Financial and Operating Results Fourth quarter and year 2011 February 16, 2012
DISCLAIMER This document was prepared by Ecopetrol S.A. with the purpose of providing the market and interested parties certain financial and other information of the Company. This document may include strategy discussions and…
MANAGEMENT PARTICIPANTS IN CONFERENCE CALL Javier Gutierrez Chief Executive Officer Enrique Velasquez VP of Exploration Hector Manosalva EVP of E&P Alvaro Castaeda VP of Transportation and Logistics Pedro Rosales EVP of…
AGENDA 1. Highlights of 2011 2. Financial results for the fourth quarter and year 2011 3. Outlook 2012 4
HIGHLIGHTS 2011 The Company achieved historicallyahigh operational and financial results 18% production growth 1P Reserve replacement ratio of 164% Technical success rate of 48%: 17 successful exploratory wells 1 Operational…
INVESTMENT PLAN Peak level of investment led to historically high results in 2011 Capex Investment per year (2007-2011) Investments by segment US million (2008-2011) 7,214 5% 10% 2% 6,306 5% 6,031 11% 15% 4,824 8% US 25.7…
EXPLORATION AND PRODUCTION Technical exploratory success of 48%* and record production of 724 mboed Exploratory Activity Production Growth 4Q-2011 2011 Groups Production Corporate (thousand barrels of crude and gas per day) Group…
1P RESERVES ADDITION Reserve replacement ratio of 164% in 2011 and 63% increase in reserves 2008 - 2011 Corporate Group Reserves addition vs. Production*** 1P Reserves Balance* 2008-2011 (MMBOE) (MMBOE) RRR ** 1,352 164% 193%…
TRANSPORTATION Higher transported volume due to infrastructure expansions, optimization of pumping systems and drag reduction agents Transported volume and capacity Key projects of transportation Coveas Port Pozos Galan Ayacucho…
REFINING Better margins and progress in modernization projects at Barrancabermeja and Cartagena Refining margin of the Refinery modernizations Barrancabermeja Refinery Gross refining margin (USD/Barrel) 11.2 8.0 Cartagena:…
SALES AND MARKETING Growing volumes with better prices and diversified markets Sales volume growth Higher prices of crude, Export destinations (Crudes) products and gas exports U.S. 1,6% 0,7% 0,9% Far East Total Sales Prices of…
ORGANIZATIONAL CONSOLIDATION AND CORPORATE SOCIAL RESPONSIBILITY Lowest accident index and member of the Dow Jones Sustainability Index HSE Accidents per million labor hours Lowest accident frequency index in the companys history…
AGENDA 1. Highlights of 2011 2. Financial results for the fourth quarter and year 2011 3. Outlook 2012 13
FINANCIAL RESULTS OF ECOPETROL S.A.* Historically high revenues, income and Ebitda from higher production, cost control and better prices Total Revenue Costs and Expenses Operating Profit (COP trillion) (COP trillion) (COP trillion)…
SEGMENT FINANCIAL RESULTS OF ECOPETROL S.A.* Positive Ebitda in all business segments and higher growth in E&P E&P Refining Transportation Sales and Marketing 36,3 Total Sales 22,7 20,4 15,1 13,4 (COP trillion) 7,9 3,0 3,9…
CASH FLOW AND BALANCE SHEET OF ECOPETROL S.A.* Strong operating cash generation, low indebtedness and investment grade rating Initial Sources Uses Final 53,8 1,4 2.2 62,9 34,8 Cash Flow 2011 13,0 (COP trillion) 5,5 5,9 9.2 Initial…
SECOND ROUND OF EQUITY OFFERING Successful equity offering in spite of the difficult capital market conditions Results of the offering Ecopetrols ownership (as of December 31-2011*) Allotment 13% Foreign ADRs Other inv. in ord.…
FINANCIAL RESULTS OF SUBSIDIARIES Groups financial results were also historically high Total Revenue (COP trillion) Net Income (COP tn) and Net Margin (%) Ebitda (COP tn) and Ebitda Margin (%) 48% 47% 47% 46% 23% 25% 24% 42% 21%…
FINANCIAL RESULTS OF COMPANIES OF THE CORPORATE GROUP Better results mainly in E&P Ebitda* Net Income* Segment Company 2010 2011 2010 2011 Hocol 503 1.180 233 630 Savia 117** 212** 47** 99** Ecopetrol America -412 -87 -543 -197…
STRATEGIC PLAN RESULTS Investments drive our results and strategic plan CAPEX Results 2008-2011 2008-2012 Production (mboed) 1P Reserves and RRR (2007-2011) 1,300 RRR* 164% US 33 billion 1,000 351% 193% 46% 724 65% 1,714 1.857…
AGENDA 1. Highlights of 2011 2. Financial results for the fourth quarter and year 2011 3. Outlook 2012 21
UPDATED INVESTMENT PLAN 2012-2020: Investment focused on E&P, in Colombia and 75% funded by internal cash generation Sources Uses Goals 2020 Production: 1.3 mmboed 2% 1% Reserves: Add 6,200 mmboe gross 1P reserves 16% 5% 7%…
INVESTMENT PLAN 2012 Sustained level of investment for future growth Capex Key goals per segment 42 exploratory wells 4% 37 in Colombia Exploration 5 international 4% Average yearly production Corporate Group: 800 mboed 24%…
Outlook 2012 Year 2012 will bring new challenges, 2011 results make us confident EXPLORATION 42 wells: 37 in Colombia and 5 international PRODUCTION 800 thousand barrels average production per day for the Corporate Group Start of…
RELACIN CON INVERSIONISTAS Telfono (+ 571) 234 5190 Email investorsecopetrol.com.co Pgina web www.ecopetrol.com.co 25
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