HESS CORPORATION BARCLAYS CEO ENERGY-POWER CONFERENCE SEPTEMBER 4, 2014
Pure Play E&P Driving Shareholder Value Focused World Class Portfolio Visible growth in production of 5%-8% CAGR (2012 Pro Forma - 2017) Long life assets in areas where Hess has proven capability Five key areas represent 80% of…
E&P Portfolio Focused in Five Areas Located in Areas Where Hess is Competitively Advantaged Valhall / Pro Forma Metrics South Arne 11% Prod. 2013A Production (Mboe/d) 285 Bakken 24% Res. 23% Prod. Utica 31% Res. 2013A Reserves…
Three Pronged Strategy to Drive Growth and Returns Unconventional Pro Forma Production Bakken free cash positive in 2015 Large inventory of high return Bakken well locations goal of 150mbd by 2018 Leading position in emerging…
Leading Oil-Linked Asset Base 76% Liquids Source: SEC filings, company annual reports, and company press releases 6 Note: Percentage of reserves that are liquids based for peers calculated as per 2013 year-end SEC filings;…
Progress on Divestiture Program After Tax Proceeds Asset Terms Agreed Date Completion Date (in millions) Beryl Oct-2012 Jan-2013 440 Azerbaijan (ACG) Sep-2012 Mar-2013 880 Eagle Ford Mar-2013 May-2013 280 Russia (Samara-Nafta) Apr-2013…
Enhanced Financial Flexibility and Providing Current Returns to Shareholders Financial Flexibility to Fund Future Total Upstream Capital and Exploratory Expenditures Growth Paid down 2.4 billion of short term debt 8.1 bn with…
ASSET OVERVIEW
Unconventional Exploitation Exploration World Class Position in Bakken Shale Strategic / Portfolio Context Burke Single biggest contributor to production growth Tioga Rail Terminal through 2018 Tioga Gas Plant Competitively advantaged;…
Unconventional Exploitation Exploration Driving Performance in the Bakken Reducing Well Costs Drilling Performance: Spud-to-Spud Days Drilling & Completion Costs (mm) 51% improvement 44% improvement While Optimizing Well…
Unconventional Exploitation Exploration Significant Value Uplift From Bakken Infrastructure Tioga Rail Terminal Strategic / Portfolio Context Flexibility to access highest value markets Maximize value per boe Intend to monetize…
Unconventional Exploitation Exploration Core Position in Emerging Ohio Utica Shale Play Oil Wet Gas Dry Gas Strategic / Portfolio Context Jefferson Cadiz A 1H-23 Material position in wet gas area Green A 1H-6 Leverages Bakken…
Unconventional Exploitation Exploration Deepwater Gulf of Mexico Portfolio Strategic / Portfolio Context Asset Details Material, high margin assets with Key producing assets: Shenzi, successful exploitation track record Conger and…
Unconventional Exploitation Exploration Tubular Bells High Margin Asset; On Line 3Q14 Strategic / Portfolio Context Louisiana Tubular Bells Material high margin asset Key contributor to production Stampede growth and cash flow…
Unconventional Exploitation Exploration Valhall Multi-Year Drilling Opportunities Strategic / Portfolio Context Long life, material asset; 3.2 Bboe originally in place (gross) Key forward contributor to reserves, production and…
Unconventional Exploitation Exploration South Arne High Margin with Exploitation Upside Strategic / Portfolio Context High margin and free cash flow Exploitation upside through infill drilling and near field tie backs Leverages…
Unconventional Exploitation Exploration Equatorial Guinea Block G 4-D Seismic Unlocking Value Strategic / Portfolio Context High margin and strong cash flow Material contributor to production 4D seismic has resulted in additional…
Unconventional Exploitation Exploration JDA Material Production and Free Cash Flow Cakerawala Strategic / Portfolio Context JDA Platform Low cost, long life gas asset Thailand Material production and free cash flow PM302…
Unconventional Exploitation Exploration North Malay Basin Low Risk Oil-Linked Gas Development Cakerawala Strategic / Portfolio Context JDA Platform Low risk development of 9 discovered Thailand gas fields Material production and…
Unconventional Exploitation Exploration Ghana Deep Water Tano Cape Three Points Cote dIvoire Ghana Hess 50% W.I., operator Hess Operated 7 discoveries material to resource base Hess Discovery Industry Developments Builds on West…
Pure Play E&P Driving Shareholder Value Focused World Class Portfolio Three Pronged Strategy to Drive Growth and Returns While Managing Risk Financial Flexibility to Fund Future Growth Providing Current Returns to…
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