Hess Midstream Investor Relations Presentation June 2020
Leading Midstream Platform Delivering Long-Term, Competitive and Resilient Growth Leading Business Model with Strategic Infrastructure serving Hess and Third Parties 100% consolidated ownership of strategic infrastructure assets…
Leading Midstream Attributes Self-Funding, High Growth, Significant Free Cash Flow Growing EBITDA, Revenues Declining Capital Expenditures Increasing Free Cash Flow Protected by MVCs 25% Adjusted EBITDA CAGR in Capital Reducing to…
Stable, Growing Cash Flows Supported by Long-Term Commercial Contracts with Hess MVCs provide ongoing Annual fee recalculation for changes in volume near-term downside protection forecast to maintain EBITDA stability (1),(2) (2)…
Established Track Record Proven Effectiveness of Long-Term Commercial Contracts Demonstrated cash flow protection during oil price downturns Hess Bakken Operated Rig Count(1) Hess Bakken Net Production(1) (MBoe/d) Adjusted…
Strategic Relationship with Strong Sponsor Leading Bakken Acreage Position Material Position in Premium Tight Oil Play Hess Corporation Summary Total liquidity of 5.9 billion at 3/31/20 Tioga Gas Plant (planned expansion) - 2.1…
Integrated Gas Processing and Gathering Offers Processing and Export Optionality to Hess and Third Parties 350 MMcf/d of Gas Processing Capacity Tioga Gas Plant capacity of 250 MMcf/d incl. ethane extraction Little Missouri 4 plant…
Integrated Crude Oil Terminaling and Gathering Offers Terminaling and Export Optionality to Hess and Third Parties 385 MBbl/d of Crude Oil Terminaling Capacity 285 MBbl/d Ramberg Terminal Facility (RTF) export capacity 100 MBbl/d…
Growing Water Services Assets Offers Integrated Water Handling Services to Hess and Third Parties Rapidly Growing Business Line Extensive Bakken water gathering footprint north of the Missouri River Increased operational…
Focused and Disciplined Capital Allocation Proactively Reducing Capital to Sustaining Levels in 2021 Focused and Efficient Capital Program(1) Expansion Capital Area (MM) 2020 2021 Reduced 2020 2021 capital program by Compression:…
Hess Midstreams Strengths Large Scale Full Service Midstream Provider in the Bakken High Quality, Integrated Portfolio With Meaningful Scale Stable, Growing Cash Flow Generation From Leading Business Model Long-Term Commercial…
2020 Guidance Demonstrates Highly Visible Growth 2020 Guidance: 675 - 700MM Adjusted EBITDA and 275MM Capex Guidance Highlights Expect 25% increase in Adjusted EBITDA compared to full year 2019 (1,2) 97% of 2H 2020 revenues protected…
Reconciliation to GAAP Metrics Non-GAAP Financial Measures We define Adjusted EBITDA as net income (loss) before net interest expense, income tax expense (benefit), depreciation and amortization and our proportional share of…
Reconciliation to GAAP Metrics The following table presents a reconciliation of gross EBITDA margin to net income, the most directly comparable GAAP financial measure. Predecessor HESM Historical(1) (in millions) FY 2018 FY 2019…
Hess Corporation Focus on Sustainability Hess Midstream maintains same safety, environmental, and SR commitment Safety Climate Change & Environment Social Responsibility Enterprise-wide focus on Committed to developing oil and gas…
Midstream Market Optionality Providing Access to Key Export Routes Tioga Rail Terminal Rail to East Coast Rail to West Coast Crude Oil Enbridge Ramberg Terminal Facility DAPL Andeavor Refinery DAPL Johnsons Corner…
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