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      "text": "Reality: Hess Shareholders have only seen dis-synergies.",
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      "text": "Why is Hess a less efficient operator in unconventional plays than independents without global offshore assets? Continental, Pioneer, EOG",
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      "text": "Why has Hess had significantly less exploration success than exploration focused independents without unconventional assets? Tullow, Kosmos, Cobalt",
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      "text": "Reality: Hess Shareholders have only seen dis-synergies. In 2009, contrary to every other operator in the play, Hess embarked on and persisted with a program of drilling dual lateral wells.(2) The subsequent well performance was substantially below industry average.(3) This experiment was the result of attempting to bring high-tech, complex drilling techniques that characterizes deep water development into a play that required a low-cost lean manufacturing approach.",
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      "text": "Hess claims it is \"realizing synergies from the transfer of technical skills and operating capabilities globally.\"(1) If that is the case, then...",
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      "text": "Hess claims it is \"realizing synergies from the transfer of technical skills and operating capabilities globally.\" — Hess's \"Delivering Shareholder Value\" presentation March 4, 2013",
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      "text": "1. Hess's \"Delivering Shareholder Value\" presentation March 4, 2013\n2. North Dakota Industrial Commission\n3. Elliott estimate based on public well data from North Dakota Industrial Commission",
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