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FY2017 Results and FY2018 Outlook – Senex Energy Ltd.

Senex Energy Ltd. · Aug 22, 2017 · 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. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 1
    1 FY17 full year results and FY18 outlook Ian Davies, Managing Director and CEO Graham Yerbury, Chief Financial Officer 22 August 2017
  2. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 2
    2 Agenda Performance overview Financial results Outlook Project updates Key takeaways Appendix WSGP reference data Refurbishment of the Eos dam, Western Surat Gas Project
  3. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 3
    Key takeaways 3 Solid FY17 performance Solid production and cost control from base oil business, excellent early operational performance in the Surat Basin, and a strong cash position achieved FY18 program is returns and growth…
  4. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 4
    4 Performance overview Ian Davies, Managing Director and CEO Drilling on the Eos block, Western Surat Gas Project
  5. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 5
    Strategic priorities and FY17 performance 5 Commenced appraisal testing of the Western Surat Gas Project, sanctioned and commenced 50 million capital program Realising the near-term potential Commenced project to bring Vanessa gas…
  6. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 6
    Our focus on working sustainably 6 Solid safety Strong environmental Creating a positive performance against track record legacy in our increased work hours communities Maintaining and improving Strengthening relationships…
  7. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 7
    Cooper Basin operating performance 7 Production and capex 1.38 1.39 Capex ( million) 1.25 Strong production from base oil portfolio (declining at 1.01 lower end of 2 4% per month guided range) Production 0.75 (mmboe) Production…
  8. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 8
    Surat Basin operating performance 8 Surat Basin reserves build (PJs) Consistent reserve adds in the Surat Basin 427 438 demonstrate increasing confidence in subsurface: 358 65% increase in 1P reserves in 2017 2P reserves 157…
  9. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 9
    9 Financial results Graham Yerbury, Chief Financial Officer
  10. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 10
    Key financial headlines 10 FY17 FY16 Change Production (mmboe) 0.75 1.01 (26%) Sales volumes (mmboe) 0.72 0.97 (26%) Slightly higher operating costs on a /bbl basis, Average realised oil price ( per bbl) 61 71 (14%) given lower…
  11. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 11
    Margins from oil sales 11 Oil sales margins impacted by: Average realised Oil margins ( per barrel sold) Lower oil price received oil price 88/bbl Cost of hedging (to minimise pricing Average realised oil price 71/bbl…
  12. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 12
    Underlying NPAT reconciliation 12 Movement in underlying net profit after tax ( million) (0.0) (22.5) - (5) million (10) (15) 7.5 (20) (18.0) 2.0 (25) (7.6) (6.4) (30) 1 3 Underlying FY16 Sales revenue - Sales revenue…
  13. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 13
    Operating cash reconciliation 13 Movement in opening and closing cash balance ( million) 240 90.7 200 (19.2) million 160 43.6 7.9 (36.6) 120 (12.3) (10.3) 149.3 134.8 (25.1) (6.5) 80 114.4 102.4 40 Opex and Growth…
  14. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 14
    14 Outlook Ian Davies, Managing Director and CEO
  15. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 15
    Strategic priorities 15 Reach milestones allowing Senex to make final investment decision and transition to full field development on Western Surat Gas Project Realising the near-term potential 1 in the east coast gas market…
  16. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 16
    FY18 outlook 16 FY18 FY17 FY18 forecast production Production mmboe guidance actual Cooper Basin: Stabilising and growing production Total production 0.75 0.90 0.75 FY18 FY17 Surat Basin: ramping up throughout FY18 with material…
  17. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 17
    17 Project updates Ian Davies, Managing Director and CEO
  18. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 18
    Cooper Basin oil 18 During FY17: Strong production and cost control delivered from base oil portfolio Liberator seismic survey acquired to augment extensive existing coverage PEL182 exploration campaign undertaken to test fairway…
  19. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 19
    Cooper Basin gas 19 During FY17: Unconventional gas project with Lattice Energy: drilling and testing activities at well locations in the Patchawarra Trough and Allunga Trough Vanessa gas field: project received funding under the…
  20. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 20
    Western Surat Gas Project 20 During FY17: Commenced appraisal testing on the Glenora pilot (Phase 1) Sanctioned 50 million on Phase 2 capital program (30 wells on Glenora and Eos) and appraisal activities west of Eos Continued…
  21. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 21
    21 Key takeaways Ian Davies, Managing Director and CEO
  22. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 22
    Key takeaways 22 Solid FY17 performance Solid production and cost control from base oil business, excellent early operational performance in the Surat Basin, and a strong cash position achieved FY18 program is returns and growth…
  23. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 23
    Contact and Further Information 23 Investor Ian Davies Media Rhianne Bell Enquiries Managing Director Enquiries Corporate Communications Manager (07) 3335 9000 (07) 3335 9859 Tess Palmer Investor Relations Manager (07) 3335…
  24. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 24
    Appendix: Reserves and resources 24 30 June 2016 Production Revisions 30 June 2017 % change yoy 1P reserves 12.1 (0.7) 5.3 16.7 38% 2P reserves 83.4 (0.7) 1.3 83.9 1% 2C resources 208.0 - 0.1 208.1 0% 2P reserves (oil and…
  25. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 25
    Appendix: Net profit after tax and EBITDAX 25 FY17 FY16 FY17 FY16 Revenue 43.6 69.3 Statutory net profit (loss) after tax (22.7) (33.2) Operating costs (25.1) (30.6) Add/(less): Gain on sale of Maisey block - 38.2 Net interest 0.2 1.2…
  26. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 26
    Western Surat Gas Project: reference data 26 Resource 81 PJ of net proved (1P) reserves Surat Basin reserves 438 PJ of net proved and probable (2P) reserves Infrastructure Pilot Gas Pipeline connects the Glenora pilot to the GLNG…
  27. FY2017 Results and FY2018 Outlook – Senex Energy Ltd. – slide 27
    Western Surat Gas Project: reference data 27 Market Sales from the Glenora pilot to GLNG commenced in April 2017 (Senex receives a USD JCC oil- Pilot Gas linked price for raw, unprocessed gas to be supplied at its option) Exploring…

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