Hess Donates $300,000 to LA 1 Highway Initiative

Apr 26, 2018 11:00 am

The LA 1 Coalition, today received a $300,000 grant from Hess Corporation (NYSE: HES) to help build phase 2 of the Louisiana Highway One (LA 1) Improvement Project. The project supports the ongoing redevelopment of Louisiana Highway One, which is located in the state’s southern Lafourche Parish. The region is the gateway to energy production from the Gulf of Mexico, supporting 18 percent of the Unites States domestic oil production and 4 percent of its natural gas production.

Speaking at a ground breaking event for the phase 2 construction in Leeville, Louisiana, LA 1 Executive Director, Henri Boulet thanked the oil and gas industry for its financial support and singled out Hess Corporation for its generous contribution:

“The LA 1 Coalition is extremely grateful to Hess Corporation for their recognition of the importance of Louisiana Highway One to south Louisiana, and for recognizing the value of this donation as a tool for leveraging other stakeholder participation. This represents the strong partnership that exists between our community, industry, state and federal governments to advance the LA 1 Project to completion and strengthen the resiliency of our working coast.”

Hess Corporation Vice-President for the Offshore, Gerbert Schoonman, noted that, “the highway is a critical corridor for the nation's energy supply, and an important route for Louisiana’s seafood and tourism industries. Hess recognizes that the upgrade of LA Highway 1 will not only help improve commerce, but also improve the quality of life for the many thousands of people that depend on this important state highway for their livelihoods.”

The significance of the highway to the national economy was confirmed in a U.S. Department of Homeland Security (DHS) authored study in 2011, which assessed the national consequences of disruptions to LA Highway 1. The report by DHS concluded that a 90-day closure of 7.1 miles along existing at-grade LA Highway 1 could result in up to a $7.8 billion loss to American gross domestic product.

The LA 1 Coalition was established in 1997 by a group of area residents and businesses, to advocate for improving the highway system between Grand Isle and U.S. Highway 90 - an area that has been subject to severe flooding for a number of years. The goal of the group has been to see the highway rebuilt well above any possible storm surge heights.

About Hess Corporation

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. Hess is committed to meeting the highest standards of corporate citizenship and creating a positive impact on the communities where it operates. More information is available at http://www.hess.com

For Hess Corporation
Rob Young, 346-319-8783