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Q1 2015 Earnings Call – QGEP Participacoes SA

QGEP Participacoes SA · May 14, 2015 · 16 slides

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Slides

  1. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 1
    May 14, 2015 First Quarter 2015 Results
  2. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 2
    Agenda Performance Overview Financial Highlights Assets Update
  3. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 3
    Highlights Strategic Highlights Staying the course to unlock the value of our asset portfolio Not affected by oil prices until 2016 Fine tuning exploratory asset base Maintaining industry-leading balance sheet and financial…
  4. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 4
    Agenda Performance Overview Financial Highlights Assets Update
  5. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 5
    FINANCIAL HIGHLIGHTS Consolidated Financial Information (R million) 1Q15 1Q14 % 4Q14 % Net Income 28.9 25.1 15.1% 44.9 -35.6% Amortization and Depreciation 28.4 29.0 -1.9% 28.8 -1.5% (Net financial income)/ expenses (29.8) (20.1)…
  6. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 6
    MANATI FIELD PRODUCTION Gas Production Net Revenue (millions of m) (R million) -0.9% 3.5% 982.3 486.1 503.2 973.1 -4.6% -1.0% 243.7 232.6 127.3 126.0 2013 2014 1Q14 1Q15 2013 2014 1Q14 1Q15 Production at Manati was…
  7. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 7
    OPERATING COSTS, EXPLORATORY AND G&A EXPENSES Operating costs (R Million) 1Q15 1Q14 % 4Q14 % Depreciation 27.5 28.1 -2.1% 29.3 -6.1% Production Costs 15.1 13.1 15.6% 14.5 4.1% Royalties 9.4 9.7 -47.6% 9.7 -2.4% Maintenance Costs…
  8. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 8
    CAPEX 2015-2016 Capex needs of US352 million for 2015 and 2016 are fully funded BS-4 Development and BM-S-8 Exploration will absorb 30% and 35% of the investment, respectively CAPEX net to QGEP CAPEX net to QGEP (US million) (US…
  9. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 9
    Agenda Performance Overview Financial Results Assets Update
  10. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 10
    MANATI GAS COMPRESSION PLANT The activities related to the construction of the gas compression plant are on schedule and on budget. 70% of the work is complete. The plant will come on line mid-year, requiring a 20-day stoppage to…
  11. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 11
    BS-4 OPERATORSHIP ACTIVITIES UPDATE Contracted GE Oil and Gas and McDermott International for the supplying, engineering and installation of all subsea hardware. Progress in the adaptation of Petrojarl Is FPSO with Teekay in…
  12. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 12
    BM-S-8 ACTIVITIES Initial phase of first appraisal well completed; second phase to be drilled to final depth of 6,600 meters in 4Q15 Drilling of the second appraisal underway; final depth of 6,400 meters, expected to be reached…
  13. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 13
    BLOCKS ACQUIRED IN THE 11th ANP BIDDING ROUND Seismic surveys for the FZA-M-90 Block in the Foz do Amazonas Basin and the blocks in the Esprito Santo Basin are completed and the data is being processed. Seismic for the blocks in the…
  14. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 14
    CALENDAR: EXPLORATORY ASSETS Asset 2014 2015 2016 2017 2018 2019 Operator Carcar Guanxuma On hold due to CAL-M-372 environmental license BM-J-2 Round11 ES-M-598 1 well ES-M-673 PEPB-M-894 PEPB-M-896 CE-M-661 1…
  15. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 15
    CONTACT US Investor Relations QGEP Participaes S.A. Av. Almirante Barroso, n 52/sala 1301, Centro, Rio de Janeiro, RJ CEP: 20031-918 Phone - IR: 55 21 3509-5959 Fax: 55 21 3509-5958 E-mail: riqgep.com.br…
  16. Q1 2015 Earnings Call – QGEP Participacoes SA – slide 16
    ANNEX I (1) We calculate EBITDA as profit before taxes and social contributions, net financial results and amortization expenses. EBITDA is not a financial measure according to Brazilian GAAP or IFRS. It should also not be considered…

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