Skip to main content July 2018 Quarterly Presentation – Tullow Oil Plc | Shale Experts
Loading...
Pm

July 2018 Quarterly Presentation – Tullow Oil Plc

Tullow Oil Plc · Jul 25, 2018 · 33 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. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 1
    2018 HALF YEAR RESULTS
  2. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 2
    2018 HALF YEAR RESULTS WELL-POSITIONED IN AN IMPROVING OPERATING ENVIRONMENT EXTERNAL ENVIRONMENT Stronger oil price outlook VALUE CREATION Sustained industry cost deflation Sustainable free cash flow Long-term demand for low…
  3. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 3
    2018 HALF YEAR RESULTS
  4. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 4
    2018 HALF YEAR RESULTS 2018 HALF YEAR RESULTS SUMMARY Underlying cash Revenue Adjusted EBITDAX Profit/(loss) after tax operating costs 905million (1) 10.9/boe 764million 55million 1H 2017: 788 million 1H 2017: 11.9/boe 1H…
  5. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 5
    2018 HALF YEAR RESULTS PRODUCTION GROWTH THROUGH EXISTING ASSETS Oil production growth Strong 1H 2018 production Ghana TEN continues to produce above expectations 150 Jubilee BI insurance Non-op Portfolio Non-operated portfolio -…
  6. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 6
    2018 HALF YEAR RESULTS MAINTAINING COST DISCIPLINE ACROSS THE BUSINESS Cash costs savings Cash cost savings exceed target Initial target set in mid-2015 to remove Staff costs 500m cash costs over three years General Corporate…
  7. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 7
    2018 HALF YEAR RESULTS 2018 CAPITAL EXPENDITURE MAXIMISING GROWTH FROM FINDING PRODUCTION DISCOVERED RESOURCES NEW OIL 1H 2018 76m 12m 29m 28m 145m Ghana Non-op Kenya Exploration FY 2018 250m 40m 80m 90m 460m Ghana…
  8. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 8
    2018 HALF YEAR RESULTS 2018 FREE CASH FLOW m Free cash flow movements Factors impacting 2018 free cash flow 800 650m Production delivers strong underlying operating cash flow 250m (200)m 600m 600 543m Cash flow boosted by…
  9. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 9
    2018 HALF YEAR RESULTS CAPITAL ALLOCATION FRAMEWORK Debt & gearing Investing in our assets Shareholder returns Apply strict criteria to allocate Current position: capital across the portfolio: Capital growth Net debt 3.1bn,…
  10. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 10
    2018 HALF YEAR RESULTS
  11. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 11
    2018 HALF YEAR RESULTS ORGANIC INVESTMENT OPPORTUNITIES TO GROW OUR BUSINESS MAXIMISING GROWTH FROM FINDING PRODUCTION DISCOVERED RESOURCES NEW OIL Jubilee and TEN infill wells East Africa development projects Exploration in…
  12. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 12
    2018 HALF YEAR RESULTS GHANA PRODUCTION: A LONG-TERM SOURCE OF CASH GENERATION Good results from drilling programme 5 new wells online over the next 6 months Targeting Ghana production of 180 kbopd by early 2019 Maximising…
  13. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 13
    2018 HALF YEAR RESULTS NON-OPERATED PORTFOLIO: MATERIAL NET PRODUCTION ACROSS WEST AFRICA Non-operated Portfolio (net) Material high value production from existing assets Invest appropriately to sustain material high-value…
  14. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 14
    2018 HALF YEAR RESULTS DEVELOPMENT MOMENTUM CONTINUES IN EAST AFRICA Uganda - Lake Albert development Kenya - South Lokichar development Finalisation of farm down ongoing Operating Early Oil Pilot Scheme Approval from Government…
  15. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 15
    2018 HALF YEAR RESULTS MULTIPLE HIGH-IMPACT CAMPAIGNS OVER NEXT THREE YEARS Drilling Seismic 2H 2018 2019 2020 Guyana / Suriname Mauritania / Namibia Peru Cte dIvoire West & East Africa Optional activity Cormorant-1 well…
  16. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 16
    2018 HALF YEAR RESULTS
  17. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 17
    2018 HALF YEAR RESULTS WELL-POSITIONED IN AN IMPROVING OPERATING ENVIRONMENT EXTERNAL ENVIRONMENT Stronger oil price outlook VALUE CREATION Sustained industry cost deflation Sustainable free cash flow Long-term demand for low…
  18. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 18
    2018 HALF YEAR RESULTS
