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Q1 2010 Earnings Call – Ecopetrol S.A.

Ecopetrol S.A. · Apr 27, 2010 · 25 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. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 1
    FINANCIAL AND OPERATING RESULTS First quarter 2010 April 27, 2010 1
  2. Q1 2010 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. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 3
    MANAGEMENT PARTICIPANTS IN TODAYS CONFERENCE CALL Javier Gutierrez Mauricio Echeverry Chief Executive Officer General Counsel Adriana Echeverri Hector Manosalva Chief Financial Officer VP of Production Nelson Navarrete Diego…
  4. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 4
    AGENDA 1 Highlights for the first quarter 2010 2 Financial results for the first quarter 2010 3 Outlook for the second quarter 2010 4
  5. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 5
    FIRST QUARTER 2010 HIGHLIGHTS: WE OBTAINED STRONG RESULTS Largest quarterly production growth : Group 27%*, Ecopetrol 21%* E&P High level of exploratory drilling and seismic activity Most competitive bids for 19 blocks in the Oil &…
  6. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 6
    FIRST QUARTER 2010 CAPEX PLAN: SIGINIFICANT GROWTH IN ORGANIC INVESTMENTS Organic Investments (USD mn) Key Projects in Capex Plan 1Q-2010 (USD mn) Project Capex 900 804 Prospect Generation 2010 2.2 15 1% 800 Exploration Other 54.6…
  7. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 7
    UPSTREAM: WE ACHIEVED REMARKABLE PRODUCTION GROWTH AND HIGHER EXPLORATORY ACTIVITY Most competitive bids for 19 blocks in the Oil & Gas Lease Sale Number of wells 213 round in the U.S. GoM: 7 6 5 blocks 100% Ecopetrol 6 5 14 blocks…
  8. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 8
    DOWNSTREAM: WE ARE TRANSPORTING HIGHER VOLUMES, WHILE EXPANDING AND UPGRADING OUR INFRASTRUCTURE 97% progress in Hydro treatment project Transported volumes 43% advance in basic engineering of B/meja modernization plan (MBD) Refining…
  9. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 9
    ORGANIZATIONAL CONSOLIDATION: WE KEEP SUPORTING ENVIRONMENTAL PROTECTION AND IMPROVING OUR OPERATIONAL EFFICIENCY Environmental Incidents 93% progress in milestones of human talent 15 HR development plan 9 HSE 40% reduction in…
  10. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 10
    AGENDA 1 Highlights for the first quarter 2010 2 Financial results for the first quarter 2010 3 Outlook for the second quarter 2010 10
  11. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 11
    WE ACHIEVED THE BEST FINANCIAL RESULTS OF THE LAST QUARTERS Total Revenue (COP tn) Costs and Expenses (COP tn) Operating Profit (COP tn) 27,7 19,6 8,1 3,2 8,7 5,8 5,5 2,7 7,4 8,5 4,6 5,1 2,2 6,7 4,1 2,1 5,1 1,0 1Q09 2Q09…
  12. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 12
    SEGMENT RESULTS Sales (COP Trillion) 3.3 2.4 0.9 0.7 E&P Refining Transportation Sales & Marketing Net Income (COP Trillion) 2.0 0.2 -0.2 0.04 E&P Refining Transportation Sales & Marketing 12
  13. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 13
    WE MAINTAIN A FLEXIBLE CAPITAL STRUCTURE AND STRONG CASH FLOW GENERATION Cash flow 1Q2010 (COP Trillion) 0.4 13.5 8.2 6.7 4.8 5.5 1.1 0.2 Assets* March/10 (COP Trillion) Liabilities* March/10 (COP Trillion) Cash and cash…
  14. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 14
    WE MOVE FORWARD TO THE CONSOLIDATION OF ECOPETROLS GROUP Company %Ecopetrol Revenues Net Income (COP bn) (COP bn) Hocol 100 594 100 Contributed 33 MBOED of production to the Group EXPLORATION Savia 50 75* 19* Y PRODUCTION…
  15. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 15
    AGENDA 1 Highlights for the first quarter 2010 2 Financial results for the first quarter 2010 3 Outlook for the second quarter 2010 15
  16. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 16
    OUTLOOK FOR THE SECOND QUARTER 2010 Increase in oil and gas production, mainly in fields operated by Ecopetrol in the Apiay region, from 130 MBOED to 150 MBOED. Increase drilling activity in Colombia and abroad E&P Completion of 3…
  17. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 17
    ENERGY FOR THE FUTURE Ecopetrol S.A. All rights reserved. The re production of this presentation is forbidden without the written authorization of Ecopetrol S.A. 17
  18. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 18
    INVESTMENT PLAN USD millones 6,925* 387 6,306 735 Acquisitions Organizational consolidation 4,824 2.363 1294 Transport Refining and Petrochemical 1.238 Production 151 Exploration 103 613 571 517 435 3.558 1.760…
  19. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 19
    PRODUCTION Thousand barrels of oil equivalent per day (MBOED) 586,4 521 7,6 26 6 15 552,9 500 447 376 385 399 2005 2006 2007 2008 2009 1Q 2010 Savia Hocol Ecopetrol 19
  20. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 20
    OUR COSTS ROSE DUE TO A HIGHER ACTIVITY RELATED TO INCREASE IN PRODUCTION AND THE REVALUATION OF THE COL Lifting Cost (USD/BOE) 7,2 8,3 7,2 6,5 5,2 5,1 2006 2007 2008 2009 1Q2009 1Q2010 Refining Cost (USD/Bl)…
  21. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 21
    EXPLORATION Seismic equivalent kilometers 9.201 6.789 4.584 4.654 2.668 3.081 2005 2006 2007 2008 2009 1Q 2010 21
  22. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 22
    IMPROVED RETURNS ON ASSETS AND EQUITY 24% 21% 20% 18% 12% 12% 15% Return on Assets 9% 10% 9% 8% 7% 9% 11% 10% (ROA) 9% 9% 40% 39% 37% 34% 26% 26% 28% 22% 22% 24% 23% Return on Equity 16% 18% 17% 16% 16% 19%…
  23. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 23
    RESERVES BALANCE MBOE CORPORATE GROUP SEC AFTER ROYALTIES IRR: 98% 65% 46% 351% 23
  24. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 24
    ACCIDENT RATE Rate of accidents ( of accidents / million of man - hours) 5,8 2,6 1,8 1,7 1,2 1,3 2005 2006 2007 2008 2009 1Q-2010 24
  25. Q1 2010 Earnings Call – Ecopetrol S.A. – slide 25
    EXPANSION OF TRANSPORTATION INFRASTRUCTURE SANTAMARTA POZOS COLORADOS GALN El Copey 140 Km out of 510 Km Retiro Or Ayacucho Payoa Toledo Samor B/bermeja Sebastopol MEDELLIN Araguaney RUBIALES MANIZALES…

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