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Q3 2014 Earnings Conference – Hess Corp

Hess Corp · Aug 31, 2014 · 28 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. Q3 2014 Earnings Conference – Hess Corp – slide 1
    Third Quarter 2014
  2. Q3 2014 Earnings Conference – Hess Corp – slide 2
    OPERATING RESULTS 1
  3. Q3 2014 Earnings Conference – 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 2014 2013 2014 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP) Exploration…
  4. Q3 2014 Earnings Conference – Hess Corp – slide 4
    Reported Net Income, Items Affecting Comparability and Adjusted Net Income by Operating Activity In millions, except per share data 3Q 3Q 2Q 2014 2013 2014 Adjusted Net Income (Loss)* Exploration and Production 412 458 483…
  5. Q3 2014 Earnings Conference – Hess Corp – slide 5
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 3Q 2014 Exploration and Production Earnings include: A gain of 33 million from the sale of the Corporations interest in an exploration asset in the United…
  6. Q3 2014 Earnings Conference – Hess Corp – slide 6
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 2Q 2014 Exploration and Production Earnings include: A gain of 706 million from the sale of the Corporations assets in Thailand and a gain of 35 million…
  7. Q3 2014 Earnings Conference – Hess Corp – slide 7
    Consolidated Adjusted Net Income Millions 3Q 2014 vs. 3Q 2013 3Q 2014 vs. 2Q 2014 600 600 500 500 405 432 (71) (46) 5 13 377 12 377 400 400 4 300 300 200 200 100 100 - - 3Q 2013 E&P Corporate Downstream 3Q 2014 2Q…
  8. Q3 2014 Earnings Conference – Hess Corp – slide 8
    Analysis of Consolidated Adjusted Net Income 3Q 2014 vs. 3Q 2013 Exploration and Production The decrease in earnings was primarily due to lower realized selling prices and higher depreciation expenses, partially offset by higher…
  9. Q3 2014 Earnings Conference – Hess Corp – slide 9
    Exploration and Production Adjusted Net Income Millions 3Q 2014 vs. 3Q 2013 3Q 2014 vs. 2Q 2014 700 700 600 600 500 (91) 483 (81) 458 (54) 500 84 15 412 41 (8) 412 (23) 400 400 300 300 200 200 100 100 - - 3Q 2013…
  10. Q3 2014 Earnings Conference – Hess Corp – slide 10
    Worldwide Oil & Gas Production MBOEPD 3Q 2014 vs. 3Q 2013 3Q 2014 vs. 2Q 2014 450 450 400 400 47 (7) (4) (28) 350 318 350 319 6 (3) 318 310 (6) 2 4 9 4 300 300 41 250 250 200 Asset sales reduced 200 Asset sales reduced…
  11. Q3 2014 Earnings Conference – Hess Corp – slide 11
    Capital and Exploratory Expenditures 3Q 2014 and 2013 Millions Three Months Ended September 30, 2,000 2014 2013 Exploration and Production United States Bakken 579 579 1,500 Other Onshore 184 173 106 118 Total Onshore 763…
  12. Q3 2014 Earnings Conference – Hess Corp – slide 12
    Capital and Exploratory Expenditures YTD 2014 and 2013 Millions Nine Months Ended 5,000 September 30, 2014 2013 374 Exploration and Production 4,000 United States 926 Bakken 1,459 1,660 315 Other Onshore 545 565 834 Total…
  13. Q3 2014 Earnings Conference – Hess Corp – slide 13
    OTHER INFORMATION 12
  14. Q3 2014 Earnings Conference – Hess Corp – slide 14
    2014 Guidance to Investors Actual Guidance** 1Q 2Q 3Q 4Q Production (MBOEPD) Pro forma 294 310 314 330 - 340 Bakken 63 80 86 92 - 97 Unit Cost (/BOE)* Cash Costs 21.11 23.47 21.76 20.50 - 21.50 DD&A 25.19 26.88 28.48 29.00 -…
