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Q4 2011 Earnings Call – Shell

Shell · Feb 2, 2012 · 48 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. Q4 2011 Earnings Call – Shell – slide 1
    ROYAL DUTCH SHELL 2011 RESULTS AND COMPANY UPDATE February y 2, 2012 1 Copyright of Royal Dutch Shell plc 2 February 2012
  2. Q4 2011 Earnings Call – Shell – slide 2
    ROYAL DUTCH SHELL PETER VOSER CHIEF EXECUTIVE OFFICER 2 Copyright of Royal Dutch Shell plc 2 February 2012
  3. Q4 2011 Earnings Call – Shell – slide 3
    SHELL Managing through extreme volatility Customer and Profitability & Updating our outlook partner focus performance Sustainability & Value added g y investment and portfolio Through-cycle p growth technology choices 4…
  4. Q4 2011 Earnings Call – Shell – slide 4
    CONTINUED FOCUS ON HSSE PERFORMANCE GOAL ZERO ON SAFETY injuries TRCF/million working hours million working hours 5 900 Focus on personall and d process safety f 4 800 3 700 Rigorous global standards 2 600 1 500 Industry…
  5. Q4 2011 Earnings Call – Shell – slide 5
    ENERGY INVESTMENT FUNDAMENTALS POSITIVE ROBUST LONGER TERM FUNDAMENTALS MANAGING SHORT-TERM VOLATILITY energy demand outlook in million boe/d /bbl 140 12 400 120 10 300 100 8 80 6 200 60 4 40 100 2 20 0 0 0 1980 1990…
  6. Q4 2011 Earnings Call – Shell – slide 6
    STRATEGY AND CAPITAL ALLOCATION STRATEGY CAPITAL INVESTMENT billion Upstream p 30 Profitable growth; price upside Exploration + resources plays UP 20 Downstream STREAM Optimize re-shaped portfolio Selective growth 10…
  7. Q4 2011 Earnings Call – Shell – slide 7
    IMPROVING OUR PERFORMANCE EARNINGS TOTAL SHAREHOLDER RETURN billion CCS % 30 60% 40% 10 20% 0% 2009 2010 2011 2006-2008 2009-2011 -10 -20% UPSTREAM CORPORATE DOWNSTREAM DIVESTMENTS/OTHER SHELL OTHER MAJORS CASH FLOW FROM…
  8. Q4 2011 Earnings Call – Shell – slide 8
    PORTFOLIO + PROJECT PERFORMANCE DELIVERING NEW PROJECTS North America: Canada: Qatar: Australia Nigeria: tight i h gas AOSP 1 AOSP-1 Q QatarGas4 G 4 LNG (W d id ) Pluto (Woodside): Pl t Gbaran Ubie Ph 1 Russia: Sakhalin II…
  9. Q4 2011 Earnings Call – Shell – slide 9
    ROYAL DUTCH SHELL SIMON HENRY CHIEF FINANCIAL OFFICER 10 Copyright of Royal Dutch Shell plc 2 February 2012
  10. Q4 2011 Earnings Call – Shell – slide 10
    DELIVERING OUR STRATEGY 2009 - 2011 2009+ PRIORITIES 2009-2011 DELIVERY Cost focus 3 PERFORMANCE FOCUS Corporate reorganization 3 Downstream portfolio reduction 3 14 project start-ups 3 GROWTH DELIVERY Enhanced free cash flow 3…
  11. Q4 2011 Earnings Call – Shell – slide 11
    Q4 2011 FINANCIAL HIGHLIGHTS CCS EARNINGS CCS EARNINGS Q4 2010 TO Q4 2011 billion billion 6 Q4 10 Q4 11 UPSTREAM 3.4 5.1 5 DOWNSTREAM (CCS) 0.5 (0.3) BUSINESS SEGMENTS TOTAL 3.9 4.8 4 CORPORATE & MINORITIES 0.2 0.0 CCS NET…
  12. Q4 2011 Earnings Call – Shell – slide 12
    EARNINGS AND PERFORMANCE 2009-2011 UPSTREAM PRODUCTION OIL & GAS REALISATIONS UPSTREAM EARNINGS million boe/d mtpa /barrel /mscf billion 3 20 20 100 6 2 4 10 10 50 1 2 0 0 0 0 0 2009 2010 2011 2009 2010 2011 2009 2010…
