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Q4 2016 Supplement Earnings Information – Hess Corp

Hess Corp · Jan 24, 2017 · 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. Q4 2016 Supplement Earnings Information – Hess Corp – slide 1
    Supplemental Earnings Information Fourth Quarter 2016
  2. Q4 2016 Supplement Earnings Information – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. Q4 2016 Supplement 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 4Q 4Q 3Q 2016 2015 2016 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. Q4 2016 Supplement Earnings Information – Hess Corp – slide 4
    Reported Net Income (Loss), Items Affecting Comparability & Adjusted Net Income (Loss) by Operating Activity (Contd) In Millions, Except Per Share Data 4Q 4Q 3Q 2016 2015 2016 Adjusted Net Income (Loss)* Exploration and Production…
  5. Q4 2016 Supplement Earnings Information – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 4Q 2016 Exploration and Production Results include: A noncash charge of 2,920 million to establish valuation allowances against net deferred tax…
  6. Q4 2016 Supplement Earnings Information – Hess Corp – slide 6
    Items Affecting Comparability of Earnings Between Periods (Contd) (Amounts, After Income Taxes) 4Q 2015 Exploration and Production Results include: A nontaxable goodwill impairment charge of 1,098 million related to the Corporations…
  7. Q4 2016 Supplement Earnings Information – Hess Corp – slide 7
    Items Affecting Comparability of Earnings Between Periods (Contd) (Amounts, After Income Taxes) 3Q 2016 Exploration and Production A tax benefit of 51 million related to the resolution of certain international tax matters. Bakken…
  8. Q4 2016 Supplement Earnings Information – Hess Corp – slide 8
    Consolidated Adjusted Net Income (Loss) In Millions 4Q 2016 vs. 4Q 2015 4Q 2016 vs. 3Q 2016 100 100 50 50 (396) (305) (340) (305) - - (50) (50) (100) (100) (150) (150) (200) (200) (250) (250) 13 7 28 11 (4) (300) 71…
  9. Q4 2016 Supplement Earnings Information – Hess Corp – slide 9
    Analysis of Consolidated Adjusted Net Income (Loss) 4Q 2016 vs. 4Q 2015 Exploration and Production The improvement in results primarily reflects higher realized crude oil selling prices and lower total unit production costs. Bakken…
  10. Q4 2016 Supplement Earnings Information – Hess Corp – slide 10
    Exploration and Production Adjusted Net Income (Loss) In Millions 4Q 2016 vs. 4Q 2015 4Q 2016 vs. 3Q 2016 50 50 (328) (257) (285) (257) - - (50) (50) (100) (100) (150) (150) (200) (200) 37 (23) 29 (33) 33 18 (250) (250) 20…
  11. Q4 2016 Supplement Earnings Information – Hess Corp – slide 11
    Worldwide Oil & Gas Production In MBOEPD 4Q 2016 vs. 4Q 2015 4Q 2016 vs. 3Q 2016 400 400 368 (33) 10 350 (2) (20) 350 (2) 311 314 (16) 311 3 (1) 11 4 - 4 300 300 250 250 200 200 358 150 307 150 314 307 100 100 50…
  12. Q4 2016 Supplement Earnings Information – Hess Corp – slide 12
    Capital and Exploratory Expenditures In Millions 4Q 2016 vs. 4Q 2015 Three Months Ended December 31, 1,100 2016 2015 E&P Capital and Exploratory Expenditures 1,000 103 United States 900 Bakken 99 248 117 Other Onshore 5 72…
  13. Q4 2016 Supplement Earnings Information – Hess Corp – slide 13
    Capital and Exploratory Expenditures (Contd) In Millions 4Q 2016 YTD vs. 4Q 2015 YTD Year Ended December 31, 4,500 2016 2015 4,200 296 E&P Capital and Exploratory Expenditures 3,900 United States 473 Bakken 429 1,308 3,600…
  14. Q4 2016 Supplement Earnings Information – Hess Corp – slide 14
    Bakken Midstream Adjusted Net Income & Throughput In Millions 4Q 2016 vs. 4Q 2015 4Q 2016 vs. 3Q 2016 45 45 40 26 (3) 40 (5) 35 35 17 (3) (3) 30 (5) 30 (4) 24 25 24 25 9 (5) 20 20 15 15 13 11 10 10 5 5 - - 4Q 2015 Revenue…
  15. Q4 2016 Supplement Earnings Information – Hess Corp – slide 15
    OTHER INFORMATION 14
