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  "documentTitle": "Hess Corporation (HES)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott Management",
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  "presentationDate": "2013-04-15 00:00:00",
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  "notes": "The slide highlights the cherry-picking of peers by Hess in their own materials.",
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      "text": "In recent materials to Shareholders, Hess measures itself on a 10 year basis against only 6 of its 9 integrated proxy peers. Average market cap of these 6 is over 11x greater than Hess(1)",
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      "text": "5 Year Relative Performance(3)",
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      "kind": "disclaimer",
      "text": "Source: Bloomberg. 1. As of 11/28/12... 2. Includes BP, CVX, COP, MRO, OXY, RDS, STL and TOT... 3. Includes BP, CVX, XOM, RDS, STL, and TOT...",
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      "kind": "title",
      "text": "Underperforms Even Against More Integrated Peers—Peers Who Have Downstream Operations That Have Not Benefited From Oil Price Increase",
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