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Financial and Operational Results 2016 – Ecopetrol S.A.

Ecopetrol S.A. · Mar 20, 2017 · 18 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. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 1
    DELIVERING ON OUR TARGETS Financial and Operational Results 4Q 2016 FY 2016 March 2017
  2. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 2
    Juan Carlos Echeverry MANAGEMENT PARTICIPANTS CEO Mara Fernanda Surez CFO Felipe Bayn COO Hctor Manosalva VP of Development and Max Torres Production VP of Exploration Luisa Lafaurie Patricia Zuluaga CEO Cenit- Midstream VP of…
  3. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 3
    A CHALLENGING ENVIRONMENT LED US TO A PROFOUND TRANSFORMATION 120 2014 12/bl 2015 10/bl 2016 9/bl 110 ECP Basket 100 ECP Differential 90 - 54% BRENT (USD/bl) 80 70 60 50 99 87 40 30 54 44 45 36 20 jul-2014…
  4. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 4
    DESPITE A CHALLENGING SCENARIO WE EXCEEDED TARGETS AND BUILT A ROBUST LIQUIDITY POSITION FINANCIAL OPERATIONAL EBITDA PRODUCTION MARGIN 38% OVERPERFORMANCE 718 MBOD UPSTREAM 10.5 EBITDA/bl (USD) WARRIOR CRUDE OIL DISCOVERY…
  5. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 5
    SAVINGS ACROSS ALL SEGMENTS TRANSLATE IN ONGOING IMPROVEMENT OF KEY OPERATIONAL METRICS COP Tn COP Tn UPSTREAM (OPEX) CAPEX Fluid treat.cost (COP/bl) -14% -11% COP Drilling cost (USD/per -24% -20% COP Energy cost (COP/kWhr) -21%…
  6. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 6
    EXCEEDED PRODUCTION TARGET AND CONTINUED TO IMPROVE OUR OPERATIONAL EFFICIENCY LIFTING COST USD/bl Production Goal Exceeded 2016 6.5 -12% Successful takeover of operation of Rubiales and Cusiana fields 2015 7.4 Direct Operation…
  7. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 7
    ENHANCED RECOVERY KEY IN ADDITION TO PRODUCTION AND RESERVES 2014-2016 RESULTS RESOURCES Addition of more than 1.200 mboe in contingent resources TECHNOLOGY Water- flooding e.g. Steam injection e.g. Castilla, Chichimene &…
  8. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 8
    MOVING FORWARD TO EXPANSION PHASE CHICHIMENE Oil Production(bod) 2017 PROJECTS Structuring and evaluating recovery 2026 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2027 2028…
  9. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 9
    MITIGATED PRICE IMPACT ON RESERVES THROUGH COST OPTIMIZATIONS RRR Excluding Price Effect: 79% RRR All In: -7% 2,000 1,849 -235 1,800 -202 186 2 1,598 1,600 1,400 MBOE 1,200 1,000 800 600 Balance Dec 15 Prod. 2016 Price…
  10. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 10
    EXPLORATORY ACTIVITY A3 2016 GORGON A1 PURPLE ANGEL A3 BULLERENGUE SUR-1 A3 ECOPETROL AMRICA 4Q: WARRIOR 2016 CANTAGALLO LLANITO-GALAN Warrior, Finished drilling : Successful - Operated by Anadarko , % ARAUCA BORANDA A3…
  11. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 11
    MIDSTREAM INTEGRATION TO ACHIEVE A MORE EFFICIENT OPERATION TRANSPORTED VOLUMES MBOED -8.3% Segment consolidation and alignment among 1,232 1,229 1,092 1,130 all midstream companies Products 254 265 263 264 Crude 978 964 828…
  12. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 12
    REFICAR ADVANCES IN SUCCESFULL COMPLETION OF STABILIZATION PERIOD REFINERY RUNS AT CARTAGENA MID DISTILLATES AND GASOLINE GROSS REFINING MARGIN AT YIELD AT CARTAGENA (%) CARTAGENA MBOD Mid distillates USD/bl Gasoline +17% +200%…
  13. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 13
    ENHANCED OPERATIONAL METHODS MITIGATED EXTERNAL IMPACTS ON DOWNSTREAM REFINERY RUNS AT B/MEJA MID DISTILLATES YIELD AT GROSS REFINING MARGIN (MBD) B/MEJA (%) B/MEJA (USD/bl) -4% 36% -17% 33% 32% 31% 31% 29% 16.8 222 229 213 15.0…
  14. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 14
    WE DELIVERED AMIDST THE CHALLENGES: SOLID FINANCIAL METRICS REVENUES EBITDA LEVERAGE COP Tn COP Tn Margin Times (x) -8% 18 18 52 2.9 3.0 48 2.6 2.2 +3% 2015 2016 2015 2016 ND/Ebitda GD/Ebitda 35% 38% 2015 2016 Ecopetrol…
  15. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 15
    STRUCTURAL SAVINGS, IMPROVED COMMERCIAL STRATEGY AND LOWER IMPAIRMENTS BENEFITED THE NET RESULT COP Tn 2.8 (0.1) (4.0) 4.6 7.4 0.06 (4.4) 2.6 1.0 1.0 (0.8) 1.6 -4.0 Net icome Sales Fixed cost Variable cost Expenses…
  16. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 16
    STRONG EBITDA ACROSS SEGMENTS IN SPITE OF LOWER PRODUCTION AND PRICES COP Tn 8 18 2 8 Groups Ebitda Upstream Downstream Midstream Margin 37.7% 30.5% 7.4% 73.1%
  17. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 17
    STRONG CASH BALANCE AS A CATALYST FOR ADDITIONAL GROWTH OPPORTUNITIES COP Tn 1.66 (3.41) 17.16 (5.84) (4.72) (2.76) 14 (0.23) 8.4 6.55 5.3 Initial cash Cash from Divestments & Net tax Capex Investment 1 Debt outflows 2…
  18. Financial and Operational Results 2016 – Ecopetrol S.A. – slide 18
    2017 Perspectives 17 exploratory wells drilled: 6 offshore Colombia and 11 onshore Colombia. Production Target: 715 Mboed Robust liquidity opens up opportunities for inorganic growth Gross Debt/Ebitda: 2.5-3x New target savings of…

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