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3Q 2013 – Hess Corp

Hess Corp · Nov 20, 2013 · 30 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. 3Q 2013 – Hess Corp – slide 1
    Third Quarter 2013
  2. 3Q 2013 – Hess Corp – slide 2
    Reported Net Income, Items Affecting Comparability and Adjusted Earnings by Operating Activity Millions, Except per Share Data 3Q 3Q 2Q 2013 2012 2013 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP) (a) Exploration…
  3. 3Q 2013 – Hess Corp – slide 3
    Reported Net Income, Items Affecting Comparability and Adjusted Earnings by Operating Activity 3Q 3Q 2Q Millions, Except per Share Data 2013 2012 2013 Adjusted Earnings (Losses) (b) Exploration and Production 458 546 600 Corporate…
  4. 3Q 2013 – Hess Corp – slide 4
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 3Q 2013 Exploration and Production Earnings include a charge of 3 million for employee severance costs related to the Corporations transformation into a…
  5. 3Q 2013 – Hess Corp – slide 5
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 2Q 2013 Exploration and Production Earnings include: A net gain of 951 million related to the sale of the Corporations 90 percent interest in its Russian…
  6. 3Q 2013 – Hess Corp – slide 6
    Consolidated Adjusted Earnings Millions 3Q 2013 vs. 3Q 2012 3Q 2013 vs. 2Q 2013 600 600 520 (142) 495 (88) 500 500 20 (22) 405 28 (1) 405 400 400 300 300 200 200 100 100 - - 3Q 2012 E&P Corporate Downstream 3Q 2013 2Q…
  7. 3Q 2013 – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Earnings 3Q 2013 vs. 3Q 2012 Exploration and Production The decrease in earnings is primarily due to lower sales volumes driven largely by asset sales, partially offset by higher selling prices and…
  8. 3Q 2013 – Hess Corp – slide 8
    Exploration and Production Adjusted Earnings Millions 3Q 2013 vs. 3Q 2012 3Q 2013 vs. 2Q 2013 800 800 700 117 (344) 700 600 8 (177) 600 546 600 208 (69) 500 458 500 23 4 458 400 400 300 300 200 200 100 100 - - 3Q…
  9. 3Q 2013 – Hess Corp – slide 9
    Worldwide Oil & Gas Production MBOEPD 3Q 2013 vs. 3Q 2012 3Q 2013 vs. 2Q 2013 450 450 402 8 44 400 400 18 341 15 8 16 350 22 350 8 310 310 300 300 250 250 200 Asset sales reduced 200 production by 83 MBOEPD 150 150 100…
  10. 3Q 2013 – Hess Corp – slide 10
    Capital and Exploratory Expenditures 3Q 2013 and 2012 Millions Three Months Ended September 30, 2,500 2013 2012 Exploration and Production United States Bakken 579 766 2,000 Other Onshore 161 150 Total Onshore 740 916 Offshore…
  11. 3Q 2013 – Hess Corp – slide 11
    Capital and Exploratory Expenditures YTD 2013 and 2012 Millions Nine Months Ended September 30, 7,000 2013 2012 Exploration and Production 6,000 United States Bakken 1,660 2,444 Other Onshore 532 575 5,000 Total Onshore 2,192…
  12. 3Q 2013 – Hess Corp – slide 12
    2012 2013 PRO FORMA EXPLORATION AND PRODUCTION RESULTS 11
  13. 3Q 2013 – Hess Corp – slide 13
    2012 2013 Pro forma Financial Information Basis of Presentation: The summarized actual and pro forma adjusted earnings for the Exploration and Production segment exclude hedging results and items affecting comparability of earnings…
  14. 3Q 2013 – Hess Corp – slide 14
    Exploration and Production Pro forma 3Q 2013 Three Months Ended September 30, 2013 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 2,340 2,173 82.08 84.17 Costs and expenses Cash costs 651 614 22.84 23.76…
