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December 2016 Corporate Presentation – TGS

TGS · Dec 22, 2016 · 27 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. December 2016 Corporate Presentation – TGS – slide 1
    Company Presentation December 2016
  2. December 2016 Corporate Presentation – TGS – slide 2
    Agenda About TGS Review of Q3 16 Market outlook The TGS approach Appendix 2016 TGS-NOPEC Geophysical Company ASA. All rights reserved. 2
  3. December 2016 Corporate Presentation – TGS – slide 3
    This is TGS Main offices: Calgary London Oslo and Houston Oslo Regional offices: London, Perth, Calgary, Singapore, Mexico and Rio Fundamental values: Unmatched Quality and Service, Growth for Stakeholders Mexico…
  4. December 2016 Corporate Presentation – TGS – slide 4
    Well positioned in the seismic value chain M U LT I - C L I E N T SERVICES Geophysical Data Geological Data Imaging Services 2D Seismic Digital well data Seismic processing 3D Seismic Directional Surveys Complex depth imaging…
  5. December 2016 Corporate Presentation – TGS – slide 5
    Agenda About TGS Review of Q3 16 Market outlook The TGS approach Appendix 2016 TGS-NOPEC Geophysical Company ASA. All rights reserved. 5
  6. December 2016 Corporate Presentation – TGS – slide 6
    Net Revenues Late sales revenues Prefunding revenues 250 100 200 80 150 60 226 94 -47% Y/Y 100 -26% Y/Y 40 74 62 53 39 50 82 90 90 84 20 37 72 67 23 26 38 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2014 2015 2015 2015…
  7. December 2016 Corporate Presentation – TGS – slide 7
    Multi-Client Library Operational investments and prefunding ratio Multi-client library - NBV 200 100% 1,000 Operational investments 90% 950 Prefunding ratio 80% 150 70% 900 60% 100 50% 850 976 163 40% 919 126 135 30%…
  8. December 2016 Corporate Presentation – TGS – slide 8
    New Project Announced North West Africa North West African Atlantic Margin NWAAM2017 Over 11,500 km of multi-client 2D seismic in partnership with PGS Designed to infill, extend and complement the TGS NWAAM2012 2D survey which…
  9. December 2016 Corporate Presentation – TGS – slide 9
    Agenda About TGS Review of Q3 16 Market outlook The TGS approach Appendix 2016 TGS-NOPEC Geophysical Company ASA. All rights reserved. 9
  10. December 2016 Corporate Presentation – TGS – slide 10
    Continued challenging near-term outlook Change in Global E&P Spending Industry late sales 40 600 30 27 26 23 23 22 21 500 Change year-on-year (%) 19 19 20 16 16 15 14 11 7 8 6 400 10 3 2 MUSD 0 300 -10 -8 -10 200…
  11. December 2016 Corporate Presentation – TGS – slide 11
    Exploration spending likely to recover long-term Two factors point to increased exploration activity in the longer-term 1. Current exploration efforts are unsustainable 2. Cost levels should eventually come down to levels that…
  12. December 2016 Corporate Presentation – TGS – slide 12
    1. Current exploration efforts are unsustainable Organic reserve replacement ratio Integrated oil companies avg. oil reserve life 180% 14 160% 13 140% 12 120% 11 Years 100% 10 80% 9 60% 40% 8 20% 7 0% 6 1994…
  13. December 2016 Corporate Presentation – TGS – slide 13
    2. Costs are coming down USD/bbl Integrated oil companies break-even oil price ROCE 10 largest integrated oil companies vs. Real Brent oil price 160 25% 120 Avg. ROCE 1990-2015: 12% 140 Avg. real Brent: USD 53 per bbl 100 120 20%…
  14. December 2016 Corporate Presentation – TGS – slide 14
    Agenda About TGS Review of Q3 16 Market outlook The TGS approach Appendix 2016 TGS-NOPEC Geophysical Company ASA. All rights reserved. 14
