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Q2 2011 Earnings Call – Ecopetrol S.A.

Ecopetrol S.A. · Jul 26, 2011 · 29 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. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 1
    FINANCIAL AND OPERATING RESULTS First semester 2011 July 26, 2011
  2. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 2
    DISCLAIMER This document may include strategy discussions and forward-looking statements regarding the probable development of Ecopetrols Business. Said projections and statements include references to estimates or expectations of the…
  3. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 3
    MANAGEMENT PARTICIPANTS IN TODAYS CONFERENCE CALL Javier Gutierrez Pedro Rosales Enrique Velasquez Chief Executive Officer EVP of Downstream VP of Exploration Camilo Marulanda Alvaro Castaeda Adriana Echeverri VP of Growth and VP…
  4. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 4
    AGENDA 1 Highlights for the first semester of 2011 2 Financial results for the first semester of 2011 3 Outlook for the second semester 2011 4
  5. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 5
    HIGHLIGHTS FOR THE FIRST SEMESTER OF 2011 Historically strong financial and operating results. Production growth Higher evacuation capacity Higher income and Ebitda Corporate Group Production Evacuation Capacity Ebitda and Net…
  6. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 6
    INVESTMENT PLAN FOR THE FIRST SEMESTER OF 2011 Execution of Capex according to plans. Higher investments (US millons) 3,418 38 Corporate and other 157 135 245 Refining and Petroch. 347 1,933 Exploration 433 44 New business…
  7. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 7
    EXPLORATION AND PRODUCTION Five discoveries in Colombia and record production. Discoveries in Colombia Production Growth Well Nunda-1 Well Fauno-1* Location Huila province Location Meta Province Type of crude Light (API 30) Type of…
  8. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 8
    TRANSPORTATION Key expansion of infrastructure allowed transporting higher volumes . Key projects of transport infrastructure expansion: Higher evacuation capacity Main lines, ports and storage facilities Exp. Port Coveas Pozos Galn…
  9. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 9
    REFINING Higher through-put in order to produce cleaner fuels, with increased profitability . Through-put increase at the Higher refining margin Barrancabermeja refinery at the Barrancabermeja refinery Refinery through-put Gross…
  10. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 10
    SALES AND MARKETING 56% share of exports in total sales and price of crudes & products rose more than 38%. Sales volumes growth Higher prices of crude, products and gas Total sales Prices of crude, products, and gas (thousand…
  11. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 11
    ORGANIZATIONAL CONSOLIDATION Highlights of the first semester of 2011 Environmental incidents / Accidents Ranked among the top 100 most respected global companies by Barrons (WSJ group) 91 87 HR Ranked as the 444 largest company in…
  12. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 12
    AGENDA 1 Highlights for the first semester of 2011 2 Financial results for the first semester of 2011 3 Outlook for the second semester 2011 1
  13. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 13
    FINANCIAL RESULTS OF ECOPETROL S.A.* Historically high level of revenues, net income and Ebitda Total Revenue Costs and Expenses Operating Profit (COP trillion) (COP trillion) (COP trillion) and Operating Margin (%) 39% 41% 33% 26.2…
  14. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 14
    SEGMENT FINANCIAL RESULTS OF ECOPETROL S.A.* Positive Ebitda in all business segments in 2011. 16.8 1H-2010 1H-2011 10.6 9.8 7.4 Total Revenues 1.8 3.8 6.3 (COP trillion) 1.4 E&P Refining Transportation Sales and Marketing…
  15. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 15
    CASH FLOW AND BALANCE SHEET OF ECOPETROL S.A.* S&P and Fitch upgraded our rating to investment grade (BBB- /stable) in 2011. Initial Sources Uses Final 30.8 0.6 24.7 Cash Flow 16.3 7.9 5.5 1H 2011 4.3 2.0 0.3 (COP trillion)…
  16. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 16
    FINANCIAL RESULTS OF SUBSIDIARIES Corporate Groups results were also historically high Total Revenues Net Income(COP tn) & Net Margin (%) Ebitda (COP trillion) y Ebitda Margin (%) (COP trillion) 22% 47% 30.6 21% 39% 40% 39%…
  17. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 17
    FINANCIAL RESULTS OF SUBSIDIARIES Ebitda* Net income* Company 1H2010 1H2011 1H2010 1H2011 Hocol 328 577 147 313 Savia 60** 92** 29** 52** EXPLORATION Ecopetrol America -185 -29 -250 -95 & PRODUCTION Ecopetrol Brasil -20 -28 -12 -8…
  18. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 18
    AGENDA 1 Highlights for the first semester of 2011 2 Financial results for the first semester of 2011 3 Outlook for the second semester 2011 18
  19. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 19
    OUTLOOK FOR THE SECOND SEMESTER OF 2011 EXPLORATION Drilling of 37 exploratory wells in 2011 PRODUCTION Average Production for the Corporate Group of 750 mboed in 2011 Crude evacuation program TRANSPORTATION Increase capacity of…
  20. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 20
    INVESTOR RELATIONS Phone (+ 571) 234 5190 Email investorsecopetrol.com.co Website www.ecopetrol.com.co 20
  21. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 21
    Para uso restringido en Ecopetrol S.A. Todos los derechos reservados. Ninguna parte de esta presentacin puede ser reproducida o utilizada en ninguna forma o por ningn medio sin permiso explcito de Ecopetrol S.A.
