Contents 1 Q1 2014 Results 2 Financial Situation 3 YSUR Yacimientos del Sur 4 Summary 3
Q1 2014 Results Highlights (1) See description of Adj. EBITDA in footnote (2) on page 5 Revenues of ARS 30.7 bn (+65% vs. Q1 2013) (2) Excludes acquisitions of YSUR and 38,45% interest in Puesto Hernndez joint venture Adj. EBITDA…
Q1 2014 Results Expressed in US Dollars Despite the 52% depreciation of the peso, Revenues, Adj. EBITDA and Operating Income presented solid y-o-y growth. Revenues (1) Adj. EBITDA (1) (2) Operating Income (1) (MUSD) (MUSD)…
Q1 2014 Operating Income Revenue growth drove Q1 2014 Operating Income increase of 73%. In million of ARS 12,030 11 -4,567 -2,776 4,384 -1,735 2,533 -991 -121 Q1 2013 Revenues Others Other Other costs Purchases DD&A…
Q1 2014 Operating Income Solid performance across both business segments resulted in balanced growth and margin expansion. In million of ARS 1,141 4,384 1,243 -533 2,533 Q1 2013 Downstream Upstream Others Q1 2014 7
Q1 2014 Upstream Results Upstream Operating Income reached 3,013 MARS (+61%) due to higher revenues driven by the increase of both crude oil and natural gas production and by higher prices in pesos. In million of ARS 6,010…
Q1 2014 Upstream Results Production Fourth consecutive quarter of production growth. Total y-o-y production growth of 10.7%, 6.8% in crude oil and 18.5% in natural gas. Crude oil production (1) Natural gas production (1) Total…
Q1 2014 Upstream Results Production Solid conventional production increase, y-o-y increase of 5.9% in crude oil and 11.2% in natural gas, coupled with inorganic growth and continued Shale and Tight progress. Crude oil production…
Q1 2014 Downstream Results Downstream Operating Income grew 102.7% in Q1 2014, due to higher revenues both in the domestic market and in the export market. In million of ARS 10,546 -7,776 2,453 -878 -444 1,210 -173 -32 Q1…
Q1 2014 Downstream Results - Sales Solid demand reflected in an increase in volumes sold; slight market share growth. Crude processed Domestic sales of refined products (kbbl/d) (Km3) -4.5% +2.8% 288 3,889 3,999 275 +6%…
Q1 2014 Capex1 In million of ARS 16,246 Upstream Acquisitions Others Neuquina basin: Loma La Lata, Downstream Loma Campana, Aguada Toledo, Upstream +279% and Chihuido Sierra Negra 6,524 Golfo San Jorge basin: Manantiales Behr,…
Contents 1 Q1 2014 Results 2 Financial Situation 3 YSUR Yacimientos del Sur 4 Summary 14
Q1 2014 Cash Flow From Operations Cash flow from operations grew 78% against Q1 2013. Sound capital structure (Net Debt / Adj. EBITDA LTM of 1x) 3. In million of ARS 6,715 +78% 6,715 1,872 3,770 10,713 11,500 3,109…
Financial Situation Update1 Cash position larger than full year debt maturities. Continued to extend average life of debt. Financial debt amortization schedule (1) (2) Peso denominated debt 32% (MUSD) Average interest rates of 24.14%…
Contents 1 Q1 2014 Results 2 Financial Situation 3 YSUR Yacimientos del Sur 4 Summary 17
YSUR - Yacimientos del Sur Actual figures 49.1 Kboe/d production (1) Revenues(2): 977 MARS 9.8 Kbbl/d of crude Argentina Operating Income (2): 159 MARS 6 Mm3/d of natural gas 1.7 Kbbl/d of NGL EBITDA(2): 472 MARS 2 drilling rigs…
Contents 1 Q1 2014 Results 2 Financial Situation 3 YSUR Yacimientos del Sur 4 Summary 19
Summary Increased results and margins in dollar terms Increased hydrocarbon production more than 10% Solid demand; volume and price increases Strong operating cash flow; Proven access to debt capital markets Continued full scale…
Questions and Answers 1st Quarter 2014 Earnings Webcast
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