Good afternoon. Our next presenter is an old friend, John Hess, the longtime CEO of Hess Corporation. Similar to the rest of the industry, Hess has evolved and transformed over the past decade, and today it offers one of the industry's most visible and profitable growth profiles over the next decade, driven by its highly lucrative and huge Guyana position. We are excited to have John share his insights with us today. John? Thank you, Paul, and Scotiabank for hosting the conference. First of all, to all of you that are participating, I hope that all of you and your families are well. We just have the normal forward-looking statements and the normal disclosures as well. Now about our company. We believe that the Hess portfolio is uniquely positioned to deliver long-term value to our shareholders with multiple phases of Guyana development coming online and our robust inventory of high return drilling locations in the Bakken. Hess can deliver a highly profitable production growth of more than 10% annually over the next five years. Hess's ability to deliver high return resource growth is industry leading and quite distinguishing. As our resource base expands, we will steadily move down the cost curve. Our Guyana developments have fully loaded breakevens of between $25-$35 per barrel price. In addition, by 2026, we forecast that our cash unit costs will decline by approximately 25% to approximately $9 per BOE, and that our portfolio will achieve a breakeven of approximately $45 per barrel price. In terms of cash flow growth, we have an industry-leading rate of change story and an industry-leading durability story, some of which Paul was just referring to. Between 2021 and 2026, our cash flow is forecasted to provide compound growth of approximately 25% annually based upon a Brent price of $65 per barrel. More than 2 times as fast as our production growth. By 2026, we also forecast that our portfolio will generate free cash flow growth of approximately $3 billion. Our balance sheet will also continue to strengthen in the coming years, with gross debt to EBITDAX expected to decline from under 2x in 2022 to under 1x in 2024. In March 2022, we increased our regular dividend by 50% and are positioned to deliver further increases in cash returns to shareholders in the coming years through both regular 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 development in Guyana. Between 2021 and 2026, we forecast that our net production will grow at a compound annual growth rate of more than 10%, 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 $65 per barrel Brent price. By 2026, we forecast that our portfolio will generate free cash flow of approximately $3 billion, have a debt to EBITDAX ratio of well under 1, and a Brent breakeven oil price of approximately $45 per barrel. As our portfolio becomes increasingly cash flow positive, you have our commitment that we will prioritize significant increases in our 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. Secondly, to have a strong cash position and balance sheet to ensure that we can fund our world-class investment opportunities in Guyana. Thirdly, to maintain our investment grade credit rating. At December 31, we had $2.7 billion of cash on the balance sheet. To manage oil price volatility, we have in place put options that hedge 150,000 barrels a day of our oil production for 2022. 90,000 barrels a day at $60 WTI and 60,000 barrels a day at $65 Brent. In light of the recent high volatility and liquidity risk in the oil markets, last week we removed the WTI $100 and Brent $105 call options that we previously had in place for a cost of approximately $325 million. Hess is now positioned to benefit on the upside while remaining protected on the downside. With the successful start of Liza Phase Two in February, which at capacity will generate approximately $1 billion of operating cash flow annually net to Hess at $60 per barrel Brent, we paid the remaining $500 million of our $1 billion term loan and increased our regular dividend by 50%. Looking forward, as our free cash flow generation steadily increases, we commit to return up to 75% of our annual free cash flow to shareholders. To further growth in our regular dividend and acceleration of our 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 the balance sheet through increase in our cash position or further debt reduction. We plan to increase our regular dividend to a level that is attractive to income-oriented investors, but sustainable in a low oil price environment. As I said earlier, on March 1, 2022, we announced 50% increase to our regular dividend, and we plan to further grow our regular dividend in the future. Also, as our portfolio becomes increasingly free cash flow positive in coming years, share repurchases will accelerate and represent a growing proportion of our return of capital. In terms of our balance sheet, first, we repaid $500 million of debt in February 2022. We plan to repay $300 million of debt at maturity in 2024. We plan to maintain greater than $1 billion of cash on the balance sheet. Net debt to EBITDAX is expected to be less than 1x in 2024 at a $65 per barrel Brent price. Now let's talk about the macro. The International Energy Agency's World Energy Outlook provides several scenarios for the energy transition. Under all of these scenarios, and that is what they are, not forecasts, industry will need to invest more in new oil and gas projects than we are currently, even under the net zero scenario, to meet forecasted system demands. As these events, the tragic events in Ukraine unfold, energy security is even more prominent to having an affordable, just, and secure energy transition. The energy transition will take time, cost a lot of money, and require major technological breakthroughs in the future. 