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2Q 2020 Earnings Presentation – Hess Corp

Hess Corp · Jul 30, 2020 · 28 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. 2Q 2020 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information Second Quarter 2020
  2. 2Q 2020 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 2Q 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 2Q 2Q 1Q 2020 2019 2020 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 2Q 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 2Q 2Q 1Q 2020 2019 2020 Adjusted Net Income (Loss)* Exploration and Production…
  5. 2Q 2020 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 2Q 2019 Exploration and Production Results included: A gain of 22 million associated with the sale of the Corporations remaining acreage in the…
  6. 2Q 2020 Earnings Presentation – Hess Corp – slide 6
    Consolidated Adjusted Net Income (Loss) In Millions 2Q 2020 vs. 2Q 2019 2Q 2020 vs. 1Q 2020 45 45 (28) (320) (182) (320) - - (295) (45) (45) (90) (90) (135) (135) (180) (129) (180) (225) (225) (270) (270) 16 (13)…
  7. 2Q 2020 Earnings Presentation – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Net Income (Loss) 2Q 2020 vs. 2Q 2019 Exploration and Production The decrease in results primarily reflects lower realized selling prices. Midstream The increase in earnings primarily reflects higher…
  8. 2Q 2020 Earnings Presentation – Hess Corp – slide 8
    Exploration and Production Adjusted Net Income (Loss) In Millions 2Q 2020 vs. 2Q 2019 2Q 2020 vs. 1Q 2020 100 100 46 (281) 50 50 (249) (120) (249) - - (50) (50) (100) (100) (115) (150) (150) (200) (200) (15) 11 (8) (128) (2)…
  9. 2Q 2020 Earnings Presentation – Hess Corp – slide 9
    Midstream Adjusted Net Income In Millions 2Q 2020 vs. 2Q 2019 2Q 2020 vs. 1Q 2020 130 130 120 81 (36) 120 110 110 100 100 90 90 (6) 80 (4) 80 (2) (17) 70 70 61 (22) 60 51 60 10 51 50 50 2 (1) 1 0 40 35 40 30 30 20 20…
  10. 2Q 2020 Earnings Presentation – Hess Corp – slide 10
    Worldwide Oil & Gas Production In MBOEPD 2Q 2020 vs. 2Q 2019 2Q 2020 vs. 1Q 2020 400 400 22 (15) 55 (1) (20) 349 (2) 7 (14) 360 360 (1) (5) 334 5 334 320 320 293 280 20 280 240 240 200 200 344 160 160 273 120 120 80…
  11. 2Q 2020 Earnings Presentation – Hess Corp – slide 11
    Capital and Exploratory Expenditures In Millions 2Q 2020 vs. 2Q 2019 770 Three Months Ended 700 69 June 30, 2020 2019 630 107 E&P Capital and Exploratory Expenditures 560 United States North Dakota 181 322 490 105 79…
  12. 2Q 2020 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures (Contd) In Millions 2Q 2020 YTD vs. 2Q 2019 YTD 1,440 Six Months Ended 1,320 June 30, 196 2020 2019 1,200 136 E&P Capital and Exploratory Expenditures 175 1,080 United States 121 North…
  13. 2Q 2020 Earnings Presentation – Hess Corp – slide 13
    FINANCIAL INFORMATION 12
  14. 2Q 2020 Earnings Presentation – Hess Corp – slide 14
    Consolidating Income Statement 2Q 2020 In Millions, Except Unit Costs Data Three Months Ended June 30, 2020 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  15. 2Q 2020 Earnings Presentation – Hess Corp – slide 15
    Consolidating Income Statement 2Q 2019 In Millions, Except Unit Costs Data Three Months Ended June 30, 2019 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  16. 2Q 2020 Earnings Presentation – Hess Corp – slide 16
    Consolidating Income Statement 2Q 2020 YTD In Millions, Except Unit Costs Data Six Months Ended June 30, 2020 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  17. 2Q 2020 Earnings Presentation – Hess Corp – slide 17
    Consolidating Income Statement 2Q 2019 YTD In Millions, Except Unit Costs Data Six Months Ended June 30, 2019 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenue…
  18. 2Q 2020 Earnings Presentation – Hess Corp – slide 18
    OTHER INFORMATION 17
  19. 2Q 2020 Earnings Presentation – Hess Corp – slide 19
    2020 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 3Q 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 330 320 - 325 334 344 Bakken 185 185 194 190 (2) Unit Cost - Per Barrel…
  20. 2Q 2020 Earnings Presentation – Hess Corp – slide 20
    Q2 2020: Net Hess Cash Outflow Bakken Net Production Q2 2020 Bakken Net Production (MBOEPD) 194 Bakken Net Production (MMBOE) 17.7 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1) 270…
  21. 2Q 2020 Earnings Presentation – Hess Corp – slide 21
    BAKKEN OPERATIONAL DATA 20
  22. 2Q 2020 Earnings Presentation – Hess Corp – slide 22
    Bakken Production - 2020 Net Production by Product 2020 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 111 108 114 NGL MBBLPD 53 57 49 Gas MMCFPD 170 177 162 (1) Total MBOEPD 192 194 190 Net Production by Operatorship 2020 YTD Avg 4Q 3Q 2Q 1Q…
  23. 2Q 2020 Earnings Presentation – Hess Corp – slide 23
    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…
  24. 2Q 2020 Earnings Presentation – Hess Corp – slide 24
    Bakken Operational Well Statistics - 2020 Hess Operated Wells 2020 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 4 2 6 Drilling Days Spud-to-Spud 12 11 12 2020 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 58 17 41…
  25. 2Q 2020 Earnings Presentation – Hess Corp – slide 25
    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…
  26. 2Q 2020 Earnings Presentation – Hess Corp – slide 26
    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 8 35 3 6 12 30 4 12 6…
  27. 2Q 2020 Earnings Presentation – Hess Corp – slide 27
    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 2.4 Completion MM/Well 3.9 3.6 4.0 Total MM/Well 6.3 6.0 6.4 Average Working Interest of…
  28. 2Q 2020 Earnings Presentation – Hess Corp – slide 28
    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…

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