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H1 2016 Earnings Call – Inpex Corp

Inpex Corp · Nov 11, 2015 · 27 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. H1 2016 Earnings Call – Inpex Corp – slide 1
    INPEX CORPORATION Financial Results for the Six Months ended September 30, 2015 November 11, 2015
  2. H1 2016 Earnings Call – Inpex Corp – slide 2
    Agenda 1. Corporate Overview Toshiaki Kitamura Representative Director, President & CEO 2. Financial Results for the six months ended September 30, 2015 Masahiro Murayama Director, Managing Executive Officer Senior Vice…
  3. H1 2016 Earnings Call – Inpex Corp – slide 3
    Corporate Overview Toshiaki Kitamura Representative Director, President & CEO
  4. H1 2016 Earnings Call – Inpex Corp – slide 4
    FirstHalf FY 2016/03 Corporate Highlights (1/2) Halfyear Results Net sales 567.0 billion (14.5% decrease YoY) (Apr.2015 Sep.2015) Net income 45.4 billion (48.7% decrease YoY) Net Production 503 thousand BOED (28% increase YoY)…
  5. H1 2016 Earnings Call – Inpex Corp – slide 5
    FirstHalf FY 2016/03 Corporate Highlights (2/2) Continuous Enhancement of E&P Activities Existing projects Discovered oil in Deepwater Block R, Offshore East Malaysia (April) Acquired participating interest in ADCO Onshore…
  6. H1 2016 Earnings Call – Inpex Corp – slide 6
    Ichthys LNG Project (1/4) Updates Production Schedule and Raises LNG Production Capacity Production start: End December 2016 3rd quarter of 2017 CAPEX : Approx. 10% increase LNG production capacity: Approx.8.4 million t/y Approx.…
  7. H1 2016 Earnings Call – Inpex Corp – slide 7
    Ichthys LNG Project (2/4) LNG storage tank (July/2015) FPSO Module Lifting (Sep./2015) (April/2015, Darwin) Proved reserves: Approx. 970 million BOE (Based on INPEXs participating interest of 62.245%) Production volume:…
  8. H1 2016 Earnings Call – Inpex Corp – slide 8
    Ichthys LNG Project (3/4) Offshore Facilities Major works for Offshore Facilities done since FID and plans up to the third quarter of 2017 2012 2013 2014 2015 2016 2017 (Jan.Sep.) Detailed engineering / procurement Installation of…
  9. H1 2016 Earnings Call – Inpex Corp – slide 9
    Ichthys LNG Project (4/4) Onshore Facilities Major works for Onshore Facilities done since FID and plans up to the third quarter of 2017 2012 2013 2014 2015 2016 2017 (Jan.Sep.) Detailed engineering / procurement Fabrication of LNG…
  10. H1 2016 Earnings Call – Inpex Corp – slide 10
    Abadi LNG Project Submitted to the Indonesian government a revised Plan of Development (Revised POD) in September 2015 Revised POD envisions FLNG plant with 7.5 million t/y Revised POD is under discussion with the Indonesian…
  11. H1 2016 Earnings Call – Inpex Corp – slide 11
    FirstHalf FY 2016/03 Topics Progress of the existing projects (Results in the 1st. half of FY 2016/03) Abu Dhabi : Acquired Japan : Discovered oil in participating interest in ADCO MinamiKuwayama Oil Onshore Concession in…
  12. H1 2016 Earnings Call – Inpex Corp – slide 12
    Net Production* (April September 2015) 600 503 500 5% (Thousand BOED) 400 395 5% 48% 300 42% Main increase factor Acquisition of participating interest in 6% 200 6% the ADCO Onshore Concession in Abu Dhabi. 36%…
  13. H1 2016 Earnings Call – Inpex Corp – slide 13
    Responding to Lower Oil Prices (1/2) FY2015 investments versus FY2016 & FY2017 investment forecast 12,000 11,250 11,000 10,000 9,381 9,030 8,850 9,000 (USD Millions) 8,000 7,000 6,000 9,900 5,000 8,464 8,240…
  14. H1 2016 Earnings Call – Inpex Corp – slide 14
    Responding to Lower Oil Prices (2/2) Production cost per Barrel of Oil Equivalent* Production cost per Barrel reduced as a result of improving 12.0 operational efficiency as well as investment cut/postponement 11.2 20%30%…
