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Financial Results Year End – Inpex Corp

Inpex Corp · May 15, 2015 · 34 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. Financial Results Year End – Inpex Corp – slide 1
    INPEX CORPORATION Financial Results for the year ended March 31, 2015 May 15, 2015
  2. Financial Results Year End – Inpex Corp – slide 2
    Agenda Corporate Overview Outlook Financial Results for the year ended March 31, 2015 Consolidated Financial Forecasts for the year ending March 31, 2016 1
  3. Financial Results Year End – Inpex Corp – slide 3
    Corporate Overview Toshiaki Kitamura Representative Director, President & CEO
  4. Financial Results Year End – Inpex Corp – slide 4
    FY 2015/03 Corporate Highlights (1/2) Financial Results Net sales 1,171.2billion (12.2% decrease YoY) (FY2015/03) Net profit 77.8billion (57.6% decrease YoY) Ichthys Commenced major subsea facility installation Commenced deepwater…
  5. Financial Results Year End – Inpex Corp – slide 5
    FY 2015/03 Corporate Highlights (2/2) Approach to downfall in crude oil prices Implementation of cost reduction through rescheduling of exploration and development activities (activity deferrals, etc.) Acquisition of new…
  6. Financial Results Year End – Inpex Corp – slide 6
    Ichthys LNG Project (1/3) Offloading of LNG plant module (January/2015, Proved reserves: Approx. 970 million Darwin) BOE (Based on INPEXs participating interest of 62.245%) Production volume (expected): 8.4 million t/y of LNG…
  7. Financial Results Year End – Inpex Corp – slide 7
    Ichthys LNG Project (2/3) Offshore Facilities Commencement of pipelaying by Castorone Commencement of drilling of production wells in deeper water area (February/2015) (February/2015) Major works for Offshore Facilities done since…
  8. Financial Results Year End – Inpex Corp – slide 8
    Ichthys LNG Project (3/3) Onshore Facilities Onshore LNG plant site in Darwin, Australia June/2009 April/2015 May/2012 Major works for Onshore Facilities done since FID and plans up to 2016 2012 2013 2014 2015 2016 Detailed…
  9. Financial Results Year End – Inpex Corp – slide 9
    Abadi LNG Project Location of Masela Block (Abadi gas field) AMDAL (Environmental Impact Assessment) Tanimbar Islands INDONESIA process Saumlaki Received environmental permit from the Indonesian Ministry of Environment in June…
  10. Financial Results Year End – Inpex Corp – slide 10
    Topics for FY 2015/03 (1/2) Acquisition of new assets Acquired the ADCO Onshore Concession in April 2015 Participating interest: 5% Contract period: 2015 through 2054 (40 years) Signing Ceremony of the ADCO Onshore…
  11. Financial Results Year End – Inpex Corp – slide 11
    Topics for FY 2015/03 (2/2) Progress of the existing projects and acquisition of new exploration blocks (Results in the 2nd. half of FY 2015/03) Abu Dhabi: Umm Lulu Oil Field U.S.: Lucius Oil Field Brazil: BMES23 in October 2014 and…
  12. Financial Results Year End – Inpex Corp – slide 12
    Net Production* (FY 2015/03) 500 409 408 400 5% 5% Main increase factors Increase in the companys entitlement in the Offshore Mahakam Block, Tangguh LNG (Thousand BOED) 300 41% 41% Project and others due to a decline in…
  13. Financial Results Year End – Inpex Corp – slide 13
    Proved + Probable Reserves* and Reserve Indices 5,000 4,477 Reserve Life**** 4,500 4,255 4,095 4,043 4,000 Reserve Replacement Ratio (3year average)***** 3,500 1,945 1,823 400% 1,608 1,907 350% 3,000 300% 255% 370% Million…
  14. Financial Results Year End – Inpex Corp – slide 14
    Outlook Toshiaki Kitamura Representative Director, President & CEO
  15. Financial Results Year End – Inpex Corp – slide 15
    Responding to Lower Oil Prices (1/2) Investments in FY 2015 & Investment Forecast for FY 2016 FY2015 investments (May 2014 forecast and actual) versus FY2016 investment forecast 12,000 11,250 11,000 10,000 9,381 9,030…
  16. Financial Results Year End – Inpex Corp – slide 16
    Responding to Lower Oil Prices (2/2) Mid to Longterm Growth Initiatives Progress in FY2015 and Plans for FY2016 UAE ADCO Onshore US Gulf of Mexico Concession Malaysia Lucius Oil Field Deepwater Block S UAE Deepwater Block…
  17. Financial Results Year End – Inpex Corp – slide 17
    Investment Plan By Activity By Activity (Billions of Yen) (Millions of US) (Billions of Yen) (Millions of US ) 1,200 12,000 1,100 1,084.0 1,029.7 11,000 9,612 1,000 962.9 9,381 10,000 (Actual) (Actual) 900 9,030 9,000…
  18. Financial Results Year End – Inpex Corp – slide 18
    Net Production* Volume Projection Target for the 2020s 1,000 1 million BOED Following the Ichthys startup etc., the total production volume 900 from existing projects will reach approximately 600 to 700 800 thousand BOED 600…
