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2Q22 Earnings – Hess Corp

Hess Corp · Jul 29, 2022 · 30 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. 2Q22 Earnings – Hess Corp – slide 1
    Supplemental Earnings Information Second Quarter 2022
  2. 2Q22 Earnings – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 2Q22 Earnings – 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 2022 2021 2022 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP)…
  4. 2Q22 Earnings – 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 2022 2021 2022 Adjusted Net Income (Loss)* Exploration and Production 723…
  5. 2Q22 Earnings – 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 abandonment obligations in the West Delta 79/86…
  6. 2Q22 Earnings – Hess Corp – slide 6
    Consolidated Adjusted Net Income (Loss) In Millions 2Q 2022 vs. 2Q 2021 2Q 2022 vs. 1Q 2022 825 825 750 750 601 (11) 3 667 263 (7) 7 667 675 675 600 600 525 525 450 450 404 375 375 300 300 225 225 150 150 74 75 75 - -…
  7. 2Q22 Earnings – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Net Income (Loss) 2Q 2022 vs. 2Q 2021 Exploration and Production The increase in earnings primarily reflects higher realized selling prices in the second quarter of 2022. Midstream The decrease in…
  8. 2Q22 Earnings – Hess Corp – slide 8
    Exploration and Production Adjusted Net Income (Loss) In Millions 2Q 2022 vs. 2Q 2021 2Q 2022 vs. 1Q 2022 900 900 673 (29) 170 (48) 825 825 (79) 10 (39) 750 16 8 723 750 (8) 723 12 675 675 178 600 600 525 525 460 450 450 375…
  9. 2Q22 Earnings – Hess Corp – slide 9
    Midstream Adjusted Net Income In Millions 2Q 2022 vs. 2Q 2021 2Q 2022 vs. 1Q 2022 100 100 17 (4) (15) 90 90 80 76 80 (3) 72 1 (2) (5) (7) 70 (1) 65 70 1 (1) 1 65 60 60 50 50 40 40 30 30 20 20 10 10 - - 2Q 2021…
  10. 2Q22 Earnings – Hess Corp – slide 10
    Worldwide Oil & Gas Production In MBOEPD 2Q 2022 vs. 2Q 2021 2Q 2022 vs. 1Q 2022 400 400 360 360 328 (42) 41 1 (6) 322 322 37 3 (2) 320 5 320 297 21 19 (13) 19 280 280 21 240 240 200 200 160 160 302 303 303 276 120…
  11. 2Q22 Earnings – Hess Corp – slide 11
    Capital and Exploratory Expenditures In Millions 2Q 2022 vs. 2Q 2021 750 700 Three Months Ended 650 72 June 30, 600 2022 2021 550 E&P Capital and Exploratory Expenditures United States 500 285 North Dakota 188 112 450 47…
  12. 2Q22 Earnings – Hess Corp – slide 12
    Capital and Exploratory Expenditures (Contd) In Millions 2Q 2022 YTD vs. 2Q 2021 YTD 1,400 1,300 Six Months Ended 109 June 30, 1,200 2022 2021 1,100 E&P Capital and Exploratory Expenditures 1,000 United States 490 900 North…
  13. 2Q22 Earnings – Hess Corp – slide 13
    FINANCIAL INFORMATION 12
  14. 2Q22 Earnings – Hess Corp – slide 14
    Consolidating Income Statement 2Q 2022 In Millions, Except Unit Costs Data Three Months Ended June 30, 2022 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+B+C+D Revenues and…
  15. 2Q22 Earnings – Hess Corp – slide 15
    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 and…
  16. 2Q22 Earnings – Hess Corp – slide 16
    Consolidating Income Statement 2Q 2022 YTD In Millions, Except Unit Costs Data Six Months Ended June 30, 2022 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+B+C+D Revenues and…
  17. 2Q22 Earnings – Hess Corp – slide 17
    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 Revenues and…
  18. 2Q22 Earnings – Hess Corp – slide 18
    E&P Debt to Adjusted EBITDAX In Millions, Except E&P Debt to Adjusted EBITDAX 2Q 1Q 4Q 3Q 2Q 2022 2022 2021 2021 2021 E&P Adjusted EBITDAX Net Income (Loss) Attributable to Hess Corporation (GAAP) 667 417 265 115 (73) + Net income…
  19. 2Q22 Earnings – Hess Corp – slide 19
    E&P Debt to Adjusted EBITDAX (Contd) Non-GAAP Financial Measures The Corporations presentation of E&P Debt to Adjusted EBITDAX is a non-GAAP measure. E&P Debt to Adjusted EBITDAX is defined as the ratio of E&P Debt to E&P Adjusted…
  20. 2Q22 Earnings – Hess Corp – slide 20
    OTHER INFORMATION 19
  21. 2Q22 Earnings – Hess Corp – slide 21
    2022 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 3Q 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 320 330 - 335 303 276 Bakken 150 - 155 155 - 160 140 152 (2) Guyana 75 90…
  22. 2Q22 Earnings – Hess Corp – slide 22
    Midstream - Net Hess Cash Outflow 2Q 2022 Bakken Net Production 2Q 2022 Bakken Net Production (MBOEPD) 140 Bakken Net Production (MMBOE) 12.7 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment…
  23. 2Q22 Earnings – Hess Corp – slide 23
    BAKKEN OPERATIONAL DATA 22
  24. 2Q22 Earnings – Hess Corp – slide 24
    Bakken Production - 2022 Net Production by Product 2022 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 73 68 77 NGL MBBLPD 48 47 49 Gas MMCFPD 152 147 158 (1) Total MBOEPD 146 140 152 Net Production by Operatorship 2022 YTD Avg 4Q 3Q 2Q 1Q…
  25. 2Q22 Earnings – Hess Corp – slide 25
    Bakken Production - 2021 Net Production by Product 2021 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 80 79 78 79 84 NGL MBBLPD 49 52 44 52 49 Gas MMCFPD 162 170 158 167 151 (1) Total MBOEPD 156 159 148 159 158 Net Production by Operatorship…
  26. 2Q22 Earnings – Hess Corp – slide 26
    Bakken Operational Well Statistics - 2022 Hess Operated Wells 2022 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 3 3 3 Drilling Days Spud-to-Spud 13 13 13 2022 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 39 20 19 Completion…
  27. 2Q22 Earnings – Hess Corp – slide 27
    Bakken Operational Well Statistics - 2021 Hess Operated Wells 2021 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 2 3 2 2 2 Drilling Days Spud-to-Spud 12 12 11 11 14 2021 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 63 17 18 17…
  28. 2Q22 Earnings – Hess Corp – slide 28
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 30 McKenzie_3F McKenzie_MB Mountrail_3F Mountrail_MB Williams_3F Williams_MB 25 20 4 5 15 9 1 8 5 10 7 1 5 4 5 4 4 2 7 2…
  29. 2Q22 Earnings – Hess Corp – slide 29
    Bakken Well Costs, Working Interest and Acreage - 2022 Average Well Cost - Hess Operated 2022 YTD Avg 4Q 3Q 2Q 1Q Drilling MM/Well 2.8 2.8 2.7 Completion MM/Well 3.5 3.6 3.3 Total MM/Well 6.3 6.4 6.0 Average Working Interest of…
  30. 2Q22 Earnings – Hess Corp – slide 30
    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 2.4 2.4 2.3 2.5 Completion MM/Well 3.4 3.4 3.3 3.3 3.4 Total MM/Well 5.8 5.8 5.7 5.6 5.9…

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