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3Q 2022 Earnings Presentation – Hess Corp

Hess Corp · Oct 31, 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. 3Q 2022 Earnings Presentation – Hess Corp – slide 1
    Supplemental Earnings Information Third Quarter 2022
  2. 3Q 2022 Earnings Presentation – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. 3Q 2022 Earnings Presentation – Hess Corp – slide 3
    Reported Net Income, Items Affecting Comparability and Adjusted Net Income by Operating Activity In Millions, Except Per Share Data 3Q 3Q 2Q 2022 2021 2022 Net Income Attributable to Hess Corporation (U.S. GAAP) Exploration and…
  4. 3Q 2022 Earnings Presentation – Hess Corp – slide 4
    Reported Net Income, Items Affecting Comparability and Adjusted Net Income by Operating Activity (Contd) In Millions, Except Per Share Data 3Q 3Q 2Q 2022 2021 2022 Adjusted Net Income* Exploration and Production 626 149 723 Midstream…
  5. 3Q 2022 Earnings Presentation – Hess Corp – slide 5
    Items Affecting Comparability of Earnings Between Periods (Amounts, After Income Taxes) 3Q 2022 Exploration and Production Results included: Impairment charges of 28 million that resulted from updates to the Corporations estimated…
  6. 3Q 2022 Earnings Presentation – Hess Corp – slide 6
    Consolidated Adjusted Net Income In Millions 3Q 2022 vs. 3Q 2021 3Q 2022 vs. 2Q 2022 750 750 667 (97) 675 675 7 13 583 3 10 583 600 477 600 525 525 450 450 375 375 300 300 225 225 150 150 86 75 75 - - 3Q 2021…
  7. 3Q 2022 Earnings Presentation – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Net Income 3Q 2022 vs. 3Q 2021 Exploration and Production The increase in earnings primarily reflects higher realized selling prices and sales volumes. Midstream The increase in earnings reflects…
  8. 3Q 2022 Earnings Presentation – Hess Corp – slide 8
    Exploration and Production Adjusted Net Income In Millions 3Q 2022 vs. 3Q 2021 3Q 2022 vs. 2Q 2022 1,050 1,050 975 975 355 (149) 900 900 825 825 370 (55) (20) 723 (314) (22) 750 (92) 750 (70) 675 0 626 675 (6) 626 600 600 383…
  9. 3Q 2022 Earnings Presentation – Hess Corp – slide 9
    Midstream Adjusted Net Income In Millions 3Q 2022 vs. 3Q 2021 3Q 2022 vs. 2Q 2022 120 120 17 (12) 110 110 100 (5) 100 31 (3) (21) 24 (13) 90 90 80 80 (2) (2) 0 (4) 68 68 70 70 65 61 60 60 50 50 40 40 30 30 20 20 10 10 - - 3Q…
  10. 3Q 2022 Earnings Presentation – Hess Corp – slide 10
    Worldwide Oil & Gas Production In MBOEPD 3Q 2022 vs. 3Q 2021 3Q 2022 vs. 2Q 2022 400 400 31 (10) 66 7 (5) 368 (2) 368 360 17 360 27 17 322 320 16 320 284 19 280 3 280 19 240 240 200 200 351 351 160 160 303 120 262 120…
  11. 3Q 2022 Earnings Presentation – Hess Corp – slide 11
    Capital and Exploratory Expenditures In Millions 3Q 2022 vs. 3Q 2021 800 750 Three Months Ended 60 700 September 30, 650 2022 2021 600 E&P Capital and Exploratory Expenditures 550 United States 346 59 500 North Dakota 226…
  12. 3Q 2022 Earnings Presentation – Hess Corp – slide 12
    Capital and Exploratory Expenditures (Contd) In Millions 3Q 2022 YTD vs. 3Q 2021 YTD 2,200 Nine Months Ended 2,000 169 September 30, 1,800 2022 2021 E&P Capital and Exploratory Expenditures 1,600 United States 836 1,400 North…
  13. 3Q 2022 Earnings Presentation – Hess Corp – slide 13
    FINANCIAL INFORMATION 12
  14. 3Q 2022 Earnings Presentation – Hess Corp – slide 14
    Consolidating Income Statement 3Q 2022 In Millions, Except Unit Costs Data Three Months Ended September 30, 2022 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+B+C+D Revenues…
  15. 3Q 2022 Earnings Presentation – Hess Corp – slide 15
    Consolidating Income Statement 3Q 2021 In Millions, Except Unit Costs Data Three Months Ended September 30, 2021 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+B+C+D Revenues…
  16. 3Q 2022 Earnings Presentation – Hess Corp – slide 16
    Consolidating Income Statement 3Q 2022 YTD In Millions, Except Unit Costs Data Nine Months Ended September 30, 2022 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+B+C+D…
  17. 3Q 2022 Earnings Presentation – Hess Corp – slide 17
    Consolidating Income Statement 3Q 2021 YTD In Millions, Except Unit Costs Data Nine Months Ended September 30, 2021 Exploration & Corporate, Consolidated Production Midstream Interest & Other Eliminations Total A B C D A+B+C+D…
  18. 3Q 2022 Earnings Presentation – Hess Corp – slide 18
    E&P Debt to Adjusted EBITDAX In Millions, Except E&P Debt to Adjusted EBITDAX 3Q 2Q 1Q 4Q 3Q 2022 2022 2022 2021 2021 E&P Adjusted EBITDAX Net Income Attributable to Hess Corporation (GAAP) 515 667 417 265 115 + Net income…
  19. 3Q 2022 Earnings Presentation – 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. 3Q 2022 Earnings Presentation – Hess Corp – slide 20
    OTHER INFORMATION 19
  21. 3Q 2022 Earnings Presentation – Hess Corp – slide 21
    2022 Guidance to Investors (1) GUIDANCE ACTUAL Full Year 4Q 3Q 2Q 1Q Production - Thousand Barrels of Oil Equivalent Per Day (MBOEPD) Total - excluding Libya 325 370 351 303 276 Bakken 155 165 - 170 166 140 152 (2) Guyana 77 110…
  22. 3Q 2022 Earnings Presentation – Hess Corp – slide 22
    Midstream - Net Hess Cash Outflow 3Q 2022 Bakken Net Production 3Q 2022 Bakken Net Production (MBOEPD) 166 Bakken Net Production (MMBOE) 15.3 Midstream Tariffs on Hess Net Production Millions /BOE Description: Midstream Segment…
  23. 3Q 2022 Earnings Presentation – Hess Corp – slide 23
    BAKKEN OPERATIONAL DATA 22
  24. 3Q 2022 Earnings Presentation – Hess Corp – slide 24
    Bakken Production - 2022 Net Production by Product 2022 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 75 79 68 77 NGL MBBLPD 51 58 47 49 Gas MMCFPD 160 176 147 158 (1) Total MBOEPD 153 166 140 152 Net Production by Operatorship 2022 YTD Avg…
  25. 3Q 2022 Earnings Presentation – 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. 3Q 2022 Earnings Presentation – 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 4 3 3 Drilling Days Spud-to-Spud 13 13 13 13 2022 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 59 20 20 19…
  27. 3Q 2022 Earnings Presentation – 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. 3Q 2022 Earnings Presentation – 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 11 5 15 9 1 8 5 10 2 7 1 5 4 7…
  29. 3Q 2022 Earnings Presentation – 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 3.1 2.8 2.7 Completion MM/Well 3.5 3.3 3.6 3.3 Total MM/Well 6.3 6.4 6.4 6.0 Average Working…
  30. 3Q 2022 Earnings Presentation – 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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