UPDATED 17:41 PM EST, January 28, 2013
The New York-based company also disclosed that Elliott Associates LP and one of its affiliates plan to ask federal regulators for permission to buy a major stake in the company and may seek board seats at the annual meeting in May.
The investment firm did not conduct talks with Hess before notifying the company of its plans. It could ask to buy shares worth more than $800 million, Hess said.
The news sent Hess shares up more than 6 percent in afternoon trading, making it one of the market's biggest gainers.
