2015 Full-year results Peter Coates Chairman Hides gas conditioning plant, PNG LNG
Full-year summary Loss of 2.7 billion including impairments of 2.8 billion after tax Focus on reducing capital expenditure and improving operating efficiency Safety & Capital Cost savings performance management Lowest lost…
Safety performance Lost time injury frequency rate of 0.1 per million hours worked Best safety performance on record Safety performance (employees and contractors) Rate per million Work hours hours worked (million) 2 1.9 40 30…
2015 Full-year financial and operating results Andrew Seaton Chief Financial Officer GLNG plant, Curtis Island Queensland
Financial summary Managing the business in a lower oil price environment Material and sustainable cost out Balance sheet strengthened 4.8 billion in liquidity Net debt remains flat in 2016 at US32/bbl No material drawn…
2015 Full-year EBITDAX down 17% to 1,919 million financial result Net loss of 2,698 million, reflecting asset impairments of 2,761 million after tax million 2015 2014 % Higher sales volumes and Total revenue (inc. third party) 3,307…
Impairment Impairment charge of 3.9 billion pre-tax, 2.8 billion post-tax The impairment charge reflects the Impairment loss by asset* lower oil price environment, subsequent reduction in capital Amillion 0 500 1000 1500 2000 2500…
Production Highest full-year production since 2007 Production Full-year production up 7% mmboe LNG production up 68% 70 57-63 Strong PNG LNG production 60 57.7 54.1 Record production from Darwin 52.1 51.0 50 47.2 LNG 40 GLNG…
Sales revenue Sales revenue impacted by significantly lower oil prices Sales gas and ethane revenue marginally lower million 2015 2014 % due to lower third party sales volumes partially Sales revenue (incl. third party) offset by…
Production costs Unit production costs down 10% to 14.4/boe Total unit cash operating costs down 13% million 2015 2014 % Unit production costs down 10% to Production (mmboe) 57.7 54.1 7% 14.4/boe Production costs Higher LNG plant…
Capital expenditure 2015 capex expenditure 1.7 billion, down 54% 2016 capex guidance cut to 1.1 billion million 2015 2016F Full-year capital expenditure Eastern Australia 568 320 billion GLNG 463 370 4 4.1 Asia Pacific 140 100…
Liquidity Substantial liquidity position 4.8 billion in cash and committed undrawn debt facilities Liquidity as at 31 December 2015 Liquidity will increase to more than 5 billion in Q1 2016 following Abillion receipt of 520 million in…
Balance sheet and Net debt reduced to A6.5 billion funding Reduces further following receipt of Kipper proceeds Reconciliation of movement in net debt Net debt reduced to Abillion 6.5 billion 10 2.1 (3.0) Receipt of 520 million…
Net debt Net debt remains flat in 2016 at US32/bbl oil 2016 Net debt movement Santos forecast free cash Abillion flow positive in 2016 at US40/bbl US32/bbl US32/bbl oil, after asset 8 sales (1.1) 0.8 (1.1) 0.5 7 US10/bbl…
Debt maturity profile Santos has limited drawn debt maturities until 2019 Drawn debt maturity profile as at 31 December 2015 Amillion 2,500 Notes mature in 2070, with Santos option to redeem on 22 2,163 September 2017 and at…
Dividends Future dividends expected to be a minimum of 40% of underlying net profit, subject to business conditions Fully-franked dividends declared per share Final dividend 5 cents per Cents per share share, fully franked 40…
Reserves 2P reserves impacted by lower oil price environment and reclassification of Gunnedah Basin reserves to contingent resources Reconciliation of 2P reserves Proved plus probable (2P) reserves mmboe of 945 mmboe, 24% lower than…
2015 Full-year results Peter Coates Chairman Hides gas conditioning plant, PNG LNG
2015 Full-year results Kevin Gallagher Managing Director and Chief Executive Officer GLNG plant, Curtis Island Queensland
Reference Slides 19 February 2016 GLNG plant, Curtis Island Queensland
Liquidity and net debt 4.8 billion in cash and committed undrawn debt facilities position as at 31 Net debt 6.5 billion December 2015 Liquidity (A million) 31 December 2015 Cash 1,154 Undrawn bilateral bank debt facilities 3,625…
Significant items after tax Reconciliation of full-year net loss to underlying profit Full-year Full-year million % Change 2015 2014 Net loss after tax (2,698) (935) (189)% Add/(deduct) significant items Impairment losses…
2016 guidance Item 2016 guidance Production 57-63 mmboe Sales volumes (including third party product sales) 76-83 mmboe Upstream production costs (excl. LNG plant costs) 13.5-14/boe produced Depreciation, depletion &…
2016 Exploration schedule Focus on infrastructure-led exploration Santos Well Name Basin / Area Target Result/Timing Interest % Drilling complete, Davis-1 (WA-214-P) Carnarvon WA Gas 45 evaluation ongoing Merem-1 (Madura PSC)…
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