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FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A.

Ecopetrol S.A. · Aug 5, 2014 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 1
    FINANCIAL & OPERATIONAL RESULTS 2nd Quarter 2014 Aug 5-2014 Guajira Field
  2. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 2
    Management Participants Javier Gutierrez Magda Manosalva CEO CFO Ecopetrol Ecopetrol Hector Manosalva Adriana Echeverri VP of Development and Production VP of Growth and Strategy Ecopetrol Ecopetrol Pedro Rosales Alberto…
  3. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 3
    Agenda 1. Highlights 2. Operational Update 3. Financials 4. Outlook for 3Q 2014 5. Q&A 4
  4. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 4
    Highlights Discovery in Rydberg well in the Gulf of Mexico (U.S.) Exploration Angola farm-in (Kwanza basin: blocks 38 and 39)* Subsidiaries production growth of 7.0% in 2Q 2014 vs 2Q 2013 JV with OXY for Steamflood Project in Teca…
  5. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 5
    Capex Jan Jun / 2014* Capex (US million) Allocation Key projects 3,468 Facilities in Llanos fields Production: 48% Development drilling campaign in Orinoquia Drilling: 14 wildcats, 7 appraisal and 6 1,670 Exploration: 17%…
  6. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 6
    Upstream: 2Q 2014 Update A3 Wells in 2Q/2014 Highlights: Under Drilled Successful Dry Evaluation Discovery in Rydberg well in the Gulf of Mexico (U.S.) Exploration Ecopetrol (Colombia) 4 0 0 4 Angola farm-in (Kwanza Basin: blocks…
  7. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 7
    Upstream: Main Projects in Llanos Basin Castilla Chichimene 20 drilling rigs by 4Q 2014 6 drilling rigs by 3Q 2014 and 8 rigs by 2Q 2015 Oil handling capacity of 170 mbod by 1Q 2015 Oil handling capacity of 80 mbod by 4Q 2014 and…
  8. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 8
    Upstream: Secondary Non Thermal Recovery in Producing Fields Schedule 2013 - 2020 Phase 1: Feasibility 20 15 2 GAS/WAG 12 3 9 1 CEOR 2 10 9 9 WF Non Thermal Projects 2013-2020 (pilots and implementation) 2 2013 2014 2015…
  9. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 9
    Upstream: 2014 Secondary Recovery Pilots BASIN MAIN FIELDS MILESTONES 2014 1Q 2Q 3Q 4Q Tisquirama - San Roque (WF) Mid Galan (WF) Magdalena Casabe (CEOR) Yarigui (CEOR) Santa Clara (WF) Brisas (WF) South Palo Grande (CEOR)…
  10. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 10
    Upstream: Chemical Enhanced Oil Recovery and Water Flooding Pilots San Francisco Field CEOR Pilot San Francisco Field CEOR Pilot Galan Field WF Pilot 11 WF = Water flooding, CEOR = Chemical enhanced oil recovery
  11. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 11
    Upstream: Tertiary - Thermal Recovery in Heavy Oil Fields Pilots Scheduled in Colombia: 2012 - 2020 Teca-Cocorna 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 onwards Chichimene Quifa Quifa Air Chichimene Injection Other…
  12. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 12
    Upstream: Teca-Cocorna Steamflood Project JV signed in June 2014, effective kickoff requires Variable Royalty and Exploitation Agreement ANH approval Phase I: Phase II: 3 Years from effective kickoff: 3Q 2014 20 years after…
  13. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 13
    Operational Update: Mid & Downstream Volumes Transported by Cenit (mbod) Crude Oil Products Works started and procurement of long lead 1,184 1,156 items for the Ocensa expansion (additional 135 Midstream 240 248 mbod by 2015) 944…
  14. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 14
    Drivers of the Income Statement (COP tn) 2Q 2014 - 2Q 2013 15.3 -1.3 0.2 0.005 15.0 0.7 Revenues -0.3 (-) 2Q-2013 Volumes Price FX Other Others Other 2Q-2014 7.6 -0.5 0.1 0.1 0.1 7.9 0.4 (-) Variable +0.3 costs 2Q-2013…
  15. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 15
    Key Financial Results (COP tn) 7.3 2Q 2014 - 2Q 2013 6.8 Ebitda -0.5 2Q-2013 2Q-2014 5.1 4.3 Pre-Tax Income -0.8 2Q-2013 2Q-2014 Income Tax 1.9 1.5 -0.4 2Q-2013 2Q-2014 3.3 2.8 Net Income -0.5 2Q-2013 2Q-2014…
  16. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 16
    Changes in Organizational Structure Organizational Structure: General Operations Directorate Regional Model: 4 Regions CEO Caribbean-Pacific Support Control areas Central areas New: Corporate Orinoquia General Operations DGO…
  17. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 17
    Outlook for 3Q 2014 Drilling campaign o Colombia: Exploration Ecopetrol S.A.: 3 wildcats, 3 appraisals and Orca offshore well spud Subsidiaries: 3 wildcats o International: 3 wildcats in the Gulf of Mexico Increased capacity in…
  18. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 18
    Q&A 19
  19. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 19
    Investor Relations Phone (+ 571) 234 5190 Email investorsecopetrol.com.co Website www.ecopetrol.com.co 20 20
  20. FINANCIAL AND OPERATIONAL RESULTS – Ecopetrol S.A. – slide 20
    Ecopetrol S.A. All rights reserved. The re production of this presentation is forbidden without the written authorization of Ecopetrol S.A.

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