Hess Corporation, together with its subsidiaries, operates as an integrated energy company. The company operates in two segments, Exploration and Production (E&P) and Marketing and Refining (M&R). The E&P segment explores for, develops, produces, purchases, transports, and sells crude oil and natural gas. This segment engages in exploration and production activities principally in Algeria, Australia, Azerbaijan, Brazil, Brunei, China, Denmark, Egypt, Equatorial Guinea, France, Ghana, Indonesia, the Kurdistan region of Iraq, Libya, Malaysia, Norway, Peru, Russia, Thailand, the United Kingdom, and the United States. The M&R segment manufactures refined petroleum products; and purchases, markets, and trades refined petroleum products, natural gas, and electricity. This segment serves motoring public, wholesale distributors, industrial and commercial users, other petroleum companies, governmental agencies, and public utilities. As of December 31, 2011, the company had total proved reserves of 1,573 million barrels of oil equivalent; and 1,360 HESS gasoline stations, including stations owned by WilcoHess joint venture in New York, New Jersey, Pennsylvania, Florida, Massachusetts, North Carolina, and South Carolina. It also operates a refining facility, terminals, and retail gasoline stations with convenience stores located on the East Coast of the United States. The company owns 20 terminals with an aggregate storage capacity of 21 million barrels in its East Coast marketing areas, as well a terminal in St. Lucia with a storage capacity of 10 million barrels. Hess Corporation was founded in 1920 and is based in New York, New York.