BERNSTEIN STRATEGIC DECISIONS CONFERENCE JUNE 3, 2010
Strategy CORPORATE Grow the company long term through Exploration and Production Operate Marketing and Refining for near term returns and cash flow EXPLORATION AND PRODUCTION Leverage global scale to access growth opportunities…
E&P Goals and Strategy Long-Term Goals Grow Reserves and Production 3% p.a. Maintain R/P ratio of 10 Strategy Balanced approach to sustain profitable growth Deliver value from high impact exploration Build global position in…
Global Portfolio Beryl Schiehallion Valhall Samara-Nafta South Bakken Arne ACG Seminole Shenzi GEA Sinphuhorm Waha Llano Conger Pailin Okume / Ceiba JDA Natuna A Pangkah 2009 Production, Mboe/d Liquids Gas Total US…
Global Reserves Base Proved Reserves (YE 09) Reserves and Reserve Life MMBOE MMBOE 1,600 1,600 12 Proved Reserves 1,400 1,400 10.1 R/P 9.5 9.5 10 9.3 Gas Asia/Other 8.8 1,200 1,200 8 1,000 1,000 Africa 800 800 6 600 600 Oil 4…
North Dakota Bakken Shale Tioga Gas Plant Canada Nesson Newburg Anticline Avalanche (east of map) Tioga Tioga Gas Plant Impact East Nesson Beaver Lodge Red Sky Hess 85% W.I., operator Capa Passport 500,000 net acres…
Malaysia-Thailand JDA Hess 50% W.I. Low cost, long lived natural gas asset Net production 250 MMSCFD Pilok Thailand Bangkok Cambodia Yetagon Vietnam PSC through 2029 Erawan Gulf of Acquired PM301 Pailin Thailand…
Equatorial Guinea Block G Hess 85% W.I., operator Net production averaging 65 MBOED Strong operational and reservoir performance Oveng Additional drilling Okume TLP E Okume Complex TLP F Sat A Sat B Central opportunities…
Deepwater Gulf of Mexico - Shenzi Field Hess 28% W.I. 30-35 MBOED net production Pursuing water injection and additional drilling Green Canyon Area Shenzi opportunities Pony / Knotty Head K2 Area Neptune Tahiti Tonga…
Norwegian North Sea Valhall Field Hess 28% W. I. Long-lived, OECD asset Strategic asset trade with Shell will double Hess interest in field (to 56%) Trade will increase proved reserves by 100 MBOE in 2010 Flank Gas-lift project…
Hess Global Exploration Strategy Deliver value and secure long term growth from balanced global portfolio Tactics Focus on the best basins Pursue high impact exploration prospects Build global portfolio of unconventional resources…
France - Paris Basin Hess has option to earn 50% W.I. and operate Bakken shale analogue with 1 million gross acres Early capture of potentially material unconventional shale oil opportunity Exploration phase to include 6…
US Gulf Of Mexico Pony Prospect Pony No. 2 Hess 100% W.I. Pony No. 2 ST Salt Water Depth: 3,500 ft Pony No. 1 ST Drilling thus far has confirmed 200 MMBOE net resource Pony No. 3 (GC 469) No. 3 well to test eastern extent…
Australia Exploration Program WA-390-P North West Shelf, Australia 40 Miles Hess 100% W.I., operator Completed 12 of 16 committed WA-404-P exploration wells WA-404-P WA-404-P * 10 gas discoveries, 2 dry holes Exploration…
Brazil Santos Basin Exploration Program BRAZIL BM-S-22 Hess 40% WI RIO DE JANEIRO Sub-salt; cretaceous carbonate Notice of Discovery submitted for Azulo; not Paraty Iara for Guarani Carioca Iracema Jupiter Analysis of…
Ghana Tano Cape Three Points COTE DIVOIRE GHANA Hess 100% W.I. Water Depth: 6,400 ft Tweneboa-1 Odum-1 Significant frontier Jubilee Field acreage position 50 Km Currently interpreting 3D New 3D Survey seismic on western half…
Indonesia Deepwater Semai V Block Tangguh LNG LNG Plant Indonesia West Papua Hess 100% W. I. Water Depth: 6,000 ft Banda Sea Gross Resource Range 5 - 15 TCF Large 4-way Structure 60 Km Semai V Block Plan to drill late…
Marketing and Refining Refinery NY Terminal Marketing MA Strategic Objectives PA NJ Port Reading MD DE Strengthen Hess brand VA VA on East Coast NC NC SC SC Maximize free cash flow GA from marketing and FL FL 1,475…
Energy Marketing Strong brand and reputation Scale advantage More than 22,000 customers Fuel Oil Sales: 110 MB/D Natural Gas Sales: 1.5 BCF/D Electric Sales: 4,500 MW (RTC) Selective Growth 20
Hovensa Refinery 50/50 JV formed in 1998 by Hess and PDVSA Capacity Crude 500 MB/D FCC 150 MB/D Coker 58 MB/D World Class Merchant Refinery Competitive geographic position Economies of scale Long term PDVSA crude supply…
Summary Strategy being executed Delivering performance Exciting investment opportunities Sustainable growth Proven management team 22
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