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4Q 2019 Earnings Presentation – Hess Corp

Hess Corp · Jan 28, 2020 · 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. 4Q 2019 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information Fourth Quarter 2019
  2. 4Q 2019 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 4Q 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 4Q 4Q 3Q 2019 2018 2019 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 4Q 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 4Q 4Q 3Q 2019 2018 2019 Adjusted Net Income (Loss)* Exploration and Production…
  5. 4Q 2019 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 4Q 2019 Exploration and Production Results included: A noncash income tax benefit of 60 million resulting from the reversal of a valuation…
  6. 4Q 2019 Earnings Presentation – Hess Corp – slide 6
    Items Affecting Comparability of Earnings Between Periods (Contd) (Amounts, After Income Taxes) 3Q 2019 Exploration and Production Results included: A charge of 19 million related to a settlement on historical cost recovery balances…
  7. 4Q 2019 Earnings Presentation – Hess Corp – slide 7
    Consolidated Adjusted Net Income (Loss) In Millions 4Q 2019 vs. 4Q 2018 4Q 2019 vs. 3Q 2019 50 50 25 25 (77) (180) (105) (180) - - (25) (25) (50) (50) (119) (75) (75) (83) (100) (100) (125) (125) (150) (150) 17 (1) 10…
  8. 4Q 2019 Earnings Presentation – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Net Income (Loss) 4Q 2019 vs. 4Q 2018 Exploration and Production The decrease in results primarily reflects lower natural gas and natural gas liquids realized selling prices, partially offset by higher…
  9. 4Q 2019 Earnings Presentation – Hess Corp – slide 9
    Exploration and Production Adjusted Net Income (Loss) In Millions 4Q 2019 vs. 4Q 2018 4Q 2019 vs. 3Q 2019 100 100 75 167 (102) 75 102 (70) 50 50 25 25 (5) (97) (124) (41) (124) - - (56) (25) (12) (25) (13) (48) (50) (50)…
  10. 4Q 2019 Earnings Presentation – Hess Corp – slide 10
    Midstream Adjusted Net Income In Millions 4Q 2019 vs. 4Q 2018 4Q 2019 vs. 3Q 2019 100 100 60 (34) 90 90 40 (17) 80 80 70 13 (15) 70 (5) 60 (3) 60 (1) 0 (7) (4) 49 49 50 50 40 40 39 32 30 30 20 20 10 10 - - 4Q…
  11. 4Q 2019 Earnings Presentation – Hess Corp – slide 11
    Worldwide Oil & Gas Production In MBOEPD 4Q 2019 vs. 4Q 2018 4Q 2019 vs. 3Q 2019 350 47 (1) 0 3 338 350 21 0 0 5 338 22 312 22 300 289 300 22 22 250 250 200 200 316 150 316 150 290 267 100 100 50 50 - - 4Q 2018…
  12. 4Q 2019 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures In Millions Three Months Ended 4Q 2019 vs. 4Q 2018 December 31, 2019 2018 1,050 E&P Capital and Exploratory Expenditures United States 108 North Dakota 369 314 900 Offshore and Other 173…
  13. 4Q 2019 Earnings Presentation – Hess Corp – slide 13
    Capital and Exploratory Expenditures (Contd) In Millions Year Ended 4Q 2019 YTD vs. 4Q 2018 YTD December 31, 2019 2018 3,300 E&P Capital and Exploratory Expenditures United States 3,000 416 North Dakota 1,312 967 Offshore and…
  14. 4Q 2019 Earnings Presentation – Hess Corp – slide 14
    FINANCIAL INFORMATION 13
  15. 4Q 2019 Earnings Presentation – Hess Corp – slide 15
    Consolidating Income Statement 4Q 2019 In Millions, Except Unit Costs Data Three Months Ended December 31, 2019 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  16. 4Q 2019 Earnings Presentation – Hess Corp – slide 16
    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…
  17. 4Q 2019 Earnings Presentation – Hess Corp – slide 17
    Consolidating Income Statement 4Q 2019 YTD In Millions, Except Unit Costs Data Year Ended December 31, 2019 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  18. 4Q 2019 Earnings Presentation – Hess Corp – slide 18
    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…
  19. 4Q 2019 Earnings Presentation – Hess Corp – slide 19
    OTHER INFORMATION 18
  20. 4Q 2019 Earnings Presentation – Hess Corp – slide 20
    2020 Guidance to Investors (1) GUIDANCE Full Year 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 330 - 335 320 - 325 Bakken 180 170 (2) Unit Cost - Per Barrel of Oil Equivalent…
  21. 4Q 2019 Earnings Presentation – Hess Corp – slide 21
    Bakken Competitively advantaged infrastructure supports Bakken development Strategic infrastructure supporting Hess development Export flexibility provides access to highest value markets 70% volume currently linked to Brent based…
  22. 4Q 2019 Earnings Presentation – Hess Corp – slide 22
    Q4 2019: Net Hess Cash Outflow Bakken Net Production Q4 2019 Bakken Net Production (MBOEPD) 174 Bakken Net Production (MMBOE) 16.0 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1) 253…
  23. 4Q 2019 Earnings Presentation – Hess Corp – slide 23
    BAKKEN OPERATIONAL DATA 22
  24. 4Q 2019 Earnings Presentation – Hess Corp – slide 24
    Bakken Production - 2019 Net Production by Product 2019 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 93 106 96 86 85 NGL MBBLPD 41 46 47 37 33 Gas MMCFPD 107 132 121 99 74 Total MBOEPD(1) 152 174 163 140 130 Net Production by Operatorship…
  25. 4Q 2019 Earnings Presentation – Hess Corp – slide 25
    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 Total MBOEPD(1) 117 126 118 114 111 Net Production by Operatorship 2018…
  26. 4Q 2019 Earnings Presentation – Hess Corp – slide 26
    Bakken Operational Well Statistics - 2019 Hess Operated Wells 2019 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 6 6 6 6 6 Drilling Days Spud-to-Spud 14 13 13 14 14 2019 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 160 42 41 39…
  27. 4Q 2019 Earnings Presentation – Hess Corp – slide 27
    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…
  28. 4Q 2019 Earnings Presentation – Hess Corp – slide 28
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 60 McKenzie_3F McKenzie_MB Mountrail_3F 6 55 Mountrail_MB Williams_3F Williams_MB 50 5 45 12 40 4 35 3 6 6 30 12 6 5 5 1 25 7…
  29. 4Q 2019 Earnings Presentation – Hess Corp – slide 29
    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 2.5 2.6 2.5 Completion MM/Well 4.3 4.0 4.2 4.4 4.8 (1) Total MM/Well 6.8 6.5 6.7 7.0 7.3…
  30. 4Q 2019 Earnings Presentation – Hess Corp – slide 30
    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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