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Investor Day 2018 – YPF S.A.

YPF S.A. · Oct 26, 2018 · 41 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. Investor Day 2018 – YPF S.A. – slide 1
    INVESTOR DAY New York October 26, 2018
  2. Investor Day 2018 – YPF S.A. – slide 2
    01 02 03 04 05 Welcome Strategic Business Upstream Q&A & Opening Review Outlook remarks Sergio Giorgi Miguel Gutierrez Daniel Gonzalez Pablo Bizzotto VP Strategy and Chairman CEO EVP Upstream Business Development 3
  3. Investor Day 2018 – YPF S.A. – slide 3
    INVESTOR DAY New York October 26, 2018
  4. Investor Day 2018 – YPF S.A. – slide 4
    Developing Reducing Keeping strict Dynamically Leading Vaca Muerta our cost financial and adjusting Argentine base risk discipline prices transition to a low carbon economy
  5. Investor Day 2018 – YPF S.A. – slide 5
    IMF Devaluation Political Government Collaborative agreement and GDP consensus commitment alignment decline about the towards a free with unions Strong fiscal driving role and cleaner discipline of the energy energy market sector
  6. Investor Day 2018 – YPF S.A. – slide 6
    (1) YPF SA 350% Brent Majors 300% Europeans Independents Latam 250% 200% 150% 100% (1) Total investment return, includes gross dividends 50% Majors: Chevron, Exxon, BP, Shell. Europeans: Total, Repsol, Equinor, ENI.…
  7. Investor Day 2018 – YPF S.A. – slide 7
    CEO appointment Chief Compliance Officer Our Board Diversity initiative
  8. Investor Day 2018 – YPF S.A. – slide 8
    Operational Profitable excellence and growth sustainability STRATEGIC Financial PLAN Innovation discipline and technology Transformation Integrated of our operations energy company and culture
  9. Investor Day 2018 – YPF S.A. – slide 9
    INVESTING ON LEADING MOBILITY WORLD CLASS DISRUPTION AGENDA INNOVATION
  10. Investor Day 2018 – YPF S.A. – slide 10
  11. Investor Day 2018 – YPF S.A. – slide 11
    SAFETY AND SUSTAINABILITY AS CORE VALUES TOTAL IFR of people injured for each million hours worked 2012 - 2018 (1) 1.89 YPF IFR ARPEL TIDLP ESG TARGETS BY 2022 1.05 1.05 0.91 0.91 0.74 10% CO2 emissions reduction…
  12. Investor Day 2018 – YPF S.A. – slide 12
    OUR TARGETS 5-YEAR BUSINESS PLAN / 2019-2023 (2) PRODUCTION RESERVE Adj. EBITDA CAPEX NET DEBT CAGR R.R (1) CAGR PER YEAR TO EBITDA 2019 - 2023 2019 - 2023 2019 - 2023 2019 - 2023 2023 5-7% 1x 10% 4-5…
  13. Investor Day 2018 – YPF S.A. – slide 13
    PLANNING FOR OUTSTANDING PRODUCTION GROWTH Building on our strength as unconventional leader outside USA PRODUCTION (KBOE/DAY) Oil NGL Gas 2018-2023 5-7% CAGR +20% Favoring High return & Short cycle developments 3 FIDs before…
  14. Investor Day 2018 – YPF S.A. – slide 14
    SHALE GAS DEVELOPMENT DRIVES A NEW PARADIGM IN GAS MARKET Similar to USA, Argentina is shifting from gas importer to gas exporter 240 Domestic base demand Potential production Mm3/d Mm3/d 220 200 180 160 140…
  15. Investor Day 2018 – YPF S.A. – slide 15
    OPPORTUNITIES ALONG THE INTEGRATED GAS VALUE CHAIN UPSTREAM MIDSTREAM EXPORTS POWER GENERATION PETROCHEMICALS 1 acreage holder MEGA: Potential 2019 Expect 3 to 4 GW Under study: outside USA expansion under study Exporting gas to…
  16. Investor Day 2018 – YPF S.A. – slide 16
