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1Q 2016 Financial Results – Dana Gas

Dana Gas · May 4, 2016 · 30 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. 1Q 2016 Financial Results – Dana Gas – slide 1
    Clean Energy For the Future Dana Gas Investors Presentation 1Q 2016 Financial Results 04 May 2016 www.danagas.com 1
  2. 1Q 2016 Financial Results – Dana Gas – slide 2
    Presentation Outline Performance Highlights Finance Update Country Performance Egypt Kurdistan Region of Iraq UAE - Zora Gas Project Summary www.danagas.com 3
  3. 1Q 2016 Financial Results – Dana Gas – slide 3
    Performance Highlights Dr Patrick Allman-Ward Chief Executive Officer www.danagas.com 4
  4. 1Q 2016 Financial Results – Dana Gas – slide 4
    2016 Q1 Performance Highlights - 1 Despite a very challenging oil price environment, Dana Gas has continued to remain profitable: Net profit after tax was 6 million compared with 12 million in Q1 2015. Realised prices were 30 per…
  5. 1Q 2016 Financial Results – Dana Gas – slide 5
    2016 Q1 Performance Highlights - 2 We are seeing improving sales and cash flows from Kurdistan: In Q1 2016 we recommenced local sales of LPG and condensate, which were temporarily interrupted in Q4 2015. Collections and advanced…
  6. 1Q 2016 Financial Results – Dana Gas – slide 6
    Financial Performance Chris Hearne Chief Financial Officer www.danagas.com 7
  7. 1Q 2016 Financial Results – Dana Gas – slide 7
    Financial Highlights: Q1 2015 vs Q1 2016 Percentage (In million) Q1 2015 Q1 2016 Change Gross Revenue 115 82 (29) Gross Profit 37 22 (41) Net Profit 12 6 (50) EBITDA 55 47 (15) Gross revenue declined by 29%, mainly due to a sharp…
  8. 1Q 2016 Financial Results – Dana Gas – slide 8
    Profit After Tax Bridge Q1 2015 Vs Q1 2016 (all figures in million) 20 9 15 12 (1) 10 11 6 5 (5) (10) 0 2 -5 3 14 -10 (1) -15 -20 (28) -25 Quarter 1 Revenue - Revenue - Decrease in Increase in Decrease in Decrease in…
  9. 1Q 2016 Financial Results – Dana Gas – slide 9
    Production(BOEPD) Rounded to nearest hundred 1Q 2015 Vs 1Q 2016 2015 2016 4Q 2015 Vs 1Q 2016 80,000 70,000 68,700 60,400 60,500 70,000 60,000 60,500 60,000 50,000 50,000 40,000 37,700 33,000 40,000 30,900 33,000 30,000…
  10. 1Q 2016 Financial Results – Dana Gas – slide 10
    Average Realized Prices 1Q 2015 Vs 1Q 2016 2015 2016 4Q 2015 Vs 1Q 2016 60 60 51 50 50 41 41 40 40 36 30 29 30 30 30 29 20 20 10 10 0 0 Condensate (USD/boe) LPG (USD/boe) Condensate (USD/boe) LPG (USD/boe) * Liquids…
  11. 1Q 2016 Financial Results – Dana Gas – slide 11
    Trade Receivables (all figures in million) Dana Gas Egypt KRI Pearl Petroleum Receivable - 226 million Receivable - 221 million Receivable - 733 million Receivable - 727 million 140 160 30% 111% 125 142 120 Billing Collection 113…
  12. 1Q 2016 Financial Results – Dana Gas – slide 12
    Liquidity & Liability 600 Cash & bank balance Outstanding Sukuk 800 750 750 500 470 700 413 600 350 350 400 500 300 400 300 200 400 400 200 100 100 31 December 2015 31 March 2016 31 December 2015 31 March 2016 9% Ordinary…
  13. 1Q 2016 Financial Results – Dana Gas – slide 13
    Country Performance Egypt, KRI and UAE Iman Hill Technical Director & GM UAE and Egypt www.danagas.com 14
  14. 1Q 2016 Financial Results – Dana Gas – slide 14
    Egypt: Nile Delta Operations Development Leases: Onshore acreage consisting of El Wastani 14 Development Leases in the prolific Nile Delta region Production: 1Q 2016 avg 33 kboe/d versus 30.9 kboe/d for 4Q 2015. Balsam field…
  15. 1Q 2016 Financial Results – Dana Gas – slide 15
    Egypt: Nile Delta Operations The tie-ins for Salma Delta-4 and South Abou El Naga (SAEN) 6 wells have also completed and the El Wastani wells are in production. The tie-ins for South Faraskur-5, South Faraskur-6 and SAEN-7 are…
