Q2 2016 Results Highlights Revenues of Ps 52.8 billion (+31.9%) Adj. EBITDA(1) reached Ps 17.2 billion (+38.2%) Operating Income was Ps 5.3 billion (-4.7%) Total Capex was Ps 14.5 billion (-1,8%) Crude oil production was 243.0…
Q2 2016 Results Expressed in US Dollars The devaluation of the local currency resulted in an immediate reduction of Revenues and Adj. EBITDA; EBITDA margin expanded to 33%. Revenues (1) Adj. EBITDA (1) (2) Operating Income (1) (in…
Q2 2016 Operating Income Operating Income was down 4.7%; both business segments were lower and partially offset by other effects, mainly the deconsolidation of Maxus entities. (in millions of Ps) 5,578 991 5,318 -818…
Q2 2016 Operating Income Revenues were up in line with most of our cash costs, but higher depreciation on our dollar-based assets contributed to a 4.7% decline in Operating Income. (in millions of Ps) 986 12,756 -4,577…
Q2 2016 Upstream Results Upstream Operating Income was down 32.3% despite the better performance of prices vis-- vis cash costs; DD&A was 72.8% higher. (In million of Ps) 8,282 -4,101 2,534 -2,864 -970 1,716 -815 -351…
Q2 2016 Upstream Results Production Total production was up 0.3%, driven by a 26% growth in NGL; crude oil and natural gas production down by 2.8% and 0.4%, respectively, negatively affected by labor strikes. Crude oil production…
Q2 2016 Shale Development Update 503 22 51.6 Loma Campana horizontal 2016 wells production (kbbl/d) 800 Producing New wells Kboe/d Q2 2016 Type Well 566 Kbbl Average 2016 wells wells in Q2 2016 Shale production 600 400 Gross Shale…
Q2 2016 Tight Gas Production Additional compression in Tight Gas Gross Production - Mm3/d Rincn del Mangrullo and 12 11.0 TG EFO Lajas Estacin Fernandez Oro TG RdM Mulichinco boosted tight gas 10 TG ATSB Lajas 9.0 production in Q2 2016…
Q2 2016 Downstream Results Downstream Operating Income declined 11.2% as price increases were below the increase in Purchases; volumes sold were disappointing. (in millions of Ps) 11,994 -9,295 3,865 3,432 -1,401 -833 -555…
Q2 2016 Downstream Results - Sales Refinery output affected by scheduled maintenance activity, mostly in our Plaza Huincul refinery. Sales volumes were down by 6.2% due to lower diesel and gasoline demand. Crude processed Domestic…
Q2 2016 Downstream Results Demand Gasoline and diesel sales were down by 4.4% and 6.0%, respectively; slight reduction in market share. Monthly Gasoline Sales (Km3) Monthly Diesel Sales (Km3) 480 - 4.4% 800 + -6.0% 0.8% 460 2015…
Q2 2016 Capex Capex was down 38.3% in USD terms and 1.8% in pesos, mostly due to activity reduction in the Upstream segment. Upstream (in millions of Ps) Upstream Activity breakdown: 76% in drilling and Downstream workovers, 18%…
Q2 2016 Gas & Power Update New VP created to develop a holistic approach to natural gas development, midstream infrastructure, energy efficiency and power generation. In the context of the recent power auctions launched by the…
Q2 2016 Cash Flow From Operations Cash position within our comfort level by the end of Q2 2016; Operating Cash Flow was down due to working capital build-ups mainly related to natural gas sales and subsidies. Consolidated statement…
Q2 2016 Financial Situation Update(1) Cash position strengthened by debt new issuance and collection of 2015 gas subsidies during start of Q3 2016; Cash & Equivalents covers debt maturities of next 18 months. Financial debt…
Q2 2016 Summary Extremely challenging conditions in first half of 2016 Soft demand Devaluation of currency Tension around wage discussion Natural gas receivables Still targeting 10/20% reduction in EBITDA but preserving margins…
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