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Q3 2013 Earnings Call – Ecopetrol S.A.

Ecopetrol S.A. · Oct 31, 2013 · 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. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 1
    FINANCIAL & OPERATIONAL RESULTS 3rd Quarter 2013 Oct 31, 2013 Apiay Gas Plant
  2. Q3 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. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 3
    Management Participants Rafael Guzman Javier Gutierrez VP of E&Ps Technique CEO Ecopetrol and Development Ecopetrol Hector Manosalva Enrique Velasquez Executive VP of E&P VP of Exploration Ecopetrol Ecopetrol Pedro Rosales…
  4. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 4
    Agenda 1. Highlights for the third quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 4Q 2013 4
  5. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 5
    Highlights of 3Q 2013 Average production (Ecopetrol + net interests): Production 3Q 2013: 800 mboed (+7.7% vs 3Q 2012) Jan-Sep 2013: 791 mboed (+5.4% vs Jan-Sep 2012) 83% exploratory success rate in Colombia in Jan-Sep 2013…
  6. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 6
    Agenda 1. Highlights for the third quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 4Q 2013 6
  7. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 7
    Capex 2013 * Capex (US million) Key projects: Jan-Sep 2013 4,962 Wells drilled** Exploratory: 6 Exploration & Appraisals: 19 3,690 Production Strats: 15 2,570 Development wells and workovers Barrancabermeja refinery…
  8. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 8
    Exploration Nunda well Tello (Huila, Colombia) A3 Exploratory activity in Colombia Ecopetrol + net interests (Number of wells) Drilled Successful In Evaluation Dry 3rd quarter Ecopetrol 2 1 1 0 Hocol 0 0 0 0 Total 2 1 1 0…
  9. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 9
    Production Production: Ecopetrol + net interests Crude and water treatment (thousand barrels of oil equivalent / day) facility in Castilla field 800 750 791 743 2 2 2 6 17 2 18 8 18 8 18 6 24 21 26 21 692 754 697 745 3Q-2012…
  10. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 10
    Transport Transported volumes by Cenit pipelines* Transported volumes by trucks Bicentenario pipe rack (thousand barrels per day) (thousand barrels per day)** 1,138 1,174 242 243 896 932 99 104 1 2 42 31 56 71 3Q-2012…
  11. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 11
    Refining & Petrochemicals Refinery runs Cartagena refinery modernization (thousand barrels of crude per day) (September 2013) 236 217 74 57 B/bermeja Cartagena Gross refining margin (US per barrel) 13.9 10.2 5.7 -0.4…
  12. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 12
    Sales & Marketing Tanker in Coveas port Sales Volume Crude export destinations* (thousand barrels equiv./day) (% total exported volumes) 918 9% 5% 847 3Q 63% 15% 8% 541 2012 495 5% 5% 79 62 3Q 47% 34% 9% 273 316 2013 3Q-2012…
  13. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 13
    Agenda 1. Highlights for the third quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 4Q 2013 13
  14. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 14
    * Financial 200.0 results of Ecopetrol S.A. 109.3 110.7 114.3 110.1 Crude Prices 105.1 (US/BOE) 101.2 101.1 Products 99.6 102.7 94.2 Natural Gas 27.3 0.0 2000.0 27.9 28.4 28.1 27.6 5.7 1,908 Exchange 1800.0Rate 1,863 (COP/US)…
  15. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 15
    * Financial 8.0 results of Ecopetrol S.A. 40% 36% Operating 35% 32% 34% 35% income and 32% Margin 5.5 5.1 4.9 5.5 30% (COP tn) 4.6 3.0 25% 52% 50% 70% 48% 8.0 46% 40% 8.2 EBITDA 7.7 7.3 and margin 6.5 20% 6.0 (COP tn)…
  16. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 16
    P&L 3Q 2013: Ecopetrol S.A. Revenues Income Statement (COP trillion) (COP tn) 16.2 14.2 Higher sales volumes (+1.12 tn) Higher exchange rate (+0.53 tn) Revenues 16.2 3Q-2012 3Q-2013 Variable Costs Higher transport costs due to…
  17. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 17
    Cash Flow and Balance Sheet: Ecopetrol S.A. * Initial Sources Uses Final 26.8 11.0 Cash flow 16.4 0.2 6.0 3Q/2013 3.4 1.6 10.4 4.2 0.4 (COP tn) Initial Cash Operations Other Debt Cash Operations Capex Dividends FX Diff Ending…
  18. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 18
    Bond offerings in 3Q 2013 Colombian Bonds: COP900,000 million Amount (COP Maturity Coupon Diversified Sources of Funding (1) million) 5 year 120,950 CPI+3.79% Other Ex-Im Bank 10 year 168,600 CPI+4.60% 2% Local Syndicated Loan…
  19. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 19
    Ecopetrol S.A. and Consolidated Financials Subsidiaries*: (COP tn) Revenue (COP tn) Reficar: 1.5 16.6 18.1 Hocol: 1.0 Cenit: 0.7 3Q-2012 3Q-2013 Equin: 0.5 40% 44% Ocensa: 0.5 Ebitda Cenit: 0.4 (COP tn) Hocol: 0.3 8.0 6.6…
  20. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 20
    Agenda 1. Highlights for the third quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 4Q 2013 20
  21. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 21
    Organizational consolidation HSE Accident Frequency Index (Accidents / mn labor hours) 0.65 0.5 CSR and R&D Third year in a row in the DJSI Index 2 patents (Colombia and China) 3Q 2012 3Q 2013 One fatality in Reficar in…
  22. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 22
    Agenda 1. Highlights for the third quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 4Q 2013 22
  23. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 23
    Outlook for 4Q-2013 Drilling campaign Colombia: Exploration Ecopetrol S.A.: 8 exploratory wells, 5 strats wells Subsidiaries: 4 exploratory wells International: 2 exploratory wells in the US GoM Cao Sur and Akacas: Declaration of…
  24. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 24
    Investor Relations Phone (+ 571) 234 5190 Email investorsecopetrol.com.co Website www.ecopetrol.com.co 24 24
  25. Q3 2013 Earnings Call – Ecopetrol S.A. – slide 25
    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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