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SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp

Hess Corp · Feb 10, 2015 · 27 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. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 1
    Fourth Quarter 2014
  2. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 3
    Reported Net Income, Items Affecting Comparability and Adjusted Net Income by Operating Activity In millions, except per share data 4Q 4Q 3Q 2014 2013 2014 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP) Exploration…
  4. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 4
    Reported Net Income, Items Affecting Comparability and Adjusted Net Income by Operating Activity In millions, except per share data 4Q 4Q 3Q 2014 2013 2014 Adjusted Net Income (Loss)* Exploration and Production 147 436 412…
  5. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 5
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 4Q 2014 Exploration and Production Earnings include: A charge of 48 million for remeasurement of deferred taxes resulting from legal entity…
  6. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 6
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 4Q 2013 Exploration and Production Earnings include: Net income of 156 million associated with the divestiture of the Corporations Indonesian assets.…
  7. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 7
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 3Q 2014 Exploration and Production Earnings include: A gain of 33 million from the sale of the Corporations interest in an exploration asset in the United…
  8. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 8
    Consolidated Adjusted Net Income Millions 4Q 2014 vs. 4Q 2013 4Q 2014 vs. 3Q 2014 500 500 400 400 377 (265) 319 (289) 300 300 200 200 (14) (45) 100 100 15 8 53 53 - - 4Q 2013 E&P Corporate, Discontinued 4Q 2014 3Q…
  9. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 9
    Analysis of Consolidated Adjusted Net Income 4Q 2014 vs. 4Q 2013 Exploration and Production The decrease in earnings was primarily attributable to lower realized selling prices and higher depreciation, depletion and amortization…
  10. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 10
    Exploration and Production Adjusted Net Income Millions 4Q 2014 vs. 4Q 2013 4Q 2014 vs. 3Q 2014 500 500 436 (340) 412 (303) 400 400 300 187 (127) 300 132 (22) (50) 200 19 (28) 200 (22) 147 147 100 100 - - 4Q 2013…
  11. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 11
    Worldwide Oil & Gas Production MBOEPD 4Q 2014 vs. 4Q 2013 4Q 2014 vs. 3Q 2014 450 450 21 (28) 400 59 3 362 400 7 362 10 10 318 15 12 10 350 307 350 300 4 32 300 250 250 200 200 352 352 150 150 314 275 100 100 50 50…
  12. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 12
    Capital and Exploratory Expenditures 4Q 2014 and 2013 Millions 2,000 Three Months Ended December 31, 2014 2013 Exploration and Production 230 United States 1,500 Bakken 691 571 134 Other Onshore 186 202 360 Total Onshore 877…
  13. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 13
    Capital and Exploratory Expenditures YTD 2014 and 2013 Millions 7,000 Year Ended December 31, 2014 2013 6,000 507 Exploration and Production United States 546 Bakken 2,149 2,231 5,000 1,249 Other Onshore 731 766 Total…
  14. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 14
    OTHER INFORMATION 13
  15. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 15
    2015 Guidance to Investors Guidance*** Full Year 1Q Production (MBOEPD) Pro forma 350 - 360 330 - 340 Bakken 95 - 105 95 - 105 Unit Cost (/BOE)* Cash Costs 19.50 - 20.50 20.50 - 21.50 DD&A 28.50 - 29.50 28.50 - 29.50 Total…
  16. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 16
    BAKKEN OPERATIONAL DATA 15
  17. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 17
    Bakken Production - 2014 Net Production by Product 2014 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 66 78 63 64 58 NGL MBBLPD 10 16 15 8 2 Gas MMCFPD 40 50 46 48 15 Total MBOEPD* 83 102 86 80 63 Net Production by Operatorship 2014 YTD…
  18. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 18
    Bakken Production - 2013 Net Production by Product 2013 FY Avg 4Q 3Q 2Q 1Q Oil MBBLPD 55 57 57 52 53 NGL MBBLPD 6 5 7 6 6 Gas MMCFPD 38 33 44 39 34 Total MBOEPD* 67 68 71 64 65 Net Production by Operatorship 2013 FY Avg 4Q…
  19. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 19
    Bakken Operational Well Statistics - 2014 Hess Operated Wells 2014 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 17 17 17 17 17 Drilling Days Spud-to-Spud 22 22 22 22 23 2014 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 261…
  20. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 20
    Bakken Operational Well Statistics - 2013 Hess Operated Wells 2013 FY Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 14 14 14 14 15 Drilling Days Spud-to-Spud 26 26 24 27 26 2013 FY 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 195 49…
  21. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 21
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 100 Dunn_3F Dunn_MB McKenzie_3F McKenzie_MB Mountrail_3F 9 Mountrail_MB Stark_3F Williams_3F Williams_MB 90 4 80 16 70 60 17 9 3 50 2 2…
  22. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 22
    Bakken Well Costs, Working Interest and Acreage - 2014 Average Well Cost - Hess Operated 2014 YTD 4Q 3Q 2Q 1Q Drilling MM/Well 4.3 3.9 4.2 4.5 4.7 Completion MM/Well 3.0 3.2 3.0 2.9 2.8 Total MM/Well 7.3 7.1 7.2 7.4 7.5…
  23. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 23
    Bakken Well Costs, Working Interest and Acreage - 2013 Average Well Cost - Hess Operated 2013 FY 4Q 3Q 2Q 1Q Drilling MM/Well 4.9 4.8 4.8 5.1 4.8 Completion MM/Well 3.2 2.8 3.0 3.3 3.8 Total MM/Well 8.1 7.6 7.8 8.4 8.6 Average…
  24. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 24
    UTICA OPERATIONAL DATA 23
  25. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 25
    Utica Production - 2014 Net Production by Product 2014 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 1 1 2 - - NGL MBBLPD 2 4 2 1 1 Gas MMCFPD 36 45 39 37 23 Total MBOEPD* 9 13 11 7 5 Net Production by Operatorship 2014 YTD Avg 4Q 3Q 2Q…
  26. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 26
    Utica Operational Well Statistics - 2014 Hess/CNX Operated Activities 2014 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 4 3 4 4 4 2014 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 38 10 10 10 8 Completion by Qrtr 36 10 11…
  27. SUPPLEMENTAL EARNINGS INFORMATION – Hess Corp – slide 27
    Utica Well Costs, Working Interest and Acreage - 2014 Average Well Cost - Hess Operated 2014 YTD 4Q 3Q 2Q 1Q Drilling MM/Well 6.8 6.6 6.7 6.7 7.4 Completion MM/Well 6.9 7.0 7.4 7.4 5.9 Total MM/Well 13.7 13.6 14.1 14.1 13.3…

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