Hess Corporation J.P. MORGAN ENERGY, POWER & RENEWABLES CONFERENCE June 21-22, 2023
Uniquely Positioned To Deliver Long Term Value Differentiated portfolio provides high financial returns and annualized production growth of 10% through 2027 Deliver High Guyana: Industry leading returns and line of sight on up to 10…
Increasing Financial Strength Portfolio to deliver strong cash flow growth and capital returns 2.1 B cash at March 31, 2023 Near Term Debt Maturities B Currently have 130 MBOD hedged with put options in 2023 1.0 Increasing - 80…
Return of Capital Framework Commitment to increasing cash returns 1 Growing Regular Dividend Share Increased dividend by 17% on March 1, 2023 Repurchases Up to 75% of Free Cash Plan for ongoing increases to dividend Flow1…
Global Energy Demand Oil & gas essential to meeting global energy demand Primary Energy Demand Outlook (IEA) Exajoule (EJ) 2040 Outlook by IEA Scenario1 Energy demand led by 2021 Stated Announced population and GDP growth 800 Net…
Historic Carbon Credits Agreement Important part of our companys commitment to achieve net zero emissions Hess to purchase high quality Protecting the worlds forests is key to achieving the carbon credits from Government of Paris…
Commitment to Sustainability Taking action to reduce emissions Strategy and reporting Outperformed 5-year Set new 5-year aligned with TCFD1 emission reduction emission reduction recommendations targets for 2020 targets for 20253 Support…
Commitment to Sustainability Values drive value for the benefit of all stakeholders Safety Social Responsibility Commitment to safety embedded in Hess Values Guided by commitments to international voluntary and organizational culture…
Guyana: Stabroek Block World class petroleum province with potential for up to 10 FPSOs Hess 30% interest; (Operator: )) Water Depth: 5,500 - 11,000 ft Drilling TD: 17,000 - 23,000 ft 6.6 million acres (equal to 1,150 GoM blocks)…
Guyana: Stabroek Block World class investment opportunity Industrys largest new oil province in the last decade - More than 11 BBOE gross discovered recoverable resource - Multi billion barrels of remaining exploration upside -…
Guyana Developments World class queue of projects Liza Phase 1: Destiny Liza Phase 2: Unity Payara: Prosperity Yellowtail: One Guyana Uaru: Errea Wittu 35 Breakeven 25 Breakeven 32 Breakeven 29 Breakeven 35 Breakeven Discovered in…
Guyana: Industry Leading Metrics Global performance Guyana in a league of its own Operating Cash Margin vs. Scope 1+2 Emissions Intensity 2021-25 Production CAGR 68 (BOE) Top 15 Canada Oil Sands Guyana 58 Mozambique Iraq 48…
Southeast Asia: JDA and North Malay Basin Stable long term free cash flow generation 2023 net production of 65 MBOED JDA Strategic/ Portfolio 2023 net capex of 225 MM Thailand Context Established operator, strong partnership with…
Gulf of Mexico Significant free cash flow generation, high returns with upside 2023 net production 30 MBOED Strategic/ 2023 net capex of 125 MM Conger T-Bells (Hess) Portfolio (Hess) Context Plan a focused program of tie-backs and…
Bakken Cash engine generating significant free cash flow Leading Acreage Position Divide Focus on efficiencies via Lean application to Burke Strategic/ maximize cash flow and enhance returns Tioga Rail Terminal Kenmare Portfolio…
Bakken Significant inventory of high return locations Future Locations with IRRs at 15% or Above 2023 Bakken Development Well Plan Gross number of economic locations at various WTI prices1 Tioga 2,000 future locations 4 rig…
Bakken Competitively advantaged infrastructure supports Bakken development Strategic infrastructure supporting Hess development Export flexibility provides access to highest value markets 250 MBD crude oil gathering; 500 MMCFD gas…
Summary Grow the resource base and move down the cost curve Well positioned with low breakeven as Guyana developments progress Differentiated portfolio to drive industry leading cash flow growth and financial returns…
Appendix: Reconciliation of Non-GAAP Measures Reconciliation of U.S. GAAP to Non-GAAP Measures This presentation includes certain non-GAAP financial measures, including E&P Debt to Adjusted EBITDAX. This Non-GAAP financial measure…
Appendix: Reconciliation of Non-GAAP Measures E&P Debt/Adjusted EBITDAX December 31, 2022 (in millions) Hess Consolidated Net Income (Loss) Attributable to Hess Corporation (GAAP) 2,223 + Net income (loss) attributable to…
Loading...