  16. 1Q 2016 Financial Results – Dana Gas – slide 16
    Egypt: Balsam Horst Update: Balsam-4 Hz Following the success of Balsam 1 & 2 wells, Balsam- 4Hz has drilled a geo-steered a 400m near-horizontal section across the best quality part of the upper Balsam reservoir. 400m of screens…
  17. 1Q 2016 Financial Results – Dana Gas – slide 17
    Egypt: South Faraskur -7 Discovery S Faraskur-7 South Faraskur -7 discovery well has proved up the play in the eastern part of the development lease. This is a separate hydrocarbon filled structure from Faraskur Field…
  18. 1Q 2016 Financial Results – Dana Gas – slide 18
    Egypt: Block 1 - North El Salheya Exploration Block-1 (100% WI) Targets prolific Abu Madi play Other plays include: Kafr El Sheikh and Oligocene Activities Reprocessing of 800 km2 3D seismic Western Geco completed and loaded…
  19. 1Q 2016 Financial Results – Dana Gas – slide 19
    Egypt: Block 3 - El Matarya Exploration Block-3 (Dana Gas 50% WI) BP is operating Block-3 as 50/50 partner and is targeting the deeper, high potential Oligocene play which is proven in the offshore Nile Delta. Mocha-1 Expected…
  20. 1Q 2016 Financial Results – Dana Gas – slide 20
    Egypt: Block 6 North El Arish Offshore Update Block-6 (100% WI) 1782 km2 of full fold 3D seismic acquired in October 2015 by PGS Ramform Titan boat. 3D seismic processing completed in January 2016. Substantial and material…
  21. 1Q 2016 Financial Results – Dana Gas – slide 21
    Egypt Summary The Company collected 24 million in 1Q 2016 realising 86% of the quarters revenue. 1Q 2016 end total receivables are 226 million compared to 221 million at end of 2015, an overall increase of 5 million. The Company…
  22. 1Q 2016 Financial Results – Dana Gas – slide 22
    Kurdistan Operations Q1 2016 Iman Hill Technical Director and GM UAE & Egypt www.danagas.com 23
  23. 1Q 2016 Financial Results – Dana Gas – slide 23
    Operations in Kurdistan Region of Iraq DG share of production averaged 25,500 boepd during 1Q 2016. Gross production details are as follows: o 304 MMscfd of natural gas o 13,322 bbl/d of condensate o 737 MT/d LPG Gaffney…
  24. 1Q 2016 Financial Results – Dana Gas – slide 24
    GCA Estimated Khor Mor and Chemchemal Gross Field Reserves Summary of Gross Field Reserves as at 31st December, 2015 Gross Field Reserves Condensate Gas (MMBbl) (Bscf) Area/Fault Field Block Proved plus Proved plus Proved…
  25. 1Q 2016 Financial Results – Dana Gas – slide 25
    GCA Estimated Khor Mor and Chemchemal Gross Field Reserves Summary of Gross Field Reserves as at 31st December, 2015 Wet Gas Equivalent Gross Field Reserves Wet Gas (Bscf) Area / Fault Field Block Proved plus Proved Proved…
  26. 1Q 2016 Financial Results – Dana Gas – slide 26
    UAE Operations - Zora Gas Project Update Iman Hill Technical Director and GM UAE & Egypt www.danagas.com 27
  27. 1Q 2016 Financial Results – Dana Gas – slide 27
    Zora Operations progress The Zora Field has been producing since mid January 2016 Following the shutdown for engineering design modifications the plant re-commenced production in February Gas is being supplied to the customer…
  28. 1Q 2016 Financial Results – Dana Gas – slide 28
    Summary Dr Patrick Allman-Ward Chief Executive Officer www.danagas.com 29
  29. 1Q 2016 Financial Results – Dana Gas – slide 29
    Summary Overall, we are pleased with how we are progressing. We have maintained a good operational performance and made financial progress in the quarter despite the persistent low oil price environment. Operations in Egypt and…
  30. 1Q 2016 Financial Results – Dana Gas – slide 30
    Reach us: Dana Gas P. O. Box 2011, Sharjah, UAE www.danagas.com Direct : +971 6 519 4444 Fax : +971 6 556 6522 www.danagas.com

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