  16. Q4 2016 Supplement Earnings Information – Hess Corp – slide 16
    2017 Guidance to Investors (1) GUIDANCE Full Year 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total 300 - 310 290 - 300 Q1: 290 - 300 Q2: 270 - 280 Q3: 305 - 315 Q4: 330 - 340 Bakken 95 - 105 90 -…
  17. Q4 2016 Supplement Earnings Information – Hess Corp – slide 17
    Consolidating Income Statement 4Q 2016 Three Months Ended December 31, 2016 In Millions, Except Unit Costs Data Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D…
  18. Q4 2016 Supplement Earnings Information – Hess Corp – slide 18
    Consolidating Income Statement 4Q 2016 YTD Year Ended December 31, 2016 In Millions, Except Unit Costs Data Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D…
  19. Q4 2016 Supplement Earnings Information – Hess Corp – slide 19
    Consolidating Income Statement 4Q 2015 Three Months Ended December 31, 2015 In Millions, Except Unit Costs Data Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D…
  20. Q4 2016 Supplement Earnings Information – Hess Corp – slide 20
    Consolidating Income Statement 4Q 2015 YTD Year Ended December 31, 2015 In Millions, Except Unit Costs Data Exploration & Bakken Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D…
  21. Q4 2016 Supplement Earnings Information – Hess Corp – slide 21
    BAKKEN OPERATIONAL DATA 20
  22. Q4 2016 Supplement Earnings Information – Hess Corp – slide 22
    Bakken Production - 2016 Net Production by Product 2016 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 68 62 67 69 73 NGL MBBLPD 27 24 29 27 27 Gas MMCFPD 61 52 66 59 67 (1) Total MBOEPD 105 95 107 106 111 Net Production by Operatorship 2016…
  23. Q4 2016 Supplement 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 (1) Total MBOEPD 112 109 113 119 108 Net Production by Operatorship 2015…
  24. Q4 2016 Supplement 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 3 2 3 3 4 Drilling Days Spud-to-Spud 17 17 16 16 18 2016 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 71 11 21…
  25. Q4 2016 Supplement 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. Q4 2016 Supplement 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…
  27. Q4 2016 Supplement 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 2.9 2.7 2.8 2.9 3.1 Completion MM/Well 1.9 1.9 1.9 1.9 2.0 Total (1) MM/Well 4.8 4.6 4.7 4.8…
  28. Q4 2016 Supplement 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 (1) MM/Well 5.8 5.1 5.3 5.6…
  29. Q4 2016 Supplement Earnings Information – Hess Corp – slide 29
    UTICA OPERATIONAL DATA 28
  30. Q4 2016 Supplement Earnings Information – Hess Corp – slide 30
    Utica Production - 2016 Net Production by Product 2016 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 1 1 1 1 1 NGL MBBLPD 8 7 8 8 8 Gas MMCFPD 120 110 126 122 121 (1) Total MBOEPD 29 26 30 29 29 Net Production by Operatorship 2016 YTD Avg…
  31. Q4 2016 Supplement 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 (1) Total MBOEPD 24 30 28 22 17 Net Production by Operatorship 2015 YTD Avg 4Q…
  32. Q4 2016 Supplement 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 2016 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 6 6 Completion by Qrtr 6 2 4 On Production by Qrtr…
  33. Q4 2016 Supplement Earnings Information – Hess Corp – slide 33
    Utica Operational Well Statistics - 2015 Hess/CNX Operated Activities 2016 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 2 1 1 2 2 2016 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. Q4 2016 Supplement 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 (1) MM/Well 3.9 3.9 (2) Completion MM/Well 4.7 5.2 4.6 Total MM/Well 8.6 5.2 8.5 Drilling /Ft 245 245…
  35. Q4 2016 Supplement 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 (1) Drilling MM/Well 5.3 4.4 5.4 4.8 6.5 (2) Completion MM/Well 4.3 3.8 5.2 4.2 3.9 Total MM/Well 9.6 8.2 10.6 9.0…

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