  13. Q4 2011 Earnings Call – Shell – slide 13
    RETURNS & CASHFLOW PERFORMANCE 2009-11 RETURNS CASHFLOW 2009-2011 billion billion SOURCES USES 250 40% 120 100 200 30% DOWNSTREAM 80 150 DOWNSTREAM 20% 60 100 40 UPSTREAM 10% UPSTREAM 50 20 0 0% 0 2007 2008 2009 2010…
  14. Q4 2011 Earnings Call – Shell – slide 14
    PERFORMANCE FOCUS 2009-2011 CONTINUOUS IMPROVEMENT+ CAPITAL EFFICIENCY DIVESTMENTS 2009-2011 ACQUISITIONS 2009-2011 17 15 billion billion UPSTREAM UPSTREAM DOWNSTREAM DOWNSTREAM R il Africa Retail, Af i Bi f l Brazil…
  15. Q4 2011 Earnings Call – Shell – slide 15
    GROWTH DELIVERY 2009-2011 CONVERTING RESOURCES TO PRODUCTION billion boe resources 35 Longer-term upside Carmon Creek Geronggong BC-10 Ph. 3 (Massa) 25 Prelude FLNG Tempa Rossa AOSP debottl. Fram NA tight gas / M lik i Malikai…
  16. Q4 2011 Earnings Call – Shell – slide 16
    GROWTH DELIVERY 2009-2011 DELIVERING OUR TARGETS PRODUCTION CASH FLOW million boe/day billion 50 50 2010-2011: 2010 2011 3.5 EXTERNAL / CHOICE 40 40 30 30 3.0 20 20 10 10 2.5 0 0 2009 2010 2011 2012 * 2009 2010 2011…
  17. Q4 2011 Earnings Call – Shell – slide 17
    ROYAL DUTCH SHELL UPDATING OUR PRIORITIES 18 Copyright of Royal Dutch Shell plc 2 February 2012
  18. Q4 2011 Earnings Call – Shell – slide 18
    2012+ PRIORITIES 12 billion boe resources on stream CONTINUOUS IMPROVEMENT D i new cashflow Drive hfl growth: th GROWTH DELIVERY +30-50 % CFFO 2012-15 versus 2008-11* Maturing 60 projects; 20 billion boe resources MATURE NEW…
  19. Q4 2011 Earnings Call – Shell – slide 19
    2012+ OUTLOOK CONTINUOUS IMPROVEMENT UNPLANNED DOWNTIME PROCESS EFFICIENCY OPPORTUNITIES % Offer to cash 9 Inventoryy management g 6 Well and reservoir management Materials management 3 Asset maintenance and integrity CHEMICALS…
  20. Q4 2011 Earnings Call – Shell – slide 20
    ROYAL DUTCH SHELL 2012+ GROWTH PROJECTS 21 Copyright of Royal Dutch Shell plc 2 February 2012
  21. Q4 2011 Earnings Call – Shell – slide 21
    GROWTH DELIVERY 2012+ KEY PROJECTS UNDER CONSTRUCTION Schiehallion Redevelopment Clair Ph2 AOSP Debottlenecking Corrib Kashagan Ph1 North America tight gas Eagle Ford Port Arthur Majnoon FCP Mars B UAE Cardamom Amal Steam…
  22. Q4 2011 Earnings Call – Shell – slide 22
    GROWTH DELIVERY 2012+ MAINTAINING LNG LEADERSHIP AUSTRALIA INDONESIA: 2011 PROGRESS SHELL GLOBAL LNG CAPACITY GROWTH Abadi entry mtpa Inpex 60% Shell 30% EMPI 10% 40.0 Wheatstone Wh 2012 FEED Pluto T1 & Prelude (Woodside) Abadi…
  23. Q4 2011 Earnings Call – Shell – slide 23
    GROWTH DELIVERY 2012+ REGAINING MOMENTUM IN GULF OF MEXICO Vito Appomattox 100 100 kboe/d potential 100 100 kboe/d hub potential 200 million boe resources Appraisal drilling underway Shell 55% (operator) 250 million boe resources…
  24. Q4 2011 Earnings Call – Shell – slide 24
    GROWTH DELIVERY 2012+ INVESTMENT IN UPSTREAM HEARTLANDS UK: ATLANTIC MARGIN AUSTRALIA: NWS LNG JV MALAYSIA 8 W 6 4 2 0 2E 0 50 S c a le km F a r o e Is la n d s F aro e C o n tine n ta l S h e lf W est of S h e tla tl ndd S…
