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Opportunity Day: Q2 2014 – PTTEP

PTTEP · Aug 20, 2014 · 32 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. Opportunity Day: Q2 2014 – PTTEP – slide 1
    PTT Exploration and Production Public Company Limited Opportunity Day: Q2 2014 Stock Exchange of Thailand August 20, 2014 Passion to Explore for a Sustainable Future
  2. Opportunity Day: Q2 2014 – PTTEP – slide 2
    Agenda Company Overview and Industry Update 1H 2014 Financial Performance 1H 2014 Key Achievements & 2H 2014 Outlook 3 3 / 16
  3. Opportunity Day: Q2 2014 – PTTEP – slide 3
    Leading Regional Exploration and Production Company Largest publicly-listed E&P company in Southeast Asia (SEA) PTTEP is the 2nd largest company on is a subsidiary of PTT Public Company the Stock Exchange of Thailand (SET) Limited…
  4. Opportunity Day: Q2 2014 – PTTEP – slide 4
    Internationally Diversified and Balanced Portfolio Worldwide operations: 44 projects* in 11 countries Thailand (18) Southeast Asia (16) 14 Production 6 Production North America (1) 1 Development 10 Exploration 1 Exploration 3…
  5. Opportunity Day: Q2 2014 – PTTEP – slide 5
    Oil Prices Continued volatility from geopolitical conflicts Dubai Brent Brent Forward Curve Geopolitical Drivers Brent Bloomberg Brent Consensus Violent confrontations in Northern Iraq risks Consensus Range spreading and disrupting…
  6. Opportunity Day: Q2 2014 – PTTEP – slide 6
    Thai Energy Reform: Upstream E&P Lingering Questions 21st Contract 1-3, 5 Bongkot Continuation of 21st Petroleum expiring concessions Bidding Round B5 B6 OCA B7 Production Sharing B8 Contracts B9 Concessions B10…
  7. Opportunity Day: Q2 2014 – PTTEP – slide 7
    Agenda Company Overview and Industry Update 1H 2014 Financial Performance 1H 2014 Key Achievements, 2H 2014 Outlook 8 8 / 16
  8. Opportunity Day: Q2 2014 – PTTEP – slide 8
    Sales Volume, Price and Unit Cost Record volume coupled with higher prices Sales Volume and Price Unit Cost Liquid Gas Cash Cost Unit Cost KBOED /BOE 292,629 307,263 40 39.43 C 300,000 275,923 32.22 33.94 104,254 92,609…
  9. Opportunity Day: Q2 2014 – PTTEP – slide 9
    1H 2014 Earnings Contributions Maintained strong core earnings despite higher cost from Montara NI ( MMUSD ) 1,600 + 94 -350 + 218 1,200 + 152 - 105 1,041 - 41 -23 - 15 -31 940 800 400 0 1H1313 1H Sales Income tax…
  10. Opportunity Day: Q2 2014 – PTTEP – slide 10
    1H 2014 Cash Flow Performance Strong operating cash flows from stronger sales volume Cash Flow Performance Source & Use of Funds 1H 2014 MMUSD MMUSD KBOE/D 4,000 400 4,000 3,761 3,470 3,675 2,908 3,000 3,000 Sales Volume…
  11. Opportunity Day: Q2 2014 – PTTEP – slide 11
    1H 2014 Financial Position Healthy capital structure with low gearing and cost of debt Capital Structure D/E Ratio MMUSD 25,000 1.00 22,877 21,572 20,000 19,637 5,352 0.80 5,830 5,153 15,000 4,274 0.60 4,023 3,773 10,000…
  12. Opportunity Day: Q2 2014 – PTTEP – slide 12
    Dividend 1H 2014 Consistent and solid dividend payout Dividend Payment History (No Less Than 30% of Net Income) 1H 2H Payout Ratio THB per share 10 50% Payout Ratio 40% 40% 40% 40% 38% 6.00 5.80 5.40 5.03 5 25% 3.00…
  13. Opportunity Day: Q2 2014 – PTTEP – slide 13
    Agenda Company Overview and Industry Update 1H 2014 Financial Performance 1H 2014 Key Achievements & 2H 2014 Outlook 1414 / 16
  14. Opportunity Day: Q2 2014 – PTTEP – slide 14
    1H 2014 Key Achievements Establishing a strong base for growth Focus Areas Key Accomplishments Spudded Maple-East exploration well in Australia Embark on New Entered into Brazil exploration project Exploration Challenges Discovery…
  15. Opportunity Day: Q2 2014 – PTTEP – slide 15
    2H 2014 Outlook Carrying growth momentum through year-end Average Price Gas : 8 USD/MMBTU Expectation Dubai : 104 USD/BBL Average Sales Volume Expectation 330 KBOED (2H 14) (2014 : 10% growth) EBITDA Margin Expectation 70%…
  16. Opportunity Day: Q2 2014 – PTTEP – slide 16
    Q&A Exploring new horizons, we take every step as learning For more information, please visit our website at http://www.pttep.com OR Contact us via email address at IRpttep.com OR Call us at +66 2 537 4000 17
  17. Opportunity Day: Q2 2014 – PTTEP – slide 17
