Between 2010 2015 Hess successfully transitioning from an exploration led conventionally biased integrated IOC into a focused pure play E&P company. It high graded legacy assets and re focused its high impact deepwater exploration to deliver sustainable superior returns from five key areas: onshore US (unconventional) deepwater Gulf of Mexico offshore West Africa the Norwegian North Sea and the North Malay Basin. This focus resulted in new resources of 4.6 billion boe being discovered over the last decade. Future exploration drilling is central to Hess' medium term strategy and the company is committed to conventional exploration across a geographically focused portfolio with risk reduced through partnering. However the company remains light on exposure internationally with acreage concentrated in higher risk or unproven exploration provinces and the drivers to further reload the acreage inventory therefore seem strong.