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Q1 2015 EARNINGS CALL – Tethys Oil

Tethys Oil · May 5, 2015 · 22 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 2015 EARNINGS CALL – Tethys Oil – slide 1
    Q1 2015 5 May 2015
  2. Q1 2015 EARNINGS CALL – Tethys Oil – slide 2
    Q1 Highlights New production record during Q1. Average daily production 8,714 bopd up 4% compared to Q4-14 March Blocks 3 and 4 production 9,154 bopd Net sales of MSEK 163, down 47% compared to Q4-14 EBITDA of MSEK 76, down 62%…
  3. Q1 2015 EARNINGS CALL – Tethys Oil – slide 3
    Tethys assets Country Licence Area, Tethys Partners* 2P reserves Production km2 share 31 Dec 2014 Q1 2015 (mmbo) (bopd) Producing Assets Oman Block 3 & 4 34,610 30% CC Energy, Mitsui 17.8 8,604 Lithuania Gargzdai 884 25% Odin Energi,…
  4. Q1 2015 EARNINGS CALL – Tethys Oil – slide 4
    Reserves Reserves Oman (31 Dec 2014, mmbo) mmbo 1P 2P 3P Farha South 8.3 11.2 13.3 Saiwan East 0.5 1.3 2.9 Lower Buah area 3.0 5.3 8.9 Total 11.8 17.8 25.1 Independent petroleum consultant DeGolyer and MacNaughton (D&M) reviews Tethys…
  5. Q1 2015 EARNINGS CALL – Tethys Oil – slide 5
    Average daily production in Oman 10 000 9 154 9 000 8 451 8 163 8 000 7 000 6 000 5 000 4 000 3 000 2 000 1 000 0 July April May September October November December January January…
  6. Q1 2015 EARNINGS CALL – Tethys Oil – slide 6
    Production Barrels BOPD Barrels BOPD 3 000 000 2 804 239 9 000 900 000 10 000 772 722 768 226 784 207 9 000 8 000 800 000 2 500 000 7 000 8 000 700 000 658 123 608 582 7 000 2 000 000 6 000 600 000 1 709 706 6 000 5 000 500…
  7. Q1 2015 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 1 200 000 350 059 350 000 308 892 1 000 000 300 000 280 782 850 926 776 248 800 000 250 000 600 000 200 000 150 000 400…
  8. Q1 2015 EARNINGS CALL – Tethys Oil – slide 8
    Sales MSEK MSEK MSEK 1 200 350 1 046 310 296 300 1 000 245 250 800 195 200 584 592 600 163 150 400 100 200 50 0 0 2012 2013 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Sales of oil and gas Sales of oil and…
  9. Q1 2015 EARNINGS CALL – Tethys Oil – slide 9
    Average selling price per barrel USD/bbl USD/bbl 115,0 110,0 106,6 107,6 105,0 105,9 100,0 97,1 110,4 95,0 110,0 90,0 85,0 106,6 80,0 105,0 75,0 103,9 70,0 65,0 63,8 100,0 60,0 2012 2013 2014 Q1 2014 Q2 2014 Q3 2014 Q4…
  10. Q1 2015 EARNINGS CALL – Tethys Oil – slide 10
    EBITDA MSEK MSEK 250 90% 800 753 232 78% 78 % 80% 700 200 200 192 70% 600 67% 65% 509 60% 500 479 150 130 50% 400 46% 40% 100 300 76 30% 200 20% 50 100 10% 0 0 0% 2012 2013 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015…
  11. Q1 2015 EARNINGS CALL – Tethys Oil – slide 11
    Expenses MSEK MSEK 350 120 8 300 100 31 250 80 9 200 60 6 8 31 150 8 102 264 40 28 75 100 59 57 152 46 50 20 96 0 0 2012 2013 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Operating expenses Administrative expenses…
  12. Q1 2015 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 44,4 43,2 43,4 34,5 45,5 41,3 30,0 41,0 30,0 19,9 20,0 20,0 10,0 10,0 16,0 14,1 11,0 11,8 12,5 13,3 11,9 13,0 0,0 0,0 2012…
  13. Q1 2015 EARNINGS CALL – Tethys Oil – slide 13
    Net result after tax MSEK MSEK 400 180 167 350 160 350 314 140 300 120 250 240 107 100 200 80 150 58 60 100 39 40 50 18 20 0 0 2012 2013 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Result for the period Result for the…
  14. Q1 2015 EARNINGS CALL – Tethys Oil – slide 14
    Balance Sheet Q1 2015 (MSEK) 2015-03-31 2014-12-31 Cash 400 372 Long term liabilities 29* 25* Net cash 371 347 Total assets 2,061 1,816 Shareholders equity 1,888 1,675 Strong cash position of MSEK 400 The MUSD 100 senior…
  15. Q1 2015 EARNINGS CALL – Tethys Oil – slide 15
    Oil and gas investments MSEK MSEK 600 140 131 493 120 101 100 400 80 290 69 259 60 45 45 200 40 20 0 0 2012* 2013 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Oil and Gas Investments Oil and Gas Investments…
  16. Q1 2015 EARNINGS CALL – Tethys Oil – slide 16
    Wells in Oman 45 16 15 40 39 37 14 35 35 12 12 11 30 10 25 8 8 20 6 15 4 4 10 5 2 0 0 2012 2013 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Wells drilled Wells drilled 11 wells drilled in Q1 2015 4 wells on Farha…
  17. Q1 2015 EARNINGS CALL – Tethys Oil – slide 17
    Cash flow Blocks 3 and 4 2015 investment budget is being adjusted to account for movement in oil prices. Increased focus on drilling Blocks 3 and 4 investments expected to be covered from cash flow from operations Total cash flow…
  18. Q1 2015 EARNINGS CALL – Tethys Oil – slide 18
    Block 3 and 4 overview 18
  19. Q1 2015 EARNINGS CALL – Tethys Oil – slide 19
    Farha South field, 31 March 2015 19
  20. Q1 2015 EARNINGS CALL – Tethys Oil – slide 20
    Shahd Oil field Producing areas Prospects / prospective areas 20
  21. Q1 2015 EARNINGS CALL – Tethys Oil – slide 21
    Outlook Oil price currently fairly stabile at around USD 60 per barrel Continued significant investments on Block 3 and 4 The drill bit activity to pick up further four drill rigs and one workover rig planned to be in operation by…
  22. Q1 2015 EARNINGS CALL – Tethys Oil – slide 22
    Q1 2015 5 May 2015

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