  25. Q4 2011 Earnings Call – Shell – slide 25
    PRODUCTION OUTLOOK PROJECTS UNDER CONSTRUCTION GROUP PRODUCTION OUTLOOK Region Theme 100% 100% 90% 80% Gorgon LNG, Australia 75% 70% 60% 50% 50% 40% Mars-B, USA 30% 25% 20% 10% 0% 0% 2011 2017 2011 2017 AOSP…
  26. Q4 2011 Earnings Call – Shell – slide 26
    ROYAL DUTCH SHELL MATURING NEW GROWTH OPTIONS 27 Copyright of Royal Dutch Shell plc 2 February 2012
  27. Q4 2011 Earnings Call – Shell – slide 27
    MATURING NEW GROWTH OPTIONS DOWNSTREAM: SELECTIVE GROWTH 2012 CAPEX billion 6 UK Retail LNG to transport Lubes Russia Rhineland Connect 4 Gas-to- chemicals Port Arthur China Retail + Lubes 2 Qatar China refining chemicals and…
  28. Q4 2011 Earnings Call – Shell – slide 28
    MATURING NEW GROWTH OPTIONS 2011 EXPLORATION + BUSINESS DEVELOPMENT 2011 EXPLORATION & ACQUISITIONS RESOURCES MATURATION / POTENTIAL billion boe 4 Marcellus Cl i Clair Eagle E l FFord d Groundbirch Abadi Iraq Liquids-rich…
  29. Q4 2011 Earnings Call – Shell – slide 29
    MATURING NEW GROWTH OPTIONS 2011 DRILLING SUCCESS FRENCH GUIANA NEW PLAY OPENER WEST AUSTRALIA GAS FOR LNG FFrench hGGuiana i Guyane Maritime Shell 45% Zaedyus (GM-ES-1) Satyr-3 Acme West 1&2 NWS LNG y Guyana Stabroek Shell…
  30. Q4 2011 Earnings Call – Shell – slide 30
    MATURING NEW GROWTH OPTIONS EXPLORATION: CONSISTENT DELIVERY OF NEW RESOURCES DISCOVERED RESOURCES POTENTIAL billion boe 3 2 Cardamom Deep Appomattox 1 Amal SE West Boreas Vito S h Deimos South D i Z d Zaedyus Tologbene G…
  31. Q4 2011 Earnings Call – Shell – slide 31
    MATURING NEW GROWTH OPTIONS STEPPING UP 2012 EXPLORATION PACE EXPLORATION SPEND 2012 EXPLORATION SPEND Alaska N. America N. America liquids- Kazakhstan (1) tight gas rich shales Saudi Arabia (1) China Gulf of Mexico (5) Fr…
  32. Q4 2011 Earnings Call – Shell – slide 32
    MATURING NEW GROWTH OPTIONS BUILDING WORLD-WIDE TIGHT GAS + LIQUIDS-RICH SHALES PORTFOLIO Canol Groundbirch Montney Deep Basin Germany Foothills Bakken Ukraine Pinedale Utica Niobrara Marcellus Turkey Wells Manufacturing JV with…
  33. Q4 2011 Earnings Call – Shell – slide 33
    MATURING NEW GROWTH OPTIONS LIQUIDS-RICH SHALES AND TIGHT GAS OUTLOOK 2012 PRIORITIES + OUTLOOK GLOBAL PRODUCTION POTENTIAL kboe/day bcfe/day 2.0 300 Annual investment decisions + flexibilityy 15 1.5 200 1.0 Focus on lowest cost…
  34. Q4 2011 Earnings Call – Shell – slide 34
    MATURING NEW GROWTH OPTIONS NORTH AMERICA GAS VALUE CHAINS LEVERAGE SHELL INTEGRATION KNOW-HOW EXAMPLE: COMMERCIALISING LNG FOR TRANSPORT Fort St John Fort Mc Murray Grande Prairie G into Gas i t oilil pricing i i opportunity t…
  35. Q4 2011 Earnings Call – Shell – slide 35
    MATURING NEW GROWTH OPTIONS IRAQ OIL & GAS WEST QURNA 1 + MAJNOON BASRAH GAS COMPANY (BGC) Majnoon West Qurna1 South Gas Processing Plants BASRAH Rumaila Zubair South Gas LPG Terminal B Barge unloading l di pipe i racks…
  36. Q4 2011 Earnings Call – Shell – slide 36
