2015 First-half summary GLNG on schedule and budget Operating efficiencies and cost savings Safety Top quartile industry performance performance No lost time injuries in 2015 to date Operational Production up 13% to 28.3 mmboe…
Operating efficiencies and Repositioning the company in a low oil price cost savings environment Production up 13% Capital expenditure down 55% Unit production costs down 11% mmboe A million /boe 28.3 1,862 15.3 25.0 13.7 845…
Oil market Current market over supplied, however in the medium term new oil supply will be required to meet ongoing demand growth and offset natural decline World oil demand and supply growth Current market remains oversupplied…
Safety performance Top quartile industry performance No lost time injuries in 2015 to date Safety performance (employees and contractors) Rate per million Work hours hours worked (million) 2 1.9 60 50 1.2 40 1.1 1 0.9 30…
2015 Half-year results Financial summary Andrew Seaton Chief Financial Officer Methane Spirit, 100th LNG cargo departed PNG LNG on 12 June 2015
Financial performance EBITDAX down 5% to 900 million Net profit of 37 million, reflecting significantly lower global oil prices, higher exploration expense and higher effective tax rate Higher sales volumes more than offset by…
Production Highest first-half production since 2007 Production First half production up 13% mmboe PNG LNG and Darwin LNG 30 28.3 producing above expectations 25.4 24.5 25.0 Higher Cooper gas production 25 22.9 LNG growth 20 1H15…
Sales revenue Sales revenue impacted by significantly lower oil prices First-half First-half Robust sales gas and ethane revenue million % 2015 2014 reflects sound domestic gas business and Sales Revenue (incl. third party)…
Production costs Cost savings in the base business drive production costs down 10% Unit production cost per boe down 11% to 13.70 First-half First-half % million Base business production costs down 2015 2014 10% Production costs…
Operating efficiencies and Repositioning the company in a low oil price environment cost savings Three clear priorities Production growth and project delivery Contract rate reductions in 1H 2015 Guidance of 5-18% production growth…
Operating cash flow Operating cash flow of 532 million, down 28% Forecast free cash flow positive in 2016 at US45-50/bbl oil at AUD/USD of 70-75 cents Operating cash flow Reconciliation of operating cash flow million million 800…
Capital expenditure Capex of 845 million1 in 1H 2015 Full year guidance of 2 billion is maintained Full-year capital expenditure1 Breakdown of 1H 2015 capital expenditure1 Abillion 4 Exploration 4.1 200m 3.6 Other EA2 WA&NT 3 59m…
Balance sheet and Net debt A8.8 billion impacted by weaker AUD/USD funding exchange rate Net debt Majority of debt denominated Amillion in USD 10,000 Depreciation in AUD/USD 9,000 1,264 75 exchange rate in 1H2.1 2015 (532) 494…
Balance sheet and 2.2 billion in liquidity funding Minimal debt maturities until 2017 Debt maturity profile Notes mature in 2070, with Santos A2.2 billion in cash and Amillion option to redeem in 2017 undrawn debt facilities as at…
Dividends Interim dividend of 15 cents per share, fully-franked DRP discount 2.5%, fully underwritten Fully-franked dividends declared per share Interim dividend 15 cents per Cents per share share fully-franked 40 DRP discount 2.5% for…
2015 Half-year results David Knox Managing Director and Chief Executive Officer LNG Plant, Curtis Island, 15 July 2015
Santos LNG growth Leveraging existing and new LNG infrastructure and capabilities LNG sales revenue up 157% Producing ahead of expectations Amillion Bayu Undan Phase 3 delivered 1H15 Darwin LNG 500 Expansion and backfill…
GLNG project update On track for first LNG around the end of the third quarter of 2015, within US18.5 billion budget GLNG provides positive free cash flow at US40/bbl oil Surface LNG plant Gas supply facilities & and port…
GLNG upstream Significant cost improvements across GLNG upstream efficiencies and cost savings Project delivery Roma drilling costs Flowline and connection costs Forecast cost vs budget (%) Cost comparison per year (%) Cost comparison…
GLNG downstream Feed gas introduced into Train 1 On track for first LNG around the end of the third quarter of 2015 Refrigerant loading Utilities commissioned almost complete and operational Wet and dry flares commissioned…
Exploration Focus on infrastructure-led exploration Bestari 1 oil discovery Deepwater Block R Production Sharing Contract 67 metres of net oil pay with good porosity and permeability Planning underway for appraisal in late-2015…
2015 First-half summary Repositioning the company in a low oil price environment Operating Cost Savings LNG growth excellence Sound operating Unit production costs down GLNG on track for first LNG performance 11%, below…
Reference slides 21 August 2015 Production and processing platform, Bayu Undan
Significant items after tax million Half-year 2015 Half-year 2014 Net profit after tax 37 206 Add/(deduct) significant items Redundancy / restructuring costs 10 - Net impairments - 67 Other (15) (15) Underlying profit 32…
2015 guidance All guidance for 2015 is maintained Item 2015 guidance Production 57-64 mmboe Production costs 14.2-14.6/boe DD&A expense 17.5-18.0/boe Capital expenditure (including exploration & evaluation)1 2 billion 1…
2015 Exploration schedule Exploration schedule complete for 2015 with success rate of 33% Well Name Basin / Area Target Santos Interest % Timing Hides-F1 (Hides Deep) Papuan PNG Gas 24 P&A Gaschnitz-2 Cooper SA Gas 66.6 Gas…
Contact information Head Office Adelaide Andrew Nairn Ground Floor, Santos Centre Group Executive Investor Relations 60 Flinders Street Direct: + 61 8 8116 5314 Adelaide, South Australia 5000 Email: andrew.nairnsantos.com GPO Box…
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