Hess flies to Menorca as Chevron slashes 8,000 jobs post-merger

Hess Corporation’s Gulfstream G650ER, tail number N1454H, departed Newark Liberty International Airport shortly before midnight on June 17 and landed at Menorca Airport six and a half hours later on June 18. The flight arrived the same week Chevron, which closed its $53 billion acquisition of Hess in July 2025, disclosed it would eliminate up to 8,000 jobs by the end of 2026, starting with 575 cuts at the former Hess Tower in Houston [budsoffshoreenergy.com].

Chevron’s prize in the merger—the 30% stake in ExxonMobil’s Stabroek block offshore Guyana—continued to generate outsized returns. Combined profits from the block reached $7.56 billion in 2025, with Chevron’s share at $2.89 billion, though lower oil prices shrank Hess’s 2025 profit from $3.15 billion the year prior [oilnow.gy]. The block now produces over 900,000 barrels per day, with plans to hit 1.3 million by 2027 via new FPSOs [energynewsbeat.co].

Just a week before the Menorca landing, the same aircraft made a trip to Guyana (June 11), underscoring the continued operational focus on Stabroek. The Balearic stop, not one of Hess’s typical business destinations, suggests a corporate retreat or strategic planning session—perhaps to decide which of the 8,000 pink slips land on which desks.