    MATURING NEXT GROWTH OPTIONS MATURING NEW PROJECTS 2012+ Long-term growth and investment TIGHT GAS N. AMERICA CARMON CREEK - CANADA Options to flex annual spending with macro Capex and growth outcomes Investment decisions driven…
  37. Q4 2011 Earnings Call – Shell – slide 37
    ROYAL DUTCH SHELL FINANCIAL FRAMEWORK 38 Copyright of Royal Dutch Shell plc 2 February 2012
  38. Q4 2011 Earnings Call – Shell – slide 38
    CAPITAL INVESTMENT STRONG PROJECT FLOW DRIVES INVESTMENT GROWTH capital investment billion Thematic Schiehallion Redevelopment R d l t AOSP Debottlenecking EXPLORATION 30 Clair Ph2 LNG for transport UK Retail HEAVY OIL & EOR…
  39. Q4 2011 Earnings Call – Shell – slide 39
    GROWTH DELIVERY 2012+ UPDATING OUR GROWTH OUTLOOK OIL & GAS PRODUCTION + OUTCOMES SUSTAINED CASH FLOW GROWTH million boe/day billion 4.0 200 200 100/bbl 80/bbl 3.5 150 150 87/bbl Brent 100 100 30 3.0 50 50 2.5 0 0…
  40. Q4 2011 Earnings Call – Shell – slide 40
    UPSTREAM GROWTH OUTLOOK UPSTREAM REGIONAL CASH FLOW SCENARIO PRODUCTION POTENTIAL billion billion boe Middle East, 2008 -2011 2011 Africa, f CIS 2012 2015 Americas POTENTIAL 3.5 4.0 4.5 5.0 5.5 Europe TOTAL…
  41. Q4 2011 Earnings Call – Shell – slide 41
    FINANCIAL FRAMEWORK CASH PERFORMANCE +30 50% CFFO 2012 +30-50% 2012-1515 versus 2008-11 Growth free cash flow CFFO drives investment + payout PAY-OUT INVESTMENT Dividend linked to business results 30 30 billi billion…
  42. Q4 2011 Earnings Call – Shell – slide 42
    ROYAL DUTCH SHELL SUMMARY 43 Copyright of Royal Dutch Shell plc 2 February 2012
  43. Q4 2011 Earnings Call – Shell – slide 43
    SUMMARY 2012+ PRIORITIES 12 billion boe resources on stream CONTINUOUS IMPROVEMENT D i new cashflow Drive hfl growth: th GROWTH DELIVERY +30-50 % CFFO 2012-15 versus 2008-11* Maturing 60 projects; 20 billion boe resources…
  44. Q4 2011 Earnings Call – Shell – slide 44
    ROYAL DUTCH SHELL Q&A 45 Copyright of Royal Dutch Shell plc 2 February 2012
  45. Q4 2011 Earnings Call – Shell – slide 45
    KEY PROJECTS UNDER CONSTRUCTION Phase Project Country Shell share Peak pro- LNG (100%) Products Theme Shell (direct & indirect) duction 100% capacity operated % kboe/d mtpa 2012-13 AMAL STEAM OMAN 34 20 AOSP DEBOTTLENECKING CANADA 60…
  46. Q4 2011 Earnings Call – Shell – slide 46
    STRONG PORTFOLIO OF PRE-FID UPSTREAM OPTIONS POTENTIAL 2014-2020 START-UPS Phase Project Country Shell share Peak pro- LNG (100%) Theme Shell (direct & indirect) duction 100% capacity operated % kboe/d mtpa CONCEPT ABADI FLNG PHASE 1…
  47. Q4 2011 Earnings Call – Shell – slide 47
    2009-2011 DRILLING PERFORMANCE Start up Well name Country Shell Share Location Water depth Oil/Gas Shell % Operated 2009 Achilles-1 Australia 25% Offshore 1150m G Cardamon Deep US, GoM 100% Offshore 870m OG Concerto Australia 100%…
  48. Q4 2011 Earnings Call – Shell – slide 48
    PROJECT MANAGEMENT + PERFORMANCE PROJECT STATUS Construction time elapsed % Harweel Pluto LNG T1 (Woodside) Port Arthur refinery expansion Caesar Tonga Phase 1 Kashagan phase 1 North Rankin 2 Amal Steam Bonga NW Gumusut-Kakap…

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