Company Presentation 2017 Barclays CEO Energy-Power Conference Kristian Johansen CEO 6 September 2017 New York City
Brief 2017 Financial Status
Financial highlights H1 2017 Net revenues of 194 MUSD, up 9% from H1 2016 Net late sales of 148 MUSD were up 21% from 122 MUSD in H1 2016 Net pre-funding revenues of 43 MUSD, down from 49 MUSD in H1 2016 Operational multi-client…
Strong balance sheet and cash flow allow for continued dividends Balance sheet 30 June 2017 Free Cash Flow Dividend Yield (2010 2017) 39 6.0% 68 180 Other 227 Goodwill Current 5.2% 239 liabilities 160 4.9% 38 5.0% Cash…
Projects
Busy Acquisition Season at Record Low Unit Cost Data acquisition volumes (1) Vessel months consumed by TGS 120 60 100 50 Total vessel months 80 40 Index 60 30 40 20 20 10 0 0 2007 2008 2009 2010 2011 2012 2013…
Europe AM17 Atlantic Margin 3D - Norway 40,000 km2 project in the central-southern Norwegian Sea largest 3D survey carried out by any company in Northern Europe Covers largely open blocks in a relatively under-explored area with…
Europe & Africa Crean 3D - Ireland 5,400 km2 multi-client survey located in the South Porcupine Basin between the Porcupine High and the Irish Mainland Platform Adding to TGSs Atlantic Margin offering building on the exploration…
East Canada* Newfoundland Labrador 2D 2017 Season 22,000 km multi-client 2D survey infilling and extending existing JV data in the region; targeting 2019 and 2020 Sectors of the Scheduled Land Tenure Newfoundland Labrador 3D Long…
U.S. Gulf of Mexico Revolution XII/XIII 7,150 km2 (306 OCS blocks) multi-client full-azimuth survey in collaboration with Schlumberger in Green Canyon, Atwater Valley and Ewing Bank areas Dual Coil Shooting Acquisition completed in…
U.S. Land West Kermit 3D 1,050 km2 high-resolution 3D multi-client project in Loving and Winkler counties, TX, in the Delaware basin Data acquisition expected to complete in early Q4 2017 West Lindsey 3D 520 km2 high-resolution 3D…
Outlook
Cost is coming down Deepwater project F&D cost back to 2008 level Oil companies cash flow break-even price versus Brent 16 120 14 F&D Cost (incl. infrastructure) 100 12 10 80 USD/bbl USD per bbl 8 60 6 4 40 2…
Reserve replacement ratio and reserve life unsustainably low Reserve replacement ratio and avg. Brent Average run rate life of current reserves 14 1.8 1.6 1.4 13 1.2 RRR Organic Years 1 12 0.8 0.6 11 0.4 0.2 0 10…
Oil price uncertainty persists Global liquid production / consumption balance Multi-client revenues of the key seismic players1, y/y 2.0 80% 60% 1.5 Change to Stocks mmbd 40% 1.0 20% 0.5 0% 0.0 -20% -0.5 -40%…
2017 Projects Schedule* NSA EUR AMEAP Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Dong Fang Kan Tan 1 NWAAM JV 2D & Other Atlantic Explorer East Canada JV Barents Atlantic Guardian CSEM Sea JV Fugro Multibeam x2 U.S.…
License Round Activity and TGS Positioning North & South America Africa, Middle East, Asia Pacific Europe / Russia Central & Western GOM Mar & Aug (2017-22 Plan) Rep. of Guinea Oct 2017 (Round launch) Norway APA Sep 2017 (bids…
Summary Delivering according to plan YTD net revenues of 194 MUSD (an increase of 9% from last year) YTD EBIT of 20 MUSD (compared to 0.3 MUSD last year) Solid Balance Sheet Backing TGS strategy Cash balance of 239 MUSD in…
Thank you 22 TGS-NOPEC Geophysical Company ASA. All rights reserved 2017
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