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Q4 2014 EARNINGS CALL – Tethys Oil

Tethys Oil · Feb 10, 2015 · 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. Q4 2014 EARNINGS CALL – Tethys Oil – slide 1
    Q4 2014 10 February 2015
  2. Q4 2014 EARNINGS CALL – Tethys Oil – slide 2
    Q4 Highlights Record net sales of MSEK 310, up 5% compared to Q3-14 EBITDA of MSEK 200, down 14% compared to Q3-14 due to timing related opex effects Net result negatively affected by a MSEK 127 write down related to Lithuanian…
  3. Q4 2014 EARNINGS CALL – Tethys Oil – slide 3
    Tethys assets Country Licence Area, Tethys Partners* 2P reserves Production km2 share 31 Dec 2014 Q4 2014 (mmbo) (bopd) Producing Assets Oman Block 3 & 4 34,610 30% CC Energy, Mitsui 17.8 8,236 Lithuania Gargzdai 884 25% Odin Energi,…
  4. Q4 2014 EARNINGS CALL – Tethys Oil – slide 4
    Reserves Reserves Oman Development of reserves (31 Dec 2014, mmbo) mmbo 1P 2P 3P mmbo 1P 2P 3P Farha South 8.3 11.2 13.3 Total 31 Dec 2013 10.8 15.2 20.0 Saiwan East 0.5 1.3 2.9 Production 2014 -2.8 -2.8 -2.8 Lower Buah area 3.0 5.3 8.9…
  5. Q4 2014 EARNINGS CALL – Tethys Oil – slide 5
    Average daily production in Oman 9 000 8 425 8 438 8 000 7 832 7 000 6 000 5 000 4 000 3 000 2 000 1 000 0 October November December May July April October November December September…
  6. Q4 2014 EARNINGS CALL – Tethys Oil – slide 6
    Production Barrels BOPD Barrels BOPD 3 000 000 9 000 900 000 9 000 8 000 800 000 8 000 2 500 000 7 000 700 000 7 000 2 000 000 6 000 600 000 6 000 5 000 500 000 5 000 1 500 000 4 000 400 000 4 000 1 000 000 3 000 300 000 3…
  7. Q4 2014 EARNINGS CALL – Tethys Oil – slide 7
    Sold barrels Barrels Barrels 1 600 000 500 000 1 464 228 450 000 434 035 1 400 000 399 352 400 000 1 200 000 350 059 350 000 1 000 000 300 000 280 782 850 926 271 175 776 248 800 000 250 000 600 000 200 000 150 000 400 000…
  8. Q4 2014 EARNINGS CALL – Tethys Oil – slide 8
    Sales MSEK MSEK MSEK 1 200 350 310 296 1 000 300 245 250 800 193 195 200 600 150 400 100 200 50 0 0 2012 2013 2014 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Sales of oil and gas Sales of oil and gas Net oil sales…
  9. Q4 2014 EARNINGS CALL – Tethys Oil – slide 9
    Average selling price per barrel USD/bbl USD/bbl 115,0 110,0 108,5 107,6 106,6 105,9 105,0 110,0 110,4 100,0 106,6 97,1 105,0 103,9 95,0 100,0 90,0 2012 2013 2014 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Ave selling…
  10. Q4 2014 EARNINGS CALL – Tethys Oil – slide 10
    EBITDA MSEK MSEK 800 753 250 78 90% 232 77% % 78% 700 80% 192 200 200 70% 600 509 67% 65% 479 148 60% 500 150 130 50% 400 40% 300 100 30% 200 50 20% 100 10% 0 0 0% 2012 2013 2014 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014…
  11. Q4 2014 EARNINGS CALL – Tethys Oil – slide 11
    Expenses MSEK MSEK 350 120 300 8 100 31 250 80 200 60 6 8 31 150 8 102 264 28 40 8 100 59 57 152 46 50 20 37 96 0 0 2012 2013 2014 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Operating expenses Administrative expenses…
  12. Q4 2014 EARNINGS CALL – Tethys Oil – slide 12
    Adjusted net back* and opex per barrel USD/bbl USD/bbl 70,0 60,0 60,0 50,0 50,0 40,0 40,0 41,9 43,4 44,4 43,2 35,6 45,5 41,3 41,3 30,0 30,0 20,0 20,0 10,0 10,0 14,1 14,5 11,9 12,5 14,9 11,9 12,69 11,0 0,0 0,0 2012 2013…
  13. Q4 2014 EARNINGS CALL – Tethys Oil – slide 13
    Net result after tax MSEK MSEK 400 180 167 350 350 160 314 140 300 240 120 107 250 100 200 80 150 58 60 45 100 40 18 50 20 0 0 2012 2013 2014 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Result for the period Result for the…
  14. Q4 2014 EARNINGS CALL – Tethys Oil – slide 14
    Balance Sheet Q4 2014 (MSEK) 2014-12-31 2014-09-30 2013-12-31 Cash 372 194 295 Long term liabilities 25* 33* 422 Net cash 347 161 -127 Total assets 1,816 1,619 1,563 Shareholders equity 1,675 1,547 1,100 Strong cash position of…
  15. Q4 2014 EARNINGS CALL – Tethys Oil – slide 15
    Oil and gas investments MSEK MSEK 600 120 493 101 100 79 400 80 73 290 259 60 45 44 200 40 20 0 0 2012* 2013 2014 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Oil and Gas Investments Oil and Gas Investments Majority of…
  16. Q4 2014 EARNINGS CALL – Tethys Oil – slide 16
    Wells in Oman 45 16 15 39 40 37 14 35 12 35 12 30 10 10 25 8 8 20 6 15 4 4 10 5 2 0 0 2012 2013 2014 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Wells drilled Wells drilled 4 wells drilled in Q4 2014, including, 2…
  17. Q4 2014 EARNINGS CALL – Tethys Oil – slide 17
    Block 3 and 4 overview 17
  18. Q4 2014 EARNINGS CALL – Tethys Oil – slide 18
    Farha South field Producing Fault Blocks at Farha South 18
  19. Q4 2014 EARNINGS CALL – Tethys Oil – slide 19
    Lower Buah area Production from 3 reservoire layers: Lower Buah Lower al Bashir Khufai Producing areas Prospects / prospective areas 19
  20. Q4 2014 EARNINGS CALL – Tethys Oil – slide 20
    Outlook Water injection launched in Lower Buah area New leads in the Lower Buah area continue to be identified Drilling focus on Lower Buah area at least one rig committed all year Seismic studies in other parts of the Blocks will…
  21. Q4 2014 EARNINGS CALL – Tethys Oil – slide 21
    Q4 2014 10 February 2015

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