All right. Good morning, everyone. Everybody's looking good. We are extremely pleased today to have with us Mr. John Hess, Chief Executive Officer of Hess Corporation. Hess is a diversified large cap E&P with operations in the Bakken and Gulf of Mexico in the U.S., as well as Southeast Asia. Of course, we can't forget Hess's world-class 11 billion BOE Stabroek Block in offshore Guyana that has breakevens of $25-$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. Before we get into our fireside chat or our presentation, excuse me, we have two polling questions. Everybody has a keypad in front of you, and since you're the first session, it's all been wiped, so don't worry about it. If you wanna wipe it again, there's some wipes there too. So I'm gonna 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 one for less than $70, two for $70-$80, three for $80-$90, four $90-$100, five $100-$110. And for all you bulls, press six as many times as you want for over $110. Pretty mixed. Well, I think people are feeling more bearish than yesterday. Yesterday, the responses were, the majority were $80-$90 and $90-$100, but I get it. All right. Second question, please. What do you think year-over-year lower forty-eight service cost inflation will be in 2023? Press one for flat, unlikely, two for less than 10%, single digits, three 10%- 20%, four 20%- 30%, and all you service bulls, five, 30% or more. Okay. That's very consistent with yesterday and actually the first day as well. Thank you again for attending our 36th Annual Barclays CEO Energy and Power Conference, and it is our pleasure to have Mr. John Hess. Thank you, Janine and Barclays for hosting the conference. Good morning, everyone. It's nice to be back here in person, Janine. We'll get started. First, we have the normal disclosures regarding forward-looking information, and we'll get started with the presentation. We believe that Hess offers a highly differentiated value proposition for investors. Our strategy is to deliver high return resource growth, a low cost of supply, and industry-leading cash flow growth. That's something that really does differentiate us, while at the same time maintain our industry leadership in environmental, social, and governance performance and disclosure. Our successful execution of this strategy has uniquely positioned our company to deliver significant value to shareholders for years to come by growing both intrinsic value and cash returns. With multiple phases of Guyana developments coming online, Hess can deliver highly profitable production growth of more than 10% annually over the next 5 years, with line of sight of up to 10 FPSOs in Guyana to develop approximately 11 billion barrels of oil equivalent of gross discovered recoverable resource. Our robust inventory of high-return drilling locations in the Bakken. Hess's ability to deliver high-value resource growth is industry-leading. As our resource base expands, we will steadily move down the cost curve. Our four sanctioned Guyana developments have fully loaded $25-$35 Brent breakevens. In addition, by 2026, we forecast that our cash unit costs will decline by 25% to approximately $9 per BOE, and that our portfolio will achieve a Brent breakeven of approximately $45 per barrel Brent. In terms of cash flow growth, we have an industry-leading rate of change story and industry-leading durability story. Between 2021 and 2026, assuming a Brent price of $65 per barrel, our cash flow is forecasted to increase by approximately 25% per year, more than 2x as fast as our production growth, and obviously a leader in the industry. Our balance sheet will also continue to strengthen in the coming years, with debt to EBITDAX expected to decline to well under 1x in 2024. In March, we increased our quarterly dividend by 50%. As Janine just said, in the second quarter, we commenced a $650 million share repurchase program, which will be completed by the end of 2022. Looking forward, Hess is well positioned to deliver increasing cash returns to shareholders through both dividend increases and share repurchases. This slide highlights the significant improvement in operating and financial metrics that we expect to deliver over the next five years, driven by multiple phases of low-cost oil developments in Guyana. Between 2021 and 2026, we forecast that our net production will grow at a compound annual growth rate of more than 10%, as I said earlier. While over the same period, we expect to drive our cash costs down by approximately 25%. As shown at the bottom of this chart, this production growth combined with lower unit costs generates 25% annual cash flow growth and a significant reduction in our debt-to-EBITDAX ratio over this period at a flat mid-cycle $65 per barrel Brent price. By 2026, we forecast that our portfolio will have a debt-EBITDAX ratio of well under one and a Brent breakeven oil price of approximately $45 per barrel. As our portfolio becomes increasingly cash flow positive and our cash flow compounds, you have our commitment that we will prioritize significantly increasing cash returns to our shareholders. Our financial priorities remain to have a disciplined capital allocation process so that we invest only in high return, low cost opportunities, to have a strong cash position and balance sheet to ensure that we can fund our world-class investment opportunities in Guyana, and to maintain our investment-grade credit rating. At June 30th, we had $2.2 billion of cash on the balance sheet. To manage oil price volatility, we have in place put options that hedge approximately 150,000 barrels per day of our oil production for 2022, 90,000 barrels a day at $60 per barrel WTI, and 60,000 barrels per day at $65 per barrel Brent. With a successful startup of Liza Phase II in February of this year, we repaid the remaining $500 million of our term loan and increased our regular quarterly dividend by 50%. In the second quarter, we repurchased $190 million of common stock under an existing $650 million authorization, and