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2Q 2021 Earnings Presentation – Hess Corp

Hess Corp · Jul 30, 2021 · 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 2021 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information Second Quarter 2021
  2. 2Q 2021 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 2Q 2021 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 2021 2020 2021 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 2Q 2021 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 2021 2020 2021 Adjusted Net Income (Loss)* Exploration and Production 122…
  5. 2Q 2021 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 2Q 2021 Exploration and Production Results included: A charge of 147 million in connection with estimated future abandonment obligations of…
  6. 2Q 2021 Earnings Presentation – Hess Corp – slide 6
    Consolidated Adjusted Net Income (Loss) In Millions 2Q 2021 vs. 2Q 2020 2Q 2021 vs. 1Q 2021 325 325 252 (186) 250 250 175 175 100 25 (2) 74 100 1 7 74 371 25 (320) 25 (50) (50) (125) (125) (200) (200) (275) (275)…
  7. 2Q 2021 Earnings Presentation – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Net Income (Loss) 2Q 2021 vs. 2Q 2020 Exploration and Production The improvement in adjusted after-tax results compared with the prior-year period primarily reflects higher realized selling prices in…
  8. 2Q 2021 Earnings Presentation – Hess Corp – slide 8
    Exploration and Production Adjusted Net Income (Loss) In Millions 2Q 2021 vs. 2Q 2020 2Q 2021 vs. 1Q 2021 350 350 308 (2) (126) 300 300 250 250 200 200 (56) 399 (42) 150 16 122 150 (10) 11 (3) 122 (118) 130 100 100 50 50 (249)…
  9. 2Q 2021 Earnings Presentation – Hess Corp – slide 9
    Midstream Adjusted Net Income In Millions 2Q 2021 vs. 2Q 2020 2Q 2021 vs. 1Q 2021 120 120 110 31 0 (2) (1) 110 (29) 100 100 90 90 26 5 (1) 0 (1) 0 (2) 80 76 80 75 76 70 70 60 60 51 50 50 40 40 30 30 20 20 10…
  10. 2Q 2021 Earnings Presentation – Hess Corp – slide 10
    Worldwide Oil & Gas Production In MBOEPD 2Q 2021 vs. 2Q 2020 2Q 2021 vs. 1Q 2021 400 400 360 334 360 333 (51) 328 (3) (5) 328 19 2 1 12 22 - 18 320 21 320 21 4 280 280 240 240 200 200 160 322 160 315 307 307 120 120…
  11. 2Q 2021 Earnings Presentation – Hess Corp – slide 11
    Capital and Exploratory Expenditures In Millions 2Q 2021 vs. 2Q 2020 600 Three Months Ended June 30, 525 79 2021 2020 E&P Capital and Exploratory Expenditures 450 47 49 United States North Dakota 112 181 375 112 Offshore…
  12. 2Q 2021 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures (Contd) In Millions 2Q 2021 YTD vs. 2Q 2020 YTD 1,350 Six Months Ended June 30, 1,200 136 2021 2020 E&P Capital and Exploratory Expenditures 1,050 121 United States North Dakota 200…
  13. 2Q 2021 Earnings Presentation – Hess Corp – slide 13
    FINANCIAL INFORMATION 12
  14. 2Q 2021 Earnings Presentation – Hess Corp – slide 14
    Consolidating Income Statement 2Q 2021 In Millions, Except Unit Costs Data Three Months Ended June 30, 2021 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D Revenues…
  15. 2Q 2021 Earnings Presentation – Hess Corp – slide 15
    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 Revenues…
  16. 2Q 2021 Earnings Presentation – Hess Corp – slide 16
    Consolidating Income Statement 2Q 2021 YTD In Millions, Except Unit Costs Data Six Months Ended June 30, 2021 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+ B+ C+ D…
  17. 2Q 2021 Earnings Presentation – Hess Corp – slide 17
    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…
  18. 2Q 2021 Earnings Presentation – Hess Corp – slide 18
    OTHER INFORMATION 17
  19. 2Q 2021 Earnings Presentation – Hess Corp – slide 19
    2021 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 3Q 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 295 265 307 315 Bakken 155 - 160 145 159 158 (2) Unit Cost - Per Barrel…
  20. 2Q 2021 Earnings Presentation – Hess Corp – slide 20
    Q2 2021: Net Hess Cash Outflow Bakken Net Production Q2 2021 Bakken Net Production (MBOEPD) 159 Bakken Net Production (MMBOE) 14.5 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment Revenue (1) 294…
  21. 2Q 2021 Earnings Presentation – Hess Corp – slide 21
    BAKKEN OPERATIONAL DATA 20
  22. 2Q 2021 Earnings Presentation – Hess Corp – slide 22
    Bakken Production - 2021 Net Production by Product 2021 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 82 79 84 NGL MBBLPD 50 52 49 Gas MMCFPD 159 167 151 (1) Total MBOEPD 158 159 158 Net Production by Operatorship 2021 YTD Avg 4Q 3Q 2Q 1Q…
  23. 2Q 2021 Earnings Presentation – Hess Corp – slide 23
    Bakken Production - 2020 Net Production by Product 2020 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 107 97 108 108 114 NGL MBBLPD 56 61 58 57 49 Gas MMCFPD 180 185 194 177 162 (1) Total MBOEPD 193 189 198 194 190 Net Production by…
  24. 2Q 2021 Earnings Presentation – Hess Corp – slide 24
    Bakken Operational Well Statistics - 2021 Hess Operated Wells 2021 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 2 2 2 Drilling Days Spud-to-Spud 12 11 14 2021 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 28 17 11 Completion…
  25. 2Q 2021 Earnings Presentation – Hess Corp – slide 25
    Bakken Operational Well Statistics - 2020 Hess Operated Wells 2020 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 3 1 1 2 6 Drilling Days Spud-to-Spud 12 12 11 11 12 2020 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 71 7 6 17…
  26. 2Q 2021 Earnings Presentation – Hess Corp – slide 26
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 50 McKenzie_3F McKenzie_MB Mountrail_3F 45 Mountrail_MB Williams_3F Williams_MB 40 8 35 12 30 4 25 5 3 14 20 2 7 15 7 6 3…
  27. 2Q 2021 Earnings Presentation – Hess Corp – slide 27
    Bakken Well Costs, Working Interest and Acreage - 2021 Average Well Cost - Hess Operated 2021 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 2.4 2.3 2.5 Completion MM/Well 3.4 3.3 3.4 Total MM/Well 5.8 5.6 5.9 Average Working Interest of…
  28. 2Q 2021 Earnings Presentation – Hess Corp – slide 28
    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 2.2 2.3 2.4 2.4 Completion MM/Well 3.8 3.5 3.6 3.6 4.0 Total MM/Well 6.2 5.7 5.9 6.0 6.4…

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