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3Q 2018 Earnings Presentation – Hess Corp

Hess Corp · Oct 31, 2018 · 30 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. 3Q 2018 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information Third Quarter 2018
  2. 3Q 2018 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 3Q 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 3Q 3Q 2Q 2018 2017 2018 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 3Q 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 3Q 3Q 2Q 2018 2017 2018 Adjusted Net Income (Loss)* Exploration and Production 203…
  5. 3Q 2018 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 3Q 2018 Exploration and Production Results included: A charge of 73 million in connection with vacated office space, of which 57 million is…
  6. 3Q 2018 Earnings Presentation – Hess Corp – slide 6
    Items Affecting Comparability of Earnings Between Periods (Contd) (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…
  7. 3Q 2018 Earnings Presentation – Hess Corp – slide 7
    Consolidated Adjusted Net Income (Loss) In Millions 3Q 2018 vs. 3Q 2017 3Q 2018 vs. 2Q 2018 250 250 175 441 (2) 175 182 0 8 123 (3) 123 100 100 25 (324) (56) 25 (50) (50) (125) (125) (200) (200) (275) (275) (350)…
  8. 3Q 2018 Earnings Presentation – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Net Income (Loss) 3Q 2018 vs. 3Q 2017 Exploration and Production The improved results reflect higher realized crude oil selling prices, lower operating costs and depreciation, depletion and…
  9. 3Q 2018 Earnings Presentation – Hess Corp – slide 9
    Exploration and Production Adjusted Net Income (Loss) In Millions 3Q 2018 vs. 3Q 2017 3Q 2018 vs. 2Q 2018 300 300 250 162 (5) (25) 250 146 (39) 203 11 203 (1) 200 200 150 150 100 100 65 18 291 50 50 21 (238) - - (50)…
  10. 3Q 2018 Earnings Presentation – Hess Corp – slide 10
    Midstream Adjusted Net Income In Millions 3Q 2018 vs. 3Q 2017 3Q 2018 vs. 2Q 2018 55 55 50 26 (2) 50 (7) 45 45 40 (7) 40 5 (7) 7 (1) (3) 35 35 0 (1) (2) 30 30 30 30 30 25 25 22 20 20 15 15 10 10 5 5 - - 3Q 2017…
  11. 3Q 2018 Earnings Presentation – Hess Corp – slide 11
    Worldwide Oil & Gas Production In MBOEPD 3Q 2018 vs. 3Q 2017 3Q 2018 vs. 2Q 2018 375 375 15 (23) 311 (21) 15 297 25 2 0 5 297 300 300 18 265 18 62 18 225 225 150 150 279 279 249 247 75 75 - - 3Q 2017 United…
  12. 3Q 2018 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures In Millions 3Q 2018 vs. 3Q 2017 Three Months Ended September 30, 2018 2017 700 E&P Capital and Exploratory Expenditures United States 600 Bakken 245 186 83 27 Other Onshore 6 8 Total…
  13. 3Q 2018 Earnings Presentation – Hess Corp – slide 13
    Capital and Exploratory Expenditures (Contd) In Millions 3Q 2018 YTD vs. 3Q 2017 YTD Nine Months Ended September 30, 1,800 2018 2017 E&P Capital and Exploratory Expenditures 1,600 United States 204 Bakken 653 424 75 Other…
  14. 3Q 2018 Earnings Presentation – Hess Corp – slide 14
    FINANCIAL INFORMATION 13
  15. 3Q 2018 Earnings Presentation – Hess Corp – slide 15
    Consolidating Income Statement 3Q 2018 In Millions, Except Unit Costs Data Three Months Ended September 30, 2018 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  16. 3Q 2018 Earnings Presentation – Hess Corp – slide 16
    Consolidating Income Statement 3Q 2017 In Millions, Except Unit Costs Data Three Months Ended September 30, 2017 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  17. 3Q 2018 Earnings Presentation – Hess Corp – slide 17
    Consolidating Income Statement 3Q 2018 YTD In Millions, Except Unit Costs Data Nine Months Ended September 30, 2018 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  18. 3Q 2018 Earnings Presentation – Hess Corp – slide 18
    Consolidating Income Statement 3Q 2017 YTD In Millions, Except Unit Costs Data Nine Months Ended September 30, 2017 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  19. 3Q 2018 Earnings Presentation – Hess Corp – slide 19
    OTHER INFORMATION 18
  20. 3Q 2018 Earnings Presentation – Hess Corp – slide 20
    2018 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 4Q 3Q 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 255 265 279 247 233 Bakken 115 - 120 125 118 114 111 Unit Cost - Per…
  21. 3Q 2018 Earnings Presentation – Hess Corp – slide 21
    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…
  22. 3Q 2018 Earnings Presentation – Hess Corp – slide 22
    3Q 2018: Net Hess Cash Outflow Bakken Net Production Q3 2018 Bakken Net Production (MBOEPD) 118 Bakken Net Production (MMBOE) 10.9 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1)…
  23. 3Q 2018 Earnings Presentation – Hess Corp – slide 23
    BAKKEN OPERATIONAL DATA 22
  24. 3Q 2018 Earnings Presentation – Hess Corp – slide 24
    Bakken Production - 2018 Net Production by Product 2018 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 73 76 72 72 NGL MBBLPD 29 30 31 28 Gas MMCFPD 69 72 68 66 (1) Total MBOEPD 114 118 114 111 Net Production by Operatorship 2018 YTD Avg 4Q 3Q…
  25. 3Q 2018 Earnings Presentation – 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. 3Q 2018 Earnings Presentation – Hess Corp – slide 26
    Bakken Operational Well Statistics - 2018 Hess Operated Wells 2018 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 4 5 4 4 Drilling Days Spud-to-Spud 15 15 14 15 2018 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 85 34 28 23…
  27. 3Q 2018 Earnings Presentation – 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 23…
  28. 3Q 2018 Earnings Presentation – Hess Corp – slide 28
    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 5 1 25 4 5 4 20 5 5 4 15 3 1 10…
  29. 3Q 2018 Earnings Presentation – Hess Corp – slide 29
    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 2.6 2.7 Completion MM/Well 3.3 3.3 3.3 3.3 (1) Total MM/Well 6.0 6.0 5.9 6.0 Average…
  30. 3Q 2018 Earnings Presentation – 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…

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