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March 2018 Investor Presentation – Ecopetrol S.A.

Ecopetrol S.A. · Mar 30, 2018 · 26 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. March 2018 Investor Presentation – Ecopetrol S.A. – slide 1
    Investor Presentation Ecopetrol S.A. March 2018
  2. March 2018 Investor Presentation – Ecopetrol S.A. – slide 2
    SOLID RESULTS PREPARED FOR A PATH OF GROWTH 2016 2017 2016 2017 1P RESERVES 1,598 1,659 NET PROFIT 1.6 6.6 MMBOE COP Tn AVERAGE EBITDA MARGIN 38% 42% RESERVE LIFE 6.8 7.1 Years SOLID CASH POSITION 15.0 14.5 COP Tn RESERVE -7%…
  3. March 2018 Investor Presentation – Ecopetrol S.A. – slide 3
    FAVORABLE ENVIRONMENT PROACTIVE COMMERCIAL STRATEGY Cash USD/Bl Crude Prices Break even* 64 62 6.9 US 40 55 52 51 51 55 51 118 47 53 45 47 9.4 46 35 46 44 71 42 39 38 38 39 40 34 25 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16…
  4. March 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. March 2018 Investor Presentation – Ecopetrol S.A. – slide 5
    SUSTAINED IMPROVEMENT IN KEY OPERATING METRICS LIFTING COST (USD/BOE) DILUTION COST (USD/BL) 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 factor 34 DAYS OF…
  6. March 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. March 2018 Investor Presentation – Ecopetrol S.A. – slide 7
    Upstream
  8. March 2018 Investor Presentation – Ecopetrol S.A. – slide 8
    SUCCESSFUL EXPLORATORY ACTIVITY 2017 EFFECTIVE AND EFFICIENT BRAMA-1 SILURO-1B WARRIOR-2 ST-1* WARRIOR-2 MOLUSCO-1 * BULLERENGUE SUR-3 GORGON-1 GB 77, 78, 121 & 122 BLOCKS 6 & 8 PURPLE ANGEL-1 POLLERA-1 6 8 BORANDA-1…
  9. March 2018 Investor Presentation – Ecopetrol S.A. – slide 9
    SUCCESSFUL EXPLORATORY ACTIVITY MAJOR MILESTONES 2017 21 wells Activities in block CPO-9 19 Exploratory & 2 Appraisal (Drilled Trogn -1 & Lorito-1 Wells) Success rate: +50% A new gas province +250 MMBOE Offshore Colombian…
  10. March 2018 Investor Presentation – Ecopetrol S.A. – slide 10
    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…
  11. March 2018 Investor Presentation – Ecopetrol S.A. – slide 11
    MAINTAIN PRODUCTION WITH EFFICIENT USE OF CAPITAL Improved Capital Discipline OPEX Strategies 1.60 Normalized Production 1.40 Improved well performance in Castilla Continuity in projects with high 1.20 potential (Rubiales and…
  12. March 2018 Investor Presentation – Ecopetrol S.A. – slide 12
    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…
  13. March 2018 Investor Presentation – Ecopetrol S.A. – slide 13
    RECOVERING 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…
  14. March 2018 Investor Presentation – Ecopetrol S.A. – slide 14
    RECOVERING PROGRAM REVIEWING GROWTH OPTIONS IN COLOMBIA 15
  15. March 2018 Investor Presentation – Ecopetrol S.A. – slide 15
    Midstream
  16. March 2018 Investor Presentation – Ecopetrol S.A. – slide 16
    MIDSTREAM CONTINUOUS EFFICIENCY AND CONTRIBUTION OF 34% TO BG EBITDA Cost of Sales Transport of heavy crude COP Tn with viscosity of 600 cSt. EBITDA -2% COP Tn Operational flexibility: Bi- 2% directional Bicentenario pipeline.…
  17. March 2018 Investor Presentation – Ecopetrol S.A. – slide 17
    Downstream
  18. March 2018 Investor Presentation – Ecopetrol S.A. – slide 18
    DOWNSTREAM CONSOLIDATING OPERATIONS CARTAGENA REFINERY BARRANCABERMEJA Gross Refining Margin Cartagenas Gross Refining Margin B/mejas Throughput Cartagena (USD/Bl) Throughput (MBD) B/meja (USD/Bl) (MBD) +21% +8% -19% +6% +34%…
  19. March 2018 Investor Presentation – Ecopetrol S.A. – slide 19
    Financial Results
  20. March 2018 Investor Presentation – Ecopetrol S.A. – slide 20
    SOLID FINANCIAL RESULTS 2017 PROFITABLE GROWTH 120.0 755 761 718 715 100.0 =99 =54 =45 =55 66.0 80.0 55.2 52.1 47.7 60.0 37% 35% 38% 42% 24.5 23.1 40.0 18.1 18.0 5.7 6.6 -3.9 1.6 20.0 2014 2015 2016 2017 COP Tn…
  21. March 2018 Investor Presentation – Ecopetrol S.A. – slide 21
    SOLID FINANCIAL RESULTS 2017 Ebitda Margin Gross Debt Net Debt /Ebitda /Ebitda 42% 1.9x 1.6x 37% 35% 38% 42% 2.8 2.9 2.5 2.4 1.6 1.9 1.2 1.6 2014 2015 2016 2017 2014 2015 2016 2017 2014 2015 2016 2017 Cash FCFO** Ebitda/Bl…
  22. March 2018 Investor Presentation – Ecopetrol S.A. – slide 22
    EBITDA INTEGRATED COMPANY: 3 PROFITABLE SEGMENTS 42% 37% 7% 75% EBITDA SHARE BY 23.1 +28% SEGMENT 18.0 +58% 13.2 34.3% 43.2% 2% 8.4 7.9 7.8 5% 46.5% 57.3% 1.9 1.8 10.3% 8.4% EBITDA GEE Upstream Dowstream Midstream 2016…
  23. March 2018 Investor Presentation – Ecopetrol S.A. – slide 23
    SOLID CASH POSITION STRENGTHENED TO GROW Consolidated Debt* (USD Billions Equivalent) COP Tn 16.6 17.2 14.4 Investment Flow 2.1 2.1 4.4 1.9 Financing Flow 12.8 14.5 15.1 17.0 6.1 12.5 0.6 1.2 11.3 2015 2016 2017 USD COP…
  24. March 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. March 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. March 2018 Investor Presentation – Ecopetrol S.A. – slide 26

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