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.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.