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March 2016 Investor Presentation – PTTEP

PTTEP · Mar 3, 2016 · 33 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. March 2016 Investor Presentation – PTTEP – slide 1
    PTT Exploration and Production Public Company Limited 2015 Year-end Opportunity Day Stock Exchange of Thailand 3 March 2016
  2. March 2016 Investor Presentation – PTTEP – slide 2
    Safety Performance Industry Highlights Financial Results Key Achievements and Outlook Safety Industry 2 Financial Outlook
  3. March 2016 Investor Presentation – PTTEP – slide 3
    Second consecutive year as a DJSI listed company Affirming our path to sustainable development Above Industry Average Safety Record of incidents per million man hours (Lost time injury incident frequency, LTIF) Industry Benchmark…
  4. March 2016 Investor Presentation – PTTEP – slide 4
    Safety Performance Industry Highlights Financial Results Key Achievements and Outlook Safety Industry 4 420 Financial Outlook
  5. March 2016 Investor Presentation – PTTEP – slide 5
    Oil Prices Oil prices fell as market continues to be oversupplied Brent Dubai Min-Max Brent Analyst Consensus* 2015 Highlights US / Barrel 120 High levels of production from 110 OPEC and U.S. 2016 2H consensus 100 Brent 48 US/BBL…
  6. March 2016 Investor Presentation – PTTEP – slide 6
    Thailand Updates Continuing growth in gas demand whilst stagnant economy depreciated Baht Thailands Natural Gas Supply by Source Exchange Rate Movement (THB/USD) 40 38.6 38 (Highest) FY 2015 Domestic Myanmar LNG 37.3 2015 36.37…
  7. March 2016 Investor Presentation – PTTEP – slide 7
    Safety Performance Industry Highlights Financial Results Key Achievements and Outlook Safety Industry 9 720 Financial Outlook
  8. March 2016 Investor Presentation – PTTEP – slide 8
    Sales Volume & Unit Costs Continuing sales volume growth and improved unit cost performance Sales Volume and Price Unit Cost BOED 312,569 322,167 50.00 /BOE 284,660 21,702 43.45* 300,000 26,539 40.00 38.88 17,559 46,460 60,672…
  9. March 2016 Investor Presentation – PTTEP – slide 9
    FY 2015 Net Income Breakdown Net income primarily hurt by impairment loss Net Income Comparison Net Income FY 2015 MMUSD MMUSD 2,000 1,000 1,538 132 (319) 1,600 718 1,200 600 (1,385) 800 677 718 400 200 0 FY 2014 FY 2015…
  10. March 2016 Investor Presentation – PTTEP – slide 10
    Cash Flow Performance Robust liquidity to fund CAPEX and debt service Cash Flow Performance Source & Use of Funds in FY 2015 MMUSD % MMUSD EBITDA Margin (RHS) 5,000 100 5,000 4,330 4,000 3,675 90 4,000 3,534** 3,000 2,864 80…
  11. March 2016 Investor Presentation – PTTEP – slide 11
    Financial Position Healthy balance sheet with low gearing ratio and 3.3bn cash on hand MMUSD Capital Structure D/E Ratio 25,000 23,271 1.00 21,561 19,642 20,000 5,819 6,494 0.80 5,309 15,000 4,229 0.60 4,023 3,005 10,000 0.40…
  12. March 2016 Investor Presentation – PTTEP – slide 12
    Dividends Demonstrating our dividend commitment to shareholders Dividend Payment History (Policy : No Less Than 30% of Net Income) 1H 2H THB per share 5.80 6.00 6.00 5.40 4.50 3.00 3.00 4.00 2.79 1.50 3.00* 2.00 2.00 2.61…
  13. March 2016 Investor Presentation – PTTEP – slide 13
    Safety Performance Industry Highlights Financial Results Key Achievements and Outlook Safety Industry 151320 Financial Outlook
  14. March 2016 Investor Presentation – PTTEP – slide 14
    2015 Key Achievements Sustaining financial strength through rigorous cost reduction Sales volume target delivered 3% Sales volume growth vs. 2014 Domestic volumes maintained First production from Algeria 11 % Reduction in unit cost…
  15. March 2016 Investor Presentation – PTTEP – slide 15
    RESET to Survive in the Low Oil Price Environment Primary focus on cost reduction and maintain reliable operations 2016 2016 and beyond Maintain Sales Volume Lower Expenditures Bring Down Unit Cost Unit : KBOED SEA RoW Unit : MMUSD…
  16. March 2016 Investor Presentation – PTTEP – slide 16
    Cost Reduction Through Core Operations Focus on improving process efficiencies and capitalizing on cost deflation Cost Improvements Across Operations Wellhead Platform Cost* Average Cost Per Well** OPEX and G&A Cost Per BOE 2014…
  17. March 2016 Investor Presentation – PTTEP – slide 17
    REFOCUS to Capitalize on the Upturn Through pre-development candidates and portfolio rationalization 2016 2016 and beyond Convert 2C resources Advancing with medium-term value contributors in portfolio Unit : bn BOE Development…
  18. March 2016 Investor Presentation – PTTEP – slide 18