  19. Financial Results Year End – Inpex Corp – slide 19
    FY 2016/03 Outlook Investment Plan Net Production Projects Development: Target production: Ichthys LNG Project progression 989 billion Yen 512 thousand BOED Optimization of development (104 thousand BOED plan for Abadi LNG Project…
  20. Financial Results Year End – Inpex Corp – slide 20
    Financial Results for the year ended March 31, 2015 Masahiro Murayama Director, Managing Executive Officer Senior Vice President of Finance & Accounting Division
  21. Financial Results Year End – Inpex Corp – slide 21
    Highlights of the Consolidated Financial Results for the year ended March 31, 2015 Apr. 13 Mar. 14 Apr. 14 Mar. 15 Change %Change Net Sales (Billions of yen) 1,334.6 1,171.2 (163.3) (12.2%) Crude Oil Sales 858.7 730.4 (128.3)…
  22. Financial Results Year End – Inpex Corp – slide 22
    Crude Oil Sales Apr. 13 Mar. 14 Apr. 14 Mar. 15 Change %Change Net Sales (Billions of yen) 858.7 730.4 (128.3) (14.9%) Sales volume (thousand bbl) 79,171 80,558 1,387 1.8% Average unit price of overseas 107.78 84.00 (23.78)…
  23. Financial Results Year End – Inpex Corp – slide 23
    Natural Gas Sales (excluding LPG) Apr. 13 Mar. 14 Apr. 14 Mar. 15 Change %Change Net Sales (Billions of yen) 431.1 401.3 (29.8) (6.9%) Sales volume (million cf) 327,117 309,485 (17,631) (5.4%) Average unit price of overseas 13.09…
  24. Financial Results Year End – Inpex Corp – slide 24
    Statement of Income (Billions of Yen) Apr. 13 Mar. 14 Apr. 14 Mar. 15 Change %Change Decrease in Sales Volume : (8.9) Decrease in Unit Price : (227.5) Exchange rate Net Sales 1,334.6 1,171.2 (163.3) (12.2%) (Depreciation of Yen) :…
  25. Financial Results Year End – Inpex Corp – slide 25
    Other Income/Expenses (Billions of Yen) Apr. 13 Mar. 14 Apr. 14 Mar. 15 Change %Change Other income 50.7 101.7 51.0 100.6% Interest income 17.4 11.2 (6.2) (35.7%) Dividend income 9.2 6.6 (2.5) (27.7%) Gain on sales of marketable…
  26. Financial Results Year End – Inpex Corp – slide 26
    Analysis of Net Income Decrease (Billions of Yen) () 200 Main Factors; (8.9) Gain on transfer of mining rights +26.7 150 (Gain on transfer of the Ichthys upstream JV share, etc.) Foreign exchange gain +23.8 Foreign exchange…
  27. Financial Results Year End – Inpex Corp – slide 27
    Balance Sheet (Billions of yen) Mar. 14 Mar. 15 Change %Change Available fund (Billions of yen) 1,263.2* Current assets 1,140.2 1,342.4 202.2 17.7% Breakdown Cash and deposits : 922.6 Tangible fixed assets 951.7 1,497.6 545.8 57.3%…
  28. Financial Results Year End – Inpex Corp – slide 28
    Statement of Cash Flows (Billions of Yen) Apr. 13 Mar. 14 Apr. 14 Mar. 15 Change %Change Income before income taxes and minority interests 750.0 540.0 (210.0) (28.0%) Depreciation and amortization 50.9 52.5 1.6 3.1% Recovery of…
  29. Financial Results Year End – Inpex Corp – slide 29
    Financial Indices Net Debt/Total Capital Employed (Net)* Equity Ratio** Mar.14 Mar.15 (16.8%) (31.9%) 69.1% 68.2% Mar.14 Mar.15 D/E Ratio*** * Net Debt/Total Capital Employed (Net) = (Interestbearing debt Cash and…
  30. Financial Results Year End – Inpex Corp – slide 30
    Consolidated Financial Forecasts for the year ending March 31, 2016 Masahiro Murayama Director, Managing Executive Officer Senior Vice President of Finance & Accounting Division
  31. Financial Results Year End – Inpex Corp – slide 31
    Consolidated Financial Forecasts for the year ending March 31, 2016 1st Half 2nd Half Full year Brent oil price (/bbl) 65.0 65.0 65.0 Average exchange rate (/) 120.0 120.0 120.0 Mar. 15 Mar. 16 Full Year (Actual) (Forecasts )…
  32. Financial Results Year End – Inpex Corp – slide 32
    Sales and Investment Plan for the year ending March 31, 2016 Mar. 15 Mar. 16 (Actual) (Forecasts ) Change % Change Crude oil (thousand bbl)1 80,558 119,854 39,296 48.8% Sales Volume Natural gas (million cf)2 309,485 322,271…
  33. Financial Results Year End – Inpex Corp – slide 33
    Net Income Sensitivities (1/2) Sensitivities of crude oil price and foreign exchange fluctuation on consolidated net income for the year ending March 31, 2016 (Note 1) (The impact of Exchange Rate is shown in more detail below.)…
  34. Financial Results Year End – Inpex Corp – slide 34
    Net Income Sensitivities (2/2) Details on valuation of U.S. dollardenominated assets and liabilities The assets and liabilities denominated in the U.S. dollar are practically balanced in the following chart. However, a portion of…

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