  15. Q3 2014 Earnings Conference – Hess Corp – slide 15
    Debt Adjusted Cash Flow (DACF) Nine Months Ended September 30, 2014 Millions /BOE Income from continuing operations 1,769 Plus: Interest expense 241 Provision for income taxes 575 Depreciation, depletion and amortization 2,349…
  16. Q3 2014 Earnings Conference – Hess Corp – slide 16
    BAKKEN OPERATIONAL DATA 15
  17. Q3 2014 Earnings Conference – Hess Corp – slide 17
    Bakken Production - 2014 Net Production by Product 2014 YTD Avg 4Q 3Q 2Q 1Q Oil MBBLPD 61 63 64 - 58 NGL MBBLPD 9 15 8- 2 Gas MMCFPD 36 46 48 - 15 Total MBOEPD* 76 86 80 - 63 Net Production by Operatorship 2014 YTD Avg 4Q 3Q…
  18. Q3 2014 Earnings Conference – Hess Corp – slide 18
    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…
  19. Q3 2014 Earnings Conference – Hess Corp – slide 19
    Bakken Operational Well Statistics - 2014 Hess Operated Wells 2014 YTD Avg 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 17 17 17 17 Drilling Days Spud-to-Spud 22 22 22 23 2014 YTD 4Q 3Q 2Q 1Q No. of Wells Drilled by Qrtr 183 71 66…
  20. Q3 2014 Earnings Conference – Hess Corp – slide 20
    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…
  21. Q3 2014 Earnings Conference – Hess Corp – slide 21
    Hess Operated Bakken Wells Brought on Production by County and Formation Bakken Wells 70 Williams_MB Williams_3F Stark_3F Mountrail_MB Mountrail_3F McKenzie_MB McKenzie_3F Dunn_MB Dunn_3F Burke_MB Burke_3F 60 9 3 50 2 2 2 1…
  22. Q3 2014 Earnings Conference – Hess Corp – slide 22
    Bakken Well Costs, Working Interest and Acreage - 2014 Average Well Cost - Hess Operated 2014 YTD 4Q 3Q 2Q 1Q Drilling MM/Well 4.4 4.1 4.5 4.7 Completion MM/Well 3.0 3.1 2.9 2.8 Total MM/Well 7.4 7.2 7.4 7.5 Average Working…
  23. Q3 2014 Earnings Conference – Hess Corp – slide 23
    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…
  24. Q3 2014 Earnings Conference – Hess Corp – slide 24
    UTICA OPERATIONAL DATA 23
  25. Q3 2014 Earnings Conference – Hess Corp – slide 25
    Utica Operational Well Statistics - 2014 Rig Count 2014 YTD Avg 4Q 3Q 2Q 1Q Horizontal JV Rig Count - No. of Rigs Drilling - Hess Op 3 3 3 3 Drilling - Consol Op 1 1 1 1 Drilling - Total Utica JV 4 - 4 4 4 Well Count 1 2014…
  26. Q3 2014 Earnings Conference – Hess Corp – slide 26
    Utica Operational Well Statistics - 2013 Rig Count 2013 FY Avg 4Q 3Q 2Q 1Q Rig Count - No. of Rigs Drilling - Hess Op 2 2 2 2 2 Drilling - Consol Op 1 - 1 1 1 Drilling - Total Utica JV 3 2 3 3 3 Drilling - Hess 100% 1 1 1 1 1…
  27. Q3 2014 Earnings Conference – Hess Corp – slide 27
    Utica JV Net Revenue Interest & Net Acreage - 2014 Joint Venture Average Net Revenue Interest 2014 YTD Avg 4Q 3Q 2Q 1Q JV Average Net Revenue Interest 95% 95% 95% 95% Joint Venture Net Acreage Position - '000 acres 2014 4Q…
  28. Q3 2014 Earnings Conference – Hess Corp – slide 28
    Oil Wet Gas Dry Gas Utica JV Well Test Results 3Q 2014 Well No County Well Test Results Cadiz B 1H-14 Harrison 3,833 boe/d, 47% Liquids Cadiz B 4H-14 Harrison 3,290 boe/d, 47% Liquids Archer A 1H-31 Harrison 2,379 boe/d, 43%…

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