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HESS CORPORATION

(HES)
  Report
Delayed Nyse  -  04:00 2022-12-02 pm EST
144.02 USD   +0.45%
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North Dakota Tribal College System Announces Statewide Apprenticeship Program in Partnership with Hess Corporation, Halliburton and Nabors Industries

09/23/2022 | 11:31am EST

The North Dakota Tribal College System (NDTCS) today announced a new apprenticeship program developed in partnership with Hess Corporation to improve educational and employment opportunities for Native Americans across North Dakota.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220922005823/en/

Over the next four years, Hess will invest $12 million to provide tuition assistance, stipends and other support for establishing apprenticeships in a variety of industries designed by each of the state’s five tribal colleges based on the local job market and needs of their tribal communities. Halliburton and Nabors Industries will each invest $1 million in the new apprenticeship program.

Following the “earn and learn” model of the apprenticeship program currently in place at Lake Region State College, the new statewide program will provide tribal college students with on-the-job skills training through college work study, internships and apprenticeships as they progress toward completing a two-year degree or technical certification, with the possibility of earning a bachelor’s or master’s degree depending on the apprenticeship position and location. The new apprenticeship program is scheduled to begin in January 2023.

Speaking in the State Capitol at a ceremony commemorating the announcement, Gov. Doug Burgum recognized the significance of the new program.

“Public-private partnerships can be transformative, and the program being launched today is another great example of our state’s private-sector partners believing and investing in the future of North Dakota,” Governor Burgum said. “With today’s announcement, Hess, Nabors, and Halliburton are providing essential resources for our tribal colleges to invest in students in a way that can spark generational change and empower people, improve lives and inspire success.”

Also speaking at the announcement, Cankdeska Cikana (Little Hoop) Community College President Dr. Cynthia Lindquist said: “The partnership we are announcing today reflects the tireless efforts of everyone involved over the past 18 months to design a program that serves a traditional education mission while concurrently responding to deeper community needs. We are excited to develop new career and workforce opportunities for our young people and are very pleased to have the support from Hess, Nabors, Halliburton and the Governor.”

Hess CEO John Hess said: “Our company has a longstanding commitment to making a positive social impact on the communities where we operate. We are proud to support the North Dakota Tribal College System in developing a comprehensive program to provide students with education and employment opportunities that will lead to rewarding careers.”

Nabors Senior Vice President and Chief Administrative Officer Jade Strong said: “Nabors is committed to strengthening the communities that our employees call home. We are honored to support the NDTCS and advanced educational opportunities that can change lives and launch careers across North Dakota.”

Halliburton Chairman, President, and CEO Jeff Miller said: “As a company with a long history of operations in North Dakota, we see this program as a fantastic way to develop and nurture skills necessary for the future productivity of the local economy as well as for Halliburton. We are excited to support the NDTCS and this program.”

About the Initiative: The project to improve workforce, training, and education opportunities utilizes the apprenticeship pathway for Native people living in North Dakota via the North Dakota Tribal College System (NDTCS) in partnership with Lake Region State College (LRSC). The colleges under NDTCS have identified varied apprenticeship programs for consideration in areas such as HVAC, plumbing, heavy equipment, welding, building trades, auto tech, CDL, carpentry, IT, nursing, and professional positions at the colleges.

North Dakota Tribal College System (NDTCS): Chartered by federally recognized Tribal governments, North Dakota’s Tribal colleges teach and preserve culture and language as a component of the academic curriculum. Tribal colleges are public, affordable, non-profit post-secondary institutions accredited by the Higher Learning Commission, the same as state post-secondary institutions. Tribal colleges proactively collaborate with the North Dakota University System to enhance students’ academic experience that allows for seamless transfers. More information is available at www.ndtcs.org.

Hess Corporation (NYSE: HES) is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. The company is recognized as an industry leader in environmental, social and governance performance and disclosure. More information on Hess Corporation is available at www.hess.com.

Halliburton: Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 45,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company's website at www.halliburton.com.

Nabors Industries: Nabors Industries is a leading provider of advanced technology for the energy industry. With operations in more than 15 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science, and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.


ę Business Wire 2022
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Financials (USD)
Sales 2022 11 654 M - -
Net income 2022 2 277 M - -
Net Debt 2022 5 091 M - -
P/E ratio 2022 19,6x
Yield 2022 0,99%
Capitalization 44 170 M 44 170 M -
EV / Sales 2022 4,23x
EV / Sales 2023 4,04x
Nbr of Employees 1 545
Free-Float 89,7%
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 144,02 $
Average target price 146,57 $
Spread / Average Target 1,77%
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Managers and Directors
John B. Hess Chief Executive Officer & Director
Gregory P. Hill President & Chief Operating Officer
John P. Rielly Executive VP, Chief Financial & Accounting Officer
James H. Quigley Independent Chairman
Richard Lynch SVP-Global Developments, Drilling & Completions
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