we intend to utilize the remaining amount under the stock repurchase program by the end of this year. As I mentioned earlier, we have committed to return up to 75% of free cash flow to shareholders through dividend increases and share repurchases. This slide highlights our return of capital framework. We have committed to return up to 75% of annual free cash flow to shareholders, with the remainder going to strengthen our balance sheet through increasing our cash position or debt reduction. Cash returns will be implemented through increases to our dividend and share repurchases. We plan to increase our dividend to a level that is attractive to income-oriented investors, but sustainable in a low oil price environment. We announced a 50% increase to dividend on March 1st, 2022, and plan further increases to our regular dividend in the future. We commenced the share repurchase program in the second quarter and plan to repurchase $650 million of common stock in 2022. Again, as our portfolio becomes increasingly free cash flow positive in the coming years, share repurchases are expected to represent a growing proportion of our capital returns. Now let's talk macro. The International Energy Agency's World Energy Outlook provides several aggressive, sustainable development scenarios. Under all of these scenarios, and that is what they are, not forecasts, industry will need to invest significantly more in oil and gas projects than we are currently, even under the net zero scenario to meet forecasted demand. The energy transition will take a long time, cost significant sums of money, and require major technological breakthroughs. While we must have policies to encourage renewable energy to battle climate change, oil and gas will still be needed for many decades to come and will continue to be fundamental to world economic growth and human prosperity. The key for our company is to have a low cost of supply by investing only in high return, low cost opportunities. We have built a differentiated portfolio of assets that we believe positions us well for the future. As we continue to execute our company's strategy, we will be guided by our long-standing commitment to sustainability. We recognize climate change as one of the greatest scientific challenges of the 21st century. We support the ambition to reduce global emissions to net zero by 2050. Our board of directors is climate change literate and actively engaged in overseeing Hess's sustainability practices. Our strategy and reporting are aligned with the recommendations of the Task Force on Climate-related Financial Disclosures, or better known as TCFD. In 2020, we significantly surpassed our five-year targets for Scope One and Two greenhouse gas emissions intensity from our operated assets, reducing greenhouse gas emissions intensity and flaring intensity by 46% and 59%, respectively, versus 2014. Our new five-year targets for 2025 are to reduce operated Scope One and Two greenhouse gas emissions intensity and methane emissions intensity both by approximately 50% versus 2017. We have also committed to achieve zero routine flaring at our operated assets by the end of 2025. In addition, we are investing in technological and scientific advances designed to reduce, capture, and store carbon emissions, including the groundbreaking work being conducted by the Salk Institute. Our board of directors is actively engaged in overseeing Hess's sustainability practices, working alongside our senior management. In terms of safety, since early 2020, a multidisciplinary Hess Emergency Response Team has been overseeing our plans and precautions to reduce the risk of COVID-19 in our work environment. We work closely with our employees and contractors to promote a strong safety culture and continuously improve our performance. In keeping with our company values and purpose, we have a long-standing commitment to diversity, equity, and inclusion in our workplace, and to social investment programs that make a positive and lasting impact on the communities where we operate. We have published an annual sustainability report for the past 25 years and are proud to be recognized as a leader in most of the major sustainability indices, including a level 4 rating from the Transition Pathway Initiative, a AAA MSCI ESG rating, and being a member of the Dow Jones Sustainability North America Index for 12 consecutive years and the 100 Best Corporate Citizens list for 15 consecutive years. On that Best Corporate Citizens list, we're the only energy company. Now let's go to Guyana, where Hess has a 30% interest in the 6.6 million acres ExxonMobil-operated Stabroek Block. The estimate for gross discovered resources on the block currently stands at approximately 11 billion barrels of oil equivalent, and we continue to see multi-billion barrels of future exploration potential remaining. Gross production from Liza Phase I and Liza Phase II in Guyana is currently averaging approximately 360,000 barrels of oil per day. The Payara development, which will have a capacity of 220,000 barrels of oil per day, is planned to achieve first oil in late 2023. Our fourth development at Yellowtail is planned to start up in 2025 with a gross capacity of approximately 250,000 barrels of oil per day. We plan to submit a plan of development for our fifth project at Uaru later this year, and continue to see the potential for at least six FPSOs to produce greater than 1 million barrels of oil per day by 2027, and longer-term, for up to 10 FPSOs to develop the discovered resource base. Our Guyana discoveries are some of the industry's largest of the past decade. These reservoirs rank among the highest quality in the world, with high porosity and permeability that are expected to deliver very high recovery factors and production rates. Also, since the producing horizons are relatively shallow and there is no salt, the wells can be drilled faster and at a lower cost compared to those in other deepwater basins in the world. In addition, our initial