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Q1 2016 Results – Tethys Oil

Tethys Oil · May 3, 2016 · 24 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. Q1 2016 Results – Tethys Oil – slide 1
    Q1 2016 3 May 2016
  2. Q1 2016 Results – Tethys Oil – slide 2
    Q1-16 Highlights Production increase continues: new production record with 12,212 BOPD in Q1-16 up 11% compared to Q4-15 Revenue of MUSD 20, down 24% compared to Q4-15 EBITDA of MUSD 10, down 25% compared to Q4-15 Net result MUSD…
  3. Q1 2016 Results – Tethys Oil – slide 3
    Tethys assets Country Licence Area, Tethys Partners* 2P reserves Production km2 share 31 Dec 2014 Q3 2015 (mmbo) ** (bopd) Producing Assets Oman Block 3 & 4 34,610 30% CC Energy, Mitsui 18.2 12,099 Lithuania Gargzdai 884 25% Odin…
  4. Q1 2016 Results – Tethys Oil – slide 4
    Average daily production in Oman 14 000 12 000 10 000 8 000 6 000 4 000 2 000 0 April May July September October November December January January February February March…
  5. Q1 2016 Results – Tethys Oil – slide 5
    Cash flow Blocks 3 and 4 investments for 2016 will be closely monitored and subject to on-going revisions. The target is to fund the years investments on Blocks 3 and 4 primarily from cash flow from operations In the first quarter…
  6. Q1 2016 Results – Tethys Oil – slide 6
    Production Barrels BOPD Barrels BOPD 4 000 000 12 000 1 200 000 14 000 3 578 489 3 500 000 12 000 10 000 1 000 000 3 000 000 2 807 653 10 000 8 000 800 000 2 500 000 8 000 2 000 000 6 000 600 000 1 709 706 6 000 1 500 000 4 000…
  7. Q1 2016 Results – Tethys Oil – slide 7
    Revenues MUSD MUSD MUSD 160 149 35 140 30 30 26 26 120 107 25 25 100 20 20 80 15 60 40 10 20 5 0 0 2014 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Revenue Revenue Q1-16 revenue is down 24% compared to Q4-15 due to…
  8. Q1 2016 Results – Tethys Oil – slide 8
    Sold barrels Barrels Barrels 2 000 000 1 805 056 700 000 584 399 1 600 000 600 000 545 019 1 464 228 531 918 500 000 1 200 000 400 000 366 746 850 926 308 892 800 000 300 000 200 000 400 000 100 000 0 2013 2014 2015 0…
  9. Q1 2016 Results – Tethys Oil – slide 9
    Average achieved selling price per barrel USD/bbl USD/bbl 120,0 80,0 106,6 103,9 100,0 63,8 61,8 60,0 57,8 80,0 47,9 60,0 58,1 40,0 35,7 40,0 20,0 20,0 2013 2014 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Ave selling…
  10. Q1 2016 Results – Tethys Oil – slide 10
    EBITDA MUSD MUSD 120 18 70% 107 16 59% 57% 60% 100 14 51% 49% 49% 50% 80 12 10 40% 58 17 60 8 16 13 13 30% 40 6 10 20% 4 20 10% 2 0 0 0% 2014 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 EBITDA EBITDA EBITDA…
  11. Q1 2016 Results – Tethys Oil – slide 11
    Expenses MUSD MUSD 60 14 1 50 12 1 1 5 10 2 40 4 1 8 30 6 12 11 11 20 43 37 4 9 8 10 2 0 0 2014 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Administrative expenses Operating expenses Operating expenses Administrative…
  12. Q1 2016 Results – Tethys Oil – slide 12
    Opex and Net back per barrel (USD/bbl) USD/bbl USD/bbl 60,0 35,0 50,0 30,0 25,0 40,0 18,8 20,0 41,3 40,6 20,0 19,7 30,0 13,0 15,0 18,1 11,2 20,0 10,0 14,3 10,0 5,0 10,3 12,1 11,9 14,1 13,4 12,1 7,3 0,0 0,0 2013 2014 2015 Q1…
  13. Q1 2016 Results – Tethys Oil – slide 13
    Net result after tax MUSD MUSD 60 10 49 50 8 8 8 40 6 30 4 23 4 3 20 2 10 0 0 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 2014 2015 -2 -2 Result for the period Result for the period -4 Net result down following lower oil…
  14. Q1 2016 Results – Tethys Oil – slide 14
    Balance Sheet Q1 2016 (MUSD) 2016-03-31 2015-12-31 2014-12-31 Net cash 45 51 48 Total assets 242 253 232 Shareholders 216 217 214 equity Strong net cash position of MUSD 45 Dividend of SEK 1.00 per share proposed A large part…
  15. Q1 2016 Results – Tethys Oil – slide 15
    Oil and gas investments MUSD MUSD 45 43 18 16 39 16 15 40 35 14 13 30 12 25 10 20 8 7 6 15 6 10 4 5 2 0 0 2014 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Investment in oil and gas properties Investment in oil and gas…
  16. Q1 2016 Results – Tethys Oil – slide 16
    Wells in Oman 14 13 41 40 40 12 11 39 39 10 9 9 38 8 7 37 36 6 35 35 4 34 2 33 32 0 2013 2014 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Wells drilled Wells drilled 9 wells drilled in Q1 2016, all in the Shahd area One…
  17. Q1 2016 Results – Tethys Oil – slide 17
    Block 3 and 4 overview 17
  18. Q1 2016 Results – Tethys Oil – slide 18
    Block 3 and 4, Oman - Stratigraphy Barik, Khufai, Lower Buah and Lower Al Bashir currently producing 18
  19. Q1 2016 Results – Tethys Oil – slide 19
    Reserves, December 31, 2015 Reserves Block 3&4 Oman Development of reserves (31 Dec 2015, mmbo) mmbo 1P 2P 3P mmbo 1P 2P 3P Farha South 7.6 10.2 12.7 Total 31 Dec 2014 11.8 17.8 25.1 Shahd 4.9 6.8 12.0 Production 2015 -3.5 -3.5 -3.5…
  20. Q1 2016 Results – Tethys Oil – slide 20
    Development of reserves, Blocks 3&4 mmbo 30,0 27.9 25.1 25,0 6.3 -3.5 7.9 Possible 20.0 Possible 20,0 18.7 3.0 -2.8 -1.7 Possible Possible 7.7 15,0 Probable Probable 12.4 Probable -1.4 High 10,0 Probable…
  21. Q1 2016 Results – Tethys Oil – slide 21
    Farha South field, 31 March 2016 21
  22. Q1 2016 Results – Tethys Oil – slide 22
    Shahd Oil field New structure in northern extension of Shahd area successfully drilled and brought on stream The water injection programme in the Buah layer showing signs of working Several leads and prospects mapped 22
  23. Q1 2016 Results – Tethys Oil – slide 23
    Conclusion Financial results: Revenues MUSD 20 EBITDA MUSD 10 Net result MUSD -2 Production increased 11% compared to Q4-15. Production expected to continue to increase in 2016, however with monthly fluctuations New near field…
  24. Q1 2016 Results – Tethys Oil – slide 24
    Q2 2016 Will be published 16 August 2016

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