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1Q 2020 Operational and Financial Results – Ecopetrol S.A.

Ecopetrol S.A. · May 26, 2020 · 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. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 1
    OPERATIONAL AND FINANCIAL RESULTS First Quarter 2020 May 12th, 2020 Picture: Chuchupa Field
  2. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 2
    OUR SPEAKERS Felipe Bayn Jaime Caballero Uribe CEO CFO Alberto Consuegra Juan Pablo Crane COO Head of Capital Markets 3
  3. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 3
    Life ensures business continuity RESPONSE Leadership IT Management PLAN COVID-19 COVID-19 Crisis Committee Health Response Committee Secure digital connection for +9,000 employees Diagnostic tests at Barrancabermeja Chatbot to…
  4. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 4
    Oil market is currently facing an unprecedented supply and demand shock INDICATORS BASKET PRICE (USD/BL) GLOBAL SUPPLY AND DEMAND FOR CRUDE* COP mmbd 200,262 Bl USD 59.6 / BL USD 47.4 / BL COP 15 110 179,683 Bl 70.0 105 63.8…
  5. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 5
    Optimization of logistics chain according to demand Crude Products Commercial Strategy Storage National Demand 2020 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Mmbl 4.7 290 272 mbd Strategic 34 Positioning our crudes capacity 35…
  6. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 6
    Facing this new challenge COP 3.5 Tn USD 130 M We maintain investments OPEX REVENUE Commercial in strategic projects (COMMERCIAL) Strategy Optimization Enhanced Oil Recovery Technologies COSTS AND EXPENSES Gas Opportunities…
  7. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 7
    Rodeo JV: Flexibility of short cycle assets 2020 Initial Plan 2020 Updated Plan 51% 49% Ecopetrol Net Production Ecopetrol Net Production 79 45 Permian (Rodeo JV) mboed mboed Operated rigs Temporary release of rigs 4 Operated…
  8. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 8
    First Quarter 2020 Results FINANCIAL OPERATING ESG* Reversal of Verified reduction of Net Production COP 133 Bn (mboed) 735 Piedemonte Association Contract 178,099 Tons Income Exploratory Wells Drilling Ebitda COP 5.3 Tn 3…
  9. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 9
    Upstream Picture: Cusiana Field 10
  10. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 10
    Progress in the incorporation of resources MATURITY OF DISCOVERIES EXPLORATORY ACTIVITY Q1 20 Andina Flamencos Bullerengue Arrecife Esox Norte Under Production In production Planned In production commercial testing and testing and…
  11. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 11
    Focus on profitable production mboed 5 4 1 5 735 5 730 27 8 14 1-21 660-680 Q4 19 Operative Field reversion Acquisitions 2019 Security events Q1 20 Lower activity Profitability criteria Reduced Other (operating, Natural gas…
  12. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 12
    Gas remains strategic priority Lower self-consumption: due to lower 10% Upstream Income throughput in refineries and closing of fields Demand contracted at fixed prices Force Majeure Demand Protection: sector measures to…
  13. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 13
    Continuous capture of efficiencies Dilution Cost Lifting Cost Drilling Days (USD/Bl) (USD/Bl) (Days) 23.6 8.7 8.6 8.2 20.7 7.1 - 7.8 19.1 4.5 4.1 3.7 8.5 7.3 6.5 2018 2019 Q1 20 2018 2019 Q1 20 2020 (e) 2018 2019 Q1 20…
  14. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 14
    Midstream Transporte
  15. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 15
    Stability amid a challenging environment Transported volumes (mbd) Revenue (COP Tn) EBITDA (COP Tn) 1,137 1,136 3.05 3.18 2.57 2.49 1,071 1,068 260 263 2.73 2.19 266 272 2.50 1.94 805 796 877 873 78% 80% 84% 78% Q1 17 Q1 18…
  16. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 16
    Downstream Picture: Barrancabermeja Refinery
  17. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 17
    Adapting operations to new demand conditions Sales Volume (MBD) Throughput (MBD) Diesel -21% Q1 20 161 165 350 345 367 365 Gasoline 131 Jet 305 195 199 219 215 165 -44% -23% 154 146 149 150 140 138 Jan.20 Feb.20 Mar.20 34 35…
  18. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 18
    Financial Results Resultados Excepcionales
  19. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 19
    Net income impacted by inventory valuation and recognition of impairments COP Tn 2.75 0.74 0.14 1.24 1.04 0.03 1.07 0.93 0.68 0.16 0.13 Net Income Q1 19 Price and exchange rate Volume effect* Costs+expenses+DD&A Non-recurr.…
  20. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 20
    Financial indicators reflect market conditions Ebitda Margin (%) Ebitda Q1 20 Gross debt /Ebitda* COP 5.3 Tn 34.9% % by segment 1.6x 6.4% 5.3% 3.0% 5.4% E&P Midstream 28.3% 32.2% 34.9% 47.3% Downstream 45.4 43.9 46.1 34.9 1.2…
  21. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 21
    Robust cash position to face market conditions Cashflow COP Tn 2.6 3.5 12.1 0.6 1.5 11.7 0.4 Cash balance 2019* Cash flow from Capex Debt Dividends Other** Cash balance Q1 20* operations Ecopetrol Ocensa ODL Bicentenario…
  22. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 22
    Short-term financial framework USD 30-40 /Bl CASH PROTECTION CAPITAL DISCIPLINE RESILIENCE / FLEXIBILITY Sustainable production CAPEX Cash…
  23. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 23
    2020 Perspectives USD 30 40 /Bl Our priorities: Q2 2020 (e) 2020 (e) Commitment to life Production 660 - 680 664 - 710 (mboed) Adapting to a new reality Transported 800 - 1,000 850 - 1,100 Cash protection and capital Volume…
  24. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 24
    GLOSSARY Acronym Definition Bl Barrel Bn Thousand of million bped Barrels of oil equivalent per day COP Colombian pesos ESG Environmental, Social and Governance GEE Business Group JV Joint Venture kbd Thousand of barrels per…
  25. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 25
    Q&A
  26. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 26
    Q&A PARTICIPANTS Felipe Bayn CEO Alberto Consuegra Jaime Caballero Uribe COO CFO Pedro Manrique Jorge Calvache Commercial and Marketing VP VP of Exploration Walter Fabian Canova Milena Lpez VP of Refining and Industrial…
  27. 1Q 2020 Operational and Financial Results – Ecopetrol S.A. – slide 27

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