developments have occurred at the bottom of the offshore cost cycle. Finally, ExxonMobil as operator is one of the most experienced project managers in the world, which significantly reduces our execution risk. Guyana is truly a transformational and unique investment opportunity for Hess. As I mentioned in Guyana, we have discovered approximately 11 billion barrels gross barrels of oil equivalent of recoverable resource and are positioned to grow production to more than 1 million barrels of oil per day in 2027, an extraordinary outcome. The map at the lower left shows the planned placement of the first four FPSOs. The Wood Mackenzie plot on the lower right compares their analysis of the growth of the Liza complex to other major deepwater provinces. The production growth ramp for the Liza Stabroek complex is the best in the industry and will create tremendous value for our shareholders for many years to come. This slide highlights our four sanctioned developments in Guyana that have a Brent breakeven oil price of between $25 per barrel and $35 per barrel, which is truly world-class. In total, we see the potential for up to 10 FPSOs ultimately to de-develop the discovered resource to date on the Stabroek Block. This slide uses Wood Mackenzie data to highlight how well Guyana is positioned relative to other major producing areas in the world. The y-axis is Scope 1 and Scope 2 emissions intensity and the x-axis operating cash margin, both looking at the year 2025. Guyana is the green dot at the lower right, positioning Guyana in a league of its own. The chart at the right also uses Wood Mackenzie data and shows that Guyana production growth is set to exceed Mozambique, Iraq, and Brazil combined. Let us now move to Southeast Asia, where Hess is an established operator with two very strong long-life natural gas assets, the Joint Development Area and the North Malay Basin. These lower risk, lower cost assets are expected to deliver net production of 60,000 barrels-65,000 barrels of oil equivalent per day and to generate strong free cash flow over the balance of this decade. These assets have oil-linked pricing and operate under production sharing contracts that provide downside production in periods of low oil prices. Now let's talk about the deepwater Gulf of Mexico, where Hess has a well-established operating position with three key infrastructure hubs. Net production in 2021 is expected to average approximately 30,000 barrels of oil equivalent per day and generate significant free cash flow for our company. While the primary role of the deepwater Gulf of Mexico in our portfolio remains as a cash flow engine, it is also a platform for future growth and is supported by our top quartile operating capabilities. After a two-year hiatus, in 2022, we resumed a focused drilling program, targeting both low risk, high return tieback opportunities and larger hub class development opportunities. In July, we announced that the Huron exploration well on Green Canyon Block 69 encountered high quality oil-bearing Miocene reservoirs. Evaluation of the well results are ongoing and appraisal activities are being planned. In August, we achieved first oil from Llano-6 development well, which is a tieback to Shell's Auger facility. Now turning to the Bakken, where, by the way, we and our board were yesterday and the day before. Our largest operated asset. We have an industry-leading position with approximately 460,000 net acres in the core of the play. Recovery from the challenging weather conditions in the first half of the year is going well, and in July, we added a fourth operated drilling rig. As a result, we anticipate net production to increase to 200,000 barrels of oil equivalent per day during 2024, which will accelerate cash flow generation, lower our unit cash cost, and further optimize our infrastructure. We have more than 2,000 future drilling locations that can generate strong financial returns at a $60 per barrel WTI price and represent about 70 rig years of activity. Or another way to look at it, we have about a 15-year drilling inventory in the Bakken, and many companies in shale are struggling with the longevity of their drilling inventory. Ours is at least 15 years. In 2022, we plan to bring online 80 new wells-85 new wells. At the table in the lower right of the slide, you will see that in 2022, we forecast our EURs to average near 1.2 million barrels of oil equivalent, IP180 rates to average near 120,000 barrels of oil, and IRRs to average more than 100% at $60 WTI. Obviously, at current prices, these metrics are even more impressive. Hess Midstream provides strategic infrastructure that supports Hess' upstream development in the Bakken and continues to generate significant value for Hess Corporation. To date, Hess has received cash proceeds from Hess Midstream transactions of approximately $4.3 billion. We maintain operational control, and following Hess Midstream's recent stock buyback and a secondary offering earlier this year, Hess owns 41% of Hess Midstream currently, valued net to Hess at $2.9 billion. In summary, with the startup of Liza Phase II, all of our major assets are now free cash flow positive, and we are committed to being an industry leader in both ESG performance and disclosures. In Guyana, we now have gross discovered resources of approximately 11 billion barrels of oil equivalent and expect gross production to exceed 1 million barrels of oil per day in 2027. Our low-cost Guyana oil developments will drive industry-leading cash flow growth and financial returns in the coming years. As I said before, we have an intrinsic value story, but we also have a cash return story. In first quarter, we have repaid the remaining $500 million of our term loan and raised the dividend by 50%. In the second quarter, we commenced the share repurchase program and plan to repurchase $650 million of stock in 2022. As the portfolio becomes increasingly free cash flow positive in the coming years, we commit to prioritizing through our capital return