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Q1 2016 Earnings Information – Hess Corp

Hess Corp · Apr 28, 2016 · 35 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. Q1 2016 Earnings Information – Hess Corp – slide 1
    First Quarter 2016
  2. Q1 2016 Earnings Information – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. Q1 2016 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 1Q 1Q 4Q 2016 2015 2015 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. Q1 2016 Earnings Information – Hess Corp – slide 4
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity In millions, except per share data 1Q 1Q 4Q 2016 2015 2015 Adjusted Net Income (Loss)* Exploration and Production (451)…
  5. Q1 2016 Earnings Information – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts are after income taxes) 1Q 2016 Exploration and Production None. Bakken Midstream None. Corporate and Other None. 1Q 2015 Exploration and Production Results…
  6. Q1 2016 Earnings Information – Hess Corp – slide 6
    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…
  7. Q1 2016 Earnings Information – Hess Corp – slide 7
    Consolidated Adjusted Net Income (Loss) Millions 1Q 2016 vs. 1Q 2015 1Q 2016 vs. 4Q 2015 100 100 (279) (509) (396) (509) - - (100) (100) (200) (200) (230) (300) (300) (123) (400) (400) (13) 13 (500) (500) 3 7 (600)…
  8. Q1 2016 Earnings Information – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Net Income (Loss) 1Q 2016 vs. 1Q 2015 Exploration and Production The decrease in earnings was primarily attributable to lower realized selling prices and higher exploration costs, which were partially…
  9. Q1 2016 Earnings Information – Hess Corp – slide 9
    Exploration and Production Adjusted Net Income (Loss) Millions 1Q 2016 vs. 1Q 2015 1Q 2016 vs. 4Q 2015 100 100 50 50 (221) (451) (328) (451) - - (50) (50) (100) (100) (150) (150) (200) (233) (200) (250) (250) (300) (300)…
  10. Q1 2016 Earnings Information – Hess Corp – slide 10
    Worldwide Oil & Gas Production MBOEPD 1Q 2016 vs. 1Q 2015 1Q 2016 vs. 4Q 2015 450 450 400 361 18 1 (15) 400 368 (2) (15) 350 (3) (15) 350 2 6 10 350 350 300 300 250 250 200 200 355 358 150 150 100 100 50 50 - - 1Q…
  11. Q1 2016 Earnings Information – Hess Corp – slide 11
    Capital and Exploratory Expenditures Millions Three Months Ended 1,400 March 31, 1,300 2016 2015 40 1,200 E&P Capital and Exploratory Expenditures 149 United States 1,100 Bakken 116 434 1,000 185 Other Onshore 22 80 Total…
  12. Q1 2016 Earnings Information – Hess Corp – slide 12
    Bakken Midstream Adjusted Net Income & Throughput Millions 1Q 2016 vs. 1Q 2015 1Q 2016 vs. 4Q 2015 40 40 8 (21) 27 (7) 10 (2) 30 30 (1) 20 20 14 20 0 0 1 14 11 (18) 10 10 - - 0 (10) (10) 1Q 2015 Revenue DD&A…
  13. Q1 2016 Earnings Information – Hess Corp – slide 13
    OTHER INFORMATION 12
  14. Q1 2016 Earnings Information – Hess Corp – slide 14
    2016 Guidance to Investors Guidance**** Actual Full Year 2Q 1Q Production (MBOEPD) Total 330 - 350 320 - 325 350 Bakken 95 - 105 100 - 110 111 Unit Cost (/BOE)* Cash Costs 14.50 - 15.50 16.50 - 17.50 14.62 DD&A 28.50 - 29.50…
  15. Q1 2016 Earnings Information – Hess Corp – slide 15
    Consolidating Income Statement 1Q 2016 Three Months Ended March 31, 2016 In millions Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  16. Q1 2016 Earnings Information – Hess Corp – slide 16
    Consolidating Income Statement 1Q 2015 Three Months Ended March 31, 2015 In millions Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  17. Q1 2016 Earnings Information – Hess Corp – slide 17
    Consolidating Income Statement 2Q 2015 Three Months Ended June 30, 2015 In millions Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  18. Q1 2016 Earnings Information – Hess Corp – slide 18
    Consolidating Income Statement 3Q 2015 Three Months Ended September 30, 2015 In millions Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  19. Q1 2016 Earnings Information – Hess Corp – slide 19
    Consolidating Income Statement 4Q 2015 Three Months Ended December 31, 2015 In millions Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  20. Q1 2016 Earnings Information – Hess Corp – slide 20
    Consolidating Income Statement Full Year 2015 Year Ended December 31, 2015 In millions Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  21. Q1 2016 Earnings Information – Hess Corp – slide 21
    BAKKEN OPERATIONAL DATA 20
  22. Q1 2016 Earnings Information – Hess Corp – slide 22
    Bakken Production - 2016 Net Production by Product 2016 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 73 73 NGL MBBLPD 27 27 Gas MMCFPD 67 67 Total MBOEPD* 111 111 Net Production by Operatorship 2016 YTD Avg 4Q 3Q 2Q 1Q Operated MBOEPD…
  23. Q1 2016 Earnings Information – Hess Corp – slide 23
    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…
  24. Q1 2016 Earnings Information – Hess Corp – slide 24
    Bakken Operational Well Statistics - 2016 Hess Operated Wells 2016 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 4 4 Drilling Days Spud-to-Spud 18 18 2016 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 19 19 Completion by Qrtr…
  25. Q1 2016 Earnings Information – Hess Corp – slide 25
    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…
  26. Q1 2016 Earnings Information – Hess Corp – slide 26
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 80 Dunn_3F Dunn_MB McKenzie_3F McKenzie_MB Mountrail_3F Mountrail_MB Williams_3F Williams_MB 70 14 60 18 4 50 5 11 7 40 5 13 11 6…
  27. Q1 2016 Earnings Information – Hess Corp – slide 27
    Bakken Well Costs, Working Interest and Acreage - 2016 Average Well Cost - Hess Operated 2016 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 3.1 3.1 Completion MM/Well 2.0 2.0 Total MM/Well 5.1 5.1 Average Working Interest of New Wells…
  28. Q1 2016 Earnings Information – Hess Corp – slide 28
    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…
  29. Q1 2016 Earnings Information – Hess Corp – slide 29
    UTICA OPERATIONAL DATA 28
  30. Q1 2016 Earnings Information – Hess Corp – slide 30
    Utica Production - 2016 Net Production by Product 2016 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 1 1 NGL MBBLPD 8 8 Gas MMCFPD 121 121 Total MBOEPD* 29 29 Net Production by Operatorship 2016 YTD Avg 4Q 3Q 2Q 1Q Operated MBOEPD 21 21…
  31. Q1 2016 Earnings Information – Hess Corp – slide 31
    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…
  32. Q1 2016 Earnings Information – Hess Corp – slide 32
    Utica Operational Well Statistics - 2016 Hess/CNX Operated Activities 2016 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 1 1 2016 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 6 6 Completion by Qrtr 4 4 On Production by Qrtr…
  33. Q1 2016 Earnings Information – Hess Corp – slide 33
    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…
  34. Q1 2016 Earnings Information – Hess Corp – slide 34
    Utica Well Costs, Working Interest and Acreage - 2016 Average Well Cost - Hess Operated 2016 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 3.9 3.9 Completion MM/Well 4.6 4.6 Total MM/Well 8.5 8.5 Drilling /Ft 245 245 Completion M/Stage…
  35. Q1 2016 Earnings Information – Hess Corp – slide 35
    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…

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