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Q3 2015 Earnings Update – Hess Corp

Hess Corp · Oct 27, 2015 · 31 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. Q3 2015 Earnings Update – Hess Corp – slide 1
    Third Quarter 2015
  2. Q3 2015 Earnings Update – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. Q3 2015 Earnings Update – Hess Corp – slide 3
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity In millions, except per share data 3Q 3Q 2Q 2015 2014 2015 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. Q3 2015 Earnings Update – Hess Corp – slide 4
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity In millions, except per share data 3Q 3Q 2Q 2015 2014 2015 Adjusted Net Income (Loss)* Exploration and Production (221)…
  5. Q3 2015 Earnings Update – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts are after income taxes) 3Q 2015 Exploration and Production Results include: A gain of 31 million from the sale of dry gas acreage in the Utica shale play. A tax…
  6. Q3 2015 Earnings Update – Hess Corp – slide 6
    Items Affecting Comparability of Earnings Between Periods (Amounts are after income taxes) 3Q 2014 Exploration and Production Results include: A gain of 33 million from the sale of the Corporations interest in an exploration asset…
  7. Q3 2015 Earnings Update – Hess Corp – slide 7
    Items Affecting Comparability of Earnings Between Periods (Amounts are after income taxes) 2Q 2015 Exploration and Production Results include: A noncash goodwill impairment charge of 385 million associated with the Corporations E&P…
  8. Q3 2015 Earnings Update – Hess Corp – slide 8
    Consolidated Adjusted Net Income (Loss) Millions 3Q 2015 vs. 3Q 2014 3Q 2015 vs. 2Q 2015 500 500 377 (625) 400 400 300 300 200 200 100 100 (291) (147) (291) - - (100) (100) (125) (200) 8 (6) (45) (200) (16) (3) (300)…
  9. Q3 2015 Earnings Update – Hess Corp – slide 9
    Analysis of Consolidated Adjusted Net Income (Loss) 3Q 2015 vs. 3Q 2014 Exploration and Production The decrease in earnings was primarily attributable to lower realized selling prices and higher depreciation, depletion and…
  10. Q3 2015 Earnings Update – Hess Corp – slide 10
    Exploration and Production Adjusted Net Income (Loss) Millions 3Q 2015 vs. 3Q 2014 3Q 2015 vs. 2Q 2015 550 550 500 500 450 404 (743) 450 400 400 350 350 300 300 250 250 200 200 150 150 100 100 50 (221) 50 (96) (221) - -…
  11. Q3 2015 Earnings Update – Hess Corp – slide 11
    Worldwide Oil & Gas Production MBOEPD 3Q 2015 vs. 3Q 2014 3Q 2015 vs. 2Q 2015 450 450 391 (3) (3) (2) 380 1 2 (11) 380 400 55 12 400 350 318 350 300 300 250 250 200 200 150 150 100 100 50 50 - - 3Q 2014 United Europe…
  12. Q3 2015 Earnings Update – Hess Corp – slide 12
    Capital and Exploratory Expenditures Millions Three Months Ended 1,500 September 30, 1,400 47 2015 2014 53 1,300 E&P Capital and Exploratory Expenditures 1,200 United States 255 Bakken 295 525 1,100 Other Onshore 70 191…
  13. Q3 2015 Earnings Update – Hess Corp – slide 13
    Capital and Exploratory Expenditures Millions Nine Months Ended 4,200 September 30, 3,900 2015 2014 168 3,600 149 E&P Capital and Exploratory Expenditures United States 3,300 193 647 Bakken 1,060 1,290 3,000 Other Onshore…
  14. Q3 2015 Earnings Update – Hess Corp – slide 14
    Bakken Midstream Adjusted Net Income & Throughput Millions 3Q 2015 vs. 3Q 2014 3Q 2015 vs. 2Q 2015 60 60 50 50 36 (2) 10 (27) (7) 9 (27) 40 40 2 (2) (2) 2 (0) 32 30 30 20 20 16 16 10 8 10 - - 3Q 2014…
