Skip to main content 2001 RESULTS – Oil Search Limited Investor Presentation | Shale Experts
Loading...
Pm

2001 RESULTS – Oil Search Limited

Oil Search Limited · Mar 5, 2002 · 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. 2001 RESULTS – Oil Search Limited – slide 1
    OIL SEARCH LIMITED
  2. 2001 RESULTS – Oil Search Limited – slide 2
    2001 Results Review Programme - Highlights and Strategic Review Peter Botten - Managing Director - Financial Summary Nigel Hartley - Chief Financial Officer - Reserves and Operations Review Mark Wilson - Manager Petroleum…
  3. 2001 RESULTS – Oil Search Limited – slide 3
    Highlights Core operating revenues were at record levels at A244million, marginally higher than the previous record in 2000 In US dollar terms revenues declined 11% on previous year Results have been impacted by lower production,…
  4. 2001 RESULTS – Oil Search Limited – slide 4
    Highlights Operation cashflow totalled A144.2million up 41% and US73.2million up 25% EBITDA and EBIT also rose to A171.9million and A89.6million up 7.1% and 4.9% respectively Both fell marginally in US dollar terms
  5. 2001 RESULTS – Oil Search Limited – slide 5
    Highlights Core operating profit before tax was A67.2million up 6.6%, dropping marginally in US dollar terms Core operating profit after tax was A34.6million (US17.6million) down 43% 2000 results being impacted by a one off anomalous…
  6. 2001 RESULTS – Oil Search Limited – slide 6
    Other Highlights Reserve Review Proven reserves replaced 181% of 2001 Production at US2.10/bbl Proven and probable reserves replaced 139% of 2001 Production at US2.71/bbl Production 6.3 million stb down 12% on 2000
  7. 2001 RESULTS – Oil Search Limited – slide 7
    Other Highlights Exploration Successful appraisal Moran 6 with reserve additions and implications of field extension Success of Saunders 1, with early EWT Encouragement at Marabou 1 Disappointment at Bakari
  8. 2001 RESULTS – Oil Search Limited – slide 8
    Other Highlights Gas Commercialisation Progress on PNG to Queensland Project Committed Operator Reinvigorated marketing New management agreement
  9. 2001 RESULTS – Oil Search Limited – slide 9
    Other Highlights Oil Search - Orogen Merger Sound economic fundamentals Major equities in all projects Significant increase in market size and liquidity A major strategic advance
  10. 2001 RESULTS – Oil Search Limited – slide 10
    Other Highlights Organisational Review Review of required organisation post merger underway Major review of performance, objectives and vision for new organisation, organisation, with outside expertise New Organisation,…
  11. 2001 RESULTS – Oil Search Limited – slide 11
    Oil Search Limited Financial Summary
  12. 2001 RESULTS – Oil Search Limited – slide 12
    2001 Results Profit Summary 2001 2000 USm Am USm Am Oil Liftings (MMB) 5.83 7.06 Sales Revenue 123.9 244.0 139.6 243.9 EBITDA 87.3 171.9 91.9 160.5 EBIT 45.5 89.6 48.9 85.4 Core Operating Profit before tax 34.1 67.2 36.1 63.1 Core…
  13. 2001 RESULTS – Oil Search Limited – slide 13
    Main Result Drivers K Sales Revenue A244.0m 244.0m (US US123.9m) 123.9m) Up 0.1% in Australian Dollar terms Down 11.2% 11.2% in US Dollar terms K Production of 6.23mbbls down 12%, impacted mainly by decline at Gobe and delays…
  14. 2001 RESULTS – Oil Search Limited – slide 14
    Main Result Drivers Tax expense on core profit A32.6m (US16.5m) compared to A2.5m (US1.4m) in 2000 K Effective tax rate 48.6% compared to Petroleum Tax Rate of 50% K Year 2000 tax rate distorted by one off adjustments to bring…
  15. 2001 RESULTS – Oil Search Limited – slide 15
    2001 Results Profit Comparison (Am) (Am) 70 3.1 1.1 0.1 30.1 60.6 42.3 5.6 60 71.8 50 40 34.6 30 16.7 20 10 1.5 0 -10 -20 17.0 -30 &A x ft ce lt t lt un s e ts s n or ta…
  16. 2001 RESULTS – Oil Search Limited – slide 16
    2001 Results EBITDA/EBIT EBITDA/EBIT Detail 2001 2000 USm Am USm Am Oil Production (MMB) 6.23 7.09 Government Barrels reallocated (MMB) 0.34 - Net Oil Production (MMB) 5.89 7.09 Oil Liftings (MMB) 5.83 7.06 Total Revenue 123.9…
