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November 2014 Financial Results – Inpex Corp

Inpex Corp · Nov 10, 2014 · 26 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. November 2014 Financial Results – Inpex Corp – slide 1
    INPEX CORPORATION Financial Results for the Six Months ended September 30, 2014 November 10, 2014
  2. November 2014 Financial Results – Inpex Corp – slide 2
    Agenda 1. Corporate Overview Toshiaki Kitamura Representative Director, President & CEO 2. Financial Results for the six months ended September 30, 2014 Masahiro Murayama Director, Managing Executive Officer Head of…
  3. November 2014 Financial Results – Inpex Corp – slide 3
    Corporate Overview Toshiaki Kitamura Representative Director, President & CEO
  4. November 2014 Financial Results – Inpex Corp – slide 4
    FirstHalf FY 2014 Corporate Highlights (1/2) Halfyear Results Net sales 663.1billion (1.9% increase YoY) (Apr.2014 Sep.2014) Net income 88.7billion (10.8% increase YoY) Development works making steady progress In Apr. 2014,…
  5. November 2014 Financial Results – Inpex Corp – slide 5
    FirstHalf FY 2014 Corporate Highlights (2/2) Acquisition of new exploration blocks WA502P offshore Western Australia (May) WA504P offshore Western Australia (June) Progress of existing projects Acquired Additional Interest in…
  6. November 2014 Financial Results – Inpex Corp – slide 6
    Ichthys LNG Project (1/3) Proved reserves: Approx. 1,030 Fabrication of onshore LNG plant modules (Sep/2014, Thailand) million BOE (Based on INPEXs participating interest of 66.07%*) Production volume (expected): 8.4 million t/y…
  7. November 2014 Financial Results – Inpex Corp – slide 7
    Ichthys LNG Project (2/3) Offshore Facilities Image of FPSO Fabrication of Xmas tree Construction of FPSO (Sep/2014, UK) (Sep/2014, Korea) Major works for Offshore Facilities done since FID and plans for 2015 2012 2013 2014…
  8. November 2014 Financial Results – Inpex Corp – slide 8
    Ichthys LNG Project (3/3) Onshore Facilities Onshore LNG plant site in Darwin Jun/2009 Sep/2014 May/2012 Construction of power plant (Oct/2014, Darwin) Major works for Onshore Facilities done since FID and plans for 2015…
  9. November 2014 Financial Results – Inpex Corp – slide 9
    Abadi LNG Project Abadi Gas FieldUnder review for subsequent development with the huge potential reserves Initiatives for gas reserves and subsequent development 3 delineation wells and 1 exploratory well had been drilled from…
  10. November 2014 Financial Results – Inpex Corp – slide 10
    FirstHalf FY 2014 Topics (1/2) Projects coming on stream Production facility of Lucius field Location Lucius Field in U.S. Gulf of Mexico Umm Lulu Oil Field in ADMA In July 2014, acquired an additional participating block, Abu…
  11. November 2014 Financial Results – Inpex Corp – slide 11
    FirstHalf FY 2014 Topics (2/2) Discovery of resources from existing Exploration Projects and acquisition of new Projects Vietnam:Blocks 051b and 051c Australia:WA274P Brazil:BMES23 INPEXs share: 30%, Idemitsu: INPEXs share:20%,…
  12. November 2014 Financial Results – Inpex Corp – slide 12
    Net Production* (April September 2014) 500 403 395 400 5% 5% Main decreasing factor (MBOED) 41% Shutdown of the Van Gogh Oil Field due to 300 42% the work over operation of the FPSO ( 5MBOED) Decrease in production in…
  13. November 2014 Financial Results – Inpex Corp – slide 13
    Financial Results for the six months ended September 30, 2014 Masahiro Murayama Director, Managing Executive Officer Head of Finance & Accounting Division
  14. November 2014 Financial Results – Inpex Corp – slide 14
