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May 2014 Financial Results – Inpex Corp

Inpex Corp · May 12, 2014 · 33 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. May 2014 Financial Results – Inpex Corp – slide 1
    INPEX CORPORATION Financial Results for the year ended March 31, 2014 May 12, 2014 0
  2. May 2014 Financial Results – Inpex Corp – slide 2
    Agenda Corporate Overview Outlook Financial Results for the year ended March 31, 2014 Consolidated Financial Forecasts for the year ending March 31, 2015 1
  3. May 2014 Financial Results – Inpex Corp – slide 3
    Corporate Overview Toshiaki Kitamura Representative Director, President & CEO
  4. May 2014 Financial Results – Inpex Corp – slide 4
    FY 2014/03 Corporate Highlights (1/3) Proved Increased by 16% YoY to 2.53 billion BOE Reserves Net Production 409 thousand BOED Financial Results Net sales 1,334.6 billion (9.7% increase YoY) (Mar.2014) Net profit 183.6 billion…
  5. May 2014 Financial Results – Inpex Corp – slide 5
    FY 2014/03 Corporate Highlights (2/3) Continuous Enhancement of E&P Activities (Medium to Long Term Vision of INPEXGrowth Target No.1) Acquisition of New Exploration Blocks JPDA11106 contract area in the Joint Petroleum Development…
  6. May 2014 Financial Results – Inpex Corp – slide 6
    FY 2014/03 Corporate Highlights (3/3) Strengthening Gas Supply Chain (Medium to Long Term Vision of INPEX Growth Target No.2) Naoetsu LNG Terminal brought on stream Secured New Shipping Vessels for Ichthys LNG Project Completed…
  7. May 2014 Financial Results – Inpex Corp – slide 7
    Ichthys LNG Project (1/3) Proved reserves: Approx. 1,030 million BOE (Based on INPEXs Participating interest of 66.07%*) Production volume (expected): 8.4 million t/y of LNG Approx. 1.6 million t/y of LPG Approx. 100,000 bbl/d…
  8. May 2014 Financial Results – Inpex Corp – slide 8
    Ichthys LNG Project (2/3) Offshore Facilities Construction of FPSO Hull (Feb. 2014 in Construction of Riser Support Korea) Structure (Jan. 2014 in Indonesia) Major works for Offshore Facilities done since FID and plans for 2014…
  9. May 2014 Financial Results – Inpex Corp – slide 9
    Ichthys LNG Project (3/3) Onshore Facilities Birdseye view of Onshore LNG Plant Site in Darwin Jun. 2009 Feb. 2014 Construction of LNG storage tanks in Darwin May 2012 Major works for Onshore Facilities done since FID and…
  10. May 2014 Financial Results – Inpex Corp – slide 10
    Abadi LNG Project Comparison Abadi structure and Kanto region SURF (Subsea Production Facilities) FEED Massive potential reserves (Front End Engineering Design) work commenced in November 2012 and completed in January 2014 FLNG…
  11. May 2014 Financial Results – Inpex Corp – slide 11
    Progress in Enhancing Gas Supply Chain Naoetsu LNG Terminal Indigenous gas source Startup of Naoetsu LNG Terminal Naoetsu LNG Terminal brought on stream in December 2013. Planed to receive LNG cargoes from Ichthys and…
  12. May 2014 Financial Results – Inpex Corp – slide 12
    Topics for FY 2014/03 Upper Zakum Oil Field in ADMA Block Participating Interest: INPEX(JODCO) 12%, Abu Dhabi National Oil Company 60%, Exxon Mobil 28% Production Facility (artificial island) Extension of the Concession…
  13. May 2014 Financial Results – Inpex Corp – slide 13
    Net Production* (FY 2014/03) 500 Main increase factor 408 409 Increase in production in Middle East / 400 4% 5% Africa Region due mainly to new lineup of the Angora Block 14 and expansion of the ADMA Block (+9 thousand BOED)…
  14. May 2014 Financial Results – Inpex Corp – slide 14
    Proved + Probable Reserves* and Reserves Indices 5,000 Reserves Life Finding & Development Cost per BOE (3year average 4,477 (RP Ratio**) 4,500 4,255 20.0 4,404 4,095 4,000 11.2 11.7 3,500 1,945 US/boe 1,823 10.0 1,907…
  15. May 2014 Financial Results – Inpex Corp – slide 15
    Outlook Toshiaki Kitamura Representative Director, President & CEO
  16. May 2014 Financial Results – Inpex Corp – slide 16
    Investment Plan By Activity Comparison with Plan Released FY 2013/03 (Billions of Yen) (Millions of US) (Billions of Yen) 1,125.0 (Millions of US ) 1,200 11,910 12,000 (11,250) 11,250 1,100 962.9 11,000 (9,612) 9,612 1,000 9,670…
  17. May 2014 Financial Results – Inpex Corp – slide 17
    Net Production* Volume Projection Target for the 2020s Following the Ichthys 1 million BOED startup etc., the total 1,000 production from existing projects will rise to 900 approximately 700 thousand BOED 800 600 700…
