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Second Quarter 2013 – Hess Corp

Hess Corp · Jul 31, 2013 · 26 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. Second Quarter 2013 – Hess Corp – slide 1
    Second Quarter 2013
  2. Second Quarter 2013 – Hess Corp – slide 2
    Reported Net Income, Items Affecting Comparability and Adjusted Earnings by Operating Activity Millions, Except per Share Data 2Q 2Q Q1 2013 2012 2013 Net Income (Loss) Attributable to Hess Corporation (U.S. GAAP) (a) Exploration…
  3. Second Quarter 2013 – Hess Corp – slide 3
    Reported Net Income, Items Affecting Comparability and Adjusted Earnings by Operating Activity 2Q 2Q Q1 Millions, Except per Share Data 2013 2012 2013 Adjusted Earnings (Losses) (b) Exploration and Production 600 680 698 Corporate…
  4. Second Quarter 2013 – Hess Corp – slide 4
    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…
  5. Second Quarter 2013 – Hess Corp – slide 5
    Items Affecting Comparability Between Periods (Amounts are after income taxes) 1Q 2013 Exploration and Production Earnings include: Gains of 360 million from the sale of the Corporations interests in the Azeri-Chirag-Guneshli fields…
  6. Second Quarter 2013 – Hess Corp – slide 6
    Consolidated Adjusted Earnings Millions 2Q 2013 vs. 2Q 2012 2Q 2013 vs. 1Q 2013 900 900 800 800 700 700 669 (98) 585 (80) (13) 600 600 (38) (5) 20 520 520 500 500 400 400 300 300 200 200 100 100 - - 2Q 2012 E&P Corporate…
  7. Second Quarter 2013 – Hess Corp – slide 7
    Analysis of Consolidated Adjusted Earnings 2Q 2013 vs. 2Q 2012 Exploration and Production The decrease in earnings is primarily due to lower sales volumes and higher taxes, partially offset by higher selling prices and lower…
  8. Second Quarter 2013 – Hess Corp – slide 8
    Exploration and Production Adjusted Earnings Millions 2Q 2013 vs. 2Q 2012 2Q 2013 vs. 1Q 2013 900 900 145 (300) 800 800 700 680 160 (85) 698 (40) 700 (165) 600 115 (8) 600 600 600 500 500 400 400 300 300 200 200 2Q…
  9. Second Quarter 2013 – Hess Corp – slide 9
    Worldwide Oil & Gas Production MBOEPD 2Q 2013 vs. 2Q 2012 2Q 2013 vs. 1Q 2013 450 450 7 74 429 425 425 400 400 389 1 31 375 375 6 5 15 11 350 350 341 341 325 325 300 300 2Q 2012 United Europe Africa Asia and 2Q 2013 1Q…
  10. Second Quarter 2013 – Hess Corp – slide 10
    Capital and Exploratory Expenditures 2Q 2013 and 2012 Millions Three Months Ended 2,500 June 30, 2013 2012 Exploration and Production United States 2,000 Bakken 546 826 Other Onshore 195 208 Total Onshore 741 1,034 Offshore 217…
  11. Second Quarter 2013 – Hess Corp – slide 11
    Capital and Exploratory Expenditures YTD 2013 and 2012 Millions Six Months Ended 4,500 June 30, 2013 2012 4,000 Exploration and Production United States Bakken 1,081 1,678 3,500 Other Onshore 371 425 Total Onshore 1,452 2,103…
  12. Second Quarter 2013 – Hess Corp – slide 12
    2012 2013 PRO FORMA EXPLORATION AND PRODUCTION RESULTS 11
  13. Second Quarter 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. Second Quarter 2013 – Hess Corp – slide 14
    Exploration and Production Pro forma 2Q 2013 Three Months Ended June 30, 2013 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 2,496 2,238 80.40 84.90 Costs and expenses Cash costs 675 588 21.72 22.29…
  15. Second Quarter 2013 – Hess Corp – slide 15
    Exploration and Production Pro forma YTD 2013 Six Months Ended June 30, 2013 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 5,313 4,506 80.38 85.53 Costs and expenses Cash costs 1,418 1,143 21.45 21.69…
  16. Second Quarter 2013 – Hess Corp – slide 16
    Exploration and Production Pro forma 2Q 2012 Three Months Ended June 30, 2012 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 3,118 2,353 79.85 84.67 Costs and expenses Cash costs 756 546 19.38 19.66…
  17. Second Quarter 2013 – Hess Corp – slide 17
    Exploration and Production Pro forma YTD 2012 Six Months Ended June 30, 2012 Actual Pro Forma Actual Pro Forma ( Millions) (/BOE) Net revenue 6,010 4,484 79.91 84.32 Costs and expenses Cash costs 1,494 1,068 19.87 20.08…
  18. Second Quarter 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. Second Quarter 2013 – Hess Corp – slide 19
    BAKKEN OPERATIONAL DATA 18
  20. Second Quarter 2013 – Hess Corp – slide 20
    Bakken Production - 2013 Net Production by Product 2013 YTD Q4 Q3 Q2 Q1 Oil MBBLPD 52 52- 53 NGL MBBLPD 6 6- 6 Gas MMCFPD 37 39- 34 Total MBOEPD 64 64- 65 Net Production by Operatorship 2013 YTD Q4 Q3 Q2 Q1 Operated…
  21. Second Quarter 2013 – Hess Corp – slide 21
    Bakken Production - 2012 Net Production by Product 2012 FY Q4 Q3 Q2 Q1 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 Q4 Q3 Q2…
  22. Second Quarter 2013 – Hess Corp – slide 22
    Bakken Operational Well Statistics - 2013 Hess Operated Wells 2013 YTD Q4 Q3 Q2 Q1 Rig Count Drilling No. Rigs 15 14 15 Drilling Days Spud-to-Spud 27 27 26 No. of Wells Drilled by Qrtr 94 45 49 Completion by Qrtr 86 49 37…
  23. Second Quarter 2013 – Hess Corp – slide 23
    Bakken Operational Well Statistics - 2012 Hess Operated Wells 2012 FY Q4 Q3 Q2 Q1 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. Second Quarter 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…
  25. Second Quarter 2013 – Hess Corp – slide 25
    2013 Bakken Well Costs, Working Interest and Acreage Average Well Cost - Hess Operated 2013 YTD Q4 Q3 Q2 Q1 Drilling MM/Well 4.9 5.1 4.8 Completion MM/Well 3.6 3.3 3.8 Total MM/Well 8.5 8.4 8.6 Average Working Interest of New…
  26. Second Quarter 2013 – Hess Corp – slide 26
    2012 Bakken Well Costs, Working Interest and Acreage Average Well Cost - Hess Operated 2012 FY Q4 Q3 Q2 Q1 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…

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