Nostrum Oil & Gas Plc · LSE:NOG
Nostrum Oil & Gas — FY2014 Earnings Presentation
16 slides from Nostrum Oil & Gas's earnings presentation, March 2015
Slide 1: Slide 1
Slide 2: FY 2014 Results
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Slide 3: Full Year 2014 Results
FULL YEAR 2014 RESULTS Solid financial and operational results in challenging oil price environment 1 • Stable production volumes — 16.2 mboe / 44,400 boepd (2013: 16.8 mboe / 46,178 boepd) 2 • Maintenance of superior margins — US$495m EBITDA¹ on revenues of US$782m (63% margin) 3 • Resilient at low
Slide 4: Stable production combined with significant near term production growth
Stable production combined with significant near term production growth Production summary & guidance¹ (boepd) 100,000 70,000 • Completion of GTU III construction during 2016 46,178 44,400 45,000 45,000 36,940 13,158 7,442 7,752 5,000 5,100 2,400 2,300 2,900 2004A 2005A 2006A 2007A 2008A 2009A 2010A
Slide 5: Growth fully funded from existing cash on hand and cash flow from operations
Growth fully funded from existing cash on hand and cash flow from operations Chinarevskoye capex guidance (2015-2018) Commentary 500 Facilities Drilling Capex • Drilling capex scalable according to oil price environment 450 US$60.0m – US$200.0m drilling programme 400 2016 Drilling Capex: • Fully f
Slide 6: Key performance indicators
Key performance indicators Opex/boe1 Transport costs/boe4 6.0 5.7 9.0 8.5 US$/boe 5.0 8.0 US$/boe 5.0 7.5 7.5 7.2 7.0 6.5 4.0 6.0 5.5 3.0 5.0 FY 2013 FY 2014 FY 2013 FY 2014 EBITDA³ margin Tax/boe2 70% 15.0 14.0 65% 63% 13.0 12.6 62% 12.0 US$/boe 12.0 60% 11.0 55% 10.0 9.0 50% 8.0 FY 2013 FY 2014 FY
Slide 7: Capital discipline remains a core element of Nostrum's strategy
Capital discipline remains a core element of Nostrum’s strategy Balance sheet strength • US$400.4m cash and cash equivalents² on balance sheet at year end • US$400.0m 6.375% Notes maturing in 2019 with no maintenance covenants • US$560.0m 7.125% Notes maturing in 2019 with no maintenance covenants •
Slide 8: Operational performance underpinned by substantial core asset base
Operational performance underpinned by substantial core asset base Chinarevskoye Field 2P reserve progression since 2004 (mboe)1,2 Proved Probable Trident fields 582 571 535 529 530 539 522 506 98 98 397 395 353 311 284 317 401 389 388 281 260 199 181 170 195 199 192 169 135 137 133 140 143 144 28 C
Slide 9: FY 2014 Financial Results
FY 2014 Financial Results Rand ae O&Gas OY
Slide 10: Financial Overview
Financial Overview US$mm (unless otherwise stated) FY 2013 FY 2014 Change Revenue 895 782 (12.6%) Cost of Sales (286) (222) (22.5%) General & Administrative Expenses (55) (56) (2.0%) EBITDA1 551 495 (10.3%) Profit Before Tax 362 312 (13.9%) Net income 220 146 (33.3%) Earnings per share (US$c)2 118 7
Slide 11: Strong Balance Sheet and Enhanced Credit Metrics
Strong Balance Sheet and Enhanced Credit Metrics Highlights Credit Metrics 3.0 • +63% EBITDA¹ margin Debt / LTM EBITDA (x) 1.9x • +67% increase in cash & cash equivalents during 2014 to 2.0 1.7x US$400m (FY 2013 US$240m) 1.1x 1.0 0.8x • Successful early repayment of 2010 Notes 0.0 Q3 2014 FY 2014 Gr
Slide 12: Supporting materials
3 Supporting materials
Slide 13: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position 12
Slide 14: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income 13
Slide 15: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows 14
Slide 16: Disclaimer
Disclaimer This presentation is strictly confidential to the recipient, may not be distributed to the press or any other person, and may not be reproduced in any form in whole or in part for any purpose. Failure to comply with this restriction may constitute a violation of applicable securities laws