Q3 2020 Operations and Financial Update Third Quarter 2020 Mike Nicholson, CEO Christophe Nerguararian, CFO November 3, 2020 NC00185 p01 04.20
International Petroleum Corp. Q3 2020 Highlights(1) Q3 average net production of 41,800 boepd Production(1) Strong performance with faster than forecast production ramp-up at the Canadian assets Full year guidance revised upwards to…
International Petroleum Corp. 2020 Production Production all assets Canada International Q3 2020 production of 41,800 boepd (1) 60 Low Pricing - Above forecast Bertam A20 online Bertam rig heavy lifts and move 50 Canada…
International Petroleum Corp. Production - Q3 Update Production Growth Through Time(1) 50 46 Increasing full year 2020 guidance 41 40 40 37 34 37 Previous guidance 37,000 to 40,000 boepd Mboepd Mboepd 30 30 YTD…
International Petroleum Corp. 2020 Investment Strategy - Q3 Update(1) CAPEX & Decommissioning OPEX Maintaining 50% reduction Continued delivery on OPEX reduction Low pricing strategy maintained in all regions Major oil assets…
International Petroleum Corp. Maximising Liquidity Headroom(1) Credit facilities International facility increased to 140 MUSD; maturity extended to December 2024 Canadian facility refinanced to 350 MCAD; maturity extended to May…
Suffield Area Assets Suffield IPC Canada Suffield Asset(1) Steady performance from the Suffield gas asset Oil production ramped back up to pre-curtailment rates N2N EOR(2) pool production ramp up ahead of expectation CFB…
IPC Canada Onion Lake Thermal(1) Strong reservoir performance at Onion Lake Thermal Ramp up ahead of forecast Continued production ramp up and rate optimisation in Q4 2020 Onion Lake Thermal D pad drilling completed in 2020 -…
IPC Malaysia Operations Update(1) Malaysia High facility uptime and strong base well performance A15 activity suspended in 2020, side track planned for 2021 Maturation of 2021 organic growth programme New well target maturation…
Villeperdue Facilities Paris Basin IPC France Operations Update(1) France Stable production from all major producing fields Aquitaine Basin All development activity on hold due to low pricing environment Total to discontinue…
International Petroleum Corp. Sustainability & ESG Sustainability strategy Integration of all ESG aspects in our governance framework and business activities Publication of IPCs first Sustainability Report in line with the Global…
Third Quarter 2020 Financial Highlights 12
First Nine Months 2020 Financial Highlights Third Quarter First Nine Months 2020 2020 Production (boepd) 41,800 41,200 Average Dated Brent Oil Price (USD/boe) 42.9 41.1 Operating costs (USD/boe) (1) 12.4 11.9 Operating cash flow…
First Nine Months 2020 Realised Oil Prices YTD Q3 2020 Q2 2020 Q1 2020 2019 2018 Brent 41.06 42.94 29.56 50.10 64.21 71.31 Malaysia 43.51 (+2.45) 45.55 (+2.61) 31.61 (+2.05) 48.92 (-1.18) 69.87 (+5.66) 74.88 (+3.57) France 32.83…
First Nine Months 2020 Realised Gas Prices YTD Q3 Q2 Q1 Full Year CAD/mcf 2020 2020 2020 2020 2019 Realised Price CAD/Mcf AECO 2.09 2.24 1.99 2.03 1.80 Empress 2.08 2.23 1.99 2.03 2.49 Empress / AECO differential Realised 2.12…
First Nine Months 2020 Financial Results Operating Cash Flow & EBITDA (1) Operating Cash Flow EBITDA 250 250 229.1 225.2 200 200 150 150 Million USD Million USD 100 100 65.4 50 73.4 50 0 0 9M 9M 9M 9M…
First Nine Months 2020 Operating Costs (1) USD/boe USD/boe operating costs 20 20 16 16 2020 Operating Costs: 12 12 12-13 USD/boe guidance 8 8 4 4 0 0 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Actual Actual Actual Forecast…
First Nine Months 2020 Netback (1) (USD/boe) Third Quarter First Nine Months 2020 2020 Average Dated Brent oil price (42.9 USD/bbl) (41.1 USD/bbl) Revenue 24.8 19.6 Cost of operations -10.3 -10.1 Tariff and transportation -1.4…
First Nine Months 2020 Cash Flows and Closing Net Debt(1) (MUSD) 0 0 -200 -200 Operating Cash Flow Development capex MUSD 73.4 MUSD -65.7 -250 -250 G&A MUSD -8.0 -300 Fx on net debt -300 Opening Net Debt MUSD 3.6 1 Jan…
First Nine Months 2020 G&A / Financial Items MUSD Third Quarter 2020 First Nine Months 2020 G&A 2.9 8.0 G&A Depreciation 0.4 1.2 G&A Expense 3.3 9.2 Third Quarter 2020 First Nine Months 2020 Interest expense 3.1 9.5 Loan…
First Nine Months 2020 Financial Results 250 Revenue 250 MUSD 220.8 41,200 boepd 200 Production costs 200 MUSD -147.4 Operating costs (1) 11.9 USD/boe Million USD 150 150 Million USD 100 100 Cash Margin MUSD…
First Nine Months 2020 Balance Sheet MUSD 30 Sep 2020 31 Dec 2019 Assets Oil and gas properties 1,119.8 1,105.5 Other non-current assets 172.9 147.1 Current assets 85.3 112.0 1,378.0 1,364.6 Liabilities Financial liabilities…
30 September 2020 Financial Hedging in Canada Oil Hedges Period Volumes Type Weighted bbls per day average per bbl October 1, 2020 - December 31, 2020 350 WTI SWAP CAD 71.25 October 1, 2020 - December 31, 2020 8,050 WCS SWAP USD…
International Petroleum Corp. Q3 2020 Highlights(1) Q3 average net production of 41,800 boepd Production(1) Strong performance with faster than forecast production ramp-up at the Canadian assets Full year guidance revised upwards to…
Loading...
