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Q1 2013 RESULTS – Ecopetrol S.A.

Ecopetrol S.A. · May 7, 2013 · 27 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 2013 RESULTS – Ecopetrol S.A. – slide 1
    Ecopetrol S.A. Financial & Operational Results 1st Quarter 2013 May 7, 2013 Tenay field Huila Department - Southern Region
  2. Q1 2013 RESULTS – 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 2013 RESULTS – Ecopetrol S.A. – slide 3
    Management Participants Javier Gutierrez Chief Executive Officer Enrique Velasquez VP of Exploration Hector Manosalva Executive VP of E&P Jaime Bocanegra VP of Transport and Logistics (a) Pedro Rosales Executive VP of…
  4. Q1 2013 RESULTS – Ecopetrol S.A. – slide 4
    Agenda 1. Highlights for the first quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 2Q 2013 4
  5. Q1 2013 RESULTS – Ecopetrol S.A. – slide 5
    Highlights in 1Q 2013 Production Record production of almost 791 MBOED: +6.4% vs 1Q 2012 Three discoveries in Colombia: Ecopetrol (2) and Hocol (1) Exploration Competitive bids for six blocks in U.S. GoM Lease 227 Bicentenario…
  6. Q1 2013 RESULTS – Ecopetrol S.A. – slide 6
    Agenda 1. Highlights for the first quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 2Q 2013 6
  7. Q1 2013 RESULTS – Ecopetrol S.A. – slide 7
    Capex: 1Q-2013 Capex Segment Key projects (US million) Wells drilled* 1,452 A3/A2: 4 Exploration & A1: 3 Production Strats: 5 1,107 Fluids disposal facilities (Castilla and Rubiales) 751 Barrancabermeja refinery…
  8. Q1 2013 RESULTS – Ecopetrol S.A. – slide 8
    Exploration Exploratory activity Drilling in Teca field Ecopetrol + net interests (Mid-Magdalena) (Number of wells) 1Q-2013 Hydrocarbon Drilled presence Colombia* A3/A2 4 3 Strats 5 2 9 5 * Includes Ecopetrol S.A. and…
  9. Q1 2013 RESULTS – Ecopetrol S.A. – slide 9
    Production Production: Ecopetrol + net interests Teca field pumpjacks (thousand barrels of oil equivalent / day) (Mid-Magdalena) 743 791 2 17 2 17 22 6 29 7 688 744 1Q-2012 1Q-2013 Ecopetrol Hocol Savia Equin EC America…
  10. Q1 2013 RESULTS – Ecopetrol S.A. – slide 10
    E&P Segment: Results and Drivers Income Statement (COP trillion) Earnings (COP trillion) 12.1 Lower crude price: Revenues 10.8 10.8 Variable Costs -7% Export basket 3.8 -8.2% Total basket Fixed Costs 1.2 1Q-2012 1Q-2013…
  11. Q1 2013 RESULTS – Ecopetrol S.A. – slide 11
    Transport Transported volumes by pipeline Transported volumes by trucks Bicentenario pipeline (thousand barrels per day) (thousand barrels per day) building site (Casanare) 1,224 1,255 317 314 908 941 104 99 0.2 5 46 22…
  12. Q1 2013 RESULTS – Ecopetrol S.A. – slide 12
    New business model on transport Summary: Subsidiary incorporated in June 2012 100% owned by Ecopetrol Ecopetrol transfered Cenit its shares in pipeline and transport assets Started operations under new model in April 2013 Services…
  13. Q1 2013 RESULTS – Ecopetrol S.A. – slide 13
    Transport Segment: Results and Drivers Income Statement (COP trillion) Earnings (COP trillion) Operational: Higher Revenues 0.64 transported volumes due 0.6 0.6 to rising production Variable Costs 0.03 Non-operational: larger…
  14. Q1 2013 RESULTS – Ecopetrol S.A. – slide 14