  18. May 2014 Financial Results – Inpex Corp – slide 18
    FY 2015/03 Outlook Investment Plan Net Production Project Development: Target production: Ichthys LNG Project 411 thousand BOED Start laying GEP 990 billion Yen Spud production wells Exploration: (2 thousand BOED Commence to…
  19. May 2014 Financial Results – Inpex Corp – slide 19
    Financial Results for the year ended March 31, 2014 Masahiro Murayama Director, Managing Executive Officer Head of Finance & Accounting Division
  20. May 2014 Financial Results – Inpex Corp – slide 20
    Highlights of the Consolidated Financial Results for the year ended March 31, 2014 Mar. 13 Mar. 14 Change %Change Net Sales (Billions of yen) 1,216.5 1,334.6 118.0 9.7% Crude Oil Sales 788.1 858.7 70.6 9.0% Natural Gas Sales…
  21. May 2014 Financial Results – Inpex Corp – slide 21
    Crude Oil Sales Mar. 13 Mar. 14 Change %Change Net Sales (Billions of yen) 788.1 858.7 70.6 9.0% Sales volume (thousand bbl) 86,189 79,171 (7,018) (8.1%) Average unit price of overseas 110.11 107.78 (2.33) (2.1%) production…
  22. May 2014 Financial Results – Inpex Corp – slide 22
    Natural Gas Sales (excluding LPG) Mar. 13 Mar. 14 Change %Change Net Sales (Billions of yen) 370.5 431.1 60.6 16.4% Sales volume (million cf) 318,792 327,117 8,325 2.6% Average unit price of overseas 13.43 13.09 (0.34) (2.5%)…
  23. May 2014 Financial Results – Inpex Corp – slide 23
    Statement of Income Decrease in Sales Volume : (60.4) (Billions of Yen) Mar. 13 Mar. 14 Change %Change Decrease in Unit Price : (23.2) Net Sales 1,216.5 1,334.6 118.0 9.7% Exchange rate (Depreciation of Yen) : +211.9 Cost of Sales…
  24. May 2014 Financial Results – Inpex Corp – slide 24
    Other Income/Expenses (Billions of Yen) Mar. 13 Mar. 14 Change %Change Other income 98.6 50.7 (47.9) (48.6%) Interest income 8.7 17.4 8.7 99.9% Dividend income 7.8 9.2 1.3 17.8% Gain on sales of marketable securities 0.0 10.3 10.2…
  25. May 2014 Financial Results – Inpex Corp – slide 25
    Analysis of Net Profit Increase Main Factors; (Billions of Yen) Decrease in gain on transfer of the Ichthys equity interest, etc. (75.6) (12: Gains on transfer of equity interest and sales of investment securities) 350 Foreign…
  26. May 2014 Financial Results – Inpex Corp – slide 26
    Balance Sheet (Billions of yen) Mar. 13 Mar. 14 Change %Change Available fund (Billions of yen) 1,466.1* Current assets 1,106.5 1,140.2 33.7 3.0% Breakdown Cash and deposits : 650.1 Tangible fixed assets 584.5 951.7 367.2 62.8%…
  27. May 2014 Financial Results – Inpex Corp – slide 27
    Statement of Cash Flows (Billions of Yen) Mar. 13 Mar. 14 Change %Change Income before income taxes and minority interests 718.1 750.0 31.9 4.4% Depreciation and amortization 51.9 50.9 (0.9) (1.9%) Recovery of recoverable accounts…
  28. May 2014 Financial Results – Inpex Corp – slide 28
    Financial Indices Net Debt/Total Capital Employed (Net)* Equity Ratio** Mar.13 Mar.14 (43.9%) (31.9%) 68.6% 69.1% Mar.13 Mar.14 D/E Ratio*** * Net Debt/Total Capital Employed (Net) = (Interestbearing debt Cash and…
  29. May 2014 Financial Results – Inpex Corp – slide 29
    Consolidated Financial Forecasts for the year ending March 31, 2015 Masahiro Murayama Director, Managing Executive Officer Head of Finance & Accounting Division
  30. May 2014 Financial Results – Inpex Corp – slide 30
    Consolidated Financial Forecasts for the year ending March 31, 2015 1st Half 2nd Half Full year Brent oil price (/bbl) 105.0 105.0 105.0 Average exchange rate (/) 100.0 100.0 100.0 Mar. 14 Mar. 15 Full Year (Actual) (Forecasts )…
  31. May 2014 Financial Results – Inpex Corp – slide 31
    Sales and Investment Plan for the year ending March 31, 2015 Mar. 14 Mar. 15 (Actual) (Forecasts ) Change % Change Crude oil (thousand bbl)1 79,171 82,093 2,922 3.7% Sales Volume Natural gas (million cf)2 327,117 323,555…
  32. May 2014 Financial Results – Inpex Corp – slide 32
    Net Income Sensitivities (1/2) Sensitivities of crude oil price and foreign exchange fluctuation on consolidated net income for the year ending March 31, 2015 (Note 1) (The impact of Exchange Rate is shown in more detail below.)…
  33. May 2014 Financial Results – Inpex Corp – slide 33
    Net Income Sensitivities (2/2) Details on valuation for assets and liabilities denominated in the U.S. dollar Exchange gain/loss is booked in the Exchange gain/loss directly affects net assets Statements of Income. in the…

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