BARCLAYS CEO ENERGY- POWER CONFERENCE SEPTEMBER 8, 2011
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 new opportunities Deliver…
E&P Goals and Strategy LONG-TERM GOALS Grow reserves and production 3-5% per year Maintain R/P ratio of 10 STRATEGY Build a global portfolio for profitable growth Balance: - Geopolitical risk - Oil / gas mix - Lower risk…
Build Global Portfolio for Profitable Growth Beryl Schiehallion Valhall Samara-Nafta South Bakken Arne ACG Seminole Shenzi GEA Sinphuhorm Waha Llano Conger Pailin Okume / Ceiba JDA Natuna A Pangkah First Half 2011…
Build Global Portfolio for Profitable Growth 1H11 Production: 385 Mboe/d Gas 28% US 28% Europe 30% Oil 72% Asia / Other 23% Africa 19% 5
Build Global Portfolio for Profitable Growth Cash Margin: 2006-2010* Reserves Growth: 2006-2010** First First 34.6 8.8% Quartile Quartile Hess 29.6 HES 7.1% Second Second 28.8 6.1% Quartile Quartile Third Third 25.4…
Growing Unconventional Portfolio 2009-2011 Capital & Exploratory Expenditures by Year B 8 8,000 7 7,000 6 6,000 53% 5 5,000 4 4,000 61% 3 3,000 2 2,000 84% 47% 1 39% 1,000 16% 0 2009 2010 2011E Unconventionals…
Growing Unconventional Portfolio 2011 Estimated Capital & Exploratory Expenditures: 7.2 B 3.4 B Other 0.1 B M&R 1% Utica 0.8 B Exploration 16% Eagle Ford 0.4 B Development Unconventional 18% 47% Bakken 2.1 B Production…
Growing Unconventional Portfolio Bakken Shale 900,000 net acres Utica Shale Paris Basin 16 rig program 185,000 net acres 340,000 net acres Plan 3 rig program in 2012 Plan 6 conv. wells in 2012 China Two JSAs with Sinopec…
North Dakota Bakken Shale Hess 67% W.I., operator Canada Nesson z Anticline 900,000 net acres Avalanche Tioga Gas Plant 16 rig program Expanding advantaged Impact Tioga East infrastructure Stony Creek Goliath Nesson Red…
12
Ohio Utica Shale LAKE ERIE Strategic acreage position CLEVELAND Focused on gas/condensate and oil windows OHIO Most land fee or HBP AKRON High net revenue interest Hess 85,000 net acres Consol JV 100,000 net acres 3 rig program…
Strong Production and Development Portfolio 2011 Estimated Capital & Exploratory Expenditures: 7.2 B 2.7 B Exploration M&R 16% 1% Other 0.9 B Production 18% DW GoM 0.4 B WA-390-P 0.3 B Unconventional Developments Eq.…
Norwegian North Sea Valhall/Hod Fields Hess 64% W. I. Net production 25 MBOED in 2011 Hess working with Operator BP to maximize production rates and recovery Valhall Field redevelopment to be completed mid-2012 Goal - reach new…
Malaysia-Thailand JDA Hess 50% W.I. Net production 250 Bangkok MMSCFD Low cost, long lived natural gas asset Cambodia Vietnam PSC through 2029 Erawan PM 301 and PM 302 provide growth Gulf of Thailand Pailin Songkhla…
Equatorial Guinea Block G Hess 85% W.I., operator Net production 55 MBOED in 2011 Strong operational and reservoir performance Okume Oveng TLP E Okume Complex Additional drilling TLP F Sat A opportunities to extend Ceiba…
Australia WA-390-P Hess 100% W.I., Wheatstone operator 6 TCF Pluto 13 natural gas 5 TCF discoveries Scarborough 10 TCF ( Appraisal program ( ( ( ( ( ( Greater Gorgon Area ongoing 50 TCF Four wells flow- ( ( (…
Deepwater Gulf of Mexico Enchilada Tubular Conger Penn State Bells Hess Development Hess Production Northwestern Pony Hess Exploration Baldpate Shenzi Hack East Banks Garden Banks Green Canyon Wilson Llano Alaminos Canyon…
Global Exploration Focus on best basins, plays and prospects Increase partnering to add value and reduce risk Complements growth in unconventionals Kurdistan Asia Pacific West Africa Gulf of Mexico Focus Area 20
21
SEMAI V 22
Brunei Block CA-1 BRUNEI Kikeh MALAYSIA Gumusut Julong Centre BORNEO Hess 13.5% W.I. Total (54% W.I.) is operator Water depth: 4,400 ft Targets are Miocene and Pliocene clastic reservoirs Prospects offset large, discovered…
Kurdistan Dinarta and Shakrok Turkey Turkey Iran Shireen Syria Iran Iraq Chinara Jordan Saudi Dinarta Arabia Hess 80% W.I., operator Shakrok Major petroleum province Shakrok with low risk geology IRAQI 70% exploration…
Marketing and Refining Refinery NY Terminal Marketing MA Strategic Objectives PA MD DE NJ Port Reading Strengthen Hess brand VA VA on East Coast NC NC SC SC Maximize free cash flow GA from refining assets FL 1,475 Miles…
Loading...
