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Q2 2015 Results – Dno International Asa

Dno International Asa · Aug 20, 2015 · 19 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 Results – Dno International Asa – slide 1
    Interim Presentation Second Quarter 2015 Fourth Quarter 2014 Interim Presentation 4 February 2015
  2. Q2 2015 Results – Dno International Asa – slide 2
    Operational review and forward strategy Page 2 20 August 2015 Second Quarter 2015 Interim Presentation
  3. Q2 2015 Results – Dno International Asa – slide 3
    Operational review Q2 2015: strong operations metrics Record gross production in Q2 2015 of 162,422 barrels of oil equivalent per day (boepd), of which company working interest (CWI) production was 99,613 boepd, up 37 percent from…
  4. Q2 2015 Results – Dno International Asa – slide 4
    Operational review CWI production Kurdistan local sales and Tawke refinery Kurdistan deliveries at Fish Khabur for pipeline export Oman Yemen 100,000 781 86,322 5,149 90,000 80,000 68,958 70,000 2,705 boepd 60,000…
  5. Q2 2015 Results – Dno International Asa – slide 5
    Operational review Other than Tawke expansion, 2015 has been a year of consolidation and rationalization DNO acted early and quickly to consolidate operations in response to dramatic drop in oil prices and lower sales into the…
  6. Q2 2015 Results – Dno International Asa – slide 6
    Operational review Now poised for resumption of growth in 2016: Four-pronged strategy Appraise and develop existing Normalize asset base Kurdistan payments and recover receivables New country entries Resume Tawke…
  7. Q2 2015 Results – Dno International Asa – slide 7
    Operational review Normalize payments for Tawke production and recover outstanding Kurdistan receivables Value of current Tawke production around USD 175 million per month Revenues from local market sales including refined…
  8. Q2 2015 Results – Dno International Asa – slide 8
    Operational review Though irregular, DNO has in fact received considerable payments from Kurdistan operations Since commencement of Tawke production, DNO has received USD 1.24 billion in net payments in Kurdistan, of which USD 1.0…
  9. Q2 2015 Results – Dno International Asa – slide 9
    Operational review Tawke 200,000 project completed but new investments necessary and revenue driven New 24 pipeline Tie-in to export system Truck loading station Truck loading station Ramped up Tawke production,…
  10. Q2 2015 Results – Dno International Asa – slide 10
    Operational review High-grading portfolio with plans to drill Acquiring and processing seismic across portfolio to prepare for stepped up drilling in 2016 New development well considered at Omans Block 8 to increase oil and gas…
  11. Q2 2015 Results – Dno International Asa – slide 11
    Operational review New country entries Among MENA countries under consideration, Iran offers interesting opportunities at such time as international sanctions are removed DNO uniquely well placed as it operates oil and gas…
  12. Q2 2015 Results – Dno International Asa – slide 12
    Financial review Page 12 20 August 2015 Second Quarter 2015 Interim Presentation
  13. Q2 2015 Results – Dno International Asa – slide 13
    Financial review DNO financial results key figures Revenues Netback Operating profit USD million USD million USD million 160 105 101 270 143 230 140 85 190 120 116 150 65 110 100 42 45 70 55 80 80 30 25 10 -10 Q2 14…
  14. Q2 2015 Results – Dno International Asa – slide 14
    Financial review Financial summary USD million Q2 2015 Q1 2015 Q2 2014 YTD 2015 YTD 2014 Sales 54.8 26.0 143.4 80.8 256.2 Cost of goods sold -65.7 -61.8 -78.9 -127.5 -150.0 Gross profit -10.9 -35.8 64.5 -46.7 106.2…
  15. Q2 2015 Results – Dno International Asa – slide 15
    Financial review Investment program Capex and capitalized exploration USD million Kurdistan Oman Yemen UAE Tunisia Other 97.4 100 80 62.5 60 52.1 40 35.3 20 13.3 0 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015…
  16. Q2 2015 Results – Dno International Asa – slide 16
    Financial review Successful completion of bond issue Transaction Details Issued USD 400 million of new, five-year senior unsecured bonds on 18 June 2015 Prepayment of all previously issued bonds for a total of USD 140 million and…
  17. Q2 2015 Results – Dno International Asa – slide 17
    Financial review Q2 2015 cash flow USD million Trade and other payables reduced by USD 35.9 million paid in Q2 Local sales receivable stands at USD 118 million Increased cash balances due to new bond placement Page 17 20…
  18. Q2 2015 Results – Dno International Asa – slide 18
    Financial review Capital structure Cash deposits Financial assets Equity ratio USD million USD million 500 120 70% 450 450 104 59% 97 60% 57% 100 400 50% 50% 48% 350 80 300 39 % 63 40% 250 60 204 195 30% 200 166…
  19. Q2 2015 Results – Dno International Asa – slide 19

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