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Q2 2015 Opportunity Day – PTTEP

PTTEP · Aug 15, 2015 · 32 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 2015 Opportunity Day – PTTEP – slide 1
    PTT Exploration and Production Public Company Limited Q2 2015 Opportunity Day Stock Exchange of Thailand 13 August 2015
  2. Q2 2015 Opportunity Day – PTTEP – slide 2
    Safety Safety Industry Update Financial Results Outlook 2/20
  3. Q2 2015 Opportunity Day – PTTEP – slide 3
    1H 2015 Safety Highlights Emphasis on safety in all areas of operations underlines excellent track record Above Industry Average Safety Record of incidents per million man hours Industry Benchmark PTTEP 0.5 0.18 0.0 2009…
  4. Q2 2015 Opportunity Day – PTTEP – slide 4
    Industry Update Safety Industry Update Financial Results Outlook 4/20
  5. Q2 2015 Opportunity Day – PTTEP – slide 5
    Oil Prices Oil prices recovering from Q1 lows, but downward pressure remains Brent Brent Forward Curve US / Barrel Dubai Min-Max Brent 2Q Highlights Analyst Consensus* 120 Decreased US Rig Counts and drawdown 2015 consensus 110 Q3…
  6. Q2 2015 Opportunity Day – PTTEP – slide 6
    Thailand Updates Gas demand continues to grow, and upstream energy reform makes progress Gas Consumption Thai Upstream Energy Reform Monthly Gas Consumption by Year Expiring According to National Energy Policy Office MMSCFD…
  7. Q2 2015 Opportunity Day – PTTEP – slide 7
    1H 2015 Financial Results Safety Industry Update Financial Results Outlook 7/20
  8. Q2 2015 Opportunity Day – PTTEP – slide 8
    Summary of Q2 2015 Financial Results Lower NI primarily from non-recurring items Unit : MMUSD Statement of Income Q1 15 Q2 15 % QoQ Q2 14 ** % YoY 6M 15 6M 14 ** % YTD Total Revenues 1,497 1,486 (1) 2,105 (29) 2,976 3,928 (24) Sales…
  9. Q2 2015 Opportunity Day – PTTEP – slide 9
    Sales Volume & Unit Costs Price stability and healthy cash margin amidst volatile environment Sales Volume and Price Unit Cost /BOE BOED 321,886 326,335 50 C 292,629 307,623 43.60 C 300,000 26,539 21,414 41.49 41.08 17,559 25,611…
  10. Q2 2015 Opportunity Day – PTTEP – slide 10
    Cash Flow Performance Robust liquidity to fund CAPEX and debt service Cash Flow Performance Source & Use of Funds in 1H 2015 MMUSD KBOED MMUSD Sales Volume (RHS) 5,000 500 5,000 4,330 4,000 3,675 4,000 400 3,000 322 326 3,000…
  11. Q2 2015 Opportunity Day – PTTEP – slide 11
    Financial Position Healthy balance sheet with low gearing ratio MMUSD Capital Structure D/E Ratio 25,000 23,287 22,359 1.00 21,572 20,000 6,510 5,537 0.80 5,830 15,000 4,023 4,229 4,183 0.60 10,000 0.40 0.34 0.34 0.33 5,000…
  12. Q2 2015 Opportunity Day – PTTEP – slide 12
    Net income breakdown Net income hurt by FX impact and oil price decrease Net Income Breakdown MMUSD by recurring and non-recurring items Core performance effected by low oil price 1,000 NI: 940 Recurring NI: 929 1H 2015 Recurring Net…
  13. Q2 2015 Opportunity Day – PTTEP – slide 13
    Dividends Dividend Payment History ( Policy : No Less Than 30% of Net Income) 1H 2H THB per share 5.80 6.00 6.00 5.40 4.50 3.00 3.00 4.00 2.79 1.50 2.00 2.61 2.80 3.00 3.00 1.00 0.00 2011 2012 2013 2014 2015 Payout Ratio…
  14. Q2 2015 Opportunity Day – PTTEP – slide 14
    Outlook Safety Industry Update Financial Results Outlook 14/20
  15. Q2 2015 Opportunity Day – PTTEP – slide 15
    Revisiting 2015 Priorities Deliver operational excellence, cost savings and project development as planned 2015 Priorities 1st Half Recap 2nd Half Focus +6% Revised growth outlook on Deliver sales volume domestic economy and increase…
  16. Q2 2015 Opportunity Day – PTTEP – slide 16
    Project development candidates deliver near-term growth and reassess feasibility of medium-long term prospects 2015 2016 2017 2018 2019+ Algeria Bir Seba Expected project startups Prospective FID Window: FID Window: Contract 4…
  17. Q2 2015 Opportunity Day – PTTEP – slide 17
    SAVE to be SAFE Update Groundwork set for cost performance improvement 600 MMUSD reduction identified in 2015 Positive cost reduction trend supported by Unit : MMUSD efficiency improvement through Operating expenditure reduction…
