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Q2 2013 EARNINGS CALL – YPF S.A.

YPF S.A. · Aug 12, 2013 · 21 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. Q2 2013 EARNINGS CALL – YPF S.A. – slide 1
    2nd Quarter 2013 Earnings Webcast August 12, 2013
  2. Q2 2013 EARNINGS CALL – YPF S.A. – slide 2
    Agenda 1 Q2 2013 Results 2 Financial Situation 3 Shale Development Agreement 4 Summary
  3. Q2 2013 EARNINGS CALL – YPF S.A. – slide 3
    Q2 2013 Results Highlights(1) Revenues of ARS 21.9 bn (+36.4% vs. Q2 2012) Recurring Operating Income was ARS 2.2 bn (+18.6%) Recurring Net Income was ARS 1.1 bn (+30.9%) Recurring EBITDA reached ARS 5.8bn (+40.0%) Total Capex topped…
  4. Q2 2013 EARNINGS CALL – YPF S.A. – slide 4
    Q2 2013 Recurring Operating Income(1) Solid domestic demand and pricing discipline coupled with Downstream business unit efforts to recover from the La Plata Refinery incident resulted in recurring Operating Income increase of…
  5. Q2 2013 EARNINGS CALL – YPF S.A. – slide 5
    Q2 2013 Recurring Operating Income(1) Downstream business performance drove the increased results of this quarter. In million of ARS 14 2,218 349 -15 1,870 Q2 2012 Downstream Upstream Other Q2 2013 (1) Impact of non cash…
  6. Q2 2013 EARNINGS CALL – YPF S.A. – slide 6
    Q2 2013 Upstream Results(1) Higher revenues were offset by increases in production costs and depreciations. In million of ARS 210 121 2,447 -1,264 -537 -316 1,458 1,443 -676 Q2 2012 Revenues Purchases Afiliates…
  7. Q2 2013 EARNINGS CALL – YPF S.A. – slide 7
    Q2 2013 Upstream Results - Production Downward trend in production seen in recent years continues to revert; crude oil and natural gas production for the quarter above previous two quarters. Crude oil production (kbbl/d) Natural…
  8. Q2 2013 EARNINGS CALL – YPF S.A. – slide 8
    Q2 2013 Upstream Results - Activity Increase in activity according to plan. Drilling Rigs (1) Workover (1) +71% 84 60 82 58 73 +140% 70 52 69 46 62 42 36 49 25 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 jul-13 Q1…
  9. Q2 2013 EARNINGS CALL – YPF S.A. – slide 9
    Q2 2013 Downstream Results Increased Operating Income by 40,4% despite impact from the La Plata Refinery incident. In million of ARS 4,670 -3,552 -429 1,210 862 -329 -8 -4 Q2 2012 Revenues Purchases Production SG&A DD&A…
  10. Q2 2013 EARNINGS CALL – YPF S.A. – slide 10
    Q2 2013 Downstream Results - Sales Maintained local marketshare even with lower crude processed Crude processed (kbbl/d) Domestic sales of refined products (Km3) 289 -15.9% 3,872 -1.4% 3,819 Others 243 LPG Fuel Oil Jet fuel…
  11. Q2 2013 EARNINGS CALL – YPF S.A. – slide 11
    Q2 2013 Downstream Results - La Plata Refinery Update Impressive efforts from Downstream business team to control fire and successfully restore production ahead of schedule. After a week we were processing 100 Kbbl/d, and before the…
  12. Q2 2013 EARNINGS CALL – YPF S.A. – slide 12
    Q2 2013 Capex(1) Upstream 6,510 Neuquina basin: Loma La Lata +90.8% (conventional and unconventional), Chihuido Sierra Negra and Catriel Golfo San Jorge basin: Manantiales Behr, El Trebol and 3,412 Los Perales Downstream…
  13. Q2 2013 EARNINGS CALL – YPF S.A. – slide 13
    Agenda 1 Q2 2013 Results 2 Financial Situation 3 Shale Development Agreement 4 Summary
  14. Q2 2013 EARNINGS CALL – YPF S.A. – slide 14
    Q2 2013 Financial Situation Issued ARS 4.6bn notes in the local market during Q2 2013 (ARS 7.2bn year to date, totaling ARS 16.5bn since Q2 2012), while maintaining a cash cushion of over ARS 5 bn. Strong and unlevered balance sheet…
  15. Q2 2013 EARNINGS CALL – YPF S.A. – slide 15
    Agenda 1 Q2 2013 Results 2 Financial Situation 3 Shale Development Agreement 4 Summary
  16. Q2 2013 EARNINGS CALL – YPF S.A. – slide 16
    Chevron agreement: summary terms Partners YPF 50% and Chevron 50% Area Exploitation of the concession that unifies the areas of Loma La Lata Norte and Loma Campana targeting Vaca Muerta formation for 35 years Initial 300 MUSD at…
  17. Q2 2013 EARNINGS CALL – YPF S.A. – slide 17
    Chevron agreement: description of project YPF Unconventional activity Development area Project More than 100 wells drilled Pilot consisting of 130 wells 12.4 Kboe/d in July 2013 (20 Km2) Oil: 7.6 Kbbl/d Full development program of…
  18. Q2 2013 EARNINGS CALL – YPF S.A. – slide 18
    Agenda 1 Q2 2013 Results 2 Financial Situation 3 Shale Development Agreement 4 Summary
  19. Q2 2013 EARNINGS CALL – YPF S.A. – slide 19
    Summary Healthy margins and market share in spite of the La Plata Refinery incident Reverted production downtrend Volume and price increases in core products Natural gas renewed focus with higher well head prices Strong financial…
  20. Q2 2013 EARNINGS CALL – YPF S.A. – slide 20
    2nd Quarter 2013 Earnings Webcast Questions and Answers
  21. Q2 2013 EARNINGS CALL – YPF S.A. – slide 21
    2nd Quarter 2013 Earnings Webcast August 12, 2013

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