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December 2014 Investor Presentation – YPF S.A.

YPF S.A. · Dec 4, 2014 · 28 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. December 2014 Investor Presentation – YPF S.A. – slide 1
    Investor Presentation December, 2014 1
  2. December 2014 Investor Presentation – YPF S.A. – slide 2
    Agenda 1 Company Overview 2 Upstream and Downstream 3 Financial Results 4 Summary & 2014 Outlook 3
  3. December 2014 Investor Presentation – YPF S.A. – slide 3
    Corporate Governance Shareholder structure 1 Board composition Chairman of the Board, National Government Mr. Galuccio Ms. Charvay 48.99% Labor Union Shares Class A Mr. Kicillof Representative Mr. Soloaga 51.0% Company…
  4. December 2014 Investor Presentation – YPF S.A. – slide 4
    Leading Integrated Energy Co. in Argentina Exploration Production 7: 243 Kbbl/d of crude oil, 47 Kbbl/d of NGL and 41.9 Mm3/d of natural gas Revenues LTM 1 Proved Reserves 3 4 in 2013: 628 mm bbl of liquids and 455 mm boe of gas and…
  5. December 2014 Investor Presentation – YPF S.A. – slide 5
    Leading Argentine O&G Company Upstream Downstream Market Share Breakdown (%) Market Share Breakdown (%) Oil Production 1 Crude Processing 3 No. of Gas Stations 3 Others Others 17% Others 8% 4% 28% 45% 13% 4% 34% 5% 9% 55% 6%…
  6. December 2014 Investor Presentation – YPF S.A. – slide 6
    Integrated Across Value Chain Oil Purchases Domestic market Domestic business market 71% Domestic prices (gasoline, diesel) 88% 17% International prices (FO, bunker, jet fuel, petrochemicals, lubricants, LPG and others)…
  7. December 2014 Investor Presentation – YPF S.A. – slide 7
    Seasoned Management Team 5 Miguel Galuccio Chairman & CEO Before rejoining YPF, he was part of the management team of Schlumberger in London More than 20 years of international experience in the oil and gas industry, leading companies…
  8. December 2014 Investor Presentation – YPF S.A. – slide 8
    Agenda 1 Company Overview 2 Upstream and Downstream 3 Financial Results 4 Summary & 2014 Outlook 9
  9. December 2014 Investor Presentation – YPF S.A. – slide 9
    Upstream - Significant Potential with Leading Market Position Cuyana YPF has 90 concessions in the most productive Argentine basins Proved reserves: 71 mm boe (total reserves 1P: 1,083 mm boe1) and 52 exploration blocks % liquids:…
  10. December 2014 Investor Presentation – YPF S.A. – slide 10
    Recent Performance: Strong Emphasis in Production Increase Doubled investments Significant increase in activity Upstream Capex (ARS millions) Drilling Rigs Workover Rigs +79.6% 28,395 200% 110% +102.2% 75 103 24,492 65 92 70…
  11. December 2014 Investor Presentation – YPF S.A. – slide 11
    Recent Performance: Reserves Growth Boosted proved reserves by 10.6%. Solid results coming from secondary recovery projects, tight gas and shale formations. Total Hydrocarbon (Mboe) Liquids (Mbbl) Natural Gas (Mboe) RRR 158% RRR…
  12. December 2014 Investor Presentation – YPF S.A. – slide 12
    Upstream - Conventional Opportunities Balanced conventional Project portfolio; supporting 80% of the next 3 years production. Crude oil production (kbbl/d) Natural gas production (Mm3/d) +13.5% (vs. Q2 2013) +4.1% (vs. Q2 2013) 39.7…
  13. December 2014 Investor Presentation – YPF S.A. – slide 13
    Upside from Unique Unconventional Opportunities Tested & Producing Other Opportunities 4,4 Vaca Muerta (shale oil / gas) Noroeste - Cretaceous Yacoraite NOROESTE Agrio (shale oil) (shale / tight oil & gas) CHACO PARANAENSE…
  14. December 2014 Investor Presentation – YPF S.A. – slide 14
    Vaca Muerta Unconventional Formation Description Encouraging results Shale oil & gas 50.000 Vaca Muerta 2011: 15 wells 45.000 2012: 10 wells Gross 2013: 93 wells 40.000 Type well curve Area 30,000 km2 35.000 Avrg well West Sweet…
  15. December 2014 Investor Presentation – YPF S.A. – slide 15