  18. Q2 2015 Opportunity Day – PTTEP – slide 18
    LEAP through the 30-Year Journey Reinforcing the passion to achieve sustainable growth LEARN ENHANCE ADVANCE From non-operating to operator Emerging national Proven domestic E&P Recognized 20 projects operated globally, successes in…
  19. Q2 2015 Opportunity Day – PTTEP – slide 19
    LEAP through the 30-Year Journey Reinforcing the passion to achieve sustainable growth LEARN ENHANCE ADVANCE PROGRESS Emerging national E&P company Proven domestic E&P operator Recognized internationally Surpass industry…
  20. Q2 2015 Opportunity Day – PTTEP – slide 20
    Thank You and Q&A Exploring new horizons, we take every step as learning For more information, please visit our website at http://www.pttep.com OR Contact us via email address at IRpttep.com OR Call us at +66 2 537 4000…
  21. Q2 2015 Opportunity Day – PTTEP – slide 21
    Supplementary Index 1. Industry 2. Detailed Financial Information 3. Project Details 4. Organization Structure 5. Ratios & Formula 21/20
  22. Q2 2015 Opportunity Day – PTTEP – slide 22
    Industry Costs Sharp fall in capital costs and rig utilization Cost Index vs. Brent (2005 2015 Q2) Onshore U.S. Rig Count (YTD 19 months) INDEX UCCI UOCI Brent /BBL 2000 120 250 150 1600 100 Horizontal Rig* (100 Base year 2000)…
  23. Q2 2015 Opportunity Day – PTTEP – slide 23
    2015 1H M&A Recap Uncertainty of oil price outlook creates disconnect between buyers and sellers Global Upstream M&A Deal Value Deal Value Distribution by Region million Total upstream M&A during 1H 2015 valued at 22bn excluding…
  24. Q2 2015 Opportunity Day – PTTEP – slide 24
    PTTEP Sales Volume and Average Product Price Price stability amidst volatile environment Sales Volume BOED Q2 2015 321,886 327,145 325,534 315,810 326,335 Sales Volume 307,263 300,000 26,539 19,807 23,004 26,347 21,414 25,611…
  25. Q2 2015 Opportunity Day – PTTEP – slide 25
    Operating Performance Slight QoQ increase in unit cost from exploration write-off and higher maintenance cost /BOE 50 *43.60 41.95 43.40 *41.49 40.19 41.08 40 Cash Cost 30 21.78 21.90 21.41 Unit Cost 20 15.46 17.45 16.46 10…
  26. Q2 2015 Opportunity Day – PTTEP – slide 26
    Financial Performance : Income Statement Healthy EBITDA margin Q1 15 Q2 15 Q2 14 ** 6M 15 6M 14 ** Sales Revenue * (MMUSD) 1,470 1,466 1,980 2,937 3,792 EBITDA (MMUSD) 1,084 1,022 1,409 2,106 2,677 Net Profit (MMUSD) 264 35 560 299…
  27. Q2 2015 Opportunity Day – PTTEP – slide 27
    Financial Performance : Balance Sheet Healthy balance sheet with low gearing ratio Q1 15 Q2 15 Q2 14 ** 6M 15 6M 14 ** Total Assets (MMUSD) 23,353 22,359 22,877 22,359 22,877 - Cash & cash equivalents (MMUSD) 3,959 2,956 3,211 2,956…
  28. Q2 2015 Opportunity Day – PTTEP – slide 28
    Project Information 1/4 Production Phase: Thailand and JDA Project Status* PTTEPs Partners 6M 2015 Average Sales Volume ** 2015 Key Activities Share (as of Q2 2015) Gas Oil and Other Production Phase Thailand and JDA 1 Arthit OP 80%…
  29. Q2 2015 Opportunity Day – PTTEP – slide 29
    Project Information 2/4 Production Phase: Overseas Project Status* PTTEPs Share Partners 6M 2015 Average Sales Volume ** 2015 Key Activities (as of Q2 2015) Gas Oil and Other Production Phase Overseas 16 Oman 44 OP 100% 21 MMSCFD…
  30. Q2 2015 Opportunity Day – PTTEP – slide 30
    Project Information 3/4 Development & Exploration Phase Project Status* PTTEPs Partners 2015 Key Activities Share (as of Q2 2015) Development Phase : Overseas 24 Algeria 433a & JOC 35% PetroVietnam 40% Continue Engineering,…
  31. Q2 2015 Opportunity Day – PTTEP – slide 31
    Project Information 4/4 Exploration Phase Project Status* PTTEPs Partners 2015 Key Activities Share (as of Q2 2015) Exploration Phase (cont) Overseas (cont) 30 Myanmar M11 OP 52.9412 % TOTAL 47.0588% 31 Vietnam B & 8.5% Chevron…
  32. Q2 2015 Opportunity Day – PTTEP – slide 32
    Organizational Structure Ensuring Transparency, Integrity, and Good Corporate Governance practices Board of Directors Nominating Committee Corporate Governance Committee Remuneration Committee Audit Committee Risk Management…

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