Hess Corporation BANK OF AMERICA GLOBAL ENERGY CONFERENCE November 10, 2020
Our Strategy Invest only in High Return, Low Cost Opportunities Prioritize Debt Build Focused and Reduction and Balanced Portfolio Return of Capital to Robust at Low Prices Shareholders Commitment to Sustainability…
Our Priorities in the Low Oil Price Environment 1.3 B cash total liquidity of 4.8 B at September 30, 2020 Sold 28% interest in Shenzi Field for 505 MM Preserve Cash 80% of 2020 oil production hedged at 55/bbl WTI / 60/bbl Brent 2020…
Maintaining Financial Strength Strong cash position, hedges & industry leading cash flow growth 4.8 B of liquidity Near Term Debt Maturities billions - 1.3 B cash at September 30, 2020 Robust 1.0 1.0 Liquidity - 3.5 B undrawn…
Global Energy Demand Oil & gas essential to meeting global energy demand Primary Energy Demand Outlook (IEA) BTOE Energy demand led by 2019 2040 Outlook by IEA Scenario1 population and GDP growth Stated Sustainable increases 20%…
Sustainability Focus Across Our Company Values drive value for the benefit of all stakeholders Safety Climate Change & Environment Social Responsibility Multidisciplinary team Reduced absolute Scope 1 and 2 Guided by commitments to…
Production and Costs Continued production growth with significant cost reductions Production1 MBOED 13% CAGR 400 Guyana growing to 750 MBOD gross by 2026 200 Bakken 190 MBOED - 2017 2018 2019 2020 in 2020 Offshore Cash…
Guyana: Stabroek Block World class petroleum province with potential for up to 10 FPSOs Hess 30% interest; (Operator: ) Tanager Water Depth: 5,500 - 11,000 ft Drilling TD: 17,000 - 23,000 ft 6.6 million acres (equal to 1,150 GoM…
Guyana: Stabroek Block World class investment opportunity Among industrys largest offshore oil discoveries in the past decade - 9 BBOE gross discovered recoverable resource - Multi billion barrels of remaining exploration upside…
Guyana: Stabroek Block Guyana resources 9 BBOELiza First Oil December 20, 2019 Discovered Recoverable Resource Guyana Production Capacity Cumulative BBOE1 Gross Production Capacity; Cum. MBOD1 9 1,000 8 6 FPSO 5.5 5 4&5 4 3.2…
Guyana Developments Third development at Payara sanctioned in September 2020 Liza Phase 1: Destiny Liza Phase 2: Unity Payara: Prosperity Discovered in 2015 Discovered in 2015 Discovered in 2017 First oil achieved 2019 First oil…
South East Asia: JDA and North Malay Basin Stable long term free cash flow generation 2020 net production of 50 MBOED JDA Strategic/ Portfolio 2020 net capex of 105 MM Thailand Context Established operator, strong partnership with…
Gulf of Mexico Significant free cash flow generation, high returns with upside 2020 net production 55-60 MBOED Strategic/ 2020 net capex of 115 MM Conger T-Bells (Hess) Portfolio (Hess) Context Platform for future growth through…
Bakken Cash engine generating significant free cash flow post 2020 Shift from growth engine to cash engine Divide Leading Acreage Position Focus on efficiencies via Lean principles to Burke Strategic/ maximize cash flow and enhance…
Bakken Continued application of Lean & Innovation as a competitive advantage 20% Reduction in D&C Costs Superior Execution Forecast 190 MBOED in 2020 Since 2018 Driving Value Bakken Unit D&C Cost Bakken Production MM MBOED Achieved…
Bakken Significant inventory of high return locations Future Locations with IRRs at 15% or Above 2020 Bakken Development Well Plan Gross number of economic locations at various WTI prices1 Tioga 3,000 Reduced rig count 1,900 future…
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…
Summary Priorities in current low price environment are to preserve cash, core capabilities and the long term value of our assets Recognized leader for the quality of our ESG performance and disclosures Multi phases of low cost…
Loading...
