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Fourth Quarter 2013 – Hess Corp

Hess Corp · Mar 31, 2014 · 31 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. Fourth Quarter 2013 – Hess Corp – slide 1
    Fourth Quarter 2013
  2. Fourth Quarter 2013 – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. Fourth Quarter 2013 – Hess Corp – slide 3
    Reported Net Income, Items Affecting Comparability and Adjusted Earnings by Operating Activity In millions, except per share data 4Q 4Q 3Q 2013 2012 2013 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP) Exploration and…
  4. Fourth Quarter 2013 – Hess Corp – slide 4
    Reported Net Income, Items Affecting Comparability and Adjusted Earnings by Operating Activity In millions, except per share data 4Q 4Q 3Q 2013 2012 2013 Adjusted Earnings (Losses) (a) Exploration and Production 436 431 458…
  5. Fourth Quarter 2013 – Hess Corp – slide 5
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 4Q 2013 Exploration and Production Earnings include: Net income of 156 million associated with the divestiture of the Corporations Indonesian assets.…
  6. Fourth Quarter 2013 – Hess Corp – slide 6
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 4Q 2012 Exploration and Production Earnings include: A gain of 172 million from the sale of the Corporations interests in the Bittern Field in the United…
  7. Fourth Quarter 2013 – Hess Corp – slide 7
    Consolidated Adjusted Earnings Millions 4Q 2013 vs. 4Q 2012 4Q 2013 vs. 3Q 2013 500 500 409 5 2 (97 ) 405 (22) 400 400 (24) (40) 319 319 300 300 200 200 100 100 - - 4Q 2012 E&P Corporate Downstream 4Q 2013 3Q 2013…
  8. Fourth Quarter 2013 – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Earnings 4Q 2013 vs. 4Q 2012 Exploration and Production The increase in earnings was primarily due to lower operating and exploration costs as well as higher realized selling prices, largely offset…
  9. Fourth Quarter 2013 – Hess Corp – slide 9
    Exploration and Production Adjusted Earnings Millions 4Q 2013 vs. 4Q 2012 4Q 2013 vs. 3Q 2013 600 600 61 (318) 500 500 436 458 (34) 25 (25) 431 255 7 12 436 400 400 300 300 200 200 100 100 - - 4Q 2012 Price…
  10. Fourth Quarter 2013 – Hess Corp – slide 10
    Worldwide Oil & Gas Production MBOEPD 4Q 2013 vs. 4Q 2012 4Q 2013 vs. 3Q 2013 450 450 396 20 400 400 24 35 350 2 350 10 310 3 15 7 307 307 300 300 250 250 Asset sales reduced 200 200 production by 72 MBOEPD 150 150 100 100…
  11. Fourth Quarter 2013 – Hess Corp – slide 11
    Capital and Exploratory Expenditures 4Q 2013 and 2012 Millions Three Months Ended 2,500 December 31, 2013 2012 Exploration and Production United States 2,000 Bakken 571 720 Other Onshore 176 154 Total Onshore 747 874 Offshore…
  12. Fourth Quarter 2013 – Hess Corp – slide 12
    Capital and Exploratory Expenditures FY 2013 and 2012 Millions Years Ended December 31, 9,000 2013 2012 Exploration and Production 8,000 United States Bakken 2,231 3,164 7,000 Other Onshore 708 729 Total Onshore 2,939 3,893 6,000…
  13. Fourth Quarter 2013 – Hess Corp – slide 13
    ASSET SALES 12
  14. Fourth Quarter 2013 – Hess Corp – slide 14
    Progress on Asset Sales A f t er Tax P roc eeds A s s et Complet ion Dat e (in millions ) Beryl Jan-13 440 Azerbaijan (ACG) Mar-13 880 Russia (Samara-Nafta) Apr-13 1,900 Eagle Ford May-13 280 Energy Marketing Nov-13 1,200…
  15. Fourth Quarter 2013 – Hess Corp – slide 15
    2012 2013 PRO FORMA EXPLORATION AND PRODUCTION RESULTS 14
  16. Fourth Quarter 2013 – Hess Corp – slide 16
    2012 2013 Pro forma Financial Information Basis of Presentation: The summarized actual and pro forma adjusted earnings for the Exploration and Production (E&P) segment exclude hedging results and items affecting comparability of earnings…