  15. Q3 2015 Earnings Update – Hess Corp – slide 15
    OTHER INFORMATION 14
  16. Q3 2015 Earnings Update – Hess Corp – slide 16
    2015 Guidance to Investors Guidance**** Actual Full Year 4Q 3Q 2Q 1Q Production (MBOEPD) Total 370 - 375 360 380 391 361 Bakken 110 100 - 105 113 119 108 Unit Cost (/BOE)* Cash Costs 15.50 - 16.00 16.00 - 17.00 14.98 15.65…
  17. Q3 2015 Earnings Update – Hess Corp – slide 17
    BAKKEN OPERATIONAL DATA 16
  18. Q3 2015 Earnings Update – Hess Corp – slide 18
    Bakken Production - 2015 Net Production by Product 2015 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 82 82 85 79 NGL MBBLPD 20 20 22 19 Gas MMCFPD 65 65 71 58 Total MBOEPD* 113 113 119 108 Net Production by Operatorship 2015 YTD Avg 4Q 3Q…
  19. Q3 2015 Earnings Update – Hess Corp – slide 19
    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…
  20. Q3 2015 Earnings Update – Hess Corp – slide 20
    Bakken Operational Well Statistics - 2015 Hess Operated Wells 2015 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 9 7 8 12 Drilling Days Spud-to-Spud 19 17 18 21 2015 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 147 42 45 60…
  21. Q3 2015 Earnings Update – Hess Corp – slide 21
    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…
  22. Q3 2015 Earnings Update – Hess Corp – slide 22
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 110 Dunn_3F Dunn_MB McKenzie _3F McKenzie _MB 100 Mountrail_3F Mountrail_MB Williams_3F Williams_MB 9 90 4 80 16 70 14 60 18 17 4 9…
  23. Q3 2015 Earnings Update – Hess Corp – slide 23
    Bakken Well Costs, Working Interest and Acreage - 2015 Average Well Cost - Hess Operated 2015 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 3.5 3.2 3.5 3.9 Completion MM/Well 2.4 2.1 2.1 2.9 Total MM/Well 5.9 5.3 5.6 6.8 Average…
  24. Q3 2015 Earnings Update – Hess Corp – slide 24
    Bakken Well Costs, Working Interest and Acreage - 2014 Average Well Cost - Hess Operated 2014 YTD Avg 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…
  25. Q3 2015 Earnings Update – Hess Corp – slide 25
    UTICA OPERATIONAL DATA 24
  26. Q3 2015 Earnings Update – Hess Corp – slide 26
    Utica Production - 2015 Net Production by Product 2015 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 2 2 2 2 NGL MBBLPD 6 8 7 4 Gas MMCFPD 86 112 82 65 Total MBOEPD* 22 28 22 17 Net Production by Operatorship 2015 YTD Avg 4Q 3Q 2Q 1Q…
  27. Q3 2015 Earnings Update – Hess Corp – slide 27
    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…
  28. Q3 2015 Earnings Update – Hess Corp – slide 28
    Utica Operational Well Statistics - 2015 Hess/CNX Operated Activities 2015 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 2 1 2 2 2015 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 20 5 10 5 Completion by Qrtr 24 5 15 4 On…
  29. Q3 2015 Earnings Update – Hess Corp – slide 29
    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…
  30. Q3 2015 Earnings Update – Hess Corp – slide 30
    Utica Well Costs, Working Interest and Acreage - 2015 Average Well Cost - Hess Operated 2015 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 5.6 5.4 4.8 6.5 Completion MM/Well 4.5 5.2 4.2 3.9 Total MM/Well 10.1 10.6 9.0 10.4 Drilling /Ft…
  31. Q3 2015 Earnings Update – Hess Corp – slide 31
    Utica Well Costs, Working Interest and Acreage - 2014 Average Well Cost - Hess Operated 2014 YTD Avg 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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