  19. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 19
    2018 HALF YEAR RESULTS OUR PORTFOLIO OF ASSETS EAST AFRICA - development NEW VENTURES - exploration Kenya Extensive acreage in Africa and South America, in Significant discoveries in South well-known plays Lokichar basin Multiple…
  20. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 20
    2018 HALF YEAR RESULTS PROACTIVE MANAGEMENT OF BALANCE SHEET MATURITIES Diversified capital structure with a balanced mix of commercial bank facilities and capital markets bn Debt Facilities and Headroom (as of June 30, 2018) 5…
  21. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 21
    2018 HALF YEAR RESULTS HEDGING STRATEGY - MAINTAINING EXPOSURE TO OIL PRICE UPSIDE 2H 2018 Hedge position Long-term financial risk management 60% exposed Proactively hedged production over last to upside* 10 years to protect…
  22. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 22
    2018 HALF YEAR RESULTS INFILL DRILLING PROGRAMME TO OPTIMISE GHANA PRODUCTION Flexible programme to maximise production Average gross cost per well 60 - 70m Multi-year programme of infill wells Initial focus on wells that utilise…
  23. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 23
    2018 HALF YEAR RESULTS TEN FIELD UPDATE Successful project execution and completion Project delivered on time and on budget in 2016 FPSO tested in excess of design capacity (80,000 bopd) Production data supports oil in place and…
  24. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 24
    2018 HALF YEAR RESULTS JUBILEE FIELD - TURRET REMEDIATION PROJECT IN FINAL STAGES Turret remediation project phases Interim Temporary heading completed spread moor All equipment installed Tugs removed Stabilise turret Turret…
  25. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 25
    2018 HALF YEAR RESULTS KENYA APPRAISAL CONFIRMS MATERIAL OIL RESOURCES Successful exploration & appraisal programme South Lokichar basin resources 11 successful exploration wells, 21 appraisal wells drilled Extended injection and…
  26. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 26
    2018 HALF YEAR RESULTS DEVELOPING KENYA'S DISCOVERED RESOURCES South Lokichar development plan Erut Agete Discovered resources support development via export pipeline to Lamu Etom Ekales Phased development approach planned Twiga…
  27. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 27
    2018 HALF YEAR RESULTS UGANDA DEVELOPMENT Farm-down to Total announced 900m consideration: - 200m cash - 100m on completion, 50m at FID, 50m at first oil - 700m in deferred consideration Deferred consideration exceeds Tullows…
  28. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 28
    2018 HALF YEAR RESULTS NEW VENTURES: CAMPAIGNS FOCUSED ON LONG-TERM VALUE Commercial screening Off-limits Exploration Tested at 50/bbl Ultra-deepwater Low cost of supply Value accretive Deepwater gas High margin oil Shale…
  29. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 29
    2018 HALF YEAR RESULTS SOUTH AMERICA: HIGH-IMPACT PROSPECTS Guyana: attractive acreage up-dip of Liza-1 oil discovery; multiple prospects being matured Suriname: low-cost oil plays; Araku-1 drilled in 2017; further prospects for…
  30. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 30
    2018 HALF YEAR RESULTS GUYANA-SURINAME: EXCELLENT POSITION IN NEW OIL PROVINCE Guyana: Acreage position up-dip of Liza discoveries, 3D seismic programme completed in 2017 Multiple high-quality, shallow water prospects being…
  31. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 31
    2018 HALF YEAR RESULTS AFRICA: HIGH-IMPACT LEADS AND PROSPECTS Namibia: material oil play in low-cost shallow water setting; drilling of Cormorant prospect in 2H 2018 Mauritania: low-cost shelf-edge oil plays, 3D seismic…
  32. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 32
    2018 HALF YEAR RESULTS CTE DIVOIRE - EXTENSIVE POSITION ACQUIRED Extensive 8,600 sq km onshore acreage position built over 2017 and early 2018 Seven onshore blocks cover transform basin fault play; FTG completed in 2018; 2D…
  33. July 2018 Quarterly Presentation – Tullow Oil Plc – slide 33
    2018 HALF YEAR RESULTS Tullow Oil plc 9 Chiswick Park 566 Chiswick High Road London, W4 5XT Follow Tullow on: United Kingdom Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Email: irtullowoil.com Web: www.tullowoil.com…

From the store

Browse maps, data & reports in the Shale Experts store