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BAML Global Energy Conference – Hess Corp

Hess Corp · Nov 17, 2016 · 25 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. BAML Global Energy Conference – Hess Corp – slide 1
    HESS CORPORATION BANK OF AMERICA MERRILL LYNCH GLOBAL ENERGY CONFERENCE NOVEMBER 16-17, 2016
  2. BAML Global Energy Conference – Hess Corp – slide 2
    Our Strategy in the Low Oil Price Environment 2.9 billion cash & total liquidity of 7.5 billion at Sept. 30, 20161 Preserve Balance Net Debt / Capitalization ratio of 13%1 Sheet Strength 2016 capital and exploratory budget reduced to…
  3. BAML Global Energy Conference – Hess Corp – slide 3
    One of the Strongest Balance Sheets And liquidity positions among E&P Peers 7.5 B of Liquidity Post Debt Peer Net Debt-to-Capital Ratio Refinancing* 120% Q3 2016 111% 110% - 2.9 B Cash* 100% 90% - 4.0 B Unused Revolver 80% - 0.6 B…
  4. BAML Global Energy Conference – Hess Corp – slide 4
    Focused Resilient Portfolio Linked by operating capabilities Valhall & 2016 Production: 315 - 325 MBOED Bakken Utica 33% Prod 9% Prod South Arne P1 Reserves: 1.1 BBOE 28% Res 2% Res 13% Prod 6P Resources: 7.4 BBOE 25% Res…
  5. BAML Global Energy 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 64% Improvement…
  6. BAML Global Energy 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. BAML Global Energy Conference – Hess Corp – slide 7
    Focused Resilient Portfolio Leveraged to liquids with industry leading cash margins US 2016F Gas 13% Hess Production Int'l Gas Liquids % of YE 2015 14% 73% Reserves Liquids NGLs 100% 14% 80% Crude Oil 81% 76% 59% 60% 75% 70%…
  8. BAML Global Energy 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. BAML Global Energy 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. BAML Global Energy 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. BAML Global Energy 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 Strategic / Portfolio Context Tier 1 Acreage - Wells highly productive, high liquids…
  12. BAML Global Energy Conference – Hess Corp – slide 12
    Deepwater Gulf of Mexico Stable production with low cash costs and strong cash flow T-Bells (Hess) Conger Area (Hess) 16F 17 MBOED 16F 10 MBOED Strategic / Portfolio Context Stampede (Hess) 2018 First Oil - Leverages proven…
  13. BAML Global Energy 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. BAML Global Energy Conference – Hess Corp – slide 14
    West Africa: Equatorial Guinea Maximizing value through 4D seismic and drilling excellence Strategic / Portfolio Context - Strong cash flow generation - 4D seismic for continuing identification of high value drilling opportunities…
  15. BAML Global Energy Conference – Hess Corp – slide 15
    North Sea Chalk: South Arne Continuing low risk development potential Wellhead S. Arne Platform North Platform Wellhead Strategic / Portfolio Context Platform East - Multi year drilling inventory - Leveraging expertise in…
  16. BAML Global Energy Conference – Hess Corp – slide 16
    North Sea Chalk: Valhall Long life asset with significant upside Strategic / Portfolio Context - Underdeveloped chalk reservoir; significant remaining upside - Working with operator to leverage chalk expertise from South Arne…
  17. BAML Global Energy Conference – Hess Corp – slide 17
    Malaysia Gas: Joint Development Area Long term production and free cash flow JDA Strategic / Portfolio Context Thailand - Low cost, long life gas reserves with oil linked pricing - Stable production, free cash flow - Leverages…
  18. BAML Global Energy Conference – Hess Corp – slide 18
    Malaysia Gas: North Malay Basin Low risk, oil linked gas development Strategic / Portfolio Context Thailand - Premium gas market - Low risk development of 9 discovered gas fields - Significant production and cash flow 2017+ North…
  19. BAML Global Energy 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 - 2,850 future drilling locations Utica Utica - 300 MMBOE net…
  20. BAML Global Energy 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. BAML Global Energy Conference – Hess Corp – slide 21
    Offshore Guyana: Stabroek License Liza confirmed as world class oil discovery Liza Water Depth: 5,500-5,700 ft Drilling TD: 18,000-18,800 ft Strategic / Portfolio Context Future - 6.6 MM acres; 1,150 GoM blocks Prospect - Multiple…
  22. BAML Global Energy Conference – Hess Corp – slide 22
    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…
  23. BAML Global Energy Conference – Hess Corp – slide 23
    Summary Key messages Preserve Balance Sheet Strength Preserve Core Operating Capabilities Preserve Long-Term Growth Options 24
  24. BAML Global Energy Conference – Hess Corp – slide 24
    Appendix Reconciliations of Non-GAAP Measures Adjusted Net Income and Cash Margin Nine Month Ended September 30, 2016 Millions of Dollars, Except Otherwise Noted Net Income (Loss) Attributable to Hess Corporation (1,240)…
  25. BAML Global Energy Conference – Hess Corp – slide 25
    Appendix Reconciliations of Non-GAAP Measures Net Debt to Capitalization Ratio September 30, 2016 Hess Hess (in millions) Consolidated Pro forma* Total debt 7,337 6,095 Less: cash and cash equivalents 3,529 2,902 Net debt 3,808…

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