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Q2 2013 Earnings Call – Ecopetrol S.A.

Ecopetrol S.A. · Aug 1, 2013 · 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. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 1
    FINANCIAL & OPERATIONAL RESULTS 2nd Quarter 2013 Aug 1, 2013 Barrancabermeja Refinery
  2. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 2
    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…
  3. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 3
    Management Participants Javier Gutierrez Camilo Marulanda CEO of Ecopetrol CEO of Cenit Hector Manosalva Enrique Velasquez Executive VP of E&P VP of Exploration Pedro Rosales Alberto Vargas Executive VP of Downstream…
  4. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 4
    Agenda 1. Highlights for the second quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 3Q 2013 4
  5. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 5
    Highlights in the 2Q 2013 Production Average production of 778 MBOED in 2Q and 785 MBOED in 1H One hydrcarbon discovery in Colombia (Cusuco 1) Competitive bids for three blocks in the Brazil Bidding Round Exploration Acquisition of…
  6. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 6
    Agenda 1. Highlights for the second quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 3Q 2013 6
  7. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 7
    Strategic Plan 2013 Capex (US million) Segment Key projects in 1H 2013 3,199 Wells drilled* Exploratory: 4 Exploration & Appraisals: 11 2,331 Strats: 9 Production 1,746 Facilities to manage fluids in Castilla and Chichimene…
  8. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 8
    Exploration Castilla field A3/A2 Exploratory activity in Colombia Ecopetrol + net interests (Number of wells) Drilled Successful 2nd quarter Ecopetrol 1 1 Hocol* 1 0 Total 2 1 1st semester Ecopetrol 4 3 Hocol* 2 1 Total 6…
  9. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 9
    Production Production: Ecopetrol + net interests Pumpjack in Apiay Field (thousand barrels of oil equivalent / day) 762 778 753 785 2 1 2 1 8 18 6 18 7 18 6 18 25 21 27 21 709 732 699 739 2Q-2012 2Q-2013 . 1H-2012 1H-2013…
  10. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 10
    Transport Bicentenario pipeline Transported volumes by pipeline Transported volumes by trucks building site (thousand barrels per day) (thousand barrels per day) 1,184 1,148 223 240 925 944 105 107 3 3 44 23 58 81…
  11. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 11
    Cenit: new transport model starting April 1/ 2013 Operational Financial Revenue sources Dividends from Cenit Client of Cenit (transportation of Service fees from operations and crude and products) maintenance contracts Ecopetrol…
  12. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 12
    Refining & Petrochemicals Refinery runs Highlights (thousand barrels of crude per day) 218 220 Progress in key projects: 73 73 Modernization C/gena Refinery: 83% Modernization B/meja Refinery: 16% B/bermeja Cartagena Industrial…
  13. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 13
    Sales & Marketing Tanker in Coveas port Sales Volumes Crude export destinations* (thousand barrels equiv./day) (% total exported volumes) 903 953 6% 6% 2Q 62% 19% 7% 535 567 2012 2% 81 73 2Q 51% 34% 6% 7% 287 313 2013…
  14. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 14
    Agenda 1. Highlights for the second quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 3Q 2013 14
  15. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 15
    * Financial 200.0 results of Ecopetrol S.A. 110.9 107.1 109.0 114.3 105.1 Crude Prices (US/BOE) 100.7 102.7 94.2 Products 101.2 99.6 Gas 27.6 0.0 27.0 27.8 28.4 28.1 5.7 953 903 848 902 885 Products 268 30% 271 269 274 29% 265…
  16. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 16
    * Financial 8.0 results of Ecopetrol S.A. 50% 39% 36% 35% Operating 32% 32% income and 5.8 5.5 Margin 5.1 4.9 (COP tn) 4.6 3.0 0% 50% 52% 70% 48% 8.0 46% 40% EBITDA 7.7 7.4 7.3 and margin** 6.5 20% 6.0 (COP tn) 3.0 -30%…
  17. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 17
    P&L 2Q/2013: Ecopetrol S.A. Revenues Income Statement (COP trillion) Higher production (+0.67 tn) (COP trillion) 14.8 15.3 Higher average exchange rate (+0.35 tn), Lower average prices Revenues 15.3 2Q-2012 2Q-2013 Variable…
  18. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 18
    Cost Control Initiatives Lifting Cost (US per barrel) Range: 10.68 10.85 E&P Subsoil maintenance 11.53 Infrastructure maintenance Power consumption Operational Support 2012 2013 (f) Refining Cash Cost (US per barrel)…
  19. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 19
    Cash Flow and Balance Sheet: Ecopetrol S.A. * Initial Sources Uses Final 16.0 0.6 0.2 25.4 15.1 Cash flow 2Q/2013 8.6 3.1 (COP trillion) 3.0 4.2 Initial Cash Operations Other FX Diff Cash Available Operations Capex Dividends…
  20. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 20
    Ecopetrol S.A. and Consolidated Financials Subsidiaries*: (COP tn) Revenue (COP trillion) Reficar: 1.9 16.5 17.6 Cenit: 0.6 Equin: 0.6 2Q-2012 2Q-2013 Hocol: 0.5 45% 43% Cenit: 0.4 Ebitda (COP trillion) Equin: 0.3 7.4 7.5…
  21. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 21
    Agenda 1. Highlights for the second quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 3Q 2013 21
  22. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 22
    Organizational consolidation HSE Accident Frequency Index Highlights: (Accidents / mn labor hours) 0.84 Two patents (1 Colombia and 1 Mexico) 0.72 Public hearings and meetings with communities and municipalities in Colombia…
  23. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 23
    Agenda 1. Highlights for the second quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 3Q 2013 23
  24. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 24
    Outlook for 3Q-2013 Drilling campaign Colombia: Exploration Ecopetrol S.A.: 3 A3 wells, 5 Strats wells Subsidiaries: 2 A1 wells International: 1 A1 well and 1 A3 well in the US GoM Drilling campaign of development wells to reach…
  25. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 25
    Investor Relations Phone (+ 571) 234 5190 Email investorsecopetrol.com.co Website www.ecopetrol.com.co 25 25
  26. Q2 2013 Earnings Call – Ecopetrol S.A. – slide 26
    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.

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