  17. 2001 RESULTS – Oil Search Limited – slide 17
    2001 Results 2001 2000 US18.88 US18.01 7.21 6.92 EBIT Amortisation 6.52 5.56 G&A Opex EBITDA EBITDA 0.58 0.66 13.73 * 12.48 * Including **Including other oil Including other oil other oil 4.87 4.87 related related…
  18. 2001 RESULTS – Oil Search Limited – slide 18
    Earnings Before Interest & Tax (EBIT) 90 89.6 85.4 80.6 80 70 60 50 40 AM 30 30 24.3 20 10 0 1997 1998 1999 2000 2001 USM 14.8 18.7 51.4 48.9 45.5
  19. 2001 RESULTS – Oil Search Limited – slide 19
    2001 Results Operating Cashflow Cashflow Summary 2001 2000 USM AM USM AM Receipts 130.9 257.8 130.1 227.2 Payments (35.7) (70.2) (44.7) (78.0) Net Receipts 95.2 187.6 85.4 149.2 Net Interest (11.4) (22.5) (14.5) (25.3) Tax Paid…
  20. 2001 RESULTS – Oil Search Limited – slide 20
    Operating Cash Flow (OCF) 160 144.2 140 128.5 120 102.4 100 80 71.8 AM 60 40 31.9 20 0 1997 1998 1999 2000 2001 USM 19.5 44.8 82.0 58.6 73.2
  21. 2001 RESULTS – Oil Search Limited – slide 21
    2001 Results Balance Sheet Summary 12/01 12/01 USm Am Exploration Expenditure PNG permit expenditure 14.9 29.4 New ventures 1.6 3.2 Gas Project 3.7 7.3 Capitalised Interest 4.8 9.5 25.0 49.4 Development Expenditure Moran…
  22. 2001 RESULTS – Oil Search Limited – slide 22
    2001 Results Balance Sheet Summary 12/01 12/00 USM AM USM AM Cash & STDs 40 80 35 64 Debt - Term Loan 215 425 196 357 - Gobe - - 53 96 215 425 249 453 Equity 501 989 446 813 Gearing Ratios Debt/Debt + Equity 30.0% 35.8%…
  23. 2001 RESULTS – Oil Search Limited – slide 23
    Total Debt & Gearing 400 60 Total Debt 350 Gearing Ratio 50 300 % Gearing Ratio 40 250 USM 200 30 150 20 100 10 50 0 0 1997 1998 1999 2000 2001
  24. 2001 RESULTS – Oil Search Limited – slide 24
    Hedging Residual programme, programme, 1st half year K 2.4m oil swaps/collars at average prices of US14.68/barrel K Programme unwound 30/6/01, cost in first half A60.1m (US30.7m). Residual cost of A5.5m (US2.8m) relating to oil…
  25. 2001 RESULTS – Oil Search Limited – slide 25
    1st Half & 2nd Half Comparison Am Am 1st Half 2nd Half Variance Sales Revenue 110.7 133.3 +20.4% EBITDA 78.3 93.6 +19.5% EBIT 35.3 54.3 +53.8% Pre Tax 19.4 47.8 +146.4 % Post Tax 9.8 24.8 +150.5 % All figures are pre…
  26. 2001 RESULTS – Oil Search Limited – slide 26
    Oil Search Limited Production & Development
  27. 2001 RESULTS – Oil Search Limited – slide 27
    2001 Production Summary Total Production 6.339 mmbbls (17,367 BOPD) Gas Production 5.1BCF (13.9 mmscfd) mmscfd) Total BOE 7.183 mmBOE (19,679 BOEPD)
  28. 2001 RESULTS – Oil Search Limited – slide 28
    Kutubu Yearly Results Kutubu Production - Gross 40,000 2000 2001 Average Monthly Rate (BOPD) 35,000 30,000 Net 3.25 2.61 25,000 Production 20,000 (MMB) 15,000 Net Rate 8,887 7,144 10,000 (bopd) bopd) 5,000…
  29. 2001 RESULTS – Oil Search Limited – slide 29
    Gobe Main Yearly Results Gobe Main Production - Gross 18,000 2000 2001 Average Monthly Rate (BOPD) 16,000 14,000 12,000 Net 1.49 0.72 10,000 Production (MMB) 8,000 6,000 Net Rate 4,076 1,959 4,000 (bopd) bopd)…
  30. 2001 RESULTS – Oil Search Limited – slide 30
    SE Gobe Yearly Results SE Gobe Production - Gross 18,000 2000 2001 Average Monthly Rate (BOPD) 16,000 14,000 12,000 Net 1.02 0.88 10,000 Production (MMB) 8,000 6,000 Net Rate 2,796 2,409 4,000 (bopd) bopd)…
  31. 2001 RESULTS – Oil Search Limited – slide 31
    Moran Yearly Results Moran Production - Gross 18,000 2000 2001 Average Monthly Rate (BOPD) 15,000 12,000 Net 1.32 2.02 Production 9,000 (MMB) 6,000 Net Rate 3,612 5,545 (bopd) bopd) 3,000 0 Ja Ju…
  32. 2001 RESULTS – Oil Search Limited – slide 32
    Moran Infield Road Progress Ch22910 Moran 4 Pad Central Moran Development Moran Beta Pad C h2 20 00 0 1 00 h2 C PDL-5 PDL-2 Project 0 Ch2000 Moran 1X/ 2X Pad 000 00 80 Ch17952 19 h1 Ch…
  33. 2001 RESULTS – Oil Search Limited – slide 33
    Saunders Disco Discovery very Map of Top Iagifu Sand PDL 3 PDL 4

From the store

Browse maps, data & reports in the Shale Experts store