  15. H1 2016 Earnings Call – Inpex Corp – slide 15
    Financial Results for the six months ended September 30, 2015 Masahiro Murayama Director, Managing Executive Officer Senior Vice President of Finance & Accounting Division
  16. H1 2016 Earnings Call – Inpex Corp – slide 16
    Highlights of the Consolidated Financial Results for the six months ended September 30, 2015 Apr.Sep. 14 Apr.Sep. 15 Change %Change Net sales (Billions of yen) 663.1 567.0 (96.1) (14.5%) Crude oil sales 437.6 396.8 (40.7) (9.3%)…
  17. H1 2016 Earnings Call – Inpex Corp – slide 17
    Crude Oil Sales Apr.Sep. 14 Apr.Sep. 15 Change %Change Net sales (Billions of yen) 437.6 396.8 (40.7) (9.3%) Sales volume (thousand bbl) 40,048 57,805 17,757 44.3% Average unit price of overseas 105.75 56.52 (49.23) (46.6%)…
  18. H1 2016 Earnings Call – Inpex Corp – slide 18
    Natural Gas Sales (excluding LPG) Apr.Sep. 14 Apr.Sep. 15 Change %Change Net sales (Billions of yen) 205.8 157.7 (48.1) (23.4%) Sales volume (million cf) 152,056 160,634 8,577 5.6% Average unit price of overseas 12.78 7.23 (5.55)…
  19. H1 2016 Earnings Call – Inpex Corp – slide 19
    Analysis of Net Sales Decrease (Billions of Yen) 1,000 Crude Oil (293.9) Natural Gas (including LPG) (81.6) 900 202.7 Crude Oil +59.9 800 Natural Gas (including LPG) +18.6 700 600 78.6 500 (1.8) (375.5) 400 Crude Oil…
  20. H1 2016 Earnings Call – Inpex Corp – slide 20
    Statement of Income (Billions of Yen) Apr.Sep. 14 Apr.Sep. 15 Change %Change Increase in sales volume : +202.7 Decrease in unit price : (375.5) Exchange rate Net sales 663.1 567.0 (96.1) (14.5%) (Depreciation of Yen) : +78.6 Others :…
  21. H1 2016 Earnings Call – Inpex Corp – slide 21
    Other Income/Expenses (Billions of Yen) Apr.Sep. 14 Apr.Sep. 15 Change %Change Other income 30.1 39.8 9.6 32.1% Interest income 5.3 4.2 (1.0) (20.3%) Dividend income 2.2 2.5 0.2 11.0% Gain on sales of marketable securities 4.6…
  22. H1 2016 Earnings Call – Inpex Corp – slide 22
    Analysis of Net Income Decrease (Billions of Yen) () 350 300 202.7 250 200 150 100 7.9 50 88.7 58.4 78.6 5.0 45.4 0 0.4 (1.8) (15.7) 50 (3.3) 100 (375.5) 150 Net income Increase Decrease in Exchange rate Others…
  23. H1 2016 Earnings Call – Inpex Corp – slide 23
    Balance Sheet (Billions of yen) Mar. 15 Sep. 15 Change %Change Available fund (Billions of yen) 769.0* Current assets 1,342.4 959.8 (382.5) (28.5%) Breakdown Cash and deposits : 641.6 Tangible fixed assets 1,497.6 1,683.0 185.4…
  24. H1 2016 Earnings Call – Inpex Corp – slide 24
    Statement of Cash Flows (Billions of Yen) Apr.Sep. 14 Apr.Sep. 15 Change %Change Income before income taxes 368.4 258.8 (109.6) (29.8%) Depreciation and amortization 25.6 35.1 9.4 37.0% Recovery of recoverable accounts under…
  25. H1 2016 Earnings Call – Inpex Corp – slide 25
    Financial Indices Net Debt/Total Capital Employed (Net)* Equity Ratio** Mar.15 Sep.15 68.2% 67.5% (16.8%) (1.2%) Mar.15 Sep.15 Maintain sound financial indices Increase available funds by external loans to D/E Ratio***…
  26. H1 2016 Earnings Call – Inpex Corp – slide 26
    Differences between Consolidated Financial Forecasts and Actual Results for the six months ended September 30, 2015 Assumptions (August 7, 2015) 1st half (Previous Forecasts) Crude oil price (Brent) (US/bbl) 61.8 Exchange rate…
  27. H1 2016 Earnings Call – Inpex Corp – slide 27
    Revisions of Financial Forecasts for the year ending March 31, 2016 Assumptions (August 7, 2015) 1st half 2nd half Full year Crude oil price (Brent) (US/bbl) 61.8 60.0 60.9 Exchange rate (yen/US) 120.7 120.0 120.4 (November 10,…

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