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 will position us well for the future. As we continue to execute our company's strategy, we're guided by our long-standing commitment to sustainability. We recognize climate change is 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 TCFD. In 2020, we significantly surpassed our five-year targets for Scope One and Scope 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 Scope Two greenhouse gas emissions intensity by 50% and methane emissions intensity by 50% versus 2017. We have also committed to achieve zero routine flaring on our operated assets by the end of 2025. In addition, we're investing in technological and scientific advances designed to reduce, capture, and store carbon emissions, including groundbreaking work being conducted by the Salk Institute. Our board of directors is actively engaged in overseeing Hess's sustainability practices, working alongside senior management. In terms of safety, since early 2020, our 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 and inclusion in our workplace. Through social investment programs, we can make a positive and lasting impact on the communities where we operate. We have published an annual sustainability report for the past 24 years and are proud to be recognized as an industry leader in most of the major sustainability indices, including a level 4 rating from the Transition Pathway Initiative, our AAA MSCI ESG rating, and being a member of the Dow Jones Sustainability Index North America for 12 consecutive years. Now let's go to Guyana. Hess has a 30% interest in the 6.6 million-acre ExxonMobil-operated Stabroek Block. We have now made 23 significant discoveries since 2015. The estimate for gross discovered resources on the block currently stands at greater than 10 billion barrels of oil equivalent, and we continue to see multi-billion barrels of future exploration potential remain. Liza Phase One is producing at its nameplate capacity of 110,000 barrels of oil per day, and is currently in a planned turnaround this month, which includes production optimization work designed to increase the vessel's oil production capacity. The Liza Unity FPSO for the Liza Phase Two development, which has a capacity of 220,000 barrels of oil per day, achieved first oil in early 2022 and is expected to reach capacity during the third quarter. The Payara development, which will also have a capacity of 220,000 barrels of oil per day, is on track to achieve first oil in 2024. Subject to government approvals, our fourth development at Yellowtail is planned to start up in 2025 at a gross capacity of 250,000 barrels of oil per day. We continue to see the potential for at least six FPSOs to produce greater than 1,000,000 barrels of oil per day in 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 in the past decade. The reservoir is ranked among the highest quality in the world, with high porosity and permeability, and are expected to deliver very high recovery factors and production rates. Also, since the producing horizons are relatively shallow and there is no salt, wells can be drilled faster and at lower cost than those in other deepwater basins in the world. Finally, ExxonMobil, as the operator, is one of the most experienced project managers in the world, which significantly reduces execution risk. Guyana is truly a transformational investment opportunity for Hess and one of the best investments for the industry. As I mentioned, in Guyana, where we've discovered greater than 10 billion barrels gross, barrels of oil equivalent of recoverable resource, and are positioned to grow gross 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 4 FPSOs. The Wood Mackenzie plot on the lower right compares their analysis of the growth of the Liza complex to other major deepwater provinces in the world. The production growth ramp at the Stabroek complex is the best in the industry and will create tremendous value for Hess shareholders for many years to come. This slide highlights our 3 sanctioned developments in Guyana. Liza Phase One and Two and Payara have a Brent breakeven oil price of between $25 and $35 per barrel, which is world-class. You see our fourth Yellowtail development coming online in 2025, our fifth development in 2026, and a sixth in 2027. In total, you see the potential for up to 10 FPSOs ultimately to develop the discovered resource to date on the Stabroek Block. This is an interesting slide that uses Wood Mackenzie data to highlight how well Guyana is positioned relative to other areas. The Y-axis is Scope 1 and 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. This is where you want to invest. The chart at the right also uses Wood Mackenzie data and shows Guyana production growth through 2025 is expected to exceed estimated growth from Mozambique, Iraq, and Brazil combined. Let us now move to Southeast Asia, where Hess is an established operator with two very strong long-life gas assets, the Joint Development Area, or JDA, and the North Malay Basin. These lower risk, low cost assets are expected to deliver net production of approximately 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 protection in periods of low oil prices. Now let's talk about the deepwater Gulf of Mexico, where Hess has a well-established position with key infrastructure hubs. Net production in 2021 is expected to average 30,000-35,000 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, the asset is also a platform to growth and plays to our top quartile operating capabilities. After a two-year drilling hiatus, in 2022, we plan to resume a focused drilling program targeting