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4Q 2015 Supplemental Earnings Information – Hess Corp

Hess Corp · Jan 26, 2016 · 30 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. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 1
    Fourth Quarter 2015
  2. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 2
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity In millions, except per share data 4Q 4Q 3Q 2015 2014 2015 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  3. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 3
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity In millions, except per share data 4Q 4Q 3Q 2015 2014 2015 Adjusted Net Income (Loss)* Exploration and Production (328)…
  4. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 4
    Items Affecting Comparability of Earnings Between Periods (Amounts are after income taxes) 4Q 2015 Exploration and Production Results include: A nontaxable goodwill impairment charge of 1,098 million related to the Corporations…
  5. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts are after income taxes) 4Q 2014 Exploration and Production Results include: A charge of 48 million for remeasurement of deferred taxes resulting from legal entity…
  6. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 6
    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…
  7. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 7
    Consolidated Adjusted Net Income (Loss) Millions 4Q 2015 vs. 4Q 2014 4Q 2015 vs. 3Q 2015 500 500 400 400 300 300 200 200 53 (466) 100 (396) 100 (291) (396) - - (100) (100) (200) (200) (107) (300) (300) 7 3 14 (5) (400)…
  8. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Net Income (Loss) 4Q 2015 vs. 4Q 2014 Exploration and Production The decrease in earnings was primarily attributable to lower realized selling prices and higher depreciation, depletion and amortization…
  9. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 9
    Exploration and Production Adjusted Net Income (Loss) Millions 4Q 2015 vs. 4Q 2014 4Q 2015 vs. 3Q 2015 250 250 200 200 138 (422) 150 150 100 100 50 50 (221) (328) (328) - - (50) (50) (100) (100) (150) (150) (33) (200)…
  10. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 10
    Worldwide Oil & Gas Production MBOEPD 4Q 2015 vs. 4Q 2014 4Q 2015 vs. 3Q 2015 450 450 30 (1) (11) 380 (10) (12) 368 400 (2) 2 (2) 368 400 362 8 10 10 350 19 350 300 300 250 250 200 200 372 358 343 358 150 150 100…
  11. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 11
    Capital and Exploratory Expenditures Millions Three Months Ended 1,800 December 31, 1,700 133 2015 2014 1,600 E&P Capital and Exploratory Expenditures 1,500 191 United States 1,400 248 564 Bakken 1,300 Other Onshore 72 179…
  12. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 12
    Capital and Exploratory Expenditures Millions Year Ended 6,000 December 31, 5,500 301 2015 2014 340 E&P Capital and Exploratory Expenditures 5,000 United States 4,500 Bakken 1,308 1,854 1,081 Other Onshore 332 725 296…
  13. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 13
    Bakken Midstream Adjusted Net Income & Throughput Millions 4Q 2015 vs. 4Q 2014 4Q 2015 vs. 3Q 2015 40 40 24 (1) 9 (22) (5) 30 30 (2) 20 20 16 (6) 11 5 11 (1) (5) 10 8 10 0 2 - - 4Q 2014 Revenue DD&A Operating…
  14. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 14
    OTHER INFORMATION 14
  15. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 15
    2016 Guidance to Investors Guidance**** Full Year 1Q Production (MBOEPD) Total 330 - 350 340 - 350 Bakken 95 - 105 95 - 105 Unit Cost (/BOE)* Cash Costs 14.50 - 15.50 15.00 - 16.00 DD&A 28.50 - 29.50 29.00 - 30.00 Total…
  16. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 16
    BAKKEN OPERATIONAL DATA 16
  17. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 17
    Bakken Production - 2015 Net Production by Product 2015 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 81 78 82 85 79 NGL MBBLPD 20 21 20 22 19 Gas MMCFPD 64 60 65 71 58 Total MBOEPD* 112 109 113 119 108 Net Production by Operatorship 2015…
  18. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 18
    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…
  19. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 19
    Bakken Operational Well Statistics - 2015 Hess Operated Wells 2015 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 8 7 7 8 12 Drilling Days Spud-to-Spud 18 16 17 18 21 2015 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 182 35 42…
  20. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 20
    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…
  21. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 21
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 110 Dunn_3F Dunn_MB McKenzie_3F McKenzie_MB Mountrail_3F Mountrail_MB Williams_3F Williams_MB 100 9 90 4 80 16 70 14 60 18 17 4 9 3…
  22. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 22
    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 3.2 3.5 3.9 Completion MM/Well 2.3 1.9 2.1 2.1 2.9 Total MM/Well 5.8 5.1 5.3 5.6 6.8…
  23. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 23
    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…
  24. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 24
    UTICA OPERATIONAL DATA 24
  25. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 25
    Utica Production - 2015 Net Production by Product 2015 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 2 2 2 2 2 NGL MBBLPD 7 8 8 7 4 Gas MMCFPD 96 124 112 82 65 Total MBOEPD* 24 30 28 22 17 Net Production by Operatorship 2015 YTD Avg 4Q 3Q…
  26. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 26
    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…
  27. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 27
    Utica Operational Well Statistics - 2015 Hess/CNX Operated Activities 2015 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 2 1 1 2 2 2015 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 24 4 5 10 5 Completion by Qrtr 32 8 5 15 4…
  28. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 28
    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…
  29. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 29
    Utica Well Costs, Working Interest and Acreage - 2015 Average Well Cost - Hess Operated 2015 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 5.3 4.4 5.4 4.8 6.5 Completion MM/Well 4.3 3.8 5.2 4.2 3.9 Total MM/Well 9.6 8.2 10.6 9.0 10.4…
  30. 4Q 2015 Supplemental Earnings Information – Hess Corp – slide 30
    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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