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2Q 2018 Earnings Presentation – Hess Corp

Hess Corp · Jul 25, 2018 · 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. 2Q 2018 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information Second Quarter 2018
  2. 2Q 2018 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 2Q 2018 Earnings 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 2Q 2Q 1Q 2018 2017 2018 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 2Q 2018 Earnings 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 2Q 2Q 1Q 2018 2017 2018 Adjusted Net Income (Loss)* Exploration and Production 21…
  5. 2Q 2018 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 2Q 2018 Exploration and Production Results included: A gain of 10 million associated with the sale of the Corporations interests in Ghana.…
  6. 2Q 2018 Earnings Presentation – Hess Corp – slide 6
    Consolidated Adjusted Net Income (Loss) In Millions 2Q 2018 vs. 2Q 2017 2Q 2018 vs. 1Q 2018 75 75 (449) (56) (72) (56) - - 14 4 9 2 5 375 (75) (75) (150) (150) (225) (225) (300) (300) (375) (375) (450) (450) (525)…
  7. 2Q 2018 Earnings Presentation – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Net Income (Loss) 2Q 2018 vs. 2Q 2017 Exploration and Production The improved results primarily reflect higher realized crude oil selling prices, lower operating costs and depreciation, depletion and…
  8. 2Q 2018 Earnings Presentation – Hess Corp – slide 8
    Exploration and Production Adjusted Net Income (Loss) In Millions 2Q 2018 vs. 2Q 2017 2Q 2018 vs. 1Q 2018 175 175 125 125 47 (23) (51) 46 75 75 217 (8) (10) 21 4 21 12 25 (354) 245 (83) 25 (25) (25) (75) (75) (125)…
  9. 2Q 2018 Earnings Presentation – Hess Corp – slide 9
    Midstream Adjusted Net Income In Millions 2Q 2018 vs. 2Q 2017 2Q 2018 vs. 1Q 2018 50 50 45 10 (7) 45 4 (11) 40 40 9 0 (4) 0 35 18 35 0 (1) (2) 30 30 30 30 28 25 25 20 20 16 15 15 10 10 5 5 - - 2Q 2017 Revenue DD&A…
  10. 2Q 2018 Earnings Presentation – Hess Corp – slide 10
    Worldwide Oil & Gas Production In MBOEPD 2Q 2018 vs. 2Q 2017 2Q 2018 vs. 1Q 2018 350 350 300 (14) 300 (28) 300 (14) 21 265 9 (2) (4) 7 265 63 255 250 18 250 18 22 200 200 150 150 247 233 247 237 100 100 50 50 -…
  11. 2Q 2018 Earnings Presentation – Hess Corp – slide 11
    Capital and Exploratory Expenditures In Millions 2Q 2018 vs. 2Q 2017 Three Months Ended June 30, 2018 2017 650 E&P Capital and Exploratory Expenditures 600 United States 84 Bakken 242 148 550 20 Other Onshore 25 9 500 Total…
  12. 2Q 2018 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures (Contd) In Millions 2Q 2018 YTD vs. 2Q 2017 YTD Six Months Ended June 30, 1,100 2018 2017 E&P Capital and Exploratory Expenditures 1,000 United States 121 48 Bakken 408 238 900 Other…
  13. 2Q 2018 Earnings Presentation – Hess Corp – slide 13
    FINANCIAL INFORMATION 12
  14. 2Q 2018 Earnings Presentation – Hess Corp – slide 14
    Consolidating Income Statement 2Q 2018 In Millions, Except Unit Costs Data Three Months Ended June 30, 2018 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  15. 2Q 2018 Earnings Presentation – Hess Corp – slide 15
    Consolidating Income Statement 2Q 2017 In Millions, Except Unit Costs Data Three Months Ended June 30, 2017 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  16. 2Q 2018 Earnings Presentation – Hess Corp – slide 16
    Consolidating Income Statement 2Q 2018 YTD In Millions, Except Unit Costs Data Six Months Ended June 30, 2018 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  17. 2Q 2018 Earnings Presentation – Hess Corp – slide 17
    Consolidating Income Statement 2Q 2017 YTD In Millions, Except Unit Costs Data Six Months Ended June 30, 2017 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  18. 2Q 2018 Earnings Presentation – Hess Corp – slide 18
    OTHER INFORMATION 17
  19. 2Q 2018 Earnings Presentation – Hess Corp – slide 19
    2018 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 3Q 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 245 - 255 250 - 260 247 233 Bakken 115 - 120 115 - 120 114 111 Unit Cost…
  20. 2Q 2018 Earnings Presentation – Hess Corp – slide 20
    Bakken: Unlocking Midstream Value 2.85 B cash proceeds from Cash proceeds received to date for 2.85 B HESM IPO and HIP joint venture midstream JV formation and IPO transactions Value accretive JV and HESM IPO Implied EBITDA…
  21. 2Q 2018 Earnings Presentation – Hess Corp – slide 21
    2Q 2018: Net Hess Cash Outflow Bakken Net Production Q2 2018 Bakken Net Production (MBOEPD) 114 Bakken Net Production (MMBOE) 10.4 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1)…
  22. 2Q 2018 Earnings Presentation – Hess Corp – slide 22
    BAKKEN OPERATIONAL DATA 21
  23. 2Q 2018 Earnings Presentation – Hess Corp – slide 23
    Bakken Production - 2018 Net Production by Product 2018 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 72 72 72 NGL MBBLPD 29 31 28 Gas MMCFPD 67 68 66 (1) Total MBOEPD 112 114 111 Net Production by Operatorship 2018 YTD Avg 4Q 3Q 2Q 1Q…
  24. 2Q 2018 Earnings Presentation – Hess Corp – slide 24
    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…
  25. 2Q 2018 Earnings Presentation – Hess Corp – slide 25
    Bakken Operational Well Statistics - 2018 Hess Operated Wells 2018 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 4 4 4 Drilling Days Spud-to-Spud 15 14 15 2018 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 51 28 23 Completion…
  26. 2Q 2018 Earnings Presentation – Hess Corp – slide 26
    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…
  27. 2Q 2018 Earnings Presentation – Hess Corp – slide 27
    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 1 25 4 5 20 5 5 15 1 10 3 9 2…
  28. 2Q 2018 Earnings Presentation – Hess Corp – slide 28
    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 2.6 2.7 Completion MM/Well 3.3 3.3 3.3 (1) Total MM/Well 6.0 5.9 6.0 Average Working Interest…
  29. 2Q 2018 Earnings Presentation – Hess Corp – slide 29
    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…

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