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Q4 2018 Earnings Presentation – Hess Corp

Hess Corp · Jan 30, 2019 · 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. Q4 2018 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information Fourth Quarter 2018
  2. Q4 2018 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. Q4 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 4Q 4Q 3Q 2018 2017 2018 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. Q4 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 4Q 4Q 3Q 2018 2017 2018 Adjusted Net Income (Loss)* Exploration and Production (5)…
  5. Q4 2018 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 4Q 2018 Exploration and Production None. Midstream None. Corporate and Other Results included: An allocation of noncash income tax benefit of 73…
  6. Q4 2018 Earnings Presentation – Hess Corp – slide 6
    Items Affecting Comparability of Earnings Between Periods (Contd) (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…
  7. Q4 2018 Earnings Presentation – Hess Corp – slide 7
    Consolidated Adjusted Net Income (Loss) In Millions 4Q 2018 vs. 4Q 2017 4Q 2018 vs. 3Q 2018 150 150 75 75 29 (114) (304) 214 12 1 (77) 6 (77) 2 - - (75) (75) (150) (150) (225) (225) (300) (300) (375) (375) 4Q 2017…
  8. Q4 2018 Earnings Presentation – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Net Income (Loss) 4Q 2018 vs. 4Q 2017 Exploration and Production The increase in results primarily reflects higher U.S. crude oil production, reduced operating costs, and lower depreciation, depletion…
  9. Q4 2018 Earnings Presentation – Hess Corp – slide 9
    Exploration and Production Adjusted Net Income (Loss) In Millions 4Q 2018 vs. 4Q 2017 4Q 2018 vs. 3Q 2018 200 200 150 150 109 (122) 100 100 78 (58) 50 50 (219) 96 15 (5) (3) (22) 13 (5) - - (50) (50) 20 (14) (100) 30…
  10. Q4 2018 Earnings Presentation – Hess Corp – slide 10
    Midstream Adjusted Net Income In Millions 4Q 2018 vs. 4Q 2017 4Q 2018 vs. 3Q 2018 50 50 45 45 21 (9) 40 40 35 35 (5) 4 32 2 (5) 6 32 30 30 4 30 (3) 0 (2) 1 25 25 20 20 20 15 15 10 10 5 5 - - 4Q 2017 Revenue Operating…
  11. Q4 2018 Earnings Presentation – Hess Corp – slide 11
    Worldwide Oil & Gas Production In MBOEPD 4Q 2018 vs. 4Q 2017 4Q 2018 vs. 3Q 2018 375 375 26 (25) 300 (13) 297 (6) 4 (6) 1 289 300 0 289 300 10 58 22 18 22 225 18 225 150 150 267 269 267 224 75 75 - - 4Q 2017…
  12. Q4 2018 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures In Millions 4Q 2018 vs. 4Q 2017 Three Months Ended December 31, 2018 2017 800 E&P Capital and Exploratory Expenditures United States 700 Bakken 314 200 67 Other Onshore 2 5 600 46 Total…
  13. Q4 2018 Earnings Presentation – Hess Corp – slide 13
    Capital and Exploratory Expenditures (Contd) In Millions 4Q 2018 YTD vs. 4Q 2017 YTD Year Ended December 31, 2,600 2018 2017 E&P Capital and Exploratory Expenditures 2,400 United States 2,200 271 Bakken 967 624 121 Other…
  14. Q4 2018 Earnings Presentation – Hess Corp – slide 14
    FINANCIAL INFORMATION 13
  15. Q4 2018 Earnings Presentation – Hess Corp – slide 15
    Consolidating Income Statement 4Q 2018 In Millions, Except Unit Costs Data Three Months Ended December 31, 2018 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  16. Q4 2018 Earnings Presentation – 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. Q4 2018 Earnings Presentation – Hess Corp – slide 17
    Consolidating Income Statement 4Q 2018 YTD In Millions, Except Unit Costs Data Year Ended December 31, 2018 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  18. Q4 2018 Earnings Presentation – 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. Q4 2018 Earnings Presentation – Hess Corp – slide 19
    OTHER INFORMATION 18
  20. Q4 2018 Earnings Presentation – Hess Corp – slide 20
    2019 Guidance to Investors (1) GUIDANCE Full Year 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 270 - 280 270 Bakken 135 - 145 130 - 135 Unit Cost - Per Barrel of Oil Equivalent…
  21. Q4 2018 Earnings Presentation – Hess Corp – slide 21
    Bakken Competitively advantaged infrastructure supports Bakken development Hess Bakken Footprint Strategic infrastructure supporting Hess Bakken development Export flexibility provides access to highest value markets Tioga Rail 70%…
  22. Q4 2018 Earnings Presentation – Hess Corp – slide 22
    4Q 2018: Net Hess Cash Outflow Bakken Net Production Q4 2018 Bakken Net Production (MBOEPD) 126 Bakken Net Production (MMBOE) 11.6 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1)…
  23. Q4 2018 Earnings Presentation – Hess Corp – slide 23
    BAKKEN OPERATIONAL DATA 22
  24. Q4 2018 Earnings Presentation – Hess Corp – slide 24
    Bakken Production - 2018 Net Production by Product 2018 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 76 83 76 72 72 NGL MBBLPD 29 31 30 31 28 Gas MMCFPD 70 74 72 68 66 (1) Total MBOEPD 117 126 118 114 111 Net Production by Operatorship 2018…
  25. Q4 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. Q4 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 5 6 5 4 4 Drilling Days Spud-to-Spud 15 14 15 14 15 2018 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 121 36 34…
  27. Q4 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. Q4 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 6 30 2 5 5 1 25 4 5 4 4 20 5 5 4 5 15…
  29. Q4 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 2.6 2.6 2.7 2.6 2.7 Completion MM/Well 3.3 3.3 3.3 3.3 3.3 Total(1) MM/Well 5.9 5.9 6.0 5.9 6.0…
  30. Q4 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 Total(1) MM/Well 5.6 6.0 5.8 4.5 4.5…

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