    Supplementary Index 1. 2H 2014 Key Activities 2. Zawtika Project Progress 3. Algeria Bir Seba Project Progress 4. 2H 2014 Key Exploration and Appraisal Program 5. Awards 6. Operating and Financial Performance Details 7.…
  18. Opportunity Day: Q2 2014 – PTTEP – slide 18
    2H 2014 Key Activities Shifting up gears for high potential drilling prospects and development in key projects Focus Areas Country Key Projects Q3 14 Q4 14 2015 2020 Brazil Barrerinhas AP1 Seismic + G&G Potential 1st drilling…
  19. Opportunity Day: Q2 2014 – PTTEP – slide 19
    The Zawtika Project Journey First PTTEP-operated project in Myanmar From exploration to discovery & development challenges to delivering 300 MMSCFD to Myanmar and Thailand Gas to Myanmar 60 MMSCFD Myanmar - Thailand…
  20. Opportunity Day: Q2 2014 – PTTEP – slide 20
    Algeria Bir Seba (Block 433a & 416b) On-target for production start-up by year end Construction progress on-track for first production by end of 2014 at planned capacity of 20,000 BPD ALGERIA Central Temporary Living…
  21. Opportunity Day: Q2 2014 – PTTEP – slide 21
    2H 2014 Key Exploration and Appraisal Program Primary focus to further uncover Myanmar resource potential Algeria 3 wells to drill in Algeria HBR Thailand Myanmar project from 2H 2014 to 1H 2015 13 wells completed in 1H 2014 11…
  22. Opportunity Day: Q2 2014 – PTTEP – slide 22
    Awards Recognition of corporate excellence Turning Performance into Success Top 50 Publicly Listed Company in Thailand : ASEAN Corporate Governance Picture Scorecard 20132014 -Thai Institute of Directors (Award) (IOD) Best…
  23. Opportunity Day: Q2 2014 – PTTEP – slide 23
    PTTEP Sales Volume and Average Product Price Record volume coupled with higher prices Sales Volume Liquid BOED Gas 298,621 315,810 307,263 300,000 292,721 292,102 107,791 Q2 2014 100,678 104,254 103,301 101,975 Volume Mix…
  24. Opportunity Day: Q2 2014 – PTTEP – slide 24
    Operating Performance Higher depreciation mainly from Montaras contribution Cash Cost Unit Cost /BOE (US/BOE) Q1 14 Q2 14 Q2 13 6M 14 6M 13 41.37 40 37.35* 39.43* 30.87 31.60 30 Lifting Cost 5.35 5.83 4.69 5.60 4.58…
  25. Opportunity Day: Q2 2014 – PTTEP – slide 25
    Financial Performance : Income Statement EBITDA margin maintains at level of 70% Q1 14 Q2 14 Q2 13 6M 14 6M 13 Sales Revenue* (MMUS) 1,813 1,980 1,820 3,792 3,655 EBITDA (MMUS) 1,268 1,409 1,327 2,677 2,665 Net Profit (MMUS) 380…
  26. Opportunity Day: Q2 2014 – PTTEP – slide 26
    Financial Performance : Balance Sheet Healthy balance sheet with low gearing ratio Credit Ratings: BBB+ (S&P), Baa1 (Moodys) , AAA (TRIS) Q1 14 Q2 14 Q2 13 6M 14 6M 13 Total Assets (MMUS) 22,086 22,877 19,844 22,877 19,844 - Cash &…
  27. Opportunity Day: Q2 2014 – PTTEP – slide 27
    PTTEP Projects Information (1 / 4) Project PTTEPs Partners 1H 2014 Average Sales Volume * 2014 Key Activities Share Gas Oil and Other Production Phase Thailand and JDA 1 Arthit 80% Chevron 16% 217 MMSCFD - Ensure gas deliverability…
  28. Opportunity Day: Q2 2014 – PTTEP – slide 28
    PTTEP Projects Information (2 / 4) Project PTTEPs Partners 1H 2014 Average Sales Volume * 2014 Key Activities Share Gas Oil and Other Production Phase Overseas 15 Oman 44 100% 27 MMSCFD - Drill Exploration / Appraisal wells…
  29. Opportunity Day: Q2 2014 – PTTEP – slide 29
    PTTEP Projects Information (3 / 4) Project PTTEPs Partners 2014 Key Activities Share Development Phase : Thailand and JDA 23 L22/43 100% Drill 3 Exploration wells Fabrication and installation of Wellhead production facility Overseas…
  30. Opportunity Day: Q2 2014 – PTTEP – slide 30
    PTTEP Projects Information (4 / 4) Project PTTEPs Partners 2014 Key Activities Share Exploration Phase (cont) Overseas (cont) 32 Indonesia South 34% Talisman 33% Negotiation with Total (Operatorship transfer & Carry cost) Mandar TOTAL…
  31. Opportunity Day: Q2 2014 – PTTEP – slide 31
    Corporate Social Responsibility Committed to Sustainable Development through Environmental Conservation and Community Development everywhere we operate Canada Myanmar LEGEND Oman Cultural Heritage Preservation 5 Sites; e.g.…
  32. Opportunity Day: Q2 2014 – PTTEP – slide 32
    Corporate Structure Board of Directors and several committees to ensure transparency and integrity Board of Directors Nominating Committee Corporate Governance Committee Remuneration Committee Audit Committee Risk Management…

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