Hess has clearer visibility on growth from 2017, and one of the strongest outlooks relative to peers over the next decade. The production and value proposition will be underpinned by its two flagship resource plays – Bakken tight oil and deepwater Guyana – highlighting the strength of its hybrid portfolio. A strong balance sheet provides the foundation to deliver and investors see value in the portfolio. But Hess has work to do to close the gap to more premium-rated peers and ensure growth isn't derailed by low prices and downside risks. Key objectives will include; 1) ensuring the Bakken can compete with other tight oil plays, 2) delivering the value potential offshore Guyana, and 3) potentially bolstering the portfolio through business development.