  22. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 22
    OPERATING RESULTS ECOPETROL S.A.* Production (MBOED) Sales (MBOED) Through-put at the B/meja refinery (MBD) 674.4 597.3 609.0 634.1 824.2 825.6 559.3 96.7 738.3 758.0 98.4 97.9 97.1 726.2 94.9 360.5 457.9 469.1 362.6 438.6…
  23. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 23
    CORPORATE GROUP PRODUCTION Thousand barrels of oil equivalent day (MBOED) 707.3 2.0 615.9 12.5 6.9 590.1 30.8 1.9 7.5 520.6 2.0 27.0 7.1 25.6 1.0 14.7 6.2 655.1 579.5 555.4 498.7 447 376 385 399 2005 2006 2007…
  24. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 24
    RESERVES BALANCE MBOE CORPORATE GROUP SEC AFTER ROYALTIES 1P RESERVES BALANCE SEC AFTER ROYALTIES CORPORATE GROUP 193% X% IRR 1800 359% 1.714 1600 1.538 98% 65% 1400 46% 1.253 1.210 1200 1.137 MMBLS - Eq 1000 800…
  25. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 25
    TRANSPORTATION Main infrastructure expansion projects: Afferent pipelines Santa Marta Cartagena Coveas Ayacucho Rubiales Monterrey Pipeline +80 MBOD B/Bermeja Cao (240 MBOD) Sebastopol Limn 1Q Vasconia Cusiana Vasconia…
  26. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 26
    SALES VOLUMES Local sales Exports 719 825 723 547 650 475 464 302 356 339 Total Sales 148 216 (MBOED) 327 331 348 363 384 361 2007 2008 2009 2010 Jan-Jun 2010 Jan-Jun 2011 Crude oil Ref. Products Natural Gas 464 356 23 339…
  27. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 27
    OPERATIONAL COSTS 8.3 8.0 8.5 9.1 Lifting Cost 7.2 7.2 5.2 (USD/BOE)* ** 2006 2007 2008 2009 2010 Jan-Jun 2010 * * Jan-Jun 2011 5.8 6.0 5.7 5.5 5.3 3.5 4.5 Refining Cost (USD/Bl) 2006 2007 2008 2009 2010 Jan-Jun 2010…
  28. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 28
    RETURN ON ASSETS AND EQUITY 24% 21% 20% 18% 19% 18% Return on 9% 10% 9% 9% 12% 12% 15% 13% 12% 13% 11% 10% Assets 8% 7% 9% 9% (ROA) 40% 39% 37% 34% 35% 32% 26% 26% 28% Return on 22% 18% 22% 24% 23% 23% 16% 17%…
  29. Q2 2011 Earnings Call – Ecopetrol S.A. – slide 29
    DEBT PROFILE OF ECOPETROL S.A.* Outstanding: COL 2.2 trillion Syndicated Term: 7 years (including 2yr. grace period) Loan Interest rate: DTF + 4% T.A. Amortization: Semiannual Outstanding: US1.5 billion Coupon 7.625%…

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