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Q4 2014 EARNINGS CALL – Ecopetrol S.A.

Ecopetrol S.A. · Mar 3, 2015 · 19 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. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 1
    Ecopetrol S.A. Operational and Financial Results 4th Quarter 2014 and FY2014 March 3rd 2015
  2. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 2
    Management Participants Javier Gutirrez Magda Manosalva CEO CFO Ecopetrol Ecopetrol Hctor Manosalva Adriana Echeverri VP of Development and Production VP of Growth & Strategy Ecopetrol Ecopetrol Pedro Rosales Alberto Vargas…
  3. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 3
    Agenda 1. Highlights 2. Operational Update 3. Financials 4. Outlook for 2015 5. Q&A 4
  4. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 4
    Highlights: Upstream Upstream 4Q/2014 2014 Discoveries in Colombia* 7 discoveries Orca-1: First in Colombian Exploration Caribbean offshore deep 5 Colombia water Nueva Esperanza-1 :CPO-09 2 Gulf of Mexico (USA) Block 765 mboed…
  5. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 5
    Highlights: Midstream and Downstream Midstream 4Q/2014 2014 Capacity expansion of Delta 35 Capacity increase of crudes +60 project from Ocensa mbd and products +30 mbd Transport Expansion in Santiago-Porvenir & Logistics…
  6. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 6
    Highlights: Financial and Organizational Consolidation 4Q/2014 2014 Net loss COP0.62 Tn: Net income of COP7.8 Tn and an Ebitda Margin of 39% Lower international prices Financial Bond offerings for US3.2 Billion Lower sales volume…
  7. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 7
    Investment 2014* Investment (US million) Allocation Key Projects 8,680 Production Drilling plan execution for fields in the Llanos Orientales US 4,395 mm Drilling of 761 development wells Development of the Castilla project Finished…
  8. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 8
    Exploration A3 Wells 2014 Highlights 4Q/2014 Total Success Evaluation Dry Seven discoveries Ecopetrol (Colombia) 3 0 1 2 Colombia: five discoveries Hocol (Colombia) 1 0 0 1 Orca-1 Ecopetrol America Inc. Nueva esperanza 1 (U.S. Gulf…
  9. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 9
    Production Production 2014 Highlights Ecopetrol + Net Interests* Production growth in 3Q and 4Q despite difficulties (mboed) (prices, environment, and public order) 788 Record production in fields: Chichimente (80 mbod 779 Dec/14)…
  10. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 10
    1P Reserves 1P Reserves 2010-2014 (millons of barrels equivalent) 2014 Highlights + 5.7% in proved reserves vs 2013 +22% 2,084 1,972 1,857 1,877 Reserves/production of 8.6 years (8.1 in 2013) 1,714 2010-2014 sustained growth:…
  11. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 11
    Improved Recovery Initiated Improved Recovery Pilots in 2014 2014 Highlights Incorporation of 34 million barrels of 1P reserves through improved recovery BASIN FIELDS 1Q 2Q 3Q 4Q Reached 2014 goal: 13 pilots initiated Galn (WF)…
  12. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 12
    Transport Volumes Transported by Cenit (mbd) Highlights Crude Oil Products 4th. Quarter 2014: 1.198 1.233 229 257 Increase in transported refined products as a result of higher transported naphtha volumes for dilution 969 976…
  13. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 13
    Downstream Refining and Petrochemical 2014 Highlights: Improved B/meja refining margin B/Meja Gross Refining Margin (USD/Bl) Availability and stability in process units Better product-crude spreads Reficar modernization project:…
  14. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 14
    Income Statement Drivers (COPTn) Effect in Net 2014 2013 Income 62,51 58,09 - 5.55 - 0.36 + 3.22 Revenues -1.73 -4.42 (-) 2013 Volumes Price Other FX 2014 29,07 28.64 Variable + 1.32 + 0.39 - 0.24 - 2.29 + 0.39 -0.43 (+) Costs…
  15. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 15
    Key Financial Results (COP Tn) Margin % 46% 39% Effective Tax Rate 2014 2013 28.5 22.4 Ebitda and Margin Ebitda -6.1 2013 2014 20.4 13.1 Pre-Tax Income -7.3 2013 2014 34% 40% 7.0 5.3 Income Tax -1.7 2013 2014 21%…
  16. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 16
    2015 Costs and Expenses Optimization Budget Reduction* 5,0% 3,3% 3,7% Compras Purchasede ofCrudos Crudes 5,2% 45.5% Compras Purchasedeofdiluyente y productos diluent and products Mantenimiento de Subsuelo Subsoil and…
  17. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 17
    2015 Outlook Beginning of offshore drilling campaign: drilling of two wells in the Colombian Caribbean (Calas and Kronos), and one in the Gulf of Mexico, with a Capex of approx. US200 million Exploration Onshore drilling campaign:…
  18. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 18
    Investor Relations Phone (+ 571) 234 5190 Email investorsecopetrol.com.co Website www.ecopetrol.com.co 19 19
  19. Q4 2014 EARNINGS CALL – Ecopetrol S.A. – slide 19
    Ecopetrol S.A. All rights reserved. The re production of this presentation is forbidden without the written authorization of Ecopetrol S.A.

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