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Credit Suisse 21st Annual Energy Summit – Hess Corp

Hess Corp · Feb 24, 2016 · 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. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 1
    HESS CORPORATION CREDIT SUISSE ENERGY SUMMIT FEBRUARY 24, 2016
  2. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 2
    Our Strategy in the Low Oil Price Environment Pro forma year-end 2015 cash balance of 4.3 billion and total liquidity of 9 billion1 Preserve Balance Pro forma Net Debt / Cap of 8%1 Sheet Strength 2016 capital and exploratory budget…
  3. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 3
    One of the Strongest Balance Sheets And liquidity positions among E&P Peers 9 B of Liquidity Post Equity Offering Peer Net Debt-to-Capital Ratio 68% 70% Q3 2015 - 4.3 B Cash 60% 60% 52% - 4.0 B Unused Revolver 50% 45% - 0.7 B…
  4. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 4
    Focused Resilient Portfolio Linked by operating capabilities Valhall & 2016 Production: 330 - 350 MBOED Bakken Utica 30% Prod 7% Prod South Arne P1 Reserves: 1.1 BBOE 28% Res 2% Res 13% Prod 6P Resources: 7.4 BBOE 25% Res…
  5. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 5
    Industry Leading Operating Performance Unconventionals - Bakken Reducing Well Costs Drilling Performance: Spud-to-Spud (Days) Drilling & Completions Performance: Costs (MM) 45 Completion Costs Drilling Costs 13.4 39 64% Improvement…
  6. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 6
    Industry Leading Operating Capabilities Offshore drilling and project delivery Industry Project Delivery (IPA Study 2005 - 2013) -20% Drilling Performance Quartile 1st 2nd 3rd 4th Hess Under Others Ghana T Bells 0% North…
  7. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 7
    Focused Resilient Portfolio Leveraged to liquids with industry leading cash margins US 2015 Gas 12% Hess Production Int'l Liquids % of YE 2014 Pro Forma Gas 14% 74% Reserves Liquids NGLs 100% 11% 80% Crude Oil 80% 78% 76% 63%…
  8. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 8
    One of the Best Positions in the Bakken Competitively advantaged with Lean manufacturing process Divide Strategic / Portfolio Context Burke - Industry leading acreage position in the core Tioga Rail Terminal Kenmare of the Middle…
  9. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 9
    One of the Best Positions in the Bakken Material position in the core of the Bakken 400 More DSUs in Core of Middle Bakken 30+ Stage Wells Since 2012 Than Any Other Operator Hess Acreage No. of DSUs Goliath East Nesson 300…
  10. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 10
    One of the Best Positions in the Bakken Advantaged infrastructure maximizing value Tioga Rail Terminal Hess sold 50% interest in Bakken Midstream assets to GIP for 2.675 B Sardinia Created new joint venture called Hess…
  11. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 11
    Utica: Material Position in the Wet Gas Window Acreage in play sweet spot with high NRI JV Acreage Optimum Mix of Pressure and Liquid Content Tier 1 Acreage Strategic / Portfolio Context Tier 2 Acreage - Wells highly productive,…
  12. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 12
    Deepwater Gulf of Mexico: Tubular Bells Low cost production leveraging deepwater capability Strategic / Portfolio Context - Material growth asset - Key contributor to production and cash flow - Leverages deepwater capability Water…
  13. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 13
    Deepwater Gulf of Mexico: Stampede Building on Tubular Bells success 6 Production Wells GC 468 4 Injection Wells Host Platform Strategic / Portfolio Context 1 mile - Leverages proven deepwater capability Drill Center B Drill…
  14. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 14
    West Africa: Equatorial Guinea Maximizing value through 4D seismic and drilling excellence Strategic / Portfolio Context - Material cash flow - 4D seismic for continuing identification of high value drilling opportunities to…
  15. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 15
    North Sea Chalk: South Arne Material asset with continuing development potential Wellhead Platform S. Arne Platform Strategic / Portfolio Context North Wellhead Platform - Growth asset with material cash flow East - Multi year…
  16. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 16
    North Sea Chalk: Valhall Long life asset with material upside Strategic / Portfolio Context - Long life, material asset - Underdeveloped chalk reservoir; significant remaining upside - Working with operator to leverage chalk…
  17. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 17
    Malaysia Gas: Joint Development Area Long term production and material cash flow JDA Strategic / Portfolio Context Thailand - Low cost, long life gas reserves with oil linked pricing - Material production, free cash flow -…
  18. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 18
    Malaysia Gas: North Malay Basin Low risk, oil linked gas development Strategic / Portfolio Context Thailand - Growing Malaysia supply/demand gap - Low risk development of 9 discoveries - Material production and cash flow 2017+ - Oil…
  19. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 19
    Competitively Positioned for Growth Significant captured growth options Bakken Evaluate Capture Drill / Develop Produce / Appraise Re-Develop - 1.6 BBOE net EUR - 3,200 future drilling locations Utica Utica - 300 MMBOE net…
  20. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 20
    Competitively Positioned for Growth Exploration provides further upside to long term growth Existing Provinces Focused strategy to deliver Emerging Provinces material long term value Exploration Focus Areas Exploration themes:…
  21. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 21
    Offshore Guyana: Stabroek License Liza-1 significant 2015 oil discovery Strategic / Portfolio Context - 6.6 MM acres; 1,150 GoM blocks - Multiple prospects and play types Forward Plan - Liza-1 encountered 295 feet of high- quality…
  22. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 22
    Deepwater Gulf of Mexico: Sicily Appraisal Appraisal of significant 2015 Paleogene oil discovery Industry Oil Discovery 2016 Hess Well Exploration Block Green Canyon Strategic / Portfolio Context Production Block Garden Inboard…
  23. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 23
    Deepwater Gulf of Mexico: Melmar Large well-imaged Paleogene four-way Industry Oil Discovery 2016 Hess Well Green Exploration Block Production Block Canyon Strategic / Portfolio Context Garden Banks Inboard Paleogene - Largest…
  24. Credit Suisse 21st Annual Energy Summit – Hess Corp – slide 24
    Offshore Nova Scotia Material position in emerging deepwater play Strategic / Portfolio Context - 3.5 MM acres; 600 GoM blocks Canada - Multiple leads in sub-salt play - 800 MMBOE pre drill net risked resource USA - GoM analogue…

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