf0b5486fc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.35, "x": 0.19, "y": 0.78 }, "kind": "list", "text": "Downstream: Saleable downstream businesses – upside potential from unlocking working capital", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "83c12701-c745-4a04-a39a-1af44252ee5f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.35, "x": 0.19, "y": 0.58 }, "kind": "list", "text": "Midstream: Valuable midstream infrastructure in Bakken", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bc3084bf-3a53-46ab-a473-1bea5146977d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.18, "x": 0.79, "y": 0.18 }, "kind": "metric", "text": "TEV ~$13.0 billion to $14.4 billion", "attrs": null, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4c8b6704-6021-4ada-b1ce-6eb586a82061", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.18, "x": 0.79, "y": 0.58 }, "kind": "metric", "text": "TEV ~$2.0 billion to $2.5 billion", "attrs": null, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "54a3bb08-f6e6-491b-99c9-685bdb91ed4a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.18, "x": 0.79, "y": 0.38 }, "kind": "metric", "text": "TEV ~$21.4 billion to $30.2 billion", "attrs": null, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9d222740-dea1-42cd-b491-5d46981e0e86", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.18, "x": 0.79, "y": 0.78 }, "kind": "metric", "text": "TEV ~$3.1 billion to $3.5 billion", "attrs": null, "subkind": "big-number", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ba80cfe9-f10f-4cb9-848f-859b51fd0bc1", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "TEV: $39 to $50 billion", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd952-fb97-7552-b567-06f8f35a5bf8", "frameworkName": null, 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