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1Q 2020 Earnings Presentation – Hess Corp

Hess Corp · May 20, 2020 · 27 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 2020 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information First Quarter 2020
  2. 1Q 2020 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 1Q 2020 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 2020 2019 2019 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 1Q 2020 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 2020 2019 2019 Adjusted Net Income (Loss)* Exploration and Production…
  5. 1Q 2020 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 1Q 2020 Exploration and Production Results included: Noncash impairment charges totaling 2.0 billion, related to the Corporations South Arne…
  6. 1Q 2020 Earnings Presentation – Hess Corp – slide 6
    Items Affecting Comparability of Earnings Between Periods (Contd) (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…
  7. 1Q 2020 Earnings Presentation – Hess Corp – slide 7
    Consolidated Adjusted Net Income (Loss) In Millions 1Q 2020 vs. 1Q 2019 1Q 2020 vs. 4Q 2019 70 70 40 32 (229) 40 10 (182) (180) (182) 10 (20) (20) (50) (50) (80) (80) (110) (110) (140) (140) 12 (18) 24 (9) 4 (170)…
  8. 1Q 2020 Earnings Presentation – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Net Income (Loss) 1Q 2020 vs. 1Q 2019 Exploration and Production The decrease in results primarily reflects lower realized selling prices, partially offset by higher production volumes. Midstream The…
  9. 1Q 2020 Earnings Presentation – Hess Corp – slide 9
    Exploration and Production Adjusted Net Income (Loss) In Millions 1Q 2020 vs. 1Q 2019 1Q 2020 vs. 4Q 2019 170 30 (124) (120) 140 - 109 (236) 110 (30) 80 (60) 184 (92) 50 (90) 21 (8) (147) 20 (120) (120) 66 (10) (150) (4)…
  10. 1Q 2020 Earnings Presentation – Hess Corp – slide 10
    Midstream Adjusted Net Income In Millions 1Q 2020 vs. 1Q 2019 1Q 2020 vs. 4Q 2019 160 160 103 (38) 140 140 120 120 (10) 100 (5) 100 (2) 37 (24) 0 (7) (2) (2) 80 80 (14) 61 61 60 60 49 37 40 40 20 20 - - 1Q 2019…
  11. 1Q 2020 Earnings Presentation – Hess Corp – slide 11
    Worldwide Oil & Gas Production In MBOEPD 1Q 2020 vs. 1Q 2019 1Q 2020 vs. 4Q 2019 400 400 15 (10) 14 (6) 0 0 (16) (17) 61 20 349 349 350 350 338 5 5 22 299 300 300 21 250 250 200 200 344 344 150 316 150 278 100…
  12. 1Q 2020 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures In Millions 1Q 2020 vs. 1Q 2019 750 Three Months Ended March 31, 675 57 2020 2019 600 72 127 E&P Capital and Exploratory Expenditures United States 525 North Dakota 322 271 68 135…
  13. 1Q 2020 Earnings Presentation – Hess Corp – slide 13
    FINANCIAL INFORMATION 12
  14. 1Q 2020 Earnings Presentation – Hess Corp – slide 14
    Consolidating Income Statement 1Q 2020 In Millions, Except Unit Costs Data Three Months Ended March 31, 2020 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  15. 1Q 2020 Earnings Presentation – Hess Corp – slide 15
    Consolidating Income Statement 1Q 2019 In Millions, Except Unit Costs Data Three Months Ended March 31, 2019 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  16. 1Q 2020 Earnings Presentation – Hess Corp – slide 16
    OTHER INFORMATION 15
  17. 1Q 2020 Earnings Presentation – Hess Corp – slide 17
    2020 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 320 310 - 315 344 Bakken 175 185 190 (2) Unit Cost - Per Barrel of Oil…
  18. 1Q 2020 Earnings Presentation – Hess Corp – slide 18
    Q1 2020: Net Hess Cash Outflow Bakken Net Production Q1 2020 Bakken Net Production (MBOEPD) 190 Bakken Net Production (MMBOE) 17.3 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1) 291…
  19. 1Q 2020 Earnings Presentation – Hess Corp – slide 19
    BAKKEN OPERATIONAL DATA 18
  20. 1Q 2020 Earnings Presentation – Hess Corp – slide 20
    Bakken Production - 2020 Net Production by Product 2020 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 114 114 NGL MBBLPD 49 49 Gas MMCFPD 162 162 (1) Total MBOEPD 190 190 Net Production by Operatorship 2020 YTD Avg 4Q 3Q 2Q 1Q Operated MBOEPD…
  21. 1Q 2020 Earnings Presentation – Hess Corp – slide 21
    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 (1) Total MBOEPD 152 174 163 140 130 Net Production by Operatorship…
  22. 1Q 2020 Earnings Presentation – Hess Corp – slide 22
    Bakken Operational Well Statistics - 2020 Hess Operated Wells 2020 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 6 6 Drilling Days Spud-to-Spud 12 12 2020 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 41 41 Completion by…
  23. 1Q 2020 Earnings Presentation – Hess Corp – slide 23
    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…
  24. 1Q 2020 Earnings Presentation – Hess Corp – slide 24
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 70 McKenzie_3F McKenzie_MB Mountrail_3F 65 Mountrail_MB Williams_3F Williams_MB 60 6 55 50 5 45 12 40 4 35 3 6 12 30 12 6 25 7…
  25. 1Q 2020 Earnings Presentation – Hess Corp – slide 25
    Bakken Well Costs, Working Interest and Acreage - 2020 Average Well Cost - Hess Operated 2020 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 2.4 2.4 Completion MM/Well 4.0 4.0 Total MM/Well 6.4 6.4 Average Working Interest of New Wells…
  26. 1Q 2020 Earnings Presentation – Hess Corp – slide 26
    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 Total(1) MM/Well 6.8 6.5 6.7 7.0 7.3…
  27. 1Q 2020 Earnings Presentation – Hess Corp – slide 27
    Forward-looking Statements This presentation and accompanying release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,…

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