2014 FULL YEAR RESULTS 26 MARCH 2015 1 2014 FULL YEAR RESULTS
INTRODUCTION Austin Avuru (CEO) 3 2014 FULL YEAR RESULTS
BUILDING A LEADING INDIGENOUS NIGERIAN E&P COMPANY A PROVEN INDIGENOUS OPERATOR IN NIGERIA WITH A STRONG TRACK RECORD OF DELIVERY Key strategic initiative achieved through successful IPO TECHNICAL, COMMERCIAL & OPERATING EXPERIENCE…
PERFORMANCE AGAINST OUR OBJECTIVES PROGRESS MADE IN 2014 Maximise 2014 production in line with guidance at 30,823 boepd production and Set a new record when oil output at OMLs 4, 38 and 41 exceeded 76,000 bopd 1 cash flows from in…
POSITIONING SEPLAT IN A LOW OIL PRICE ENVIRONMENT A STRONG FOCUS ON OPERATIONAL EFFICIENCY AND FINANCIAL DISCIPLINE DRIVING 2015 ACTIVITIES High grading of the portfolio and selective deployment of capital Prioritise the production and…
OPERATIONS UPDATE Stuart Connal (COO) 7 2014 FULL YEAR RESULTS
PRODUCTION UNDERPINNED BY A STRONG PLATFORM OF PRODUCING FIELDS Average daily working interest production FY 2015 working excluding unbudgeted downtime interest guidance range 40,000 Average daily working interest production 2014…
RESERVES UPDATE GROWING THE RESERVES BASE YEAR-ON-YEAR MOVEMENT IN WI 2P RESERVES (MMboe) GROWTH OF WI 2P OIL RESERVE BASE 2010 2014 (MMbbl) 300 2 160 250 14 67 281 140 2010 2014 CAGR: 18% 120 139 200 226 100 83 150 80 60 25 100…
RESERVES AND RESOURCES UPDATE A SIGNIFICANT RESERVE AND RESOURCE BASE OFFERS GOOD FUTURE GROWTH POTENTIAL TOTAL WI HYDROCARBON RESERVES & RESOURCES 562 MMBOE TOTAL WI OIL RESERVES & RESOURCES (MMbbls) 600 Gas OML 4, 38,41 2P 20…
OMLs 4, 38 & 41 MANAGING FIELD RESERVOIRS TO OPTIMISE PRODUCTION, CAPEX EFFICIENCY AND LOWER OPEX/BOE Drilled and completed 23 wells comprising 12 development wells, 4 appraisal wells, 5 workovers, 1 water injector and 1 water…
OMLs 4, 38 & 41 UPDATE ON CURRENT CAPITAL PROJECTS Amukpe AG Compression project Project completed Dual objective of removing gas flare and providing gas lift to Ovhor Field. Installation of 4 x 15MMscfd compressors and associated…
GAS BUSINESS COMMERCIALISING AND DEVELOPING A STRATEGIC RESOURCE Strong demand for Gas to support power projects and other GAS PLANTS CAPACITY AND CONTRACTED VOLUMES commercial enterprises. Domestic gas pricing move from US2/Mscf to…
OVERVIEW OF NIGERIAS KEY GAS INFRASTRUCTURE SEPLAT IS STRATEGICALLY WELL POSITIONED TO CAPITALISE ON GROWTH OPPORTUNITIES IN THE GAS SECTOR OMLs 4, 38, 41 1,903 Bscf gross OPL 283 199 Bscf gross OML 53 1,500 Bscf gross…
EXPLORATION NUMEROUS UNDEVELOPED/UNEXPLORED RESERVOIRS AND PROSPECTS HAVE BEEN IDENTIFIED Drilled Ogegere-1 in 2013/14 on OML 38 Seplats first exploration well Although a marginal discovery, it opens up a potential new deep play…
2015 RIG BASED WORK PROGRAMME PROFITABLE WELLS TARGETED IN LOW OIL PRICE ENVIRONMENT 2014 2015 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sapele Shallow Sapele Shallow Sapele Shallow Sapele Shallow Exploration Land…
ACQUISITIONS Austin Avuru (CEO) 17 2014 FULL YEAR RESULTS
BUILDING A LEADING NIGERIAN INDEPENDENT E&P A PROLIFIC OPPORTUNITY SET IN A PROVEN AND HIGH POTENTIAL OIL AND GAS SYSTEM Wide range of attractive new business opportunities available - Additional IOC divestments - Asset acquisitions…
OML 53 ACQUISITION OF INTERESTS IN OML 53 AND OML 55 OFFER OIL AND GAS RESERVES AND PRODUCTION GROWTH POTENTIAL Acquired a 40.00% working interest from Chevron Nigeria Limited in February 2015 Holds the producing Jisike oil field and…
OML 55 ACQUISITION OF INTERESTS IN OML 53 AND OML 55 OFFER OIL AND GAS RESERVES AND PRODUCTION GROWTH POTENTIAL Acquired an effective 22.50% working interest from Chevron Nigeria Limited in February 2015 Holds five producing fields…
FINANCE UPDATE Roger Brown (CFO) 21 2014 FULL YEAR RESULTS
INCOME STATEMENT 2014 PERFORMANCE REFLECTS LOW OIL PRICE ENVIRONMENT AND UNPLANNED THIRD PARTY INFRASTRUCTURE DOWNTIME US million FY 2014 FY 2013 Y-o-Y FY 2014 FY 2013 Revenue 775 880 -12% Gross Oil Sales 778 815 (Over)/Under-lift…
NORMALISED OPERATING PERFORMANCE 2014 vs 2013 UNDERLYING PROFITABILITY NORMALISING FOR ONE OFF ITEMS FY 2013 SALES REVENUE FY 2014 SALES REVENUE US880m US775m Adjustment for US93 million 1200 reversal of deferred tax and US82…
CASH FLOW UNDERPINNED BY A ROBUST CAPITAL STRUCTURE 1,600 125 1,400 446 296 1,200 37 1,000 152 US million 73 800 535 48 34 600 453 400 353 738 200 285 169 0 Cash 31 Dec Funds Flow from Gross IPO…
CAPITAL EXPENDITURES 2015 CAPITAL EXPENDITURES SET IN THE CONTEXT OF THE PREVAILING OIL PRICE ENVIRONMENT 1% 3% 12% 22% 14% US296 US168 46% million million 71% 31% FY 2014 NET CAPITAL EXPENDITURES FY 2015E NET…
CAPITAL STRUCTURE SUCCESSFUL US1 BILLION DEBT REFINANCING UNDERSCORES THE QUALITY OF SEPLATS ASSET BASE YEAR END 2014 POST DEBT REFINANCING End 2014 Jan 2015 Facility million Coupon Facility million Coupon Afrexim Syndication Loan…
Q&A 28 2014 FULL YEAR RESULTS
Head Office Seplat Petroleum Development Company Plc Head Office Address: 25A, Lugard Avenue, Ikoyi, Lagos, Nigeria. Phone: +234 1277 0400 Email: infoseplatpetroleum.com irseplatpetroleum.com Web: www.seplatpetroleum.com London…
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