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Investor Day – Ecopetrol S.A.

Ecopetrol S.A. · Jul 9, 2020 · 31 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 – Ecopetrol S.A. – slide 1
  2. Investor Day – Ecopetrol S.A. – slide 2
    O P E R AT I O N A L AND FINANCIAL R E S U LT S Second Quarter 2020
  3. Investor Day – Ecopetrol S.A. – slide 3
    OUR SPEAKERS Felipe Bayn Jaime Caballero Uribe CEO CFO Alberto Consuegra COO 3
  4. Investor Day – Ecopetrol S.A. – slide 4
    Committed to life and business continuity Gradual increase in operating activities of work-fronts in worksites* DIGITAL Beginning of Preventive Beginning of Mandatory TRANSFORMATION 350 Isolation in Ecopetrol Isolation in…
  5. Investor Day – Ecopetrol S.A. – slide 5
    Unprecedented contraction with gradual recovery GLOBAL OIL SUPPLY AND DEMAND* DOMESTIC FUELS DEMAND** BASKET PRICE US/BL*** mmbd mbd mbd 62.3 US/ Bl 37.1 US/ Bl 105 10 290 272 Jet 34 71.7 Jet 8 35 Forecast 66.2 100 6 211…
  6. Investor Day – Ecopetrol S.A. – slide 6
    Results impacted by market conditions 723 720 730 735 677 X= 69 X= 62 X= 62 X= 51 X= 33 18,309 18,014 18,581 15,072 8,307 8,270 8,442 7,174 5,257 3,487 3,011 4,009 1,996 133 25 2Q 2019 3Q 2019 4Q 2019 1Q 2020 2Q…
  7. Investor Day – Ecopetrol S.A. – slide 7
    Operating milestones Exploration Midstream mbd Colombia Merecumbe-1 gas well MERECUMBE (SUCCESSFUL) 927 1,031 2Q 2020 1H 2020 924 919 937 discovery* (Dep. Atlntico) Transported volume International (mbd) April Abril May Mayo…
  8. Investor Day – Ecopetrol S.A. – slide 8
    Interventions reflected in cost trend change Group operating costs and expenses* Quarterly trend Monthly trend COP T COP T 0.49 0.41 2.69 2.84 1.0 1.1 2.28 2.35 0.9 0.9 0.8 0.8 0.8 0.8 0.8 0.8 0.7 0.7 1Q 2Q Jan Feb Mar Apr…
  9. Investor Day – Ecopetrol S.A. – slide 9
    Financial metrics adjusted to current juncture EBITDA Ebitda/Bl Stable organic EBITDA Margin 7.3 COP T 15.3 US/BL US M investment levels 45% 44% 46% Target 31% 3,521 3,000 3,400 30.8 31.1 39.6 35.8 15.7 37.4 7.3 15.3 2018…
  10. Investor Day – Ecopetrol S.A. – slide 10
    Positive net income despite worst conditions on record COP T (Variation between periods) 6.23 -5.95 1.01 -0.93 0.22 -3.00 3.10 -0.03 0.08 0.16 -0.49 Net Price and Volume Costs + Financial Tax Non- Net income Non-…
  11. Investor Day – Ecopetrol S.A. – slide 11
    BUSINESS PLAN U P D AT E 2020 2022
  12. Investor Day – Ecopetrol S.A. – slide 12
    Plan responds to crisis and protects pillars of 2020+ Strategy 1 Reserves and Production Growth RESERVES AND PRODUCTION GROWTH Existing Fields: enhanced recovery technology and focus in opportunities that generate the most value…
  13. Investor Day – Ecopetrol S.A. – slide 13
    Upstream Picture: Cusiana
  14. Investor Day – Ecopetrol S.A. – slide 14
    Upstream investments focused on sustainability Exploratory Resources to +400 Northern Area 8% US 9,000 - 10,000 M wells +30 delimit (2020-2022) E&P Capex (2020-2022) mmboe 2020 (2020-2022) PRODUCTION Llanos Area 700-720…
  15. Investor Day – Ecopetrol S.A. – slide 15
    Profitable production and reserves protection FOCUS ON VALUE AND OPTIONALITY RESERVES POTENTIAL UNCHANGED (%) Percentage share in production volumes 2020-2022 **HCIIP and Recovery Factor - Ecopetrol S.A.- 1.3% - 3% 20 19 19 19 19 19…
  16. Investor Day – Ecopetrol S.A. – slide 16
