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FIRST QUARTER 2015 ANALYST MEETING – PTTEP

PTTEP · May 6, 2015 · 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. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 1
    PTT Exploration and Production Public Company Limited Q1 2015 Analyst Meeting Bangkok 6 May 2015
  2. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 2
    Safety Safety Industry Update Q1 2015 Financial Results Outlook 2/16
  3. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 3
    Q1 2015 Safety Highlights Emphasis on safety in all areas of operations underlines excellent track record Above Industry Average Safety Record of incidents per million man hours Industry Benchmark PTTEP 0.5 0.12 0.0 2009…
  4. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 4
    Industry Update Safety Industry Update Q1 2015 Financial Results Outlook 4/16
  5. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 5
    Oil Prices Headlines drive price volatility Brent Dubai Min-Max Brent Q1Highlights Analyst Consensus* US / Barrel - Uninterrupted shale production growth 120 2015 consensus - Rising US Crude Inventory Q2 Brent 58.80 US/BBL 2H Brent…
  6. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 6
    Industry Response to low prices Emphasis on Efficiency and Value Rig Rates (since 01/2014) Emerging Trends 650 120 Headcount Reduction from service industry Brent New Day Rates (Thousands) 550 100contracts Drillship Brent…
  7. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 7
    2015 Q1 M&A Recap Uncertainty of oil price outlook creates disconnect between buyers and sellers Global Upstream M&A Transaction Value Global Upstream M&A Deal Count million of Transactions 80,000 80 74 BG- Shell 70,000 70 2Q15…
  8. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 8
    Thailand Updates Gas demand continues to grow, and upstream energy reform makes progress Gas Consumption Energy Reform Monthly Gas Consumption by Year Fiscal Regimes MMSCFD 5,100 2013 2014 2015 Production Sharing 4,800 Concessions…
  9. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 9
    Q1 2015 Financial Results Safety Industry Update Q1 2015 Financial Results Outlook 9/16
  10. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 10
    Sales Volume & Unit Costs Strong gas price and healthy cash margin amidst low oil prices environment Rest of World Other SEA Sales Volume and Price Unit Cost TH BOED Cash Cost Unit Cost 400,000 347,295 /BOE 327,145 46.90 C 31,282…
  11. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 11
    Cash Flow Performance Robust liquidity to fund CAPEX and Debt Service Cash Flow Performance Source & Use of Funds in Q1 2015 MMUSD MMUSD KBOED Sales Volume 5,000 5,000 400 4,000 4,330 4,000 3,675 3,000 300 3,000 2,000 2,000…
  12. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 12
    Financial Position Strong Balance Sheet with Low Gearing MMUSD Capital Structure D/E Ratio 25,000 23,287 23,353 1.00 21,572 20,000 5,830 6,510 6,554 0.80 15,000 4,023 4,229 4,206 0.60 10,000 0.34 0.40 0.34 0.33 5,000 11,719…
  13. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 13
    Outlook Safety Industry Update Q1 2015 Financial Results Outlook 13/16
  14. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 14
    2015 Near-term Priorities Update Reassess sales volume target and make progress on cost savings plan Sales Volume Guidance SAVE to be SAFE Cost Optimization Plan Unit : KBOED Unit : MMUSD + 3 to 6% 4,832 4,300 Swing Factors 322…
  15. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 15
    Outlook Adopt a cautious and well-measured approach to cope with price volatility Snapshot of what to expect in 2015 Average Annual Gas Sales Price* 7.2 USD / MMBTU Gas / Liquid Volume Mix % 70:30 Expected EBITDA Margin* 65% Key…
  16. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 16
    Thank You and Q&A Exploring new horizons, we take every step as learning For more information, please visit our website at http://www.pttep.com OR Contact us via email address at IRpttep.com OR Call us at +66 2 537 4000…
  17. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 17
    Supplementary Index 1. Detailed Financial Information 2. Project Details 3. Organization Structure 4. Ratios & Formula 17/19
  18. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 18
    PTTEP Sales Volume and Average Product Price Resilient gas price amidst low oil price environment Sales Volume BOED 347,295 321,886 327,145 Q1 2015 292,629 31,282 19,807 298,621 300,000 26,539 Rest of World Sales Volume 17,559…
  19. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 19
    Operating Performance Improved cash cost & unit cost from lower exploration and G&A expenses Cash Cost Unit Cost /BOE 2013 2014 Q4 14 Q1 15 Q1 14 50 *43.60 46.90 40.19 *39.45 40 35.82 Lifting Cost 4.88 5.26 4.76 4.57 5.35 30…
  20. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 20
    Financial Performance : Income Statement Improved EBITDA Margin 2013 2014 Q4 14 Q1 15 Q1 14 Sales Revenue* (MMUSD) 7,323 7,634 1,845 1,470 1,813 EBITDA (MMUSD) 5,168 5,295 1,209 1,084 1,268 Net Profit (MMUSD) 1,847 677 (739) 264 380…
  21. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 21
    Financial Performance : Balance Sheet Healthy balance sheet with low gearing ratio Credit Ratings : BBB+ (S&P) , Baa1 (Moodys) , AAA (TRIS) 2013 2014 Q4 14 Q1 15 Q1 14 Total Assets (MMUSD) 21,572 23,287 23,287 23,353 22,086 - Cash &…
  22. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 22
    Project Information 1/4 Production Phase: Thailand and JDA Project PTTEPs Partners Q1 2015 Average Sales Volume * 2015 Key Activities Share (as of Q1 2015) Gas Oil and Other Production Phase Thailand and JDA 1 Arthit 80% Chevron 16%…
  23. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 23
    Project Information 2/4 Production Phase: Overseas Project PTTEPs Partners Q1 2015 Average Sales Volume * 2015 Key Activities Share (as of Q1 2015) Gas Oil and Other Production Phase Overseas 16 Oman 44 100% 23 MMSCFD - Drill…
  24. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 24
    Project Information 3/4 Development & Exploration Phase Project PTTEPs Partners 2015 Key Activities Share (as of Q1 2015) Development Phase : Overseas 24 Algeria 433a & 416b 35% PetroVietnam 40% Continue Engineering, Procurement &…
  25. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 25
    Project Information 4/4 Exploration Phase Project PTTEPs Partners 2015 Key Activities Share (as of Q1 2015) Exploration Phase (cont) Overseas (cont) 30 Indonesia South 34% Talisman 33% G&G studies Mandar* TOTAL 33% 31 Indonesia…
  26. FIRST QUARTER 2015 ANALYST MEETING – PTTEP – slide 26
    Organizational Structure Ensuring Transparency, Integrity, and Good Corporate Governance practices Board of Directors Nominating Committee Corporate Governance Committee Remuneration Committee Audit Committee Risk Management…

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