  15. December 2016 Corporate Presentation – TGS – slide 15
    The TGS strategic approach Low capital intensity no interst-bearing debt Asset light No vessel ownership few long-term capital commitments Investment decisions purely commercial no group considerations Flexible cost base - low…
  16. December 2016 Corporate Presentation – TGS – slide 16
    Solid Balance Sheet Backing TGS strategy Other 65 Current Goodwill 68 198 liabilities Cash 173 44 Non-current liabilities Receivables 275 Balance sheet remains healthy through down-cycle 1155 Equity Cash balance per Q3 2016 of…
  17. December 2016 Corporate Presentation – TGS – slide 17
    Diversified multi-client portfolio 2.5x + 2.0-2.5x Return targets 1.7-2.0x Invest- Invest- Invest- ment Sales ment Sales ment Sales 70-120% Prefunding 20-40% requirements 40-60% Invest- Pre- Invest- Pre- Invest- Pre-…
  18. December 2016 Corporate Presentation – TGS – slide 18
    Summary Continued challenging markets near-term Still downward pressure on E&P spending High volatility from quarter to quarter Positive long-term outlook Oil companies have to increase exploration efforts to avoid falling…
  19. December 2016 Corporate Presentation – TGS – slide 19
    Agenda About TGS Review of Q3 16 Market outlook The TGS approach Appendix 2016 TGS-NOPEC Geophysical Company ASA. All rights reserved. 19
  20. December 2016 Corporate Presentation – TGS – slide 20
    License Round Activity and TGS Positioning North & South America Africa, Middle East, Asia Pacific Europe / Russia Central GOM Mar 2017 (5-Year Plan) Ongoing uncertainty on timing of African Norway APA Q1 2017 (block awards)…
  21. December 2016 Corporate Presentation – TGS – slide 21
    Backlog Historical Backlog (MUSD) 2012 - 2016 350 300 250 200 150 281 293 260 242 213 224 100 185 193 182 178 143 146 145 125 50 103 71 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2012 2013 2013 2013 2013 2014 2014…
  22. December 2016 Corporate Presentation – TGS – slide 22
    2016 Projects Schedule NSA EUR AMEAP Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Akademik Lazarev Greenland Aquila Explorer Mexico Hawk Explorer Mexico Osprey Explorer Mexico Northern Explorer Mexico Mexico 2D &…
  23. December 2016 Corporate Presentation – TGS – slide 23
    Q3 2016 Income Statement USD million, except EPS Q3 2016 Q3 2015 Change in % Net revenues 113 169 -33% Cost of goods sold proprietary and other 5 0.1 8222% Amortization of multi-client library 70% 74 99 -25% Gross margin 34 71…
  24. December 2016 Corporate Presentation – TGS – slide 24
    Q3 2016 Cash Flow Statement USD million Q3 2016 Q3 2015 Change in % Received payments from customers 110 145 -24% Payments for operational expenses (25) (23) -7% Paid taxes 6 (1) 552% Operational cash flow 91 121 -24% Investments…
  25. December 2016 Corporate Presentation – TGS – slide 25
    Balance Sheet USD million Q3 2016 Q2 2016 Change in % Q4 2015 Assets Cash and cash equivalents 173 162 7% 163 Other current assets 275 255 8% 308 Total current assets 449 417 8% 471 Intangible assets and deferred tax asset 88 92…
  26. December 2016 Corporate Presentation – TGS – slide 26
    Dividend stable at USD 0.15 per share Dividend Paid* (2010 2016) Dividend Yield (2010 2016) 1.6 6.0% 8 NOK 8.5 NOK 5.2% 1.4 4.9% Yield (on day of announcement) 5.0% 1.2 8.5 NOK 4.0% 3.9% 6 NOK 4.0% 3.7% USD per share…
  27. December 2016 Corporate Presentation – TGS – slide 27
    Thank you Sven Brre Larsen Will Ashby Chief Financial Officer VP HR & Communication sven.larsentgs.com will.ashbytgs.com 2016 TGS-NOPEC Geophysical Company ASA. All rights reserved.

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