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Q2 2016 Earnings Presentation – Hess Corp

Hess Corp · Jul 27, 2016 · 34 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. Q2 2016 Earnings Presentation – Hess Corp – slide 1
    Second Quarter 2016
  2. Q2 2016 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. Q2 2016 Earnings Presentation – Hess Corp – slide 3
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity In millions, except per share data 2Q 2Q 1Q 2016 2015 2016 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. Q2 2016 Earnings Presentation – Hess Corp – slide 4
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity In millions, except per share data 2Q 2Q 1Q 2016 2015 2016 Adjusted Net Income (Loss)* Exploration and Production (271)…
  5. Q2 2016 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts are after income taxes) 2Q 2016 Exploration and Production Results include: A charge of 52 million to write-off the Sicily 1 exploration well in the Gulf of Mexico,…
  6. Q2 2016 Earnings Presentation – Hess Corp – slide 6
    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…
  7. Q2 2016 Earnings Presentation – Hess Corp – slide 7
    Consolidated Adjusted Net Income (Loss) Millions 2Q 2016 vs. 2Q 2015 2Q 2016 vs. 1Q 2016 100 100 (147) (335) (509) (335) - - (100) (175) (100) (200) (200) (21) 180 (3) (300) 8 (300) (3) (400) (400) (500) (500) (600)…
  8. Q2 2016 Earnings Presentation – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Net Income (Loss) 2Q 2016 vs. 2Q 2015 Exploration and Production The decrease in earnings was primarily attributable to lower production volumes and lower realized selling prices, which were partially…
  9. Q2 2016 Earnings Presentation – Hess Corp – slide 9
    Exploration and Production Adjusted Net Income (Loss) Millions 2Q 2016 vs. 2Q 2015 2Q 2016 vs. 1Q 2016 50 50 (96) (271) (451) (271) - - (50) (50) (160) (100) (100) (150) (150) (200) (200) (204) (250) 28 (250) 7 36 13 37…
  10. Q2 2016 Earnings Presentation – Hess Corp – slide 10
    Worldwide Oil & Gas Production MBOEPD 2Q 2016 vs. 2Q 2015 2Q 2016 vs. 1Q 2016 450 450 391 (39) 400 400 5 350 (14) (24) 350 (15) (10) 350 (10) 313 (4) 1 313 300 300 250 250 200 386 200 150 150 100 100 50 50 - - 2Q 2015…
  11. Q2 2016 Earnings Presentation – Hess Corp – slide 11
    Capital and Exploratory Expenditures Millions Three Months Ended 1,200 June 30, 2016 2015 1,100 E&P Capital and Exploratory Expenditures 65 1,000 United States 141 Bakken 88 331 900 Other Onshore 22 110 800 Total Onshore…
  12. Q2 2016 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures Millions Six Months Ended 2,600 June 30, 2016 2015 2,400 105 E&P Capital and Exploratory Expenditures 2,200 United States 290 2,000 Bakken 204 765 Other Onshore 44 190 1,800 Total…
  13. Q2 2016 Earnings Presentation – Hess Corp – slide 13
    Bakken Midstream Adjusted Net Income & Throughput Millions 2Q 2016 vs. 2Q 2015 2Q 2016 vs. 1Q 2016 40 40 35 (16) 32 35 7 (19) 30 30 12 (3) 25 25 20 20 (2) 15 14 0 (2) 15 11 (2) 2 11 (1) 10 10 5 5 - - 2Q 2015…
  14. Q2 2016 Earnings Presentation – Hess Corp – slide 14
    OTHER INFORMATION 13
  15. Q2 2016 Earnings Presentation – Hess Corp – slide 15
    2016 Guidance to Investors Guidance**** Actual Full Year 3Q 2Q 1Q Production (MBOEPD) Total 315 - 325 310 - 315 313 350 Bakken 100 - 105 100 - 105 106 111 Unit Cost (/BOE)* Cash Costs 16.00 - 17.00 16.00 - 17.00 16.23 14.62…
  16. Q2 2016 Earnings Presentation – Hess Corp – slide 16
    Consolidating Income Statement 2Q 2016 In millions Three Months Ended June 30, 2016 Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  17. Q2 2016 Earnings Presentation – Hess Corp – slide 17
    Consolidating Income Statement 2Q 2016 YTD In millions Six Months Ended June 30, 2016 Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  18. Q2 2016 Earnings Presentation – Hess Corp – slide 18
    Consolidating Income Statement 2Q 2015 In millions Three Months Ended June 30, 2015 Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  19. Q2 2016 Earnings Presentation – Hess Corp – slide 19
    Consolidating Income Statement 2Q 2015 YTD In millions Six Months Ended June 30, 2015 Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and Non-Operating…
  20. Q2 2016 Earnings Presentation – Hess Corp – slide 20
    BAKKEN OPERATIONAL DATA 19
  21. Q2 2016 Earnings Presentation – Hess Corp – slide 21
    Bakken Production - 2016 Net Production by Product 2016 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 71 69 73 NGL MBBLPD 27 27 27 Gas MMCFPD 63 59 67 Total MBOEPD* 109 106 111 Net Production by Operatorship 2016 YTD Avg 4Q 3Q 2Q 1Q…
  22. Q2 2016 Earnings Presentation – Hess Corp – slide 22
    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…
  23. Q2 2016 Earnings Presentation – Hess Corp – slide 23
    Bakken Operational Well Statistics - 2016 Hess Operated Wells 2016 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 4 3 4 Drilling Days Spud-to-Spud 17 16 18 2016 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 39 20 19 Completion…
  24. Q2 2016 Earnings Presentation – Hess Corp – slide 24
    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…
  25. Q2 2016 Earnings Presentation – Hess Corp – slide 25
    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…
  26. Q2 2016 Earnings Presentation – Hess Corp – slide 26
    Bakken Well Costs, Working Interest and Acreage - 2016 Average Well Cost - Hess Operated 2016 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 3.0 2.9 3.1 Completion MM/Well 2.0 1.9 2.0 Total MM/Well 5.0 4.8 5.1 Average Working Interest…
  27. Q2 2016 Earnings Presentation – Hess Corp – slide 27
    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…
  28. Q2 2016 Earnings Presentation – Hess Corp – slide 28
    UTICA OPERATIONAL DATA 27
  29. Q2 2016 Earnings Presentation – Hess Corp – slide 29
    Utica Production - 2016 Net Production by Product 2016 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 1 1 1 NGL MBBLPD 8 8 8 Gas MMCFPD 122 122 121 Total MBOEPD* 29 29 29 Net Production by Operatorship 2016 YTD Avg 4Q 3Q 2Q 1Q Operated…
  30. Q2 2016 Earnings Presentation – Hess Corp – slide 30
    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…
  31. Q2 2016 Earnings Presentation – Hess Corp – slide 31
    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 6 2 4 On Production by…
  32. Q2 2016 Earnings Presentation – Hess Corp – slide 32
    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…
  33. Q2 2016 Earnings Presentation – Hess Corp – slide 33
    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 4.7 5.2 4.6 Total MM/Well 8.6 5.2 8.5 Drilling /Ft 245 245 Completion…
  34. Q2 2016 Earnings Presentation – Hess Corp – slide 34
    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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