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JP Morgan Inaugural Energy Equity Conference – Hess Corp

Hess Corp · Jun 29, 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. JP Morgan Inaugural Energy Equity Conference – Hess Corp – slide 1
    HESS CORPORATION J.P. MORGAN ENERGY EQUITY CONFERENCE JUNE 29, 2016
  2. JP Morgan Inaugural Energy Equity Conference – Hess Corp – slide 2
    Our Strategy in the Low Oil Price Environment March 31, 2016 cash balance of 3.6 billion and total liquidity of 8.3 billion Preserve Balance Pro forma Net Debt / Cap of 9%1 Sheet Strength 2016 capital and exploratory budget reduced…
  3. JP Morgan Inaugural Energy Equity Conference – Hess Corp – slide 3
    One of the Strongest Balance Sheets And liquidity positions among E&P Peers Peer Net Debt-to-Capital Ratio 8.3 B of Liquidity Post Equity 90% Q1 2016 87% Offering 80% - 3.6 B Cash 70% 62% 63% 60% - 4.0 B Unused Revolver 47% 47%…
  4. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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 60% Improvement…
  6. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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 2015 Pro Forma Gas 14% 74% Reserves Liquids NGLs 100% 11% 80% Crude Oil 81% 76% 63% 60%…
  8. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – Hess Corp – slide 21
    Offshore Guyana: Stabroek License Liza-1 significant oil discovery Liza Water Depth 5,700 ft Drilling TD 18,730 ft Strategic / Portfolio Context - 6.6 MM acres; 1,150 GoM blocks Prospects - Multiple prospects and play types Forward…
  22. JP Morgan Inaugural Energy Equity Conference – 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. JP Morgan Inaugural Energy Equity Conference – Hess Corp – slide 23
    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…
  24. JP Morgan Inaugural Energy Equity Conference – Hess Corp – slide 24
    Summary Key messages Preserve Balance Sheet Strength Preserve Core Operating Capabilities Preserve Long-Term Growth Options 25

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