    Refining & Petrochemicals Refinery runs Cartagena Refinery (thousand barrels of crude per day) modernization 200 217 74 76 B/bermeja Cartagena Gross refining margin (US per barrel) 15.6 6.6 5.4 6.0 B/bermeja Cartagena…
  15. Q1 2013 RESULTS – Ecopetrol S.A. – slide 15
    Refining & Petrochemicals Segment: Results and Drivers Earnings Income Statement (COP trillion) (COP trillion) 5.5 Lower earnings: Revenues 5.4 5.4 Decreasing prices of Variable Costs 4.9 products (reduction of prices of crude)…
  16. Q1 2013 RESULTS – Ecopetrol S.A. – slide 16
    Sales & Marketing Sales Volumes Crude export destinations* Oil tanker in (thousand barrels equiv./day) (% total exported volumes) Coveas port 2% 871 885 1Q 65% 20% 7% 6% 2012 524 511 1Q 82 45% 36% 7% 8% 4% 74 2013 273 292 U.S.…
  17. Q1 2013 RESULTS – Ecopetrol S.A. – slide 17
    Agenda 1. Highlights for the first quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 2Q 2013 17
  18. Q1 2013 RESULTS – Ecopetrol S.A. – slide 18
    * Financial 150 results of Ecopetrol S.A. 111.9 Crude Prices 100 100.7 101.4 102.1 102.7 106.4 100.2 Products (US/bl and 96.8 96.2 93.5 US/MBTU) 5.8 Gas 50 5.8 6.0 6.0 5.9 5.65 871 903 902 885 848 Products 264 268 265 271 269…
  19. Q1 2013 RESULTS – Ecopetrol S.A. – slide 19
    P&L: Ecopetrol S.A. Revenues Income Statement (COP trillion) (COP trillion) Lower prices: 15.4 14.8 Sales basket (-8.2%) Product exports (-12.1%) Revenues 14.8 Higher production (+6.4%) 1Q-2012 1Q-2013 Variable Costs 6.6…
  20. Q1 2013 RESULTS – Ecopetrol S.A. – slide 20
    Cash Flow and Balance Sheet: Ecopetrol S.A. * Initial Sources Uses Final 0.2 0.1 25.8 10.3 14.8 Cash flow 1Q 2013 10.7 3.0 3.9 8.6 (COP trillion) Initial Cash Operations Other FX Diff Cash Available Operations Capex Dividends…
  21. Q1 2013 RESULTS – Ecopetrol S.A. – slide 21
    Ecopetrol S.A. and Consolidated Financials Revenues Subsidiaries*: (COP tn) (COP trillion) Reficar: 1.9 Hocol: 0.8 18.0 16.7 Ocensa: 0.5 Equin: 0.4 1Q-2012 1Q-2013 Propilco: 0.3 EBITDA (COP trillion) Ocensa: 0.4 48% Hocol: 0.2…
  22. Q1 2013 RESULTS – Ecopetrol S.A. – slide 22
    Agenda 1. Highlights for the first quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 2Q 2013 22
  23. Q1 2013 RESULTS – Ecopetrol S.A. – slide 23
    HSE and Organizational Consolidation HSE 2013 Shareholders Meeting Accident Frequency Index Dividend: (Accidents / mn labor hours) COP291 / share Payment starting on April 15 1.03 in one installment to minority shareholders…
  24. Q1 2013 RESULTS – Ecopetrol S.A. – slide 24
    Agenda 1. Highlights for the first quarter of 2013 2. Results per business segment 3. Financial results 4. Organizational consolidation 5. Outlook for the 2Q 2013 24
  25. Q1 2013 RESULTS – Ecopetrol S.A. – slide 25
    Outlook for 2Q-2013 Drilling campaign Colombia: Exploration Ecopetrol S.A.: 3 A3 wells, 2 Strats, 2 A1 wells Hocol: 1 A3 well, 2 Strats International: 1 A1 well in the US GoM Fields with the main production increases: Castilla,…
  26. Q1 2013 RESULTS – Ecopetrol S.A. – slide 26
    Investor Relations Phone (+ 571) 234 5190 Email investorsecopetrol.com.co Website www.ecopetrol.com.co 26 26
  27. Q1 2013 RESULTS – Ecopetrol S.A. – slide 27
    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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