    Shale Operations Update After only 2 years, Loma Campana has become the 2nd largest oil producing field in Argentina. Vertical shale oil wells drilled in Loma Campanas sweet spot are producing at or above forecasted type well curve,…
  16. December 2014 Investor Presentation – YPF S.A. – slide 16
    JV Partners: Chevron, Dow, Petrolera Pampa and Petronas Loma Campana (395 km2 - 97,607 acres) La Amarga Chica (187 km2 - 46,189 acres) Objective: Vaca Muerta Shale Oil with Chevron Objective: Vaca Muerta Shale Oil with Petronas…
  17. December 2014 Investor Presentation – YPF S.A. – slide 17
    Tight Gas Operations Update Loma La Lata (121 km2 29,900 acres)1 Rincn del Mangrullo (183 km2 - 45,200 acres) Objective: Lajas formation Objective: Mulichinco formation Invested over USD 540 million Invested over USD 173 million 69…
  18. December 2014 Investor Presentation – YPF S.A. – slide 18
    Offshore Exploration Exploratory Potential; total size of offshore acreage similar to onshore acreage Km2 Total Total Offshore; Onshore; 1,227,570 1,525,719 Continental Shelf Water depth: 1,000 4,000 m. Angola, Nigeria No…
  19. December 2014 Investor Presentation – YPF S.A. – slide 19
    Downstream - Solid Market Leadership Market Share Breakdown (%) Lujn Proved de Cuyo reserves: refinery 85 M boe A % liquids: 98 D Crude Processing 2 No. of Gas Stations 2 Capacity: % gas: 2 105.5 kbbl/d Production: 8.8 M boe…
  20. December 2014 Investor Presentation – YPF S.A. – slide 20
    Downstream: Recent Performance Solid demand reflected in an increase in volumes sold; pricing discipline and slight market share growth. Crude Processed (kbbl/d) Gasoline sales (k m3) -3.5% +5.1% +10% 4,545 288 278 289 4,133 +5.2%…
  21. December 2014 Investor Presentation – YPF S.A. – slide 21
    Downstream Plan 1 Refined products expected Capex 2 Refining complex expansion and upgrading increase - 2013 - 2017 , 1.800 US mm Contribution by project Annual CAGR , 1.600 x1.7 , 9.5% 1.400 Utilization Capacity Upgrading…
  22. December 2014 Investor Presentation – YPF S.A. – slide 22
    Agenda 1 Company Overview 2 Upstream and Downstream 3 Financial Results 4 Summary & 2014 Outlook 23
  23. December 2014 Investor Presentation – YPF S.A. – slide 23
    Results Revenues, Adj. EBITDA and Operating Income presented solid growth, mainly driven by higher production and healthy margin increase. Revenues (ARS millions) Adj. EBITDA 1 2 (ARS millions) & Adj. EBITDA Margin (%) +44% 31% 31%…
  24. December 2014 Investor Presentation – YPF S.A. – slide 24
    Cash Flow From Operations Successfully financed increased capex with cash flow from operations and local and international financing, while maintaining a cash cushion and a strong balance sheet. Consolidated statement of cash flows…
  25. December 2014 Investor Presentation – YPF S.A. – slide 25
    Consolidated Balance Sheet Balance sheet 09/30/14 12/31/13 VAR % (ARS million) (ARS million) 2014/2013 Cash & ST investments 15,873 10,713 48% Fixed assets 144,675 93,496 55% Other assets 44,464 31,386 42% Total assets 205,012…
  26. December 2014 Investor Presentation – YPF S.A. – slide 26
    Consolidated Income Statement Income 12 months 12 months VAR % VAR % 9M 2014 9M 2013 statement 2013 2012 2013/2012 (ARS million) (ARS million) 9M 2014 / (ARS million) (ARS million) 9M 2013 Revenues 90,113 67,174 34% 104,203…
  27. December 2014 Investor Presentation – YPF S.A. – slide 27
    Agenda 1 Company Overview 2 Upstream and Downstream 3 Financial Results 4 Summary & 2014 Outlook 28
  28. December 2014 Investor Presentation – YPF S.A. – slide 28
    Outlook 2014/15 Focus on profitable growth Production and revenue increase with cost control Actively manage macro situation changes Maintain margins in dollar terms Aggressive capex plan but maintaining sound capital structure…

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