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Q1 2015 Earnings Call – Ithaca Energy Inc.

Ithaca Energy Inc. · May 14, 2015 · 10 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 2015 Earnings Call – Ithaca Energy Inc. – slide 1
    Q1-2015 Financial Results 14 May 2015
  2. Q1 2015 Earnings Call – Ithaca Energy Inc. – slide 2
    First quarter 2015 highlights Strong cashflow generation 99.9M cashflow from ongoing ops1 including 59.7M hedging acceleration Operating cost savings Opex reduced to under 35/boe in the quarter Hedging extended Over 2-years oil…
  3. Q1 2015 Earnings Call – Ithaca Energy Inc. – slide 3
    Solid Q1-2015 performance Production (kboe/d) Realised Hydrocarbon Price (/boe) Unit Operating Expenditure (/boe) 96 /boe 71 /boe1 12.5 kboe/d 10.9 kboe/d 49 /boe 35 /boe1 15% 26% 29% 2014 Q1-2015 2014 Q1-2015…
  4. Q1 2015 Earnings Call – Ithaca Energy Inc. – slide 4
    Q1-2015 financial results Financial Summary Q1-2015 Q1-2014 Revenue1 M 54.2 87.4 38% - production up but oil prices down from 108/bbl to 58/bbl Hedging Cash Gain M 19.0 1.3 16/bbl hedging gains relating to the quarter Hedging…
  5. Q1 2015 Earnings Call – Ithaca Energy Inc. – slide 5
    Strong liquidity as business moves into deleveraging phase 780M net drawn debt at end Q1-2015 Funding & Peak Debt (M) 825-850M peak funding requirement in Q2-2015 950M 950M total debt facilities in place 825-850M 75 Junior RBL…
  6. Q1 2015 Earnings Call – Ithaca Energy Inc. – slide 6
    GSA development status start-up of hub scheduled for Q2-2016 Drilling Campaign Subsea Infrastructure FPF-1 Modifications 5 Ekofisk Stella drilling programme completed Installation activities 90% complete Mechanical completion…
  7. Q1 2015 Earnings Call – Ithaca Energy Inc. – slide 7
    FPF-1 activities focused on delivering Q3-2015 mechanical completion Photos: FPF-1 instrument installation and partial view of top deck ITHACA ENERGY Corporate Presentation 8
  8. Q1 2015 Earnings Call – Ithaca Energy Inc. – slide 8
    FPF-1 activities focused on delivering Q3-2015 mechanical completion Photos: FPF-1 equipment and pipework installation operations ITHACA ENERGY Corporate Presentation 9
  9. Q1 2015 Earnings Call – Ithaca Energy Inc. – slide 9
    Sale of Norwegian business maximising value from Valiant acquisition Norwegian licence portfolio comprehensively restructured following Valiant acquisition in 2013 Sale delivers accelerated monetisation of non-core business 60M…
  10. Q1 2015 Earnings Call – Ithaca Energy Inc. – slide 10
    Delivering on a clear plan Clear strategy Lower risk North Sea production and development-led growth Simple plan Deliver step change in free cashflow generation through Greater Stella Area start-up Financial discipline Fully…

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