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FY14 Half Year Results – Beach Energy Limited

Beach Energy Limited · Feb 24, 2014 · 18 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. FY14 Half Year Results – Beach Energy Limited – slide 1
    FY14 Half year results 24 February 2014
  2. FY14 Half Year Results – Beach Energy Limited – slide 2
    Highlights Chris Jamieson General Manager Investor Relations 3
  3. FY14 Half Year Results – Beach Energy Limited – slide 3
    HY14 Highlights Financial Record sales revenue of 557 million, up 63% on the previous corresponding period (PCP) Record sales volumes of 5.6 MMboe, up 23% on the PCP Record underlying net profit after tax (NPAT) of 158 million, up…
  4. FY14 Half Year Results – Beach Energy Limited – slide 4
    HY14 Highlights Operations Half year production of 5.0 MMboe, up 25% on the PCP Western Flank oil flowlines at maximum available capacity for the period Nappamerri Trough Natural Gas (NTNG) Stage 1 exploration and appraisal…
  5. FY14 Half Year Results – Beach Energy Limited – slide 5
    Look forward Second half FY14 expectations A Brent oil price to remain strong Maintain Western Flank oil flowlines at maximum available capacity NTNG flow testing of five wells in PEL 218 Lake Tanganyika farm-out completed FY15…
  6. FY14 Half Year Results – Beach Energy Limited – slide 6
    Financials Kathryn Presser Chief Financial Officer 7
  7. FY14 Half Year Results – Beach Energy Limited – slide 7
    Financial results overview HY14 HY13 Change Sales volume (MMboe) 5.6 4.6 23% Sales revenue ( million) 557.2 342.9 63% Operating cash flow ( million) 274.5 172.2 59% NPAT ( million) 160.5 43.7 267% Underlying NPAT ( million) 158.1…
  8. FY14 Half Year Results – Beach Energy Limited – slide 8
    Sales revenue up 63% million Sales Revenue Comparison 600 12.6 557.2 44.6 62.7 Commodity Prices 500 FX Rates 94.4 Oil and Gas AUD/USD Liquids 400 Third Party HY 13 1.04 US/boe Purchases HY 13 113 342.9 HY 14 0.92 HY 14…
  9. FY14 Half Year Results – Beach Energy Limited – slide 9
    Record underlying NPAT Underlying NPAT Record HY14 underlying NPAT of 158 158 million, driven by: million Strong A Brent oil price Record oil sales volumes Oil development, exploration and appraisal success Oil flowline…
  10. FY14 Half Year Results – Beach Energy Limited – slide 10
    Comparison of underlying profit HY14 HY13 000 000 NPAT 160,478 43,693 Adjusted for: Unrealised hedging losses 4 281 Mark to market of convertible notes derivative 8,845 19,596 Asset sales (13,586) 25 Impairment of assets…
  11. FY14 Half Year Results – Beach Energy Limited – slide 11
    Sources and uses of funds Sources and uses of funds assumptions: 404 million cash balance (as at 31 December 2013) Secured 300 million debt facility Operating cash flow forecast includes minimal exploration success Chevron Stage 2…
  12. FY14 Half Year Results – Beach Energy Limited – slide 12
    Operations Neil Gibbins Chief Operating Officer 13
  13. FY14 Half Year Results – Beach Energy Limited – slide 13
    Production by area Change Area HY14 HY13 % Cooper/Eromanga 2.6 1.6 59% Basins Egypt1 0.03 0.06 (46%) Oil (MMbbl) Williston Basin2 - 0.0 N/A Total Oil 2.6 1.7 55% Sales gas and ethane (PJ) Cooper Basin 11.0 10.9 0% LPG…
  14. FY14 Half Year Results – Beach Energy Limited – slide 14
    Operating results Actual and forecast production Production for HY14 of 5.0 MMboe, 9.6 MMboe up 25% on the PCP to 9.2 MMboe Production mix: 47% gas and gas liquids, Gas* 53% oil 8.0 MMboe 2.4 MMboe to 2.1 MMboe 7.5 MMboe…
  15. FY14 Half Year Results – Beach Energy Limited – slide 15
    FY14 Revised capital expenditure guidance Potential reserves Seismic Capex additions Wells ( million) 2D km 3D km2 MMboe DEVELOPMENT Cooper Basin non-SACB JV 55 60 10 13 Cooper Basin SACB/SWQ JV 200 220 50 International 10 4…
  16. FY14 Half Year Results – Beach Energy Limited – slide 16
    PEL 218 NTNG update Holdfast-2 Snubbing unit operational, fishing operations successful Completion tubing currently being installed, with flow testing to follow Boston program Two fracture stimulation stages completed at Boston-1…
  17. FY14 Half Year Results – Beach Energy Limited – slide 17
    Key activities 18
  18. FY14 Half Year Results – Beach Energy Limited – slide 18
    Contact Information Head office 25 Conyngham Street Glenside SA 5065 Tel: +61 8 8338 2833 Fax: +61 8 8338 2336 Website: www.beachenergy.com.au Chris Jamieson General Manager Investor Relations Tel: +61 8 8338 2833 Mob: +61 8…

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