    Thank you and Q&A You can reach the Investor Relations team for more information and inquiry through the following channels: http://www.pttep.com IRpttep.com +66 2 537 4000 Safety Industry 201820 Financial Outlook
  19. March 2016 Investor Presentation – PTTEP – slide 19
    Supplementary Information 1 Industry Update 2 Detailed financial information 3 Five-year investment plan 4 Reserves and resources 5 Project details 6 Organization structure 7 Ratios and formula Safety Industry Financial…
  20. March 2016 Investor Presentation – PTTEP – slide 20
    Cost & Industry Trend Falling upstream cost indices as E&P companies focus on spending cuts Upstream Capital and Operating Cost Indices Industry Responses to Low Oil Prices INDEX UCCI UOCI Brent Focus on cost and spending cuts to…
  21. March 2016 Investor Presentation – PTTEP – slide 21
    FY 2015 M&A Recap Market relatively muted from valuation mismatch between buyers and sellers Global Upstream M&A Deal Value Upstream Deal Value Distribution by Region Bn 200 184 184 Bn 143 Bn 58 Bn 100% Multiregion 150 134 143…
  22. March 2016 Investor Presentation – PTTEP – slide 22
    PTTEP Sales Volume & Average Selling Price Sales volume increased per 3% target; ASP decreased from lowered oil prices Sales Volume BOED 336,363 335,595 312,569 322,167 320,795 300,000 26,539 21,702 17,548 26,422 31,283 Rest of…
  23. March 2016 Investor Presentation – PTTEP – slide 23
    Operating Performance Continuous improvement in unit cost performance Unit Cost /BOE 50 47.35 43.45* 40 38.88 38.58 35.18 Cash Cost 30 20.99 22.11 Unit Cost 20 15.75 16.45 15.39 10 - 2014 2015 Q3 15 Q4 15 Q4 14 DD&A…
  24. March 2016 Investor Presentation – PTTEP – slide 24
    Financial Performance : Income Statement Healthy EBITDA margin 2014* 2015 Q3 15* Q4 15 Q4 14* Sales Revenue** (MMUSD) 7,457 5,444 1,353 1,236 1,797 EBITDA (MMUSD) 5,282 3,844 929 809 1,196 Net Income (MMUSD) 677 (854) (1,284) 132…
  25. March 2016 Investor Presentation – PTTEP – slide 25
    Financial Performance : Balance Sheet Healthy balance sheet with low gearing ratio and over 3Bn cash on hand 2014* 2015 Total Assets (MMUSD) 23,271 19,642 - Cash & cash equivalents** (MMUSD) 3,930 3,260 Total Liabilities (MMUSD)…
  26. March 2016 Investor Presentation – PTTEP – slide 26
    Sales Volume Guidance Stable volume outlook with new project start-up expected in 2020 Unit : KBOED 400 322 323 320 312 286 292 300 Rest of World Other SEA 200 Thailand & 100 MTJDA 0 2015 2016 2017 2018 2019 2020 Algeria…
  27. March 2016 Investor Presentation – PTTEP – slide 27
    CAPEX Breakdown Approx. two-thirds of CAPEX to maintain output from producing projects Unit : MMUSD 2016 - 2020 3,000 Other regions 2.4 Bn 2,726 2,673 Other SEA 2.0 Bn 2,401 Thailand 6.7 Bn 2,100 2,090 TOTAL 11.1 Bn 2,000…
  28. March 2016 Investor Presentation – PTTEP – slide 28
    Reserves and Resources Growing resources base to support future reserves addition Reserves / 2015 by Geography MMBOE Resource Life* Domestic International 6,000 5,039 4,864 5,039 37 Years 5,000 4,406 75% 4,000 1,195 738 3,000…
  29. March 2016 Investor Presentation – PTTEP – slide 29
    Project Information 1/4 Production phase: Thailand and JDA Project Status* PTTEPs Partners 2015 Average Sales Volume ** 2016 Key Activities Share (as of 2015) Gas Oil and Other Production Phase Thailand and JDA 1 Arthit OP 80%…
  30. March 2016 Investor Presentation – PTTEP – slide 30
    Project Information 2/4 Production phase: overseas Project Status* PTTEPs Partners 2015 Average Sales Volume ** 2016 Key Activities Share (as of 2015) Gas Oil and Other Production Phase Overseas 16 Oman 44 OP 100% 22 MMSCFD…
  31. March 2016 Investor Presentation – PTTEP – slide 31
    Project Information 3/4 Exploration phase Project Status* PTTEPs Partners 2016 Key Activities Share (as of 2015) Exploration Phase Thailand and JDA 25 G9/43 OP 100% Acquire 3D seismic Drill Exploration / Appraisal wells Overseas 26…
  32. March 2016 Investor Presentation – PTTEP – slide 32
    Project Information 4/4 Exploration phase Project Status* PTTEPs Partners 2016 Key Activities Share (as of 2015) Exploration Phase Overseas (Contd) 34 Myanmar MD 7 OP 100% and MD 8 35 Mariana Oil OP 100% Assess development approach…
  33. March 2016 Investor Presentation – PTTEP – slide 33
    Organization Structure Ensuring transparency, integrity and good corporate governance Board of Directors Nominating Committee Corporate Governance Committee Remuneration Committee Audit Committee Risk Management Committee…

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