    Highlights of the Consolidated Financial Results for the six months ended September 30, 2014 Apr.Sep. 13 Apr.Sep. 14 Change %Change Net Sales (Billions of yen) 650.4 663.1 12.6 1.9% Crude Oil Sales 426.7 437.6 10.8 2.5% Natural Gas…
  15. November 2014 Financial Results – Inpex Corp – slide 15
    Crude Oil Sales Apr.Sep. 13 Apr.Sep. 14 Change %Change Net Sales (Billions of yen) 426.7 437.6 10.8 2.5% Sales volume (thousand bbl) 40,578 40,048 (530) (1.3%) Average unit price of overseas 106.21 105.75 (0.46) (0.4%)…
  16. November 2014 Financial Results – Inpex Corp – slide 16
    Natural Gas Sales (excluding LPG) Apr.Sep. 13 Apr.Sep. 14 Change %Change Net Sales (Billions of yen) 203.9 205.8 1.8 0.9% Sales volume (million cf) 159,671 152,056 (7,614) (4.8%) Average unit price of overseas production…
  17. November 2014 Financial Results – Inpex Corp – slide 17
    Analysis of Net Sales Increase Crude Oil (5.5) (Billions of Yen) Natural Gas (including LPG) (10.3) 700 23.8 4.9 (0.1) 600 (15.9) Crude Oil +17.1 500 Natural Gas (including LPG) +6.6 400 Crude Oil (0.7) 650.4 Natural Gas…
  18. November 2014 Financial Results – Inpex Corp – slide 18
    Statement of Income Crude Oil sales : 437.6 (Billions of Yen) Apr.Sep. 13 Apr.Sep. 14 Change %Change (Change) +10.8 Net Sales 650.4 663.1 12.6 1.9% Natural Gas sales* : 216.7 (Change) +1.9 Cost of Sales 249.2 257.8 8.5 3.4%…
  19. November 2014 Financial Results – Inpex Corp – slide 19
    Other Income/Expenses (Billions of Yen) Apr.Sep. 13 Apr.Sep. 14 Change %Change Other income 18.3 30.1 11.8 64.3% Interest income 8.7 5.3 (3.3) (38.7%) Dividend income 2.1 2.2 0.0 2.8% Equity in earnings of affiliates 7.9 7.9…
  20. November 2014 Financial Results – Inpex Corp – slide 20
    Analysis of Net Income Increase Main Factors; (Billions of Yen) Equity in earnings of affiliates +11.4 Foreign exchange gain +6.5 120 100 19.2 23.8 (0.1) (7.6) 80 (1.5) (8.5) (2.6) 4.9 (2.7) 60 (15.9) 88.7 40 80.0…
  21. November 2014 Financial Results – Inpex Corp – slide 21
    Balance Sheet (Billions of yen) Mar. 14 Sep. 14 Change %Change Available fund (Billions of yen) 1,350.4* Current assets 1,140.2 1,285.0 144.8 12.7% Breakdown Cash and deposits : 775.3 Tangible fixed assets 951.7 1,183.5 231.7 24.3%…
  22. November 2014 Financial Results – Inpex Corp – slide 22
    Statement of Cash Flows (Billions of Yen) Apr.Sep. 13 Apr.Sep. 14 Change %Change Income before income taxes and minority interests 350.6 368.4 17.8 5.1% Depreciation and amortization 23.9 25.6 1.6 7.0% Recovery of recoverable…
  23. November 2014 Financial Results – Inpex Corp – slide 23
    Differences between Consolidated Financial Forecasts and Actual Results for the six months ended September 30, 2014 Assumptions (August 6, 2014) 1st half (Previous Forecasts) Crude oil price (Brent) (US/bbl) 107.4 Exchange rate…
  24. November 2014 Financial Results – Inpex Corp – slide 24
    Revisions of Financial Forecasts for the year ending March 31, 2015 Assumptions (August 6, 2014) 1st half 2nd half Full year Crude oil price (Brent) (US/bbl) 107.4 105.0 106.2 Exchange rate (yen/US) 101.1 100.0 100.5 (November…
  25. November 2014 Financial Results – Inpex Corp – slide 25
    Net Income Sensitivities (1/2) [As of May 9, 2014] 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…
  26. November 2014 Financial Results – Inpex Corp – slide 26
    Net Income Sensitivities (2/2) Details on valuation for assets and liabilities denominated in the U.S. dollar The assets and liabilities denominated in the U.S. dollar are practically balanced in the following chart. However, some…

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