2014 Full-year results 20 February 2015 GLNG Plant, Curtis Island
Full-year summary and Production growth, record sales and significant project milestones business outlook Focus on operating efficiencies and cost savings Safety & Project Delivery Cost Savings Performance LTIFR of 0.67 per…
Safety performance Lost time injury frequency rate of 0.67 per million hours worked Safety performance (employees and contractors) Rate per million Work hours hours worked (million) 7 60 6 5.8 50 5.0 5 40 4 3.6 3.8 3.5 3.3…
Focus on operating Responding to the market environment efficiency and cost Financial and operating discipline savings Capital expenditure Working with suppliers to reduce costs billion 4 Subsurface contracts: 5-30% cost savings 3.6…
2014 Full-year financial results Andrew Seaton Chief Financial Officer Hides Gas Conditioning Plant, PNG LNG
Summary of 2014 results Underlying net profit up 6% despite lower oil prices Reported net loss after previously announced non-cash impairments Underlying business performance remains strong Major growth expenditure behind us…
2014 Full-year Growth in production, sales revenues and EBITDAX financial result Underlying profit of 533 million, up 6% Non-cash impairments of 1.6 billion after tax 2014 Full-year Change on 2013 Production 54.1 mmboe +6% Sales…
Production 2014 production of 54.1 mmboe highest in 5 years 2015 guidance unchanged at 57-64 mmboe 2014 Q-on-Q production growth Production kboe/day Successful start-up of the PNG LNG project ahead 200 of schedule in April 2014 156…
2014 Full-year Record sales revenue and growth in EBITDAX financials Sales revenue million EBITDAX 4,500 million 4,037 2,500 4,000 3,602 12% 2,153 1,992 8% 3,500 932 2,000 830 3,000 3,105 2,500 2,772 1,500 2,000 1,000…
2014 Full-year Production costs and DD&A were in line with guidance financials Targeting 10% reduction in production costs per barrel in 2015 Production Costs DD&A costs million million 1,000 1,200 900 42 16.0/boe 29 115 (15)…
2014 Full-year Underlying profit up 6% to 533 million financials Non-cash impairments of 1.6 billion after tax NPAT and underlying profit Reconciliation of underlying profit million million 800 800 60 (90) 600 188 700 (54) 516…
2014 Full-year Operating cash flow up 13% to 1.8 billion financials Forecast free cash flow positive in Q4 2015 at US60/bbl oil Operating cash flow Reconciliation of operating cash flow million million 2,000 3,000 13% 1,843 2,500…
Dividends Final dividend maintained at 15 cents per share, fully franked, with underwritten DRP Full-year dividend 35 cents, up 17% Fully-franked dividends declared per share Final dividend maintained at Cents per share 15 cents…
Capital expenditure Capex in 2014 3.6 billion excluding capitalised interest 2015 forecast spend 44% lower than 2014 Full-year capital expenditure Breakdown of 2014 capital expenditure (excludes Abillion capitalised interest) -13%…
Reserves and resources 2014 2P reserves reflect previously advised reduction in Gunnedah Basin reserves 2P reserves 2013 - 2014 Proved plus probable (2P) reserves mmboe were 1,245 mmboe, 9% lower 1,600 than 2013 2P Reserves life of…
Balance sheet and 2.9 billion in liquidity funding Minimal debt maturities until 2017 A0.8 billion in cash and A2.1 billion Debt maturity profile Notes mature in 2070, with Santos Amillion option to redeem in 2017 undrawn debt…
Project delivery David Knox Managing Director and Chief Executive Officer GLNG Plant, Curtis Island
2014 Highlights Three projects delivered, GLNG in commissioning and exploration success in the Browse Vietnam oil Dua project delivered on schedule in July 2014 Malaysia Farm-in to two deepwater Indonesia gas blocks, drilling…
GLNG project On track for first LNG in the second half of 2015 GLNG provides positive free cash flow at US40/bbl oil Surface LNG plant Gas supply facilities & and port pipelines Fairview wells performing strongly Fairview Hub…
GLNG upstream Upstream is ready to supply gas to the plant Performance of Fairview wells continues to exceed expectations Field well capacity 500 TJ/d Well capacity expected to be 600 TJ/day by the end of 2015 Roma well…
GLNG downstream Significant milestones achieved in 2014 Commissioning well underway and on track for first LNG in 2H 2015 Gas transmission pipeline complete and gassed-up to Curtis Island QGC interconnects complete and…
PNG LNG project Successful delivery of the project ahead of schedule. 55 cargoes shipped in 2014 Santos well positioned for potential expansion Delivered ahead of schedule and now producing ahead of expectations First LNG train in…
Browse Basin Appraisal planning and evaluation of development Greater Crown and concepts progressing Lasseter Multi-tcf resource position established on the back of Crown and Lasseter discoveries Concept evaluation and appraisal…
Bonaparte Basin Successful carried 3 well appraisal drilling program Barossa Caldita supports standalone capability for LNG expansion or backfill Drilling last of three well appraisal program Barossa-2 drilled in the core of the…
Summary Production growth, record sales and significant project milestones Focus on operating efficiencies and cost savings LNG project delivery Continued exploration success Underlying business performance remains strong…
Reference Slides 20 February 2015 Tanumbirini 1, McArthur Basin Exploration well drilled in Q4 2014
Impairment Non-cash impairment charge of 1.6 billion after-tax Impairment loss by asset*0 200 400 600 800 1000 Significant fall in global commodity prices Amillion and a follow-on reduction in future oil price assumptions Gunnedah…
2015 guidance Item 2015 guidance Production 57-64 mmboe Production costs 14.2-14.6/boe DD&A expense 17.5-18.0/boe Capital expenditure (including exploration & evaluation)1 2 billion 1 Capital expenditure guidance excludes…
Significant items after tax Reconciliation of full-year net (loss)/profit to underlying profit Full-year Full-year million Change 2014 2013 Net (loss)/profit after tax (935) 516 (281)% Add/(deduct) significant items Net…
2015 full-year sensitivities Sensitivity Change NPAT impact (Amillion) US oil price +/-US1/bbl +/-20 A gas price +/-10 cents/GJ +/-10 A/US exchange rate +/-1 cent -/+10 31 2014 FULL-YEAR RESULTS
2015 Exploration schedule Delivers on our exploration strategy across super basins, frontier basins and unconventional basins Santos Well Name Basin / Area Target Timing Interest % Hides-F1 (Hides Deep) Papuan PNG Gas 24 Drilling…
2014 Full-year results Contact information Head Office Adelaide Andrew Nairn Ground Floor, Santos Centre Group Executive Investor Relations 60 Flinders Street Direct: + 61 8 8116 5314 Adelaide, South Australia 5000 Email:…
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