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April 2012 Investors Update – Repsol S.A.

Repsol S.A. · Apr 17, 2012 · 27 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. April 2012 Investors Update – Repsol S.A. – slide 1
    Investors update April 2012
  2. April 2012 Investors Update – Repsol S.A. – slide 2
    Agenda 1. Strategy Execution 2. Financial Performance 3. Summary April 2012 2
  3. April 2012 Investors Update – Repsol S.A. – slide 3
    Agenda 1. Strategy Execution 2. Financial Performance 3. Summary April 2012 3
  4. April 2012 Investors Update – Repsol S.A. – slide 4
    Our vision Core Businesses Upstream Growth engine leveraging on successful exploration activity GNL Cash generation & value of flexibility Downstream Harvesting fully invested best-in-class assets Affiliates YPF 51%…
  5. April 2012 Investors Update – Repsol S.A. – slide 5
    Transformation of the Upstream business On track with 2014 objectives Production growth 3-4% p.a. Proved reserve replacement ratio to 2014 and 5% from 2015 to 2019 greater than 110% Net production (Mboe) 250 5% 200 % 200 162 %…
  6. April 2012 Investors Update – Repsol S.A. – slide 6
    Transformation of the Upstream business Key projects sustaining objectives Cardon IV 750 MUS Carabobo 750 MUS Lubina- Perlas offshore gas field under Montanazo 90 MUS Shenzi 800 MUS development Start-up of extra-heavy crude…
  7. April 2012 Investors Update – Repsol S.A. – slide 7
    Transformation of the Upstream business Consistent exploration program sustaining objectives Exploration Investment (/boe produced) New contingent resources (Mboe)(1) /boe 14 12,4 12 10 8,6 8,2 Contingent Resources 2008 : 765…
  8. April 2012 Investors Update – Repsol S.A. – slide 8
    Transformation of the Upstream business What we are working on. ALASKA CUBA & GUYANA ALGERIA NORWAY Begin intense drilling campaign Initiate drilling in SE Illizi Spud of Jaguar and Jagey Two wells in Norway in Alaska (winter window)…
  9. April 2012 Investors Update – Repsol S.A. – slide 9
    Transformation of the Upstream business LNG on track as well Peru LNG started in June 2010 Canaport regasification plant (Canada) also on stream Increase in LNG adjusted operating income - 2010: 127M - 2011: 388M Solid…
  10. April 2012 Investors Update – Repsol S.A. – slide 10
    Downstream: Best-in-Class Assets Objectives accomplished 100% 1Q 2Q 3Q 4Q Cartagena today 80% Bilbao Improved capacity to process lower quality crude today oils and to produce high quality diesel equivalent FCC equivalent…
  11. April 2012 Investors Update – Repsol S.A. – slide 11
    Downstream: Best-in-Class Assets Key projects have added a premium on margins Real and simulated premium under current conditions Refining margins will consistently show a premium. Increase in Free Operating Cash Flow before taxes…
  12. April 2012 Investors Update – Repsol S.A. – slide 12
    Downstream: Best-in-Class Assets Middle-distillates deficit supports investments Spanish market to continue to show deficit Privileged middle-distillates position 7,4 60 % Middle distillates yields by company 12,0 3,7…
  13. April 2012 Investors Update – Repsol S.A. – slide 13
    Downstream: Best-in-Class Assets On the top of the range throughout the cycle R&M Integrated Margin(1) /bbl 0 2005 2006 2007 2008 2009 2010 2011 Note: (1) R&M margin calculated as CCS/LIFO-Adjusted operating profit of the…
  14. April 2012 Investors Update – Repsol S.A. – slide 14
    YPF expropiation Energy situation in Argentina The total amount in subsidies increases: Gas realization prices (at the wellhead) 2011 USD/MBtu because of the difference between import prices Imports and internal rates, 10-16 (Bolivia…
  15. April 2012 Investors Update – Repsol S.A. – slide 15
    YPF expropiation Evolution of Key Metrics INVESTMENT IN FIXED ASSETS ACQUISITION YPF (In Millions of Dollars) 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 963 1.173 1.286 867 834 981 1.282 1.638 1.991 2.239…
  16. April 2012 Investors Update – Repsol S.A. – slide 16
    YPF expropiation Accounting impact Maximum Exposure in the Financial Statements (Dec 31 2011): 5,7 Bn % YPF over total Group 2011 P&L: Operating Income 25.6% Net Income 21.0% Investments 33.7% April 2012 16
  17. April 2012 Investors Update – Repsol S.A. – slide 17
    YPF expropiation IPO price according to Privatization Law and YPF Bylaws In the hipothetical case of an acquisition equal or greater than 15% and as per Articles 7 and 28 of theYPF bylaws, the party acquiring the shares must launch a…
  18. April 2012 Investors Update – Repsol S.A. – slide 18
    YPF expropiation Final considerations Repsol considers the announcement: Unlawful Discriminatory Does not justify the public interest pursued Obligations assumed at the time of privatization of YPF by the Argentinean state have…
  19. April 2012 Investors Update – Repsol S.A. – slide 19
    Creating a vertically integrated leader in gas and power Gas Natural Fenosa A liquid asset, with long-term value and strategic benefits Strategically, a good opportunity since Repsols participation in GN is an industrial package…
  20. April 2012 Investors Update – Repsol S.A. – slide 20
    Efficient portfolio management Combining organic growth and external opportunities ALASKA Agreement with 70 & 148 LLC (affiliate of Armstrong Oil & Gas Inc) and GMT Exploration LLC to jointly carry out exploration activity in the…
  21. April 2012 Investors Update – Repsol S.A. – slide 21
    Agenda 1. Strategy Execution 2. Financial Performance 3. Summary April 2012 21
  22. April 2012 Investors Update – Repsol S.A. – slide 22
    Financial performance update Strong balance sheet supported by strict financial discipline M M 5% shares sold among institutional investors 14.000 12,473 131% 12.000 10% shares 9,504 10.000 acquisition 8.000 6.000…
  23. April 2012 Investors Update – Repsol S.A. – slide 23
    Financial discipline allowing for steady shareholder returns Dividends (/share) Payout ratio (%) 1.6 100 90 1.16 80 Dividends 1.05 1.2 1.05 Payout ratio 1.00 70 0.85 60 0.8 0.72 +10% 50 0.60 0.50 40 0.40 0.4 30 0.31…
  24. April 2012 Investors Update – Repsol S.A. – slide 24
    Agenda 1. Strategy Execution 2. Financial Performance 3. Summary April 2012 24
  25. April 2012 Investors Update – Repsol S.A. – slide 25
    Summary Accomplishing the transformation of Repsol Upstream into the Groups growth engine through key attractive current projects Positioned for Leverage on strong recent exploration track record to create value from current growth…
  26. April 2012 Investors Update – Repsol S.A. – slide 26
    Strategic roadmap Another year Start up of key Lubina- On going projects * of value Downstream Montanazo creation projects (Spain) US GoM Shenzi Carabobo Reggane Buckskin Brasil Capital (Algeria) (US GoM) FID (2009) (Venezuela)…
  27. April 2012 Investors Update – Repsol S.A. – slide 27
    Investors update April 2012

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