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May 2018 Investor Presentation – Ecopetrol S.A.

Ecopetrol S.A. · May 18, 2018 · 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. May 2018 Investor Presentation – Ecopetrol S.A. – slide 1
    INVESTORS PRESENTATION Committed to Our Goals May 2018 Picture: Cartagena Refinery- Source: Ecopetrol
  2. May 2018 Investor Presentation – Ecopetrol S.A. – slide 2
    SOLID RESULTS PREPARED FOR A PATH OF GROWTH 2016 2017 1Q17 1Q18 1P RESERVES 1,598 1,659 NET PROFIT 0.9 2.6 MMBOE COP Tn AVERAGE 6.8 7.1 EBITDA MARGIN 43% 49% RESERVE LIFE Years PRODUCTION 712 701 MBOED RESERVE -7% 126% REPLACEMENT…
  3. May 2018 Investor Presentation – Ecopetrol S.A. – slide 3
    FAVORABLE ENVIRONMENT PROACTIVE COMMERCIAL STRATEGY Cash USD/Bl Crude Prices Break even* 67 64 51 55 51 52 62 55 60 7.3 118 US 40.3 51 47 53 8.3 45 47 46 71 35 46 44 42 39 38 39 40 40.3 38 34 25 2014 2015 2016…
  4. May 2018 Investor Presentation – Ecopetrol S.A. – slide 4
    TRANSFORMATION BASIS FOR A PROFITABLE FUTURE Accumulated efficiencies in Opex, Capex and Income 2017 Efficiencies* In Billions of Pesos Income and cash 882 1,175 393 795 2,588 Capex 724 224 Impact on P&G 559 2,254 7,035…
  5. May 2018 Investor Presentation – Ecopetrol S.A. – slide 5
    SUSTAINED IMPROVEMENT IN KEY OPERATING METRICS LIFTING COST (USD/BOE) DILUTION COST (USD/BL) 1Q18 8.1 1Q18 3.8 14.8% 2017 7.6 2017 3.9 15.0% 2016 6.5 2016 4.2 16.9% 2015 7.4 2015 5.1 18.5% 2014 6.7 20% 2014 11.2 % Dilution…
  6. May 2018 Investor Presentation – Ecopetrol S.A. – slide 6
    2020+ STRATEGY FOCUS ON PROFITABLE GROWTH Reserves and Improved recovery Production and infill projects growth Cash protection RESERVES AND Strict capital and cost PRODUCTION discipline efficiency GROWTH Exploration…
  7. May 2018 Investor Presentation – Ecopetrol S.A. – slide 7
    UPSTREAM
  8. May 2018 Investor Presentation – Ecopetrol S.A. – slide 8
    EXPLORATION ACTIVITY 1Q18 POLLERA-1 EXPLORATION: SSJN-1 Three Onshore discoveries of SN-15 crude in Llanos Orientales and Valle Medio del Magdalena PRE-SAL basin: COYOTE-2 - Lorito-1 INFANTAS ORIENTE-1* - Infantas Oriente-1…
  9. May 2018 Investor Presentation – Ecopetrol S.A. – slide 9
    SUCCESSFUL RESERVES ADDITION 295 MMBOE IN ADDITION FOR A REPLACEMENT OF 126% AND EXTENDED RESERVES LIFE TO 7.1 YEARS Technical and Commercial Management 94 1659 1598 201 MMBOE -234 67 13 44 4 73 295 MMBOE Balance 2016…
  10. May 2018 Investor Presentation – Ecopetrol S.A. – slide 10
    PRODUCTION COMMITTED TO OUR PRODUCTION GOAL 715-725 MBOED We resume the path of growth in March (715 mboed) Challenging security 715 environment (-12 712 mboed) and temporary reduction in water disposal capacity in 701 Rubiales…
  11. May 2018 Investor Presentation – Ecopetrol S.A. – slide 11
    RECOVERY PROGRAM POTENTIAL INCREASE OF RECOVERY FACTOR PRODUCTION: 42 pilots of enhanced recovery have been executed 16 pilots in the process of expansion. Recovery Potential by water WATER INJECTION/ ENHANCED WATER: injection…
  12. May 2018 Investor Presentation – Ecopetrol S.A. – slide 12
    RECOVERY PROGRAM IMPROVED WATER INJECTION PROJECT DINA K: FROM PILOT TO EXPANSION PROJECT PILOT EXPANSION PROCESS Recovery Factor (Year 2040): 5 7% Recovery Factor (Jan 2017): 1.6% 7 wells out of the 16 planned wells have been…
