In this video, Motley Fool Energy Analyst Joel South tells us everything we need to know when looking at Hess (NYSE:HES) today. He outlines some major structural changes to the company, including a spinoff of its refining capabilities, and the impact it will have on the company going forward. He also tells us about Hess' debt problem, and the steps that management is taking to dig itself out. Finally, he talks about Hess' aggressive three-pronged strategy for the company's future.

Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.