The document summarizes Hess Corporation's strategy, highlights from 2007, exploration and production goals, and global development portfolio. The strategy involves growing the exploration and production business long-term while operating marketing and refining assets for near-term returns. In 2007, Hess grew proved reserves by 7% and replaced 167% of production. Exploration and production goals are to grow production by 3-5% and reserves by 5-8% annually. The global development portfolio includes assets such as the Bakken shale in North Dakota and Shenzi field in the Gulf of Mexico slated to begin production in 2009.
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Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
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1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
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2. 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
• Build a sustainable franchise
• Create value through exploration, developments and technology
MARKETING AND REFINING
• Expand Hess brand in Retail and Energy Marketing on East Coast
• Maximize free cash flow from refining assets
FINANCIAL
• Deliver first quartile financial and shareholder returns
• Ensure capital availability to fund growth
2
3. 2007 Highlights
Generated net income of $1.8 billion
Grew year end proved reserves by 7% to 1.33 billion boe
Replaced 167% of production - FD&A cost of $16.20 per boe
Increased reserve life to 9.5 years
Grew worldwide oil and gas production by 5%
Expanded our Retail and Energy Marketing businesses
Improved debt to capitalization ratio to 28.9%
Total Shareholder Return 104% - 10th best in S&P 500
th
3
4. E&P Goals and Strategy
Goals
Grow Production by 3-5% p.a.
Grow Reserves by 5-8% p.a.
Strategy
Deliver resources and value from exploration
Execute cost effective developments
Extract more value from producing fields
Build a sustainable growth portfolio
4
6. Significant Growth from New Developments
2010
Production Capacity
MBOED (Net)
Bakken Jambi Merang
150 Seminole ROZ
2009
Pangkah Oil
100 Shenzi
2008
JDA Phase 2 Snøhvit
50
ACG Phase 3
2007
Sinphuhorm Okume Complex
0 Pangkah Gas Genghis Khan
07 08 09 10
Represents production capacity, not forecast 6
7. Okume Complex
Hess 85% W.I., operator
125 - 150 MMBOE net
resources
40 MBOED net peak
production achieved
1Q08
7
8. JDA
50% W.I.
Largest reserve holding in
portfolio
Attractive economics
PSC through 2029
Phase 1
Pilok
Thailand
Bangkok
~120 MMSCFD net production
Cambodia
Yetagon
Phase 2
Vietnam
Will double net production to
Erawan
Gulf of
Pailin Thailand
~250 MMSCFD in 3Q08
Songkhla
JDA
JDA
Malaysia
Kerteh
Kuala
Lumpur
Sumatra
Singapore
8
9. Pangkah
Hess 75% W.I., operator
80 - 120 MMBOE net
resources
First gas in April 2007
First oil in 1H09
20 MBOED net
Kuala Lumpur Malaysia
production in 2009
Indonesia
Pangkah
Java Sea
Jakarta
9
10. Shenzi
Hess 28% W.I.
GC 609
3 mi
GC 608 GC 610
Un-tested North
Flank
Development
100-150 MMBOE net
Plan Area
resources
#G1-1
609 #1
Salt
#1
#1
Facilities installation
#3ST1
#2ST2
#4
scheduled for
#2
#2
#3
#5
Genghis
mid 2008
Khan
#2ST1
GC 653 GC 654
GC 652
First oil in 1H09
Green Canyon Area
Shenzi
25 MBOED net peak
Pony /
production
K2 Area
Knotty Head
Neptune
lt
be
Tahiti
ld
Fo
Tonga
e
en Atlantis
c
io Mad Dog
M Puma
Miocene Fields
10
11. North Dakota Bakken Shale
Williston Gas Plant
Impact
Tioga
Beaver
East
Lodge Red Sky
Nesson
Capa
• Hess enjoys strong infrastructure
position in Williston Basin
• 411,000 net acres in North
Blue
Buttes
Dakota Bakken Shale play
Hawkeye
• Six rig program in 2008;
Stampede
eight rigs in 2009
• 2008 net production ~8 MBOED
11
12. Hess Global Exploration
Strategy
Pursue a global program which delivers value and secures long
term growth through an appropriately balanced portfolio
Tactics
• Focus on the best basins
• Take material equity positions
• Apply fit-for-purpose technology
• Focus on high-impact wildcat and appraisal wells
BASIN PLAY LEAD NEW FIELD APPRAISAL
INVENTORY INVENTORY INVENTORY WILDCATS
Prospect Inventory
Define & Rank Define & Rank & Define & Rank & Define & Rank & Calibrate, Evaluate,
Best Basins Capture Best Plays Mature Best Leads Drill Best Prospects Appraise
12
13. Deepwater Gulf Of Mexico Program
Texas Louisiana
Tubular Bells
Conger
Pony
Northwestern
y
Pla
Green
e
Canyon
Garden
en
i oc
Banks
M
Shenzi
Llano Baldpate
Paleogene Play
4 Producing Fields 1 Field Development 2 Field Appraisals
13
14. US Gulf Of Mexico – Pony Prospect
Pony Well Pony Well
GC 468 No. 2 GC 468 No. 2 ST
Hess 100% W.I.
