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1Q 2018 Earnings Call Presentation – Hess Corp

Hess Corp · Apr 27, 2018 · 27 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. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 1
    Supplemental Earnings Information First Quarter 2018
  2. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 1Q 2018 Earnings Call 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 1Q 1Q 4Q 2018 2017 2017 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 1Q 2018 Earnings Call Presentation – 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 2018 2017 2017 Adjusted Net Income (Loss)* Exploration and Production 12…
  5. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 1Q 2018 Exploration and Production Results included: A severance charge of 37 million related to the previously disclosed cost reduction…
  6. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 6
    Items Affecting Comparability of Earnings Between Periods (Contd) (Amounts, After Income Taxes) 4Q 2017 Exploration and Production Results included: A gain of 486 million from the sale of the Corporations interests in Equatorial…
  7. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 7
    Consolidated Adjusted Net Income (Loss) In Millions 1Q 2018 vs. 1Q 2017 1Q 2018 vs. 4Q 2017 75 75 (324) (72) (304) (72) - - 245 10 (3) 231 8 (7) (75) (75) (150) (150) (225) (225) (300) (300) (375) (375) 1Q 2017…
  8. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Net Income (Loss) 1Q 2018 vs. 1Q 2017 Exploration and Production The improved results primarily reflect higher realized crude oil selling prices, lower operating costs and depreciation, depletion and…
  9. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 9
    Exploration and Production Adjusted Net Income (Loss) In Millions 1Q 2018 vs. 1Q 2017 1Q 2018 vs. 4Q 2017 75 75 25 (233) 33 14 12 25 (219) 72 31 12 (25) 222 (25) (75) (75) 207 119 (143) (125) (125) 54 (133) (175) (175)…
  10. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 10
    Midstream Adjusted Net Income In Millions 1Q 2018 vs. 1Q 2017 1Q 2018 vs. 4Q 2017 50 50 45 9 (8) 45 5 (13) 40 40 1 35 16 35 30 28 30 5 (5) 1 28 4 25 25 4 (1) 20 20 18 20 15 15 10 10 5 5 - - 1Q 2017 Revenue DD&A…
  11. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 11
    Worldwide Oil & Gas Production In MBOEPD 1Q 2018 vs. 1Q 2017 1Q 2018 vs. 4Q 2017 350 350 311 (32) 300 (2) (25) 300 (30) 300 (13) 70 (5) (13) 19 255 59 255 250 22 250 22 200 200 150 150 241 233 241 233 100 100 50…
  12. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures In Millions 1Q 2018 vs. 1Q 2017 Three Months Ended March 31, 450 2018 2017 E&P Capital and Exploratory Expenditures 400 37 28 United States Bakken 166 90 350 61 76 Other Onshore 10 8…
  13. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 13
    FINANCIAL INFORMATION 12
  14. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 14
    Consolidating Income Statement 1Q 2018 In Millions, Except Unit Costs Data Three Months Ended March 31, 2018 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenues…
  15. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 15
    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 Revenues…
  16. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 16
    OTHER INFORMATION 15
  17. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 17
    2018 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 245 - 255 235 - 245 233 Bakken 115 - 120 115 111 Unit Cost - Per Barrel of…
  18. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 18
    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…
  19. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 19
    1Q 2018: Net Hess Cash Outflow Bakken Net Production Q1 2018 Bakken Net Production (MBOEPD) 111 Bakken Net Production (MMBOE) 10.0 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1)…
  20. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 20
    BAKKEN OPERATIONAL DATA 19
  21. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 21
    Bakken Production - 2018 Net Production by Product 2018 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 72 72 NGL MBBLPD 28 28 Gas MMCFPD 66 66 (1) Total MBOEPD 111 111 Net Production by Operatorship 2018 YTD Avg 4Q 3Q 2Q 1Q Operated MBOEPD 100…
  22. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 22
    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…
  23. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 23
    Bakken Operational Well Statistics - 2018 Hess Operated Wells 2018 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 4 4 Drilling Days Spud-to-Spud 15 15 2018 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 23 23 Completion by…
  24. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 24
    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…
  25. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 25
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 40 McKenzie_3F McKenzie_MB Mountrail_3F Mountrail_MB Williams_3F Williams_MB 35 6 30 2 25 5 20 5 15 1 3 9 2 10 8 4 5…
  26. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 26
    Bakken Well Costs, Working Interest and Acreage - 2018 Average Well Cost - Hess Operated 2018 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 2.7 2.7 Completion MM/Well 3.3 3.3 (1) Total MM/Well 6.0 6.0 Average Working Interest of New…
  27. 1Q 2018 Earnings Call Presentation – Hess Corp – slide 27
    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 Total(1) MM/Well 5.6 6.0 5.8 4.5 4.5…

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