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2Q 2017 Earnings Webcast – YPF S.A.

YPF S.A. · Aug 9, 2017 · 21 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. 2Q 2017 Earnings Webcast – YPF S.A. – slide 1
    2nd QUARTER 2017 EARNINGS WEBCAST August 09, 2017
  2. 2Q 2017 Earnings Webcast – YPF S.A. – slide 2
    CONTENTS 01 Q2 2017 Results 02 Financial Situation 03 Summary 3
  3. 2Q 2017 Earnings Webcast – YPF S.A. – slide 3
    Q2 2017 RESULTS HIGHLIGHTS Revenues of Ps 60.2 billion (+14%) Adj. EBITDA(1) of Ps 16.2 billion (-5.8%) Net Income of Ps 0.3 billion Operating cash flow of Ps 13.0 billion (+96%) Total hydrocarbon production was down 4.2%…
  4. 2Q 2017 Earnings Webcast – YPF S.A. – slide 4
    Q2 2017 RESULTS RESULTS EXPRESSED IN US DOLLARS Adj. EBITDA decreased by 14.8% despite a 3.1% increase in revenues; Ps 1.5 billion one-off gain in Q2 2016 due to the deconsolidation of Maxus explains most of the decline. Revenues…
  5. 2Q 2017 Earnings Webcast – YPF S.A. – slide 5
    Q2 2017 RESULTS OPERATING INCOME Operating Income decreased by 34.8%, mainly driven by lower crude oil production affecting the Upstream segment. Operating Income (in millions of Ps) 632 62 54 5,318 3,466 -2,600 Q2 2016…
  6. 2Q 2017 Earnings Webcast – YPF S.A. – slide 6
    Q2 2017 RESULTS OPERATING INCOME Revenue increased by 14%. Cash costs(1) increased 19%, but Purchases were up 32.8%. Operating Income (in millions of Ps) 7,403 -4,231 5,318 -1,878 -1,626 3,466 -709 -716 -95 Q2 2016…
  7. 2Q 2017 Earnings Webcast – YPF S.A. – slide 7
    Q2 2017 RESULTS UPSTREAM Upstream Operating Income recorded a loss of Ps 884 million, as Revenues were down due to lower production and higher costs (although below inflation). Operating Income (in millions of Ps) 387 79 1,716…
  8. 2Q 2017 Earnings Webcast – YPF S.A. – slide 8
    Q2 2017 RESULTS PRODUCTION Total production was down 4.2%. Crude oil production was affected by severe weather conditions and labor conflicts in Q2 2017. Crude oil production Natural gas production Total production (Kbbl/d) (Mm3/d)…
  9. 2Q 2017 Earnings Webcast – YPF S.A. – slide 9
    Q2 2017 RESULTS SHALE OIL & GAS UPDATE Net Shale O&G production (Kboe/d) Loma Campana horizontal 1,500 meter type well cost (in millions of USD) 34.5 35.3 Well Cost Frac Stages 30.4 17 18 18 26.4 14 16 15.0 9 11.6 16.2 16.6…
  10. 2Q 2017 Earnings Webcast – YPF S.A. – slide 10
    Q2 2017 RESULTS SHALE OIL & GAS UPDATE First 2 wells with 2,500m long laterals successfully completed. One with 32 frac stages and the other with 30, both in Loma Campana. Starting hydraulic stimulation in the first pad of 6 wells…
  11. 2Q 2017 Earnings Webcast – YPF S.A. – slide 11
    Q2 2017 RESULTS TIGHT GAS DEVELOPMENTS Tight Gas Net Production* - Mm3/d Tight gas production 13.7 13.8 represented 31% of total natural gas production 11.7 in Q2 2017. 9.0 8 new wells in Aguada Toledo, 4 in Rincn 6.8 del…
  12. 2Q 2017 Earnings Webcast – YPF S.A. – slide 12
    Q2 2017 RESULTS DOWNSTREAM Downstream Operating Income increased 1.8%. Revenues increased by 10% due to strong sales volumes and slightly higher prices, while costs increased by 10.7% in line with the depreciation of the Argentine peso.…
  13. 2Q 2017 Earnings Webcast – YPF S.A. – slide 13
    Q2 2017 RESULTS DOWNSTREAM PERFORMANCE Sales volumes increased by 1.1% due to higher volumes sold of gasoline and others, mainly asphalts, that more than offset lower volumes sold of diesel and fuel oil. Refinery output increased by…
  14. 2Q 2017 Earnings Webcast – YPF S.A. – slide 14
    Q2 2017 RESULTS REFINED PRODUCTS DEMAND Strong gasoline demand pushed volumes sold up 8.9%, while diesel demand decline in the power generation market more than offset otherwise strong demand. Monthly Gasoline Sales Monthly Diesel…
  15. 2Q 2017 Earnings Webcast – YPF S.A. – slide 15
    Q2 2017 RESULTS GAS & POWER UPDATE Loma Campana I and II projects expected to add 205 MW in 2nd half of 2017 Tucumn project expected to add 270 MW in the first half of 2018 Wind farm expected to add 50 MW in Q1 2018 and reach 100 MW in…
  16. 2Q 2017 Earnings Webcast – YPF S.A. – slide 16
    CAPEX Breakdown Capex was down 18.7% in USD terms and 10.1% in Argentine peso terms, mostly due to reduced activity in the Upstream segment and, to a lesser extent, in the Downstream segment. Upstream Upstream Activity breakdown: 71%…
  17. 2Q 2017 Earnings Webcast – YPF S.A. – slide 17
    CONTENTS 01 Q2 2017 Results 02 Financial Situation 03 Summary 18
  18. 2Q 2017 Earnings Webcast – YPF S.A. – slide 18
    FINANCIAL SITUATION Strong cash position at the end of Q2 2017; solid operating cash flow due to an improvement in working capital. Second straight quarter of positive free cash flow before interest. Consolidated statement of…
  19. 2Q 2017 Earnings Webcast – YPF S.A. – slide 19
    FINANCIAL SITUATION Cash position strengthened by solid operating cash flow generation in Q2 2017. Leverage ratio within the 2x area guidance. Financial debt amortization schedule (1) (2) (in millions of USD) 3,505 73.2%…
  20. 2Q 2017 Earnings Webcast – YPF S.A. – slide 20
    CONTENTS 01 Q2 2017 Results 02 Financial Situation 03 Summary 21
  21. 2Q 2017 Earnings Webcast – YPF S.A. – slide 21
    SUMMARY Strong demand for fuels is evidence of recovering economy Soft fuel prices in the quarter; important increase in July Recent improvement in Vaca Muerta completion services should result in further development cost reduction…

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