Overview Neil Gibbins Acting Chief Executive Officer
H1 FY16 highlights Strengthened Cooper Basin platform through merger with Drillsearch All approvals obtained; integration to commence 1 March 2016 Ex PEL 91 oil production up 10% due to well connections and investment in…
H1 FY16 operations overview Production of 4.5 MMboe (-5%) Production Higher ex PEL 91 oil production (+10%) kboe H1 FY15 H1 FY16 % Gas well stock sustaining production Oil 2,420 2,277 (6%) Gas 1,975 1,904 (4%) Successful Windorah…
FY16 outlook Completion of Drillsearch integration Activities underpinned by High-grading of enlarged exploration four-pillar growth strategy portfolio; FY17 drilling program confirmed Western Flank field development activities…
Financial Kathryn Presser Chief Financial Officer
H1 FY16 financial overview Sales volumes of 5.1 MMboe (-11%) Half Year Comparison million Lower production and third party sales; 600 higher gas volumes to storage 500 Results impacted by 49% price decline1 Sales revenue: 272…
Sales revenue Lower revenue mainly driven by 49% decline in average US oil and liquids price 9
Underlying NPAT Underlying NPAT of 9.4 million, down million Underlying NPAT 88%, mainly due to: 158.1 160 49% reduction in average realised US oil and liquids price; and 120 Sale of higher-cost inventory, Partly offset by lower…
Impairments Area of interest approach for impairment Non-cash Impairments (Before Tax) testing Category million Impairments reflect lower oil prices and Producing interests 525 deferral of certain development plans Exploration…
Operations Mike Dodd Acting Chief Operating Officer
Production by area Area H1 FY15 H1 FY16 Change Cooper / Eromanga basins 2,370.2 2,189.2 (8%) Oil (kbbl) Egypt 49.5 87.8 77% Total oil 2,419.7 2,277.0 (6%) Cooper Basin 11.5 10.9 (5%) Sales gas and ethane (PJ) Egypt - 0.2 - LPG…
Operating results Production of 4.5 MMboe (-5%) Actual and Forecast Production MMboe Higher ex PEL 91 production and strong 10.0 9.6 gas performance broadly offset natural 9.1 8.0 8.6 field decline 8.0 8.0 Gas* Production mix:…
H1 FY16 capital expenditure and guidance Capital Expenditure Actual FY16 Guidance ( million) H1FY15 H1 FY16 Original Revised DEVELOPMENT Cooper Basin (non-SACB and SWQ JVs) 20 10 45 50 20 30 Cooper Basin (SACB and SWQ JVs) 150 83 145…
Windorah Trough program Five-well exploration program completed Five new field discoveries Results encouraging for further drilling in Greater Whanto Structure Fracture stimulation and flow testing of two exploration wells in H2…
Ex PEL 106 gas liquids Subsequent to period end, Middleton East-1 Ex PEL 106 (PRL 129 and 130) exploration well cased and suspended c.9 metres of gas pay over multiple zones Second well of campaign, Depps-1, plugged and abandoned…
Drillsearch Merger Update Neil Gibbins Acting Chief Executive Officer
Merger status and next steps A well supported transaction Integration to focus on cost reductions and portfolio optimisation Scheme of Arrangement Process Steps Post Implementation Confirm optimal organisation structure Agree…
Indicative integration timeline Large portion of expected 20 million in synergies to be realised in FY17 Key Work Streams March April May June FY17 Executive / management teams in place Rationalise duplicated headcount Detailed…
Drillsearch acreage Complementary acreage to increase production and exploration opportunities Full ownership of Western Flank oil and gas permits Ex PEL 91, 106 Expanded gas and gas liquids footprint High-grading of…
Combined Cooper Basin acreage Dominant position in the Cooper Basin with gross acreage of c.69,000 km2 22
Loading...
