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4Q 2017 Earnings Information – Hess Corp

Hess Corp · Feb 5, 2018 · 31 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. 4Q 2017 Earnings Information – Hess Corp – slide 1
    Supplemental Earnings Information Fourth Quarter 2017
  2. 4Q 2017 Earnings Information – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 4Q 2017 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 2017 2016 2017 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 4Q 2017 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 2017 2016 2017 Adjusted Net Income (Loss)* Exploration and Production…
  5. 4Q 2017 Earnings Information – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 4Q 2017 Exploration and Production Results include: A gain of 486 million from the sale of the Corporations interests in Equatorial Guinea in…
  6. 4Q 2017 Earnings Information – Hess Corp – slide 6
    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…
  7. 4Q 2017 Earnings Information – Hess Corp – slide 7
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 3Q 2017 Exploration and Production Results include: A gain of 314 million related to the sale of enhanced oil recovery assets in the Permian…
  8. 4Q 2017 Earnings Information – Hess Corp – slide 8
    Consolidated Adjusted Net Income (Loss) In Millions 4Q 2017 vs. 4Q 2016 4Q 2017 vs. 3Q 2017 75 75 (305) (304) (324) (304) - - (75) (75) (150) (150) (225) (225) 37 (3) (33) 19 (2) 3 (300) (300) (375) (375) 4Q 2016…
  9. 4Q 2017 Earnings Information – Hess Corp – slide 9
    Analysis of Consolidated Adjusted Net Income (Loss) 4Q 2017 vs. 4Q 2016 Exploration and Production The improved results reflect higher realized crude oil selling prices and lower operating costs, and depreciation, depletion and…
  10. 4Q 2017 Earnings Information – Hess Corp – slide 10
    Exploration and Production Adjusted Net Income (Loss) In Millions 4Q 2017 vs. 4Q 2016 4Q 2017 vs. 3Q 2017 50 50 (256) (219) (238) (219) - - (50) (50) (100) 45 (99) (100) 95 (33) (150) (150) 18 (53) 45 82 (36) (200)…
  11. 4Q 2017 Earnings Information – Hess Corp – slide 11
    Midstream Adjusted Net Income In Millions 4Q 2017 vs. 4Q 2016 4Q 2017 vs. 3Q 2017 40 40 4 (16) 11 (3) 35 35 30 30 7 (1) (2) (2) 3 1 (5) 25 23 (2) 25 22 20 20 20 20 15 15 10 10 5 5 - - 4Q 2016 Revenue DD&A…
  12. 4Q 2017 Earnings Information – Hess Corp – slide 12
    Worldwide Oil & Gas Production In MBOEPD 4Q 2017 vs. 4Q 2016 4Q 2017 vs. 3Q 2017 350 350 311 (24) 311 (17) 22 300 2 (4) 8 300 300 (12) 300 3 71 59 62 59 250 250 200 200 150 150 241 249 241 240 100 100 50 50 - -…
  13. 4Q 2017 Earnings Information – Hess Corp – slide 13
    Capital and Exploratory Expenditures In Millions 4Q 2017 vs. 4Q 2016 Three Months Ended December 31, 650 2017 2016 600 E&P Capital and Exploratory Expenditures 46 United States 550 Bakken 200 99 101 Other Onshore 5 2 500…
  14. 4Q 2017 Earnings Information – Hess Corp – slide 14
    Capital and Exploratory Expenditures (Contd) In Millions 4Q 2017 YTD vs. 4Q 2016 YTD Year Ended December 31, 2,250 2017 2016 2,100 121 E&P Capital and Exploratory Expenditures 283 United States 1,950 348 Bakken 624 429 1,800…
  15. 4Q 2017 Earnings Information – Hess Corp – slide 15
    FINANCIAL INFORMATION 14
  16. 4Q 2017 Earnings Information – Hess Corp – slide 16
    Consolidating Income Statement 4Q 2017 In Millions, Except Unit Costs Data Three Months Ended December 31, 2017 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  17. 4Q 2017 Earnings Information – Hess Corp – slide 17
    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…
  18. 4Q 2017 Earnings Information – Hess Corp – slide 18
    Consolidating Income Statement 4Q 2017 YTD In Millions, Except Unit Costs Data Year Ended December 31, 2017 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  19. 4Q 2017 Earnings Information – Hess Corp – slide 19
    Consolidating Income Statement 4Q 2016 YTD 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. 4Q 2017 Earnings Information – Hess Corp – slide 20
    OTHER INFORMATION 19
  21. 4Q 2017 Earnings Information – Hess Corp – slide 21
    2018 Guidance to Investors (1) GUIDANCE Full Year 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 245 - 255 220 - 225 Bakken 115 - 120 105 Unit Cost - Per Barrel of Oil Equivalent…
  22. 4Q 2017 Earnings Information – Hess Corp – slide 22
    Bakken: Unlocking Midstream Value Material cash proceeds from Cash proceeds received to date 2.85 B for HESM IPO and HIP joint midstream JV formation and IPO venture transactions Value accretive JV and HESM IPO Implied EBITDA…
  23. 4Q 2017 Earnings Information – Hess Corp – slide 23
    4Q 2017: Net Hess Cash Outflow Bakken Net Production Q4 2017 Bakken Net Production (MBOEPD) 110 Bakken Net Production (MMBOE) 10.1 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1)…
  24. 4Q 2017 Earnings Information – Hess Corp – slide 24
    BAKKEN OPERATIONAL DATA 23
  25. 4Q 2017 Earnings Information – Hess Corp – slide 25
    Bakken Production - 2017 Net Production by Product 2017 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 67 69 63 68 67 NGL MBBLPD 28 30 29 29 23 Gas MMCFPD 62 66 63 66 53 (1) Total MBOEPD 105 110 103 108 99 Net Production by Operatorship 2017…
  26. 4Q 2017 Earnings Information – Hess Corp – slide 26
    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…
  27. 4Q 2017 Earnings Information – Hess Corp – slide 27
    Bakken Operational Well Statistics - 2017 Hess Operated Wells 2017 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 4 4 4 4 2 Drilling Days Spud-to-Spud 15 15 16 15 15 2017 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 85 27 24…
  28. 4Q 2017 Earnings Information – Hess Corp – slide 28
    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…
  29. 4Q 2017 Earnings Information – Hess Corp – slide 29
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 35 McKenzie_3F McKenzie_MB Mountrail_3F Mountrail_MB Williams_3F Williams_MB 6 30 3 2 2 25 3 5 5 3 5 20 5 6 4 9 4 15 4 1…
  30. 4Q 2017 Earnings Information – Hess Corp – slide 30
    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 2.8 2.7 2.7 2.7 Completion MM/Well 2.9 3.2 3.1 1.8 1.8 (1) Total MM/Well 5.6 6.0 5.8 4.5 4.5…
  31. 4Q 2017 Earnings Information – Hess Corp – slide 31
    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 (1) Total MM/Well 4.8 4.6 4.7 4.8 5.1…

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