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Annual General Meeting – Ithaca Energy Inc.

Ithaca Energy Inc. · Jun 22, 2016 · 12 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. Annual General Meeting – Ithaca Energy Inc. – slide 1
    2016 Annual General Meeting 22 June 2016
  2. Annual General Meeting – Ithaca Energy Inc. – slide 2
    2015 highlights delivering on key priorities Cashflow 261M1 cashflow from on-going operations Stella Major milestones delivered and on track for first hydrocarbons in September 2016 Production 12.1kboe/d in 2015 and set to…
  3. Annual General Meeting – Ithaca Energy Inc. – slide 3
    Strong 2015 performance continuing into 2016 Realised Hydrocarbon Price (/boe)1 Unit Operating Expenditure (/boe) Cashflow from Operations (/boe) 82 /boe2,3 81 /boe 54/boe 47/boe3 31 /boe2 25 /boe 1% 19% 15% 2015…
  4. Annual General Meeting – Ithaca Energy Inc. – slide 4
    Near term step change in production strong hedging protection in place Production (kboe/d) Oil & Gas Hedging 25 20 9.9 kboe/d 15 12.1kboe/d 7.0 kboe/d Pierce Stella1 10 Wytch Farm Causeway Area 5 Dons Base…
  5. Annual General Meeting – Ithaca Energy Inc. – slide 5
    Sustainable business in lower for longer oil price environment Unit Operating Expenditure (/boe) Capital Expenditure (M) 370M 31/boe1 25/boe 20/boe GSA 25% Under 30/boe Budget 10-12/boe 117M Current Stella Production…
  6. Annual General Meeting – Ithaca Energy Inc. – slide 6
    Deleveraging of the business well underway Net Debt & Finance Facilities (M) Material reduction in net debt delivered in 2015 Disciplined financial management non-core Peak Norwegian business sale and premium equity placing…
  7. Annual General Meeting – Ithaca Energy Inc. – slide 7
    Greater Stella Area on track for first hydrocarbons in September 2016 Development status Remaining key milestones Five Stella wells ready to flow FPF-1 sail-away end June / early July 2016 All subsea infrastructure in place FPF-1…
  8. Annual General Meeting – Ithaca Energy Inc. – slide 8
    FPF-1 preparing for sail-away FPF-1, Gdansk October 2015 Photo: FPF-1, June 2016 ITHACA ENERGY 2016 Annual General Meeting 9
  9. Annual General Meeting – Ithaca Energy Inc. – slide 9
    FPF-1 work programme route to first hydrocarbons Onshore commissioning of accommodation, 3 month programme from sail-away to first oil processing and utility systems completed FPF-1 tow to Stella field Offshore core crew living on…
  10. Annual General Meeting – Ithaca Energy Inc. – slide 10
    Maximising hub value oil export pipeline investment Greater Stella Area Oil & Gas Export Pipelines Oil pipeline exports accelerated into 2017 Secured access to major Norway-UK pipeline tie-in facilitated by third party…
  11. Annual General Meeting – Ithaca Energy Inc. – slide 11
    Flexible, high quality infrastructure hub driving long term growth Highly attractive tie-back economics Central hub infrastructure in place for Stella Low incremental expenditure on satellite field developments subsea…
  12. Annual General Meeting – Ithaca Energy Inc. – slide 12
    Summary building momentum Major catalyst nearing completion step change in production and cashflow with Stella start-up Well positioned for the current commodity price environment Deleveraging phase commenced exited significant…

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