  13. May 2018 Investor Presentation – Ecopetrol S.A. – slide 13
    SUCCESSFUL PROJECTS ADDING PRODUCTION AND RESERVES La Cira Infantas Mid-Magdalena Valley Partnership Infill and water injection recovery 70000 program since 2005. Reserves 60000 Crude Rate Incremental 50000 increased in 259…
  14. May 2018 Investor Presentation – Ecopetrol S.A. – slide 14
    RECOVERY PROGRAM RESULTS TO INCREASE RESERVES Chichimene, an example of recovery potential PILOT EXPANSION Pilot Results Incremental Recovery Factor % Potential initial Secondary Expansion (Higher production) 10% 8.6% Lower…
  15. May 2018 Investor Presentation – Ecopetrol S.A. – slide 15
    Midstream
  16. May 2018 Investor Presentation – Ecopetrol S.A. – slide 16
    MIDSTREAM OPTIMIZING THE LOGISTIC CHAIN OF THE BG EBITDA Cost of Sales COP Tn +13% COP Tn -4% 2.19 0.79 0.76 1.94 1Q2017 1Q2018 1Q2017 1Q2018 Transported Volume The San Fernando Apiay* System came into operation MBOD…
  17. May 2018 Investor Presentation – Ecopetrol S.A. – slide 17
    Downstream
  18. May 2018 Investor Presentation – Ecopetrol S.A. – slide 18
    DOWNSTREAM CONSOLIDATING OPERATIONS CARTAGENA BARRANCABERMEJA Gross Refining Margin Cartagenas Gross Refining Margin B/mejas Throughput Cartagena (USD/Bl) Throughput (MBD) B/meja (USD/Bl) (MBD) +18% -19% 215 215 +69% 11.5 144…
  19. May 2018 Investor Presentation – Ecopetrol S.A. – slide 19
    Financial Results
  20. May 2018 Investor Presentation – Ecopetrol S.A. – slide 20
    SOLID QUARTERLY FINANCIAL RESULTS Ebitda Margin Gross Debt Net Debt /Ebitda /Ebitda 49% 1.7x 1.4x 37% 35% 38% 42% 2.8 2.9 1.9 2.5 2.4 1.6 1.2 1.6 2014 2015 2016 2017 2014 2015 2016 2017 2017 2014 2015 2016 Cash FCFO***…
  21. May 2018 Investor Presentation – Ecopetrol S.A. – slide 21
    EBITDA INTEGRATED COMPANY: 3 PROFITABLE SEGMENTS 49% 43% 8% 80% EBITDA SHARE BY +22% 7.1 SEGMENT 5.8 +30% 4.3 3.3 +13% 57% 60% 0% 2.2 1.9 10% 9% 0.6 0.6 33% 31% EBITDA BG Upstream Downstream Midstream 1Q17 1Q18 COP Tn…
  22. May 2018 Investor Presentation – Ecopetrol S.A. – slide 22
    ACCUMULATED NET INCOME BEST QUARTERLY FINANCIAL RESULTS OF THE PAST 4 YEARS 0.5 0.0 0.6 0.3 0.0 0.3 1.3 0.0 2.6 0.9 Utilidad Net Income1Q Revenues Ingresos Costos Costs Gastos Expenses DD&A Exchange Dif. En Resultado…
  23. May 2018 Investor Presentation – Ecopetrol S.A. – slide 23
    SOLID CASH POSITION FLEXIBILITY TO GROW Investment Flow Financing Flow 3.6 1.1 4.7 1.2 2.5 0.1 0.7 0.2 0.2 7.9 7.9 Cash 4.4 4.3 balance Investments Investments Efectivo Efectivo Capex Inversin en Dividendos Yield and y Pago…
  24. May 2018 Investor Presentation – Ecopetrol S.A. – slide 24
    2018 INVESTMENT PLAN USD 3.5 TO 4 BILLION Exploration Production Production Break Even Midstream Between Downstream 715 and 725 kbped Other 1% 6% 11% 8% Investment in Drilling Colombia 620 development wells at least 12…
  25. May 2018 Investor Presentation – Ecopetrol S.A. – slide 25
    PERSPECTIVES 2018 Increase our production to between 715 mboed and 725 mboed Investment plan between USD 3.5 billion and USD 4.0 billion Drilling of over 620 development wells and 12 exploratory wells EBITDA of over COP 500…
  26. May 2018 Investor Presentation – Ecopetrol S.A. – slide 26
  27. May 2018 Investor Presentation – Ecopetrol S.A. – slide 27
    OIL AND GAS INFRASTRUCTURE

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