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First Quarter 2017 Supplemental Earnings Information – Hess Corp

Hess Corp · Apr 27, 2017 · 29 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. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 1
    Supplemental Earnings Information First Quarter 2017
  2. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. First Quarter 2017 Supplemental 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 2017 2016 2016 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. First Quarter 2017 Supplemental 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 1Q 1Q 4Q 2017 2016 2016 Adjusted Net Income (Loss)* Exploration and Production…
  5. First Quarter 2017 Supplemental 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. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 6
    Consolidated Adjusted Net Income (Loss) In Millions 1Q 2017 vs. 1Q 2016 1Q 2017 vs. 4Q 2016 75 75 (509) (324) (305) (324) - - (75) (75) (150) (150) (225) (225) 220 2 (37) 23 (5) (37) (300) (300) (375) (375) (450) (450)…
  7. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Net Income (Loss) 1Q 2017 vs. 1Q 2016 Exploration and Production The improvement in results primarily reflects higher realized crude oil selling prices and lower operating costs and exploration…
  8. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 8
    Exploration and Production Adjusted Net Income (Loss) In Millions 1Q 2017 vs. 1Q 2016 1Q 2017 vs. 4Q 2016 75 75 25 (453) (233) 25 (256) (233) (25) (25) (75) (75) (125) (125) 78 (83) 82 (74) (175) (175) 34 (14) 8 (225) 82…
  9. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 9
    Worldwide Oil & Gas Production In MBOEPD 1Q 2017 vs. 1Q 2016 1Q 2017 vs. 4Q 2016 400 400 350 (25) 350 (6) 350 (2) (6) 311 6 (7) 3 (2) 311 311 300 4 300 4 4 250 250 200 200 150 307 150 33074 307 100 100 50 50 -…
  10. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 10
    Capital and Exploratory Expenditures In Millions 1Q 2017 vs. 1Q 2016 Three Months Ended March 31, 650 2017 2016 600 E&P Capital and Exploratory Expenditures 36 United States 550 Bakken 90 116 500 Other Onshore 8 21 135 Total…
  11. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 11
    Midstream Adjusted Net Income In Millions 1Q 2017 vs. 1Q 2016 1Q 2017 vs. 4Q 2016 35 35 30 30 11 (3) 2 (1) (7) 25 25 23 (13) 20 20 1 (1) 18 7 18 16 15 15 1 10 10 5 5 - - 1Q 2016 Revenue DD&A Operating Tax/Other…
  12. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 12
    2017 & 2016 FINANCIAL INFORMATION 11
  13. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 13
    Consolidating Income Statements & Supplemental Information Basis of Presentation On pages 13-18, we have provided consolidating income statements that exclude, where applicable, items affecting comparability of earnings between…
  14. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 14
    Consolidating Income Statement 1Q 2017 In Millions, Except Unit Costs Data Three Months Ended March 31, 2017 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and…
  15. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 15
    Consolidating Income Statement 1Q 2016 In Millions, Except Unit Costs Data Three Months Ended March 31, 2016 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and…
  16. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 16
    Consolidating Income Statement 2Q 2016 In Millions, Except Unit Costs Data Three Months Ended June 30, 2016 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue and…
  17. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 17
    Consolidating Income Statement 3Q 2016 In Millions, Except Unit Costs Data Three Months Ended September 30, 2016 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue…
  18. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 18
    Consolidating Income Statement 4Q 2016 In Millions, Except Unit Costs Data Three Months Ended December 31, 2016 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue…
  19. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 19
    Consolidating Income Statement Full Year 2016 In Millions, Except Unit Costs Data Year Ended December 31, 2016 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations TOTAL A B C D A+B+C+D Revenue…
  20. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 20
    OTHER INFORMATION 19
  21. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 21
    2017 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 300 - 310 275 - 285 307 Q3: 305 - 315 (4) Q4: 330 - 340 Bakken 95 - 105…
  22. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 22
    BAKKEN OPERATIONAL DATA 21
  23. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 23
    Bakken Production - 2017 Net Production by Product 2017 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 67 67 NGL MBBLPD 23 23 Gas MMCFPD 53 53 (1) Total MBOEPD 99 99 Net Production by Operatorship 2017 YTD Avg 4Q 3Q 2Q 1Q Operated MBOEPD 91 91…
  24. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 24
    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…
  25. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 25
    Bakken Operational Well Statistics - 2017 Hess Operated Wells 2017 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 2 2 Drilling Days Spud-to-Spud 15 15 2017 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 11 11 Completion by…
  26. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 26
    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…
  27. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 27
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 35 Dunn_3F Dunn_MB McKenzie_3F McKenzie_MB Mountrail_3F Mountrail_MB Williams_3F Williams_MB 30 3 2 25 3 5 3 5 20 6 4 9 4…
  28. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 28
    Bakken Well Costs, Working Interest and Acreage - 2017 Average Well Cost - Hess Operated 2017 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 2.7 2.7 Completion MM/Well 1.8 1.8 Total(1) MM/Well 4.5 4.5 Average Working Interest of New…
  29. First Quarter 2017 Supplemental Earnings Information – Hess Corp – slide 29
    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 5.1…

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