Hess Corp at Barclays CEO Energy-Power Conference Transcript

Sep 08, 2022 / 12:00PM GMT
Jeanine Wai - Barclays Bank PLC, Research Division - Research Analyst

All right. Good morning, everyone. Everybody is looking good. So we are extremely pleased today to have with us Mr. John Hess, CEO of Hess Corporation. Hess is a diversified large-cap E&P with operations in the Bakken and Gulf of Mexico and the U.S. as well as Southeast Asia. And of course, we cannot forget Hess' world-class 11 billion BOEs, Stabroek offshore Guyana that has break-evens of 25 to 35 Brent.

Hess has commenced buybacks last quarter as part of its return of capital framework, and it calls for returns of up to 75% of adjusted free cash flow. So before we get into our presentation, we have 2 polling questions. Everybody has a keypad in front of you. And since you are the first session, it has all been live, so do not worry about it. If you want to light it again, there are some lights there too. So I am going to read a question, press the number for your response, and we're going to see the results immediately.

First question, please. What price will WTI average in 2023? Press 1 for less than 70, 2 for

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