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Q3 2020 Earnings Presentation – Hess Corp

Hess Corp · Oct 28, 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. Q3 2020 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information Third Quarter 2020
  2. Q3 2020 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. Q3 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 3Q 3Q 2Q 2020 2019 2020 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. Q3 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 3Q 3Q 2Q 2020 2019 2020 Adjusted Net Income (Loss)* Exploration and Production…
  5. Q3 2020 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 3Q 2020 Exploration and Production Results included: A charge for severance of 26 million related to cost reduction initiatives. The pre-tax…
  6. Q3 2020 Earnings Presentation – Hess Corp – slide 6
    Consolidated Adjusted Net Income (Loss) In Millions 3Q 2020 vs. 3Q 2019 3Q 2020 vs. 2Q 2020 45 45 (105) (216) (320) (216) - - (45) (45) (90) (115) (90) (135) (135) (180) 17 (13) (180) 93 5 6 (225) (225) (270) (270)…
  7. Q3 2020 Earnings Presentation – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Net Income (Loss) 3Q 2020 vs. 3Q 2019 Exploration and Production The decrease in results primarily reflects lower realized selling prices and higher exploration expenses. Midstream The increase in…
  8. Q3 2020 Earnings Presentation – Hess Corp – slide 8
    Exploration and Production Adjusted Net Income (Loss) In Millions 3Q 2020 vs. 3Q 2019 3Q 2020 vs. 2Q 2020 50 50 25 25 (41) (156) (249) (156) - - (25) (147) (25) (50) (50) 33 (35) (75) (75) (100) (100) 134 (40) (125) (125) 31…
  9. Q3 2020 Earnings Presentation – Hess Corp – slide 9
    Midstream Adjusted Net Income In Millions 3Q 2020 vs. 3Q 2019 3Q 2020 vs. 2Q 2020 110 110 100 100 52 (6) 90 (10) 90 80 (4) 80 (1) (14) 70 70 11 0 (1) 1 (3) 56 60 56 60 51 (3) 50 50 39 40 40 30 30 20 20 10 10 -…
  10. Q3 2020 Earnings Presentation – Hess Corp – slide 10
    Worldwide Oil & Gas Production In MBOEPD 3Q 2020 vs. 3Q 2019 3Q 2020 vs. 2Q 2020 400 400 19 (10) 360 (2) (22) 360 24 334 (15) 321 (3) 6 (1) 0 321 312 320 320 22 280 280 240 240 200 200 160 160 290 120 120 80 80 40…
  11. Q3 2020 Earnings Presentation – Hess Corp – slide 11
    Capital and Exploratory Expenditures In Millions 3Q 2020 vs. 3Q 2019 840 Three Months Ended 780 September 30, 720 112 2020 2019 660 E&P Capital and Exploratory Expenditures 89 United States 600 North Dakota 86 350 540…
  12. Q3 2020 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures (Contd) In Millions 3Q 2020 YTD vs. 3Q 2019 YTD 2,400 Nine Months Ended 2,200 September 30, 308 2020 2019 2,000 E&P Capital and Exploratory Expenditures 1,800 United States 264 North…
  13. Q3 2020 Earnings Presentation – Hess Corp – slide 13
    FINANCIAL INFORMATION 12
  14. Q3 2020 Earnings Presentation – Hess Corp – slide 14
    Consolidating Income Statement 3Q 2020 In Millions, Except Unit Costs Data Three Months Ended September 30, 2020 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  15. Q3 2020 Earnings Presentation – Hess Corp – slide 15
    Consolidating Income Statement 3Q 2019 In Millions, Except Unit Costs Data Three Months Ended September 30, 2019 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  16. Q3 2020 Earnings Presentation – Hess Corp – slide 16
    Consolidating Income Statement 3Q 2020 YTD In Millions, Except Unit Costs Data Nine Months Ended September 30, 2020 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  17. Q3 2020 Earnings Presentation – Hess Corp – slide 17
    Consolidating Income Statement 3Q 2019 YTD In Millions, Except Unit Costs Data Nine Months Ended September 30, 2019 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  18. Q3 2020 Earnings Presentation – Hess Corp – slide 18
    OTHER INFORMATION 17
  19. Q3 2020 Earnings Presentation – Hess Corp – slide 19
    2020 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 4Q 3Q 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 325 300 321 334 344 Bakken 190 180 - 185 198 194 190 (2) Unit Cost -…
  20. Q3 2020 Earnings Presentation – Hess Corp – slide 20
    Q3 2020: Net Hess Cash Outflow Bakken Net Production Q3 2020 Bakken Net Production (MBOEPD) 198 Bakken Net Production (MMBOE) 18.2 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1) 264…
  21. Q3 2020 Earnings Presentation – Hess Corp – slide 21
    BAKKEN OPERATIONAL DATA 20
  22. Q3 2020 Earnings Presentation – Hess Corp – slide 22
    Bakken Production - 2020 Net Production by Product 2020 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 110 108 108 114 NGL MBBLPD 54 58 57 49 Gas MMCFPD 178 194 177 162 (1) Total MBOEPD 194 198 194 190 Net Production by Operatorship 2020 YTD…
  23. Q3 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. Q3 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 3 1 2 6 Drilling Days Spud-to-Spud 12 11 11 12 2020 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 64 6 17 41…
  25. Q3 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. Q3 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. Q3 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 2.3 2.4 2.4 Completion MM/Well 3.8 3.6 3.6 4.0 Total MM/Well 6.2 5.9 6.0 6.4 Average Working…
  28. Q3 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 (1) Total MM/Well 6.8 6.5 6.7 7.0 7.3…

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