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1Q 2019 Earnings Presentation – Hess Corp

Hess Corp · Apr 24, 2019 · 26 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 2019 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information First Quarter 2019
  2. 1Q 2019 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 1Q 2019 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 1Q 1Q 4Q 2019 2018 2018 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 1Q 2019 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 1Q 1Q 4Q 2019 2018 2018 Adjusted Net Income (Loss)* Exploration and Production 109…
  5. 1Q 2019 Earnings 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 a cost reduction program. Midstream None.…
  6. 1Q 2019 Earnings Presentation – Hess Corp – slide 6
    Consolidated Adjusted Net Income (Loss) In Millions 1Q 2019 vs. 1Q 2018 1Q 2019 vs. 4Q 2018 75 75 50 50 114 5 (10) 9 (2) 32 32 97 25 25 (72) (77) - - (25) (25) (50) (50) (75) (75) (100) (100) 1Q 2018 Exploration &…
  7. 1Q 2019 Earnings Presentation – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Net Income (Loss) 1Q 2019 vs. 1Q 2018 Exploration and Production The increase in earnings primarily reflects higher U.S. crude oil production, partially offset by lower realized crude oil prices and…
  8. 1Q 2019 Earnings Presentation – Hess Corp – slide 8
    Exploration and Production Adjusted Net Income (Loss) In Millions 1Q 2019 vs. 1Q 2018 1Q 2019 vs. 4Q 2018 225 225 3 (79) 13 200 189 200 175 175 150 150 (17) 35 (13) 125 109 125 109 100 100 57 75 75 50 50 37 25 12 (12) 25…
  9. 1Q 2019 Earnings Presentation – Hess Corp – slide 9
    Midstream Adjusted Net Income In Millions 1Q 2019 vs. 1Q 2018 1Q 2019 vs. 4Q 2018 55 55 50 19 (14) 50 45 45 9 (5) 40 8 (2) 40 37 37 35 0 (2) 35 2 (1) 0 0 32 30 28 30 25 25 20 20 15 15 10 10 5 5 - - 1Q 2018 Revenue…
  10. 1Q 2019 Earnings Presentation – Hess Corp – slide 10
    Worldwide Oil & Gas Production In MBOEPD 1Q 2019 vs. 1Q 2018 1Q 2019 vs. 4Q 2018 350 350 12 299 6 (1) (1) 6 299 300 34 (1) (1) 300 289 21 21 255 22 250 13 250 22 200 200 150 150 278 267 278 100 220 100 50 50 - -…
  11. 1Q 2019 Earnings Presentation – Hess Corp – slide 11
    Capital and Exploratory Expenditures In Millions Three Months Ended 1Q 2019 vs. 1Q 2018 March 31, 2019 2018 700 E&P Capital and Exploratory Expenditures United States North Dakota 271 166 600 127 Offshore and Other 52 93…
  12. 1Q 2019 Earnings Presentation – Hess Corp – slide 12
    FINANCIAL INFORMATION 11
  13. 1Q 2019 Earnings Presentation – Hess Corp – slide 13
    Consolidating Income Statement 1Q 2019 Three Months Ended March 31, 2019 In Millions, Except Unit Costs Data Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  14. 1Q 2019 Earnings Presentation – Hess Corp – slide 14
    Consolidating Income Statement 1Q 2018 Three Months Ended March 31, 2018 In Millions, Except Unit Costs Data Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  15. 1Q 2019 Earnings Presentation – Hess Corp – slide 15
    OTHER INFORMATION 14
  16. 1Q 2019 Earnings Presentation – Hess Corp – slide 16
    2019 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 270 - 280 270 - 280 278 Bakken 135 - 145 135 - 140 130 (2) Unit Cost - Per…
  17. 1Q 2019 Earnings Presentation – Hess Corp – slide 17
    Bakken Competitively advantaged infrastructure supports Bakken development Hess Bakken Footprint Strategic infrastructure supporting Hess Bakken development Export flexibility provides access to highest value markets 70% volume…
  18. 1Q 2019 Earnings Presentation – Hess Corp – slide 18
    1Q 2019: Net Hess Cash Outflow Bakken Net Production Q1 2019 Bakken Net Production (MBOEPD) 130 Bakken Net Production (MMBOE) 11.7 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1)…
  19. 1Q 2019 Earnings Presentation – Hess Corp – slide 19
    BAKKEN OPERATIONAL DATA 18
  20. 1Q 2019 Earnings Presentation – Hess Corp – slide 20
    Bakken Production - 2019 Net Production by Product 2019 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 85 85 NGL MBBLPD 33 33 Gas MMCFPD 74 74 (1) Total MBOEPD 130 130 Net Production by Operatorship 2019 YTD Avg 4Q 3Q 2Q 1Q Operated MBOEPD 118…
  21. 1Q 2019 Earnings Presentation – Hess Corp – slide 21
    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…
  22. 1Q 2019 Earnings Presentation – Hess Corp – slide 22
    Bakken Operational Well Statistics - 2019 Hess Operated Wells 2019 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 6 6 Drilling Days Spud-to-Spud 14 14 2019 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 38 38 Completion by Qrtr…
  23. 1Q 2019 Earnings 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 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 28…
  24. 1Q 2019 Earnings Presentation – Hess Corp – slide 24
    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 5 5 1 25 4 4 4 20 10 5 4 5 15 3 10…
  25. 1Q 2019 Earnings Presentation – Hess Corp – slide 25
    Bakken Well Costs, Working Interest and Acreage - 2019 Average Well Cost - Hess Operated 2019 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 2.5 2.5 Completion MM/Well 4.8 4.8 (1) Total MM/Well 7.3 - - - 7.3 Average Working Interest of…
  26. 1Q 2019 Earnings Presentation – Hess Corp – slide 26
    Bakken Working Interest and Acreage - 2018 Average Working Interest of New Wells Spud Each Quarter 2018 YTD Avg 4Q 3Q 2Q 1Q Hess Operated % 84% 84% 86% 79% 88% Net Acreage Position 2018 4Q 3Q 2Q 1Q Total Acreage '000 acres 543…

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