  15. 3Q 2013 – Hess Corp – slide 15
    Exploration and Production Pro forma YTD 2013 Nine Months Ended September 30, 2013 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 7,653 6,679 80.89 85.08 Costs and expenses Cash costs 2,069 1,756 21.86 22.37…
  16. 3Q 2013 – Hess Corp – slide 16
    Exploration and Production Pro forma 3Q 2012 Three Months Ended September 30, 2012 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 2,904 2,211 78.51 84.87 Costs and expenses Cash costs 791 572 21.37 21.96…
  17. 3Q 2013 – Hess Corp – slide 17
    Exploration and Production Pro forma YTD 2012 Nine Months Ended September 30, 2012 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 8,913 6,696 79.44 84.50 Costs and expenses Cash costs 2,284 1,640 20.36 20.70…
  18. 3Q 2013 – Hess Corp – slide 18
    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…
  19. 3Q 2013 – Hess Corp – slide 19
    BAKKEN OPERATIONAL DATA 18
  20. 3Q 2013 – Hess Corp – slide 20
    Bakken Production - 2013 Net Production by Product 2013 YTD 4Q 3Q 2Q 1Q Oil MBBLPD 54 57 52 53 NGL MBBLPD 6 7 6 6 Gas MMCFPD * 39 44 39 34 Total MBOEPD 66 71 64 65 Net Production by Operatorship 2013 YTD 4Q 3Q 2Q 1Q…
  21. 3Q 2013 – Hess Corp – slide 21
    Bakken Production - 2012 Net Production by Product 2012 FY 4Q 3Q 2Q 1Q Oil MBBLPD 47 53 52 47 37 NGL MBBLPD 4 6 5 4 2 Gas MMCFPD * 27 32 35 23 16 Total MBOEPD 56 64 62 55 42 Net Production by Operatorship 2012 FY 4Q 3Q 2Q…
  22. 3Q 2013 – Hess Corp – slide 22
    Bakken Operational Well Statistics - 2013 Hess Operated Wells 2013 YTD 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 14 14 14 15 Drilling Days Spud-to-Spud 26 24 27 26 No. of Wells Drilled by Qrtr 146 52 45 49 Completion by Qrtr 125 39…
  23. 3Q 2013 – Hess Corp – slide 23
    Bakken Operational Well Statistics - 2012 Hess Operated Wells 2012 FY 4Q 3Q 2Q 1Q Rig Count Drilling No. Rigs 15 16 15 16 14 Drilling Days Spud-to-Spud 30 28 29 32 31 No. of Wells Drilled by Qrtr 176 53 41 42 40 Completion by…
  24. 3Q 2013 – Hess Corp – slide 24
    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 1 2…
  25. 3Q 2013 – Hess Corp – slide 25
    2013 Bakken Well Costs, Working Interests and Acreage Average Well Cost - Hess Operated 2013 YTD 4Q 3Q 2Q 1Q Drilling MM/Well 4.8 4.8 5.1 4.8 Completion MM/Well 3.4 3.0 3.3 3.8 Total MM/Well 8.2 7.8 8.4 8.6 Average Working…
  26. 3Q 2013 – Hess Corp – slide 26
    2012 Bakken Well Costs, Working Interests and Acreage 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…
  27. 3Q 2013 – Hess Corp – slide 27
    UTICA OPERATIONAL DATA 26
  28. 3Q 2013 – Hess Corp – slide 28
    Utica Operational Well Statistics - 2013 Rig and Well Count 2013 ITD YTD 4Q 3Q 2Q 1Q Rig Count Drilling - JV No. Rigs 3 3 3 3 Drilling - Hess 100% No. Rigs 1 1 1 1 Drilling - Total Utica No. Rigs 4 4 4 4 No. of Wells Drilled -…
  29. 3Q 2013 – Hess Corp – slide 29
    2013 Utica Net Revenue Interests and Acreage Average Net Revenue Interest 2013 YTD 4Q 3Q 2Q 1Q Joint Venture Acreage % 98% 98% 98% 98% 100% Acreage % 84% 84% 84% 84% Hess Average % 90% 90% 90% 91% Net Acreage Position 2013 4Q…
  30. 3Q 2013 – Hess Corp – slide 30
    Utica Well Test Results Operator Well No County Well Test Result Month and Year Hess Capstone 2H-9 Belmont 2,242 boe/d, 42% Liquids January 2013 Hess Lude 1H-34 Belmont 2,985 boe/d, 29% Liquids June 2013 Hess Porterfield C 1H-17 Belmont…

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