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H1 2016 Financial Results – Ithaca Energy Inc.

Ithaca Energy Inc. · Aug 15, 2016 · 10 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. H1 2016 Financial Results – Ithaca Energy Inc. – slide 1
    H1-2016 Financial Results 15 August 2016
  2. H1 2016 Financial Results – Ithaca Energy Inc. – slide 2
    Highlights H1-2016 Production 9.4kboe/d Unit Operating Expenditure 25/boe Cashflow from Operations 82M Net Debt - 30 June 2016 606M Funding Headroom 120M+ Stella First Hydrocarbons November 2016 Photo: FPF-1 tow from…
  3. H1 2016 Financial Results – Ithaca Energy Inc. – slide 3
    Solid H1-2016 performance Realised Hydrocarbon Price (/boe)1 Unit Operating Expenditure (/boe) Cashflow from Operations (/boe) 82/boe2,3 74/boe 47/boe3 48/boe 31/boe2 25/boe 10% 19% 2% 2015 H1-2016 2015 H1-2016…
  4. H1 2016 Financial Results – Ithaca Energy Inc. – slide 4
    H1-2016 financial results Financial Summary H1-2016 H1-2015 Revenue1 incl. Hedging Cash Gain M 126.8 178.02 Hedging gains partially offsetting lower volumes Opex M (42.0) (88.8)2 Opex down 53% - improved asset mix and cost saving…
  5. H1 2016 Financial Results – Ithaca Energy Inc. – slide 5
    Sustainable business in lower for longer oil price environment Unit Operating Expenditure (/boe) Capital Expenditure (M) 370M 31/boe1 20/boe GSA 25/boe 22/boe 10-12/boe 117M Current Stella Development Production…
  6. H1 2016 Financial Results – Ithaca Energy Inc. – slide 6
    Deleveraging of the business well underway Net Debt & Finance Facilities (M) Peak 730M Net debt down by further 59M over H1-2016 to 606M 800M Debt Solid free cashflow generation at low oil prices even Availability prior to…
  7. H1 2016 Financial Results – Ithaca Energy Inc. – slide 7
    FPF-1 sail-away route to first hydrocarbons FPF-1 tow to field commenced early August 2016 Stella start-up scheduled for November 2016 3 month programme from sail-away to first oil Full modifications programme completed in yard…
  8. H1 2016 Financial Results – Ithaca Energy Inc. – slide 8
    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…
  9. H1 2016 Financial Results – Ithaca Energy Inc. – slide 9
    Greater Stella Area satellites driving long term value growth Delivering on strategic objectives Vorlich interest increased to 33% net 2P reserves of 8MMboe1 Austen discovery added to portfolio net 3-21MMboe2 resource range…
  10. H1 2016 Financial Results – Ithaca Energy Inc. – slide 10
    Summary building momentum Solid cashflow generation Production running ahead of guidance, further reduction in unit operating cost guidance FPF-1 modifications programme completed and vessel on-route to field Stella start-up…

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