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2014 ANNUAL MEETING OF Stockholders – Hess Corp

Hess Corp · May 7, 2014 · 24 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 1
    2014 ANNUAL MEETING OF STOCKHOLDERS MAY 7, 2014
  2. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 2
    John Hess Chief Executive Officer
  3. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 3
    Pure Play E&P Driving Shareholder Value Focused World Class Portfolio Visible growth in production of 5%-8% CAGR (2012 Pro Forma - 2017) Long life assets in areas where Hess has proven capability Five key areas represent 80% of…
  4. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 4
    Transformation to Pure Play E&P Integrated Oil CompanyWhat Weve Promised Focused Pure Play E&P Key Deliverables 2013 Divested more than 50% of E&P assets over 4 years Focused Pure Play E&P Built leading U.S. shale positions, e.g.…
  5. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 5
    Progress on 2013 Divestiture Program After Tax Proceeds Asset Terms Agreed Date Completion Date (in millions) Beryl Oct-2012 Jan-2013 440 Azerbaijan (ACG) Sep-2012 Mar-2013 880 Eagle Ford Mar-2013 May-2013 280 Russia (Samara-Nafta)…
  6. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 6
    E&P Portfolio Focused in Five Areas Located in Areas Where Hess is Competitively Advantaged Valhall / Pro Forma Metrics South Arne 11% Prod. 2013A Production (Mboe/d) 285 Bakken 24% Res. 23% Prod. Utica 31% Res. 2013A Reserves…
  7. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 7
    Three Pronged Strategy to Drive Growth and Returns Unconventional Pro Forma Production Bakken free cash positive in 2015 Large inventory of high return Bakken well locations goal of 150mbd by 2018 Leading position in emerging…
  8. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 8
    Leading Oil-Linked Asset Base 76% Liquids Source: SEC filings, company annual reports, and company press releases 9 Note: Percentage of reserves that are liquids based for peers calculated as per 2013 year-end SEC filings;…
  9. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 9
    Industry Leading Cash Margin 2013 49.0 41.1 36.4 35.2 33.1 32.4 32.3 30.9 27.8 27.5 /BOE 18.4 17.4 Hess MUR OXY EOG APA NBL COP MRO APC TLM CHK DVN 2009 to 2013 36.9 34.6 32.2 29.9 28.9 27.9 27.6 27.5 27.4 26.8…
  10. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 10
    Enhanced Financial Flexibility and Providing Current Returns to Shareholders Financial Flexibility to Fund Future Total Upstream Capital and Exploratory Expenditures Growth Paid down 2.4 billion of short term debt 8.1 bn with…
  11. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 11
    Greg Hill President and Chief Operating Officer
  12. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 12
    Unconventional Exploitation Exploration World Class Position in Bakken Shale Strategic / Portfolio Context Burke Single biggest contributor to production growth Tioga Rail Terminal through 2018 Tioga Gas Plant Competitively…
  13. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 13
    Unconventional Exploitation Exploration Driving Performance in the Bakken Reducing Well Costs Drilling Performance: Spud-to-Spud Days Drilling & Completion Costs (mm) 49% improvement 44% improvement While Optimizing Well…
  14. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 14
    Unconventional Exploitation Exploration Significant Value Uplift From Bakken Infrastructure Tioga Rail Terminal Strategic / Portfolio Context Flexibility to access highest value markets Maximize value per boe Intend to monetize…
  15. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 15
    Unconventional Exploitation Exploration Core Position in Emerging Ohio Utica Shale Play Oil Wet Gas Dry Gas Strategic / Portfolio Context Jefferson Cadiz A 1H-23 Material position in wet gas area Green A 1H-6 Leverages Bakken…
  16. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 16
    Unconventional Exploitation Exploration Valhall Multi-Year Drilling Opportunities Strategic / Portfolio Context Long life, material asset; 3.2 Bboe originally in place (gross) Key forward contributor to reserves, production and…
  17. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 17
    Unconventional Exploitation Exploration North Malay Basin Low Risk Oil-Linked Gas Development Cakerawala Strategic / Portfolio Context JDA Platform Low risk development of 9 discovered Thailand gas fields Material production and…
  18. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 18
    Unconventional Exploitation Exploration Deepwater Gulf of Mexico Portfolio Strategic / Portfolio Context Asset Details Target to maintain production of Key producing assets: Shenzi, 70 Mboe/d through 2017 Conger and Llano…
  19. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 19
    Unconventional Exploitation Exploration Tubular Bells High Margin Asset; On Line 3Q14 Strategic / Portfolio Context Louisiana Tubular Bells Material high margin asset Key contributor to production Stampede growth and cash…
  20. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 20
    Unconventional Exploitation Exploration Ghana Deep Water Tano Cape Three Points Cote dIvoire Ghana Hess 50% W.I., operator Hess Operated 7 discoveries material to resource base Hess Discovery Industry Developments Builds on West…
  21. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 21
    Unconventional Exploitation Exploration Kurdistan Dinarta and Shakrok Turkey Hess 64% W.I., operator Shireen Iran Conducting production tests at Bradost Shakrok in 2Q14 Dinarta Expect to spud Shireen in 2Q14 Pelewan Chinara…
  22. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 22
    John Hess Chief Executive Officer
  23. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 23
    Pure Play E&P Driving Shareholder Value Focused World Class Portfolio Three Pronged Strategy to Drive Growth and Returns While Managing Risk Financial Flexibility to Fund Future Growth Providing Current Returns to…
  24. 2014 ANNUAL MEETING OF Stockholders – Hess Corp – slide 24

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