Q1 2017 RESULTS HIGHLIGHTS Revenues of Ps 57.0 billion (+21.5%) Adj. EBITDA(1) was Ps 16.8 billion (+34.7%) Net Income of Ps 0.2 billion Operating cash flow of Ps 24.7 billion (+127.7%) Total hydrocarbon production was down…
Q1 2017 RESULTS RESULTS EXPRESSED IN US DOLLARS Revenues and Adj. EBITDA increased by 12.2% and 24.4%, respectively, driven by higher prices in dollars offsetting the effect of the 8% peso devaluation and in line with the increase in…
Q1 2017 RESULTS OPERATING INCOME Operating Income increased by 179% driven by improved results from our Downstream business. Operating Income (in millions of Ps) 554 719 5,162 4,511 -3,542 1,618 Q1 2016 Downstream…
Q1 2017 RESULTS OPERATING INCOME Revenue increase of 21.5% was higher than the 18.8% increase in cash costs (Cost of Sales + Purchases) and the 12% increase in DD&A, resulting in higher Operating Income. Operating Income (in millions of…
Q1 2017 RESULTS UPSTREAM Upstream Operating Income was down 79.8% due to: (i) higher costs compared to an unusual Q1 2016, and (ii) lower revenues as a result of lower crude oil prices. Operating Income (in millions of Ps) 488 185…
Q1 2017 RESULTS PRODUCTION Total production was down 1.5%: natural gas was up 2.8% and crude oil was down 6%. Crude oil production Natural gas production Total production (Kbbl/d) (Mm3/d) (Kboe/d) -6.0% +2.8% 45.3 -1.5% 249.0…
Q1 2017 RESULTS SHALE OIL & GAS UPDATE Net Shale O&G production (Kboe/d) Loma Campana horizontal wells cost (in million of USD) Well Cost Frac Stages 34.3 18.8 30.3 17.0 26.4 14.3 15.6 8.8 15.0 11.6 (1) 16.2 16.6 14.2 10.5…
Q1 2017 RESULTS TIGHT GAS DEVELOPMENTS Tight Gas Net Production - Mm3/d 13.1 11.1 Tight gas production 8.3 represented 29% of total natural gas production in Q1 2017. 6.2 9 new wells in Aguada Toledo, 2 in Rincn del…
Q1 2017 RESULTS DOWNSTREAM Downstream Operating Income increased Ps 5.2 billion. Revenues increased by 23% due to higher prices while cost increased by only 8%. Q1 2016 was heavily impacted by the peso devaluation. Operating Income (in…
Q1 2017 RESULTS DOWNSTREAM PERFORMANCE Sales volumes were down by 2.1% due to lower diesel and fuel oil demand. Refinery output decreased by 1.0% due to lower fuel oil sales volumes. Crude processed Domestic sales of refined products…
Q1 2017 RESULTS REFINED PRODUCTS DEMAND Demand was weak during the first two months of the year and recovered in March. Strong recovery in market share. Monthly Gasoline Sales Monthly Diesel Sales (Km3) (Km3) + +1.1% -3.4% 480 800…
Q1 2017 RESULTS GAS & ENERGY UPDATE Current capacity of 1,300 Mw. Ongoing projects fully funded will add 575 Mw. Identified an additional 2,000 Mw in future projects. Actively looking for new partners in our energy business to fund…
Q1 2017 RESULTS CAPEX Capex was down 46.5% in USD terms and 18.9% in pesos, mostly due to reduced activity in the Upstream segment. Upstream Downstream (in millions of Ps) Upstream Activity breakdown: 62% in drilling and workovers,…
FINANCIAL SITUATION Strong cash position by the end of Q1 2017; Adjusted Operating Cash Flow was very strong due to an increase in Adj. EBITDA and a reduction in working capital. First quarter of positive free cash flow.…
FINANCIAL SITUATION Cash position strengthened by solid operating cash flow generation in Q1 2017. Leverage ratio decreased. Financial debt amortization schedule (1) (2) (in millions of USD) 3,212 74% denominated in USD and 26%…
SUMMARY Strong quarter; reaffirming guidance for 2017 Substantial Adj. EBITDA and Operating Income growth; expansion of margins Improving local demand; increase in market share More than doubled Operating Cashflow; positive Free…
Questions and Answers 1st Quarter Earnings Webcast 22
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