framework, the return of capital to our shareholders through dividend increases and repurchases of stock. Thank you. You wanna come over here and have a seat? We can have a little bit of a Q&A. Happy to do it. All right. Thank you for the opportunity. I'd love to start with where you ended on the cash return story. Yes. After you get done the buyback, next year we're doing up to 75%. Right. Of the cash flow, so it's gonna be returned. How do you determine where in that range from 0%-75% that you ultimately land for the year? Well, the first determinant is gonna be getting our hands around our capital program, because of activity adding the fourth rig in the Bakken, we're gonna be drilling some wells in the Gulf of Mexico and authorizing the Uaru development to add to the other two developments that we're developing. You know, our CapEx is gonna be going up. Once we firm up that number, and we're still working on what the estimate for Uaru is gonna be and then submit that to the government of Guyana, that will then really determine the CapEx piece. Depending upon oil price, you know, we'll see where the free cash flow ends up. One of the priorities will be to prioritize increasing the dividend. We wanna have steady dividend growth. Whatever is left after that, around 75%, up to 75%, the majority of that will be available for share repurchases. Okay, exciting. If we could turn to Guyana. Sure. My second favorite topic for us. You talked about how it's a world-class reservoir, low drilling costs. Yes. ExxonMobil, second to none in execution. Where are the risks from here, when you think about the future development? Is it on cost? Is it on something in-country risk? Just taking the other side of the coin here. No, of course. Look, the supply chain, whether it's onshore or offshore in the industry, has upward pressure. While Exxon's done an outstanding job for the first four developments, the supply chain pressures are starting to be seen in the offshore as well. I don't think there's anybody better than Exxon to keep those tempered, keep those under control, but we're working that through the system. You know, there's a lot more work going on in yards. Offshore drilling rigs are at higher cost. Exxon's done a lot to contain those cost increases, but there'll be some cost increases there. That's, I think, the first thing. The government is very pro-business, has been very clear about the only way to develop their economy, improve the standard of living for the people of Guyana is to accelerate the development of their oil resource. They're very pro development of oil, obviously, keeping environmental stewardship at the front of how they think about authorizing these and overseeing these developments. There's a very good working relationship with the government, where obviously we meet their requests for operation and environmental performance. It's been clear that they wanna move forward as expeditiously as possible so they can get the cash resources to develop their country. One thing I'm very proud of is that Hess formed a strategic partnership with Mount Sinai Health System here in New York, along with the government, to have a healthcare initiative that will work, and it's a multiyear commitment that and Hess underwrites the majority of this financial commitment to really improve the healthcare in Guyana, focusing on primary and preventative healthcare, tertiary healthcare, and oncology and cardiology, and also upgrading the Georgetown Public Hospital. We and ExxonMobil has other initiatives and our joint venture has other initiatives to really make a positive impact on social development. I think that's key. It's the right thing. I think all oil companies, all multinational U.S. companies should be at the front of the line investing in the communities to have a positive impact on them. We're very proud that we're moving forward with that healthcare initiative. Maybe sticking in country. One of your peers, they had announced in 2022 that they were experiencing some inefficiencies with rig ramp-ups. They were having problems retaining labor because there's just a lot of pull in the region. Their development was onshore, so a little bit different. But from a layman's perspective, what kind of risk is there to labor and resources on a development like what you see in the FPSOs? Is it less labor intensive because it is a ship, and you don't have to worry about that? Well, it's a great question. You know, whether it's in the exploration phase, the appraisal phase, the development phase or the production phase, I think ExxonMobil's done a lot of excellent planning and pre-positioning to position us. That's really not an issue for our project. Okay, great. I know we only have a minute and a half left. I'd love to just talk about. Well, I'll let you choose. Do you wanna talk about the Bakken or the Inflation Reduction Act? I think I'll probably take the one of Bakken so I don't have to get in politics. Okay. I'm happy to do both. On the Bakken, it's been a really active M&A market. Yeah. We've been a little bit surprised given commentary and concerns of it being procyclical, and then we see a bunch of deals. You have 15 years of inventory in the Bakken. Would you call yourself a net buyer or a net seller? I would call ourselves as a company that's looking to improve the returns in our portfolio. We don't see anything in the M&A market that compares with a, you know, big plate of excellent investment opportunities that we have in our own portfolio. We're always looking to upgrade our portfolio either by buying or selling. But in terms of where we are, you know, we're not gonna be looking to the M&A market to get bigger. We only wanna get better, and that's all about investing for higher returns and low cost opportunities. We don't see anything in the M&A market that competes with our portfolio investment opportunities. Okay. Well, that's a great way to end with only seven seconds left. John, it's been a pleasure. Thank you for your time. Thank you.