Hess Corp (NYSE:HES)
$ 159.95 2.29 (1.45%) Market Cap: 49.28 Bil Enterprise Value: 56.78 Bil PE Ratio: 24.49 PB Ratio: 4.99 GF Score: 82/100
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Hess Corp at Credit Suisse Energy Summit Transcript

Feb 12, 2019 / 02:30PM GMT
Release Date Price: $55.14 (+2.91%)
John B. Hess
Hess Corporation - CEO & Director

Good morning, everybody. And Bill, thanks a lot for hosting us and Crédit Suisse as well, and we'll get started.

Okay, we're good here. We're just waiting for the music to be cut off. Maybe it will improve my presentation. We'll see. Okay, good.

Welcome, everyone. First, we'd like to begin with our strategic priorities, starting with our disciplined capital allocation. We will invest only in high-return, low-cost opportunities. 75% of our capital expenditures through 2025 will be directed to 2 of the best investments in our industry, Guyana and the Bakken.

With regards to our portfolio, we have divested high-cost mature assets and are investing in high-return, low-cost assets that are balanced between short cycle and long cycle, with the deepwater Gulf of Mexico and Malaysia being our cash engines and Guyana and the Bakken being our growth engines. It's important to note that the Bakken and Guyana both become significant cash engines over the next 3 years, and our portfolio breakeven declines to $40 per barrel Brent by 2025.

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