both lower risk, high return tieback opportunities and larger top-class development opportunities. In February, we spud the Huron exploration well, where we have 40% on Green Canyon Block 69. This is a large Miocene prospect and our partners are Shell and Chevron. Later this year, we will also spud the Llano-6 development well, which will be a tieback to Shell's Auger facility. Now turning to the Bakken, our largest operated asset, where we have at least a 15-year drilling inventory. We have an industry-leading position with approximately 460,000 net acres in the Torquay Formation. We plan to operate a 3-rig program in 2022, which will allow us to sustain free cash flow generation, lower our unit cash costs, and further optimize our infrastructure. Should oil prices remain firm, we will give strong consideration to adding a fourth rig later this year. Approximately 2,100 of our 2,300 future drilling locations can generate strong financial returns at $60 per barrel WTI and represent about 70 rig years of activity. In 2022, we plan to bring online about 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, IP 180 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 $3.9 billion. We maintain operational control and own 43.5% of Hess Midstream, currently valued net to Hess at $3.2 billion. In summary, with the start-up of Liza Phase Two, all of our major assets will become free cash flow positive this year, and we are committed to being an industry leader in both ESG performance and disclosures. In Guyana, we now have gross discovered resources of greater than 10 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. In the first quarter, we've repaid the remaining $500 million of our $1 billion term loan and raised the dividend by 50%. As the portfolio becomes increasingly free cash flow positive in the coming years, we commit to prioritizing the return of capital to our shareholders through further growing our dividend and accelerating our share repurchases. Thank you. Paul, we've got some time. I'm happy to do questions. If this is it, at least we finished on time. All right. Thank you, John. Really appreciate it. I think we have time for one or two questions. If you don't mind, I think in your presentation you clearly have a commitment to increase the cash return to shareholders, and you said up to 78% of the free cash flow. Can you elaborate that, how to determine what percentage of the free cash flow for the cash return you mentioned earlier? I mean, what are your considerations? Yeah. Look, we obviously wanna continue to keep a strong cash position and balance sheet to fund our high return projects. Our reinvestment returns are some of the highest in the business. In terms of capital allocation, that will continue to command a priority. As our cash flow compounds both industry-leading growth, you know, we increased the dividend by 50%. We will continue to grow the dividend, but a greater proportion in going forward, to answer your question, the cash returns to shareholders will be share repurchases. Yeah. Excellent. I think clearly that the company's growth engine is Guyana. For the rest of your portfolio, whether it's Bakken, Gulf of Mexico, JDA, and North Malay, should we be rather looking at that just primarily for cash harvesting and returning to maintain a steady production profile in the coming, let's say, call it the next 5-10 years? Or have you intended to let them decline? No, they are being run to be cash engines for the company. But we'll reinvest where we have attractive returns there to basically compound that cash flow growth. One example is the Bakken. The Bakken will go to 200,000 barrels a day of oil equivalent. That's an output. It's not a target. That happens whether you're in a 3-rig case or in a 4-rig case. It's just how you accelerate it, and then the Bakken plateaus. That's gonna be a major cash engine for the company. As it plateaus, assuming it's $50 WTI, it'll generate free cash of about $1 billion a year. The Gulf of Mexico is a cash engine, but it has some reinvestment opportunities to grow further if it can, you know, compete with capital versus the Bakken as well as the Guyana. At the end of the day, it will remain a cash engine. Obviously, our position in Malaysia is just a steady cash annuity. I think we have about one minute left. Maybe I can just ask in the middle of the third quarter M&A. Clearly Hess doesn't need to do an M&A given your Guyana growth position. On the other hand, that the company valuation rightfully trades at a premium compared to the peers. John, do you think that the company should utilize or will utilize your premium currency and as a consolidator in the industry? Look, Paul, we always look to strengthen our hands, but it's not about getting bigger, it's getting better. Anything we've seen to date in the M&A market erodes our returns and erodes our free cash flow generation. If we were to do anything, it would have to basically strengthen it, and we don't see anything that strengthens the hand. We're much better off executing the investment opportunities we have, some of the best in the business, to compound our cash flow growth 25% a year for the next five years. That's a rate of change story and a durability story that nobody else has. We're the only company that can invest at high returns to grow intrinsic value, while at the same time compounding cash flow growth and free cash flow growth that increases cash returns through dividend increases and share repurchases. Nothing in the M&A market makes our hands a better hand. Excellent. I think your shareholders love that answer. Thank you. Really appreciate the time. Paul, thanks a lot for giving us the opportunity. Take care. Thank you.