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Q3 2014 EARNINGS CALL – Ithaca Energy Inc.

Ithaca Energy Inc. · Nov 13, 2014 · 10 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. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 1
    Q3-2014 Financial Results 13 November 2014
  2. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 2
    Key messages Cash generation 145M year to date underlying1 cashflow from operations Business sustainability increasing cash netback trajectory even in lower oil price environment Balance sheet strength liquidity and hedging…
  3. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 3
    Q3-2014 Financial Results Production Q3 H1 YTD 2014 + 2014 = 2014 Financial Summary Reduced volumes in Q3-2014 main period of planned maintenance shutdowns Production kboe/d 10.9 10.5 10.6 Full benefit of increased production…
  4. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 4
    Sustainable cash generative business All-in Cash Cost Evolution1 (/boe) All-in unit cash (/boe) oncosts1 55/boe decreasing trend cost and volume driven 4 52/boe 3 8 Removal of high unit opex Beatrice 4 facilities - re-transfer to…
  5. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 5
    Diversified funding base main capex programme nearing completion 719M1 net drawn debt at end Q3-2014 370M forecast full year capex including Q3-2014 Net Drawn Debt Evolution & Debt Facilities (M)1 Summit YTD-2014 expenditure 280M…
  6. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 6
    Strong liquidity resulting from disciplined financial management Funding & Peak Debt (M)1 815M forecast peak funding requirement prior to Stella start-up based on 90/bbl Brent2 Peak reflects lower Brent price scenario and M…
  7. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 7
    54.67% Working Greater Stella Area development major near term value catalyst Interest GSA delivering a step change in free cashflow generation for the business Strategy building an operated production hub Monetise existing…
  8. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 8
    Development status major milestones completed 4 Development Vessel Preparation for Dry Dock Marine Main Processing Wells Drilled New Plant Installation Works Completed Packages Installed Gas Export Pipeline A1/A2 Wells Tied-in…
  9. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 9
    FPF-1 modifications programme Completion of FPF-1 modifications is key work programme for path to Stella first hydrocarbons Modifications being undertaken by Petrofac in Remontowa shipyard, Poland 800 people per day working on the…
  10. Q3 2014 EARNINGS CALL – Ithaca Energy Inc. – slide 10
    Delivering on a clear plan Clear strategy lower risk North Sea production and development-led growth Simple plan deliver step change in free cashflow generation through Greater Stella Area start-up Financial discipline…

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