Hess 2014 Annual Report Download - page 43

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28 28
The Corporation’s average selling prices were as follows:
2014 2013 2012
Crude oil - per barrel (including hedging)
United States
Onshore ........................................................................................................... $ 80.67 $ 90.00 $ 84.78
Offshore .......................................................................................................... 95.05 103.83 101.80
Total United States ........................................................................................... 86.48 95.50 92.32
Europe ............................................................................................................... 104.21 88.03 74.14
Africa ................................................................................................................ 97.31 108.70 89.02
Asia ................................................................................................................... 89.71 107.40 107.45
Worldwide ...................................................................................................... 92.17 98.48 86.94
Crude oil - per barrel (excluding hedging)
United States
Onshore ........................................................................................................... $ 80.67 $ 89.81 $ 85.66
Offshore .......................................................................................................... 92.22 103.15 104.39
Total United States ........................................................................................... 85.34 95.11 93.96
Europe ............................................................................................................... 99.20 87.45 75.06
Africa ................................................................................................................ 93.70 108.07 110.92
Asia ................................................................................................................... 89.71 107.40 109.35
Worldwide ...................................................................................................... 89.78 98.01 93.70
Natural gas liquids - per barrel
United States
Onshore ........................................................................................................... $28.92 $ 43.14 $ 44.22
Offshore .......................................................................................................... 30.40 29.18 35.24
Total United States ........................................................................................... 29.32 38.07 40.75
Europe ............................................................................................................... 52.66 58.31 78.43
Asia ................................................................................................................... — 74.94 77.92
Worldwide ...................................................................................................... 30.59 40.68 47.81
Natural gas - per mcf
United States
Onshore ........................................................................................................... $ 3.18 $ 3.08 $ 2.02
Offshore .......................................................................................................... 3.79 2.83 2.15
Total United States ........................................................................................... 3.47 2.96 2.09
Europe ............................................................................................................... 10.00 11.06 9.50
Asia and other ................................................................................................... 6.94 7.50 6.90
Worldwide ...................................................................................................... 6.04 6.64 6.16
Crude oil price hedging contracts increased E&P Sales and other operating revenues by $193 million ($121 million after
income taxes) and $39 million ($25 million after income taxes) in 2014 and 2013, respectively, and reduced E&P Sales and
other operating revenues by $688 million ($431 million after income taxes) in 2012.
Production Volumes: The Corporation’s crude oil, natural gas liquids and natural gas production was 329,000 boepd in
2014, 336,000 boepd in 2013 and 406,000 boepd in 2012. Production volumes associated with assets sold were 8,000 boepd
in 2014, 52,000 boepd in 2013, and 117,000 boepd in 2012. Crude oil and natural gas liquids comprised 74%, 72% and 75%
of the Corporation’s total production in 2014, 2013 and 2012, respectively. The Corporation currently expects total
worldwide production to average between 350,000 boepd and 360,000 boepd in 2015, excluding any contribution from
Libya.