    WE EXPECT YPF LUZ TO INCREASE ITS POWER-GENERATION CAPACITY 7 YPF POWER GENERATION CAPACITY 900 2018-2023 800 6 Pipeline + M&A Current capacity + awarded / under construction 700 5 Pipeline and 600 M&A opportunities 4 500 3…
  17. Investor Day 2018 – YPF S.A. – slide 17
    DOWNSTREAM BUILDING ON OUR LEADING POSITION TO DELIVER VALUE OPTIMIZING PURSUING LOGISTIC OUR OPERATIONS EFFICIENCY 100% Crude oil self sufficiency by 2021 Oil pipelines expansion +15% Crude processing Road trains improvement +20%…
  18. Investor Day 2018 – YPF S.A. – slide 18
    RESHAPING OUR BUSINESS TO PROFIT FROM SHALE GROWTH AND NEW TECHNOLOGY A CLEANER PLATFORM DIGITAL TRANSFORMATION IMO 2020 full compliance Analytics to optimize our processes, asset integrity and predictive maintenance Low sulphur…
  19. Investor Day 2018 – YPF S.A. – slide 19
    PROVIDING ENERGY SOLUTIONS FOR ALL TYPE OF CLIENTS BTB BTC COMPLETE PORTFOLIO COMPREHENSIVE WITH SOLUTIONS FOR RANGE OF PRODUCTS KEY INDUSTRIES AND SERVICES 1 BRAND AGRO INFRASTRUCTURE INFINIA ELAION RECOGNITION IN ARGENTINA…
  20. Investor Day 2018 – YPF S.A. – slide 20
    WE ARE DYNAMICALLY ADJUSTING PRICES (1) FUELS PRICE EVOLUTION Fuels Blended Price Import Parity) (1) (2) Inflation rate (% VARIATION) Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18…
  21. Investor Day 2018 – YPF S.A. – slide 21
    SIMPLIFYING CURRENT PROCESSES 2018 MAIN INITIATIVES TRANSFORMATION STRATEGY Well construction optimization Upstream operational efficiency Logistic optimization 15 +1,000 Energy efficiency Key People people with fully dedicated…
  22. Investor Day 2018 – YPF S.A. – slide 22
    MANAGEMENT BY OBJECTIVES INCENTIVE-BASED COMPENSATION Company-wide objectives cover Approximately Sustainability, Efficiency, Capital 82% 1,000 Discipline, Financial Discipline of employees receive short-term cash bonus employees…
  23. Investor Day 2018 – YPF S.A. – slide 23
    INVESTING WITH FOCUS ON PROFITABLE GROWTH (1) ADJUSTED EBITDA CAPEX BREAKDOWN 2019-2023 CAGR +10% 5% 19% 4.5 BUSD per year 76% Upstream Downstream Other segments 2018 2019 2020 2021 2022 2023 (1) Adjusted…
  24. Investor Day 2018 – YPF S.A. – slide 24
    INCREASING FREE CASH FLOW Net debt/ EBITDA at 1.5x CFFO Net debt/ CAPEX Dividends CASH BUILD-UP (BUSD) EBITDA + interest 2019-2023 + taxes 1.5x 1.5x Up to (1) Additional cash 1.4x 4.2 BUSD for investments 0.7x Cumulative…
  25. Investor Day 2018 – YPF S.A. – slide 25
  26. Investor Day 2018 – YPF S.A. – slide 26
    FOCUS ON DELIVERING PROFITABLE GROWTH Operational Manage the Accelerate Drive down Excellence decline rate in shale projects the break-even conventionals price Organization Technology Optimize Transform to add value the Portfolio…
  27. Investor Day 2018 – YPF S.A. – slide 27
    PRODUCTION GROWTH DRIVEN BY UNCONVENTIONAL PROJECTS TOTAL PRODUCTION (KBOE/DAY) Unconventional CAPEX Unconventional 2018-2023 Conventional 2019-2023 Conventional 5-7% CAGR 70% 31% 33% 3.6 BUSD per year 69% 67% 30%…
  28. Investor Day 2018 – YPF S.A. – slide 28
    WHILE ACTIVELY MANAGING THE DECLINE OF OUR CONVENTIONAL FIELDS CONVENTIONAL PRODUCTION (KBOE/DAY) Secondary Natural gas 2018-2023 Primary Tertiary Base curve -14% -5% Per year Per year Smoothing the decline rate by…