  17. Fourth Quarter 2013 – Hess Corp – slide 17
    Exploration and Production Pro forma 4Q 2013 Three Months Ended December 31, 2013 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 2,279 2,109 80.80 82.53 Costs and expenses Cash costs 711 647 25.19 25.31…
  18. Fourth Quarter 2013 – Hess Corp – slide 18
    Exploration and Production Pro forma FY 2013 Year Ended December 31, 2013 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 9,932 8,789 80.87 84.46 Costs and expenses Cash costs 2,779 2,403 22.63 23.09…
  19. Fourth Quarter 2013 – Hess Corp – slide 19
    Exploration and Production Pro forma FY 2012 Year Ended December 31, 2012 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 11,688 8,805 78.65 83.12 Costs and expenses Cash costs 3,066 2,192 20.63 20.69…
  20. Fourth Quarter 2013 – Hess Corp – slide 20
    BAKKEN OPERATIONAL DATA 19
  21. Fourth Quarter 2013 – Hess Corp – slide 21
    Bakken Production - 2013 Net Production by Product 2013 FY Avg 4Q 3Q 2Q 1Q Oil MBBLPD 55 57 57 52- 53 NGL MBBLPD 6 5 7 6- 6 Gas MMCFPD* 38 33 44 39- 34 Total MBOEPD 67 68 71 64- 65 Net Production by Operatorship 2013 FY Avg…
  22. Fourth Quarter 2013 – Hess Corp – slide 22
    Bakken Production - 2012 Net Production by Product 2012 FY Avg 4Q 3Q 2Q 1Q Oil MBBLPD 47 53 52 47 37 NGL MBBLPD 5 6 5 4 2 Gas MMCFPD* 27 32 35 23 16 Total MBOEPD 56 64 62 55 42 Net Production by Operatorship 2012 FY Avg 4Q 3Q…
  23. Fourth Quarter 2013 – Hess Corp – slide 23
    Bakken Operational Well Statistics - 2013 Hess Operated Wells 2013 FY Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 14 14 14 14 15 Drilling Days Spud-to-Spud 26 26 24 27 26 2013 FY 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 195 49…
  24. Fourth Quarter 2013 – Hess Corp – slide 24
    Bakken Operational Well Statistics - 2012 Hess Operated Wells 2012 FY Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 15 16 15 16 14 Drilling Days Spud-to-Spud 30 28 29 32 31 2012 FY 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 176 53…
  25. Fourth Quarter 2013 – Hess Corp – slide 25
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 70 Williams TF Williams MB Stark TF Stark MB 60 Mountrail TF Mountrail MB McKenzie TF McKenzie MB 3 Dunn TF Dunn MB Burke TF Burke MB 50…
  26. Fourth Quarter 2013 – Hess Corp – slide 26
    Bakken Well Costs, Working Interest and Acreage - 2013 Average Well Cost - Hess Operated 2013 FY 4Q 3Q 2Q 1Q Drilling MM/Well 4.9 4.8 4.8 5.1 4.8 Completion MM/Well 3.2 2.8 3.0 3.3 3.8 Total MM/Well 8.1 7.6 7.8 8.4 8.6 Average…
  27. Fourth Quarter 2013 – Hess Corp – slide 27
    Bakken Well Costs, Working Interest and Acreage - 2012 Average Well Cost - Hess Operated 2012 FY 4Q 3Q 2Q 1Q Drilling MM/Well 5.3 5.0 5.3 5.6 5.4 Completion MM/Well 5.7 4.0 4.2 6.0 8.0 Total MM/Well 11.0 9.0 9.5 11.6 13.4…
  28. Fourth Quarter 2013 – Hess Corp – slide 28
    UTICA OPERATIONAL DATA 27
  29. Fourth Quarter 2013 – Hess Corp – slide 29
    Utica Operational Well Statistics - 2013 Rig Count 2013 FY Avg 4Q 3Q 2Q 1Q Rig Count - No. of Rigs Drilling - JV 3 2 3 3 3 Drilling - Hess 100% 1 1 1 1 1 Drilling - Total Utica 4 3 4 4 4 Well Count 2013 ITD * FY 4Q 3Q 2Q 1Q…
  30. Fourth Quarter 2013 – Hess Corp – slide 30
    Utica Net Revenue Interests and Acreage - 2013 (1) Average Net Revenue Interest 2013 FY Avg 4Q 3Q 2Q 1Q Joint Venture Acreage 98% 96% 98% 98% 98% 100% Acreage 84% 83% 84% 84% 84% Hess Average 89% 87% 90% 90% 90% Net Acreage…
  31. Fourth Quarter 2013 – Hess Corp – slide 31
    Utica Test Results - 2013 Well Test 2013 Op Well No County Result Month Capstone 2H-9 2,242 boe/d, Hess Belmont January (Wheeling A) 42% Liquids NAC 4H-20 1,250 boe/d, Hess Jefferson March (Cross Creek A) 0% Liquids Lude 1H-34…

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