    Gas is a strategic priority Supply and Demand Balance* FOCUS: 2,500 2,000 Regasification Development of Piedemonte 1,500 Strengthening of Guajira GBTUD assets 1,000 Development of Offshore Potential Colombian Caribbean…
  17. Investor Day – Ecopetrol S.A. – slide 17
    Progress in unconventional reservoirs PPIIs* PERM IAN MID - MAGDALENA VALLEY (VMM) Prospect Area 51% 49% OXY 1.3 m acres ECOPETROL Ecopetrol Area PERMIAN 730 k acres (Rodeo JV) Knowledge transfer Preliminary agreement…
  18. Investor Day – Ecopetrol S.A. – slide 18
    Midstream Picture: Oleoducto de Los Llanos
  19. Investor Day – Ecopetrol S.A. – slide 19
    Focus on integrity and reliability of supply STRATEGIC PRIORITIES Integrity and reliability of 2020 - 2022 TARGETS infrastructure Logistical flexibility and efficiency in transportation of heavy crudes 1,000 - 1,025 Cost…
  20. Investor Day – Ecopetrol S.A. – slide 20
    Downstream Picture: Barrancabermeja Refinery
  21. Investor Day – Ecopetrol S.A. – slide 21
    Competitiveness in low price environment STRATEGIC TARGET 2020-2022 PRIORITIES 300 - 380 Initiatives to improve margin and Throughput (mbd) capacity Reliability of the operation Cartagena Refinery Maximizing value of existing…
  22. Investor Day – Ecopetrol S.A. – slide 22
    Resultados Excepcionales Financials
  23. Investor Day – Ecopetrol S.A. – slide 23
    Optimized portfolio that safeguards value proposition INVESTMENT PLAN 11% 2% 2020-2022 7% Upstream Safe, reliable and 11,000 13,000 Midstream profitable Downstream production 2020 -2022 (US M) 80% Corporate Cash flow…
  24. Investor Day – Ecopetrol S.A. – slide 24
    Investment plan underpinned by cashflow growth 2020-2022 Cashflow (US M) 4,506 2,416 Cashflow Sensitivity 646 17,375 US M 11,436 +/- 1 US/Bl -508 508 2020 1,942 2021 4,359 -497 497 +/- 100 COP/USD 2022 5,134 3,203 +/- 5…
  25. Investor Day – Ecopetrol S.A. – slide 25
    Intensified focus on cost efficiency 2020 COST SAVINGS INCREMENTAL TARGET BY 2022 GROUP - WIDE UPSTREAM Austerity measures Remote work Synergies between segments (dilution 2.5 3.0 Headcount strategy) 2021 -2022 (COP T)…
  26. Investor Day – Ecopetrol S.A. – slide 26
    TESG* commitment DECARBONIZATION INNOVATION AND TECHNOLOGY INVESTMENT 2020-2022 Reduction of 20% emissions by 2030 MW RENEWABLE ENERGY 184 158 US M 34 43 Initiatives in place: 3 6 27 SOCIO-ENVIRONMENTAL INVESTMENT…
  27. Investor Day – Ecopetrol S.A. – slide 27
    Growing value creation TARGET METRIC 2020 2020- 2022 US 3,000 3,400 M US 11,000 13,000 M FINANCIAL Organic Investments Operating Cashflow US 1,900 M US 11,000 M 12,000 M Cash Breakeven* < US30 /Bl US 30 - 40 /Bl Gross Debt /…
  28. Investor Day – Ecopetrol S.A. – slide 28
    20-22 Plan summary Responds to the crisis and protects pillars of 2020+ Strategy Stable investment levels and profitable production that protects EGs sustainability Growing value creation Ratified commitment to TESG 29
  29. Investor Day – Ecopetrol S.A. – slide 29
  30. Investor Day – Ecopetrol S.A. – slide 30
    Q&A PARTICIPANTS Felipe Bayn CEO Alberto Consuegra Jaime Caballero Uribe COO CFO Jorge Osorio Jorge Calvache VP Development and VP Exploration Production Milena Lpez Walter Fabian Canova Director of Strategy and VP…
  31. Investor Day – Ecopetrol S.A. – slide 31

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