Hess Corporation (NYSE:HES) announced a 2012 capital and exploratory budget of $6.8 billion, nearly all of which is targeted for Exploration and Production: $2.5 billion for unconventionals, $1.6 billion for production, $1.8 billion for developments and $800 million for exploration.

The biggest of the biggest, Exxon Mobil (NYSE: XOM), announced third quarter earnings this morning. It was a decent report, as the world's largest oil & gas company reported quarterly revenues that were over $125 billion. Yet, just because it is the biggest, does not make it the best.

Hess Corporation (NYSE:HES) announced that it will hold a conference call on Wednesday, October 26, at 10 a.m. Eastern Daylight Time to discuss its third quarter 2011 earnings release.

Hess Corporation and its subsidiaries operate as an integrated energy company. It operates in two segments, Exploration and Production (E&P) and Marketing and Refining (M&R).