  29. Investor Day 2018 – YPF S.A. – slide 29
    CONVENTIONAL PRODUCTION MANAGEMENT PLAN BASED ON SUCCESSFUL RESULTS Example Example SECONDARY RECOVERY IN CUYANA BASIN TERTIARY RECOVERY IN GRIMBEEK FIELD Primary Secondary Water Primary Secondary Polymer 2003 2004 2005…
  30. Investor Day 2018 – YPF S.A. – slide 30
    EXPANDING UNCONVENTIONAL OUTPUT FROM VACA MUERTA UNCONVENTIONAL PRODUCTION (KBOE/DAY) 2018-2023 Tight gas La Amarga Chica Rincn del Mangrullo Other Shale Projects Base curve Loma Campana Bandurra Sur A. De la Arena +150% VACA…
  31. Investor Day 2018 – YPF S.A. – slide 31
    MAJOR SHALE PROJECTS GAS OIL 2019 Rincn del Mangrullo Loma Campana Ph2 La Ribera La Amarga Chica Bandurria Sur 2020 Aguada de la Arena San Roque La Calera Bajada de Aelo A. Pichana Oeste Pampa de las Yeguas I 2021 Bajo del…
  32. Investor Day 2018 – YPF S.A. – slide 32
    LOMA CAMPANA PHASE 2 DEVELOPMENT PHASE 2 METRICS 4 to 5 rigs 300 wells 2019-23 120 KBOE/D 680 MUSD gross production by 2023 gross capex per year Remaining Remaining Loma Campana 550 locations 50% acreage 2023+ 2023+ 97,600…
  33. Investor Day 2018 – YPF S.A. – slide 33
    LOMA CAMPANA CONTINUOUSLY INCREASING WELL PRODUCTIVITY AVERAGE CUMULATIVE OIL PRODUCTION (KBOE) 200 Cum. Production 150 + 40% (2016 - 2018) 100 Avg 2018 (27 stg) 22 wells - EUR 900 kboe 50 Avg 2017 (21 stg) 30 wells…
  34. Investor Day 2018 – YPF S.A. – slide 34
    WHILE IMPROVING OPERATIONAL EFFICIENCY WELL COST / STAGES Well cost / stages METERS OF HORIZONTAL LENGTH / TOTAL DRILLING DAYS 1,40 1.40 80 M of Hz length / total drilling days 14 stages 70 1,20 1.20 2,250m 60 29 d 1.00 1,00 3.6x -70%…
  35. Investor Day 2018 – YPF S.A. – slide 35
    AND REDUCING DEVELOPMENT COST AND OPEX DEVELOPMENT COST (USD/BOE) OPEX (USD/BOE) 29 16 -62% -56% -14% -27% 7 11 6 8 2015 Q3 18 2023 2015 2018 2023
  36. Investor Day 2018 – YPF S.A. – slide 36
    WITH SEVERAL NEW INITIATIVES BEING APPLIED LLL-1524H Longer laterals 21,300 ft (MD) High Density Completion (HDC) 10,500 ft 3,200 m lateral length 6+ Wells in line per PAD 1,500 BOPD Soluble Plugs peak production 1.5 MBOE New Well…
  37. Investor Day 2018 – YPF S.A. – slide 37
    NEXT FIDs GAS OIL A. DE LA ARENA LA AMARGA CHICA Acres 22,000 Acres 46,600 Wells 19-23 130 Wells 19-23 280 Rigs by 2020 3 Rigs by 2020 5 La Amarga Chica Additional Additional locations 280 locations 380 A. de la Arena R. DEL…
  38. Investor Day 2018 – YPF S.A. – slide 38
    WE BUILT AN EFFICIENT PLATFORM TO FACILITATE FUTURE GROWTH CAPEX IN FACILITIES 2014 - 2018: 3.6 BUSD 2019 - 2023: 3.9 BUSD
  39. Investor Day 2018 – YPF S.A. – slide 39
    1.2 BUSD EXPLORATION EFFORT IN THE NEXT 5 YEARS EXPANDING VACA MUERTA 2,000 KM2 and 1,900 MBOE to be investigated OFF-SHORE EXPLORATION ON-SHORE Strategic agreements EXPLORATION signed with international Other shale players…
  40. Investor Day 2018 – YPF S.A. – slide 40
  41. Investor Day 2018 – YPF S.A. – slide 41
    Miguel Gutierrez Daniel Gonzlez Pablo Bizzotto Santiago Marcos Browne Chairman CEO EVP Upstream Martinez Tanoira EVP Gas & Power EVP Downstream Lus Sas Sergio Giorgi Carlos Alfonsi Sebastian Mocorrea CFO VP Strategy EVP…

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