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Q4 2013 Earnings Call – Ecopetrol S.A.

Ecopetrol S.A. · Feb 27, 2014 · 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. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 1
    FINANCIAL & OPERATIONAL RESULTS 4th Quarter 2013 February 27 of 2014 Cao Sur Field Meta Province, Colombia
  2. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 2
    Management Participants Javier Gutierrez Humberto Fuenzalida CEO Interim VP of Exploration Ecopetrol Ecopetrol Rafael Guzman Hector Manosalva VP of E&Ps Technical and Executive VP of E&P Development Ecopetrol Ecopetrol…
  3. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 3
    Agenda 1. Highlights of 2013 2. Operational Update 2013 3. Outlook for 2014 4
  4. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 4
    Highlights of 2013 2013 was a good year for Ecopetrol. Both reserves and production grew, and we maintained strong financial results within a challenging environment for our operations Reserves replacement ratio of 139% Production…
  5. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 5
    2013 Financial Results Ecopetrol remains a financially strong company, with high margins (EBITDA, operating and net) in comparison to other oil companies. Its indebtedness continues to be low and its cash generation is strong 4Q…
  6. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 6
    Drivers of Income Statement 2012 VS 2013 2012-2013 1.5 0.5 62.5 59.5 -1.0 2.0 Revenues +3.0 (+) (COP tn) 2012 Precio Price Volumen Volume T.F/X Cambio Otros Other 2013 Variable Costs 26.0 1.6 29.9 -1.1 2.6 0.9 (COP tn) +3.9…
  7. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 7
    Key Financial Results 2012-2013 28.6 28.5 Ebitda (COP tn) -0.1 2012 2013 30% 34% 21.5 20.4 Pre Tax Income (COP tn) -1.1 2012 2013 Income Tax 7.0 6.6 (COP tn) +0.4 2012 2013 Net Income 15.0 13.4 (COP tn) -1.6…
  8. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 8
    Agenda 1. Highlights of 2013 2. Operational Update 2013 3. Outlook for 2014 9
  9. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 9
    Capex 2013 Capex (US million) Segment Key projects 8,501 Exploration & Exploratory wells drilled: 22 1,133 Production (64%) Surface facilities and development 1,942 Transport Bicentenario pipeline (11%) Mid-Mag system San…
  10. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 10
    Production 1 Increase Recovery Factor 2 Exploration 3 Unconventional Production*: Ecopetrol + net interests** (thousand barrels of oil equivalent / day) Crude and water treatment facility in Castilla field 779 4.5%…
  11. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 11
    Primary recovery 1 Increase Recovery Factor 2 Exploration 3 Unconventional MAIN FIELDS* BASIN PRODUCTION (MBOED) MILESTONES 2013 PRODUCTION (MBOED) Operated EC Partnership 13% Castilla (113) 367 Development wells…
  12. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 12
    1 Increase Non thermal recovery Recovery Factor 2 Exploration 3 Unconventional BASIN MAIN FIELDS* MILESTONES 2013 1Q 2Q 3Q 4Q Mid Bonanza (Pilot WF) Magdalena Nutria (Pilot WF) San Francisco (pilot CEOR) Dina…
  13. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 13
    Thermal recovery: developments of 2013 1 Increase Recovery Factor 2 Exploration 3 Unconventional Pilots Ecopetrol Technology: ECO - GSAI Chichimene air injection test: Basic & Detailed engineering facilities : 100%…
  14. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 14
    Exploration (1/2) 1 Increase Recovery Factor 2 Exploration 3 Unconventional A3 Exploratory activity Nunda well Tello Ecopetrol + net interests (Huila - Southern region) (Number of wells) Drilled Successful In…
  15. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 15
    1 Increase Exploration (2/2) 2 3 Recovery Factor Exploration Unconventional Conventionals Unconventionals Emerging basins 2 strats drilled in Mid-Magdalena Llanos & Catatumbo Drilling: 1 well drilled in Catatumbo…
  16. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 16
    Proven Reserves 1P* Reserves Balance: 2012 - 2013 Sources of Addition: 2013 (million of BOE) Extensions 1,877 1,972 and 245 340 538 discoveries 506 Gas 22% 1,370 1,434 Oil Acq. / 340 Revisions Divest. 3% mmboe 67% 2012…
  17. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 17
    Transport Bicentenario pipe rack Transported volumes by Cenit pipelines* Transported volumes by trucks (thousand barrels per day) (thousand barrels per day)** 1,152 1,188 234 237 918 950 104 99 2 4 40 26 57 73 2012…
  18. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 18
    Refining & Petrochemicals Refinery runs Cartagena refinery modernization (thousand barrels of crude per day) (December 2013) 219 215 75 66 B/bermeja Cartagena Gross refining margin (US per barrel) 10.9 10.9 5.4 3.1…
  19. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 19
    Sales & Marketing Tanker in Coveas port Sales Volume Crude export destinations* (thousand barrels equiv./day) (% total exported volumes) 923 7% 5% 880 5% 2012 59% 21% 8% 521 540 6% 2% 79 70 2013 46% 37% 9% 280 313 2012 2013…
  20. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 20
    Agenda 1. Highlights of 2013 2. Operational Update 2013 3. Outlook for 2014 21
  21. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 21
    2014 Capex Key goals and projects Breakdown of Capex 31 exploratory wells Colombia: 26 2% International: 5 Exploration 6 appraisals wells 13% 8 stratigraphic wells Production 8,460 Kms of seismic Exploration Average…
  22. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 22
    2014 Capex: Allocation and Sources Capex (USmn) EC's projects 6,463 EC's inv. in subsidiaries 1,908 Sources for Ecopetrols 2014 Capex of US 8.4 bn Total Capex EC 8,371 1. Internal cash generation 2. 2013 financing 3.…
  23. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 23
    Highlights 2007-2013 Upstream Midstream Downstream 97% growth in production New model in transport & Improved fuel quality logistics 63% growth in 1P Market diversification reserves and average RRR 58% increase in capacity of of…
  24. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 24
    Closing Remarks Colombia is a country with big opportunities for the O&G industry. During the last six years Ecopetrol has delivered positive growth rates and strong financial results compared to other O&G companies. 2013 was a…
  25. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 25
    Investor Relations Phone (+ 571) 234 5190 Email investorsecopetrol.com.co Website www.ecopetrol.com.co 26 26
  26. Q4 2013 Earnings Call – Ecopetrol S.A. – slide 26
    Ecopetrol S.A. All rights reserved. The re production of this presentation is forbidden without the written authorization of Ecopetrol S.A.

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