Highlights 2015 year to date Production 12.4 kboe/d Unit Operating Expenditure1 33/boe Cashflow from On-going Operations2 217M Net Drawn Debt 31 October 2015 690M Funding Headroom 125M Planned FPF-1 Sail-away End…
Solid year to date performance Production (kboe/d) Unit Operating Expenditure (/boe) Realised Hydrocarbon Price (/boe) 100 /boe 80 /boe2 12.4 kboe/d 10.6 kboe/d 52 /boe1 33 /boe2 16% 37% 20% YTD-2014 YTD-2015…
Cashflows underpinned by solid hedging position Oil Hedging Gas Hedging Strong protection in place against commodity price weakness 60M Future hedges 100M in the money, 50:50 oil and gas 96/bbl 26/bbl 69/bbl Prior to…
Financial results nine months to 30 September 2015 Financial Summary YTD-2015 YTD-2014 Revenue1 M 163.2 296.7 Production up 16%, but oil prices down 46% (from 106/bbl to 57/bbl) Hedging Cash Gain M 146.3 (1.5) 25/bbl hedging gains…
Lower net debt outlook prior to Stella start-up Deleveraging phase commenced Net Debt & Finance Facilities (M) Peak net debt prior to Stella start-up passed in H1-2015 950M Debt Facilities 30M capital expenditure savings in 2015…
Greater Stella Area development route to first hydrocarbons Development status Remaining key milestones Five Stella wells drilled, tested and Complete FPF-1 yard commissioning Q1-2016 ready to flow FPF-1 sail-away End Q1-2016 All…
FPF-1 modifications programme sail-away planned for end Q1-2016 Critical path for achieving FPF-1 sail-away is Commissioning programme progressing completion of vessel commissioning activities Electrical loop testing on process…
FPF-1 modifications programme Photo: FPF-1 in Remontowa shipyard, Gdansk, Poland ITHACA ENERGY Corporate Presentation 10
FPF-1 modifications programme Photo: FPF-1 main deck infrastructure ITHACA ENERGY Corporate Presentation 12
2015 key priorities delivering on a clear plan Production Maximise operational performance of all fields Stella Deliver milestones required to achieve start-up end Q2-2016 Operating expenditure Reduce cost base to enhance…
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