Salt 100 - 500 MMBOE net resource
potential on Hess blocks
Discovery well encountered 475 feet
Pony Well
GC 468 No. 1 ST
of oil saturated sandstones
Pony Well
Pony No. 1 ST well confirmed 100+
GC 468 No. 1
MMBOE net resource
Knotty Head Well
No.2 well encountered all reservoir
GC 512 No. 1
sands seen by discovery well
3 Miles
No. 2 ST well result expected in
Knotty Head Well
GC 512 No. 1 ST
2Q08
14
15. Australia Exploration Program
North West Shelf, Australia
WA-390-P
• Hess 100% W.I.
• 2 - 15 TCF resource
potential
WA-404-P
Scarborough • 3D seismic acquired
Jansz-lo Pluto
5 TCF
20 TCF 4-6 TCF • Drilling starts late 2Q08
WA-404-P
• Hess 50% W.I.
• 2 - 15 TCF resource
Greater Gorgon
Area potential
WA-390-P
40 TCF
60 km • 3D seismic in 2008
• Drilling starts 2009
15
16. Libya – Area 54
• Hess 100% W.I.
AREA 54
Mediterranean
Sea
• Large significant
untested structure
Algeria
Egypt
• Potential offshore
Libya
extension of
prolific Sirte Basin
500 km
• Rig commitment
Sirte Basin
signed; anticipated
mid 2008 spud
16
17. Ghana – Tano Cape Three Points
• Hess 100% W.I.
COTE D’IVOIRE GHANA
• Significant frontier
acreage position
• Adjacent to Jubilee
Odum-1
Jubilee Field
Field (Mahogany
discovery & Hyedua-1
Ankobra
50 Km
50 Km
appraisal)
• Anticipate drilling
in 4Q08
17
18. Brazil Exploration Program
BM-ES-30
• Hess 60% WI
• 3D seismic acquired in
2007
• Anticipate drilling in
2009
• Above salt
• Cretaceous sandstone
BM-S-22
• Hess 40% WI
• Drill 3Q08
• Sub-salt
• Cretaceous carbonate
18
19. Marketing and Refining
NY
Refinery
Refinery
Strategic Objectives
Terminal
Terminal
MA
Marketing
Marketing
PA
NJ Port Reading
Port Reading
Expand Hess brand in
MD
MD
DE
Retail and Energy
VA
VA
Marketing on East Coast
NC
NC
SC
SC
Maximize free cash flow
GA
1,475 Miles
from refining assets
FL
to New York
FL
3,900 Miles 500 Miles
to Los Angeles from Venezuela
19
20. Industry Leading Performance
Per Site Averages
Per Site Averages
Volume (Mg/Mo)
225
225
215
215
208
208
200
200 204
204
191
191
175
175
178
178
170
170
150
150
125
125
100
100
02 03 04 05 06 07
02 03 04 05 06 07
C-Store Sales ($M/Mo)
125
118
116
114
113
100 104
96
75
50
02 03 04 05 06 07
Typical Major
Typical Major
20
21. Energy Marketing
Strong brand and reputation
Strong brand and reputation
Scale advantage
Scale advantage
More than 17,000 customers
More than 17,000 customers
• Fuel Oil Sales: 130 MB/D
• Fuel Oil Sales: 130 MB/D
• Natural Gas Sales: 1.6 BCF/D
• Natural Gas Sales: 1.6 BCF/D
• Electric Sales: 3,000 MWH (RTC)
• Electric Sales: 3,000 MWH (RTC)
Selective Growth
Selective Growth
21
22. Hovensa Refinery
50/50 JV formed in 1998 by Hess
50/50 JV formed in 1998 by Hess
and PDVSA
and PDVSA
Capacity
Capacity
• Crude 500 MB/D
• Crude 500 MB/D
• FCC 150 MB/D
• FCC 150 MB/D
• Coker 58 MB/D
• Coker 58 MB/D
World Class Merchant Refinery
World Class Merchant Refinery
• Competitive geographic position
• Competitive geographic position
• Economies of scale
• Economies of scale
• Long term PDVSA crude supply
• Long term PDVSA crude supply
22
23. Summary
● Strategy in place
● Portfolio reshaped
● Delivering performance
● Exciting investment opportunities
● Sustainable growth
● Skilled management team
23
24. Forward-Looking Statements and Other Information
Forward-Looking Statements and Other Information
This presentation contains projections and other forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These projections and statements reflect the company’s current views with respect to
future events and financial performance. No assurances can be given, however, that these
events will occur or that these projections will be achieved, and actual results could differ
materially from those projected as a result of certain risk factors. A discussion of these risk
factors is included in the company’s periodic reports filed with the Securities and Exchange
Commission.
The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved
reserves that a company has demonstrated by actual production or conclusive formation tests to
be economically and legally producible under existing economic and operating conditions. We
use certain terms in this presentation relating to reserves other than proved, such as unproved
resources, that the SEC’s guidelines prohibit registrants from including in filings with the SEC.
Investors are urged to consider closely the disclosure in Hess’ Form 10-K, File No. 1-1204,
available from Hess Corporation, 1185 Avenue of the Americas, New York, New York 10036 c/o
Corporate Secretary and on our website at www.hess.com. You can also obtain this form from
the SEC on the EDGAR system.
This presentation contains certain non-GAAP financial measures. A reconciliation of the
differences between these non-GAAP financial measures and the most directly comparable GAAP
financial measures can be found in this presentation on our website at www.hess.com.
24