Nostrum Oil & Gas Plc · LSE:NOG
Nostrum Oil & Gas — Q1 2018 Earnings Presentation
16 slides from Nostrum Oil & Gas's earnings presentation, 2018
Slide 1: Q1 2018 Financial Results Presentation
Q1 2018 Financial Results Presentation
Slide 2: Q1 2018 Financial Results
Q1 2018 Financial Results Establishing a solid platform for growth 1 • US$57.2 million EBITDA1 generated from 30,874 boepd of sales volumes at a 60.3% margin 2 • Cash & cash equivalents2 of US$132.3 million and net debt of US$971.9 million as at 31 March 2018 3 • 9,000 boepd of 2018 production hedge
Slide 3: Sustainable strategy to grow production
Sustainable strategy to grow production 1 • Focus drilling on production wells in H1 2018 Delivering near term production growth • Bring on a low pressure system in 2018 to extend life of older producing wells 2 • Complete and bring on line GTU3 during 2018 Complete GTU3 and grow reserve base • Cont
Slide 4: Snapshot of key figures from Q1 2018
Snapshot of key figures from Q1 2018 Sales volumes Opex / boe1,2 50,000 6.0 5.8 37,844 40,000 32,633 30,874 5.0 4.4 US$ / boe 30,000 4.1 boepd 4.0 20,000 3.0 10,000 - 2.0 FY 2017 Q4 2017 Q1 2018 FY 2017 Q4 2017 Q1 2018 G&A costs / boe2 Gross debt / net debt 3.0 10.0x 2.5 Gross Debt / LTM EBITDA 2.2
Slide 5: Capital discipline
Capital discipline Balance sheet Hedging programme • US$132.3 million cash and cash equivalents1 as at 31 March 2018. • 9,000 boepd of 2018 production hedged at a floor price of US$60/bbl. • Net debt of US$971.9 million as at 31 March 2018. • US$60/bbl put option was funded through a call spread wit
Slide 6: 2018 Drilling and production plan
2018 Drilling and production plan • Drill four production wells in Chinarevskoye field in proven area of Biski North East reservoir ➢ Looking at solutions to recover first well that encountered water ➢ Second well to come on line in H1 ➢ Third and fourth wells to come on line in Q3 • Drill one well
Slide 7: 2018 Ryder Scott Reserves Report
2018 Ryder Scott Reserves Report Chinarevskoye - Proven Chinarevskoye - Probable Trident - Probable • 358mmboe 2P reserves at the Chinarevskoye field 488mmboe ➢ Proven – 124mmboe 466mmboe ➢ Probable – 234mmboe 87mmboe 131mmboe • 22.9mmboe decrease in proven reserves due to: ➢ 14mmboe of production d
Slide 8: Chinarevskoye 2P reserves by reservoir and Trident reserves
Chinarevskoye 2P reserves by reservoir and Trident reserves 2017 Production Reservoir 01-Jan-17 01-Jan-18 Change net of production (mmboe) Tournaisian Northeast 46.3 3.2 38.3 (4.8) Tournaisian West Tournaisian South 1.8 0.1 1.7 (0.0) Bashkirian NE+W 6.9 0.3 6.6 (0.0) Biski/Afoninski NE+NW 158.5 10.1
Slide 9: Q1 2018 Financial Results
Q1 2018 Financial Results 2 engstrum
Slide 10: Financial Overview – Q1 2018
Financial Overview – Q1 2018 US$m Q4 2017 Q1 2018 Revenue 101.8 94.8 EBITDA1 60.7 57.2 Profit before tax 16.5 2.5 Current income tax expense 19.5 (0.5) Deferred income tax expense (36.0) 1.6 Net income (0.0) 3.6 Earnings per share (USc) 2 (0.5) 2.0 Capital expenditure3 57.9 51.9 Net cash flows from
Slide 11: Balance Sheet Summary
Balance Sheet Summary Highlights Gross debt / net debt 10.0x • US$132.3 million cash & equivalents1 Gross Debt / LTM EBITDA 8.0x Net Debt / LTM EBITDA Leverage ratio • Successful refinancing of remaining bond debt with no maturities until 20222 6.0x 4.9x 4.7x 5.0x 4.4x 4.1x 4.4x 4.0x • 9,000 boepd h
Slide 12: Supporting materials
Supporting materials Boa} wi Fes pee Pi eat p engstrum
Slide 13: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position 13
Slide 14: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income 14
Slide 15: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows 15
Slide 16: Disclaimer
Disclaimer THIS PRESENTATION IS NOT AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES. IT IS SOLELY FOR USE AT AN INVESTOR PRESENTATION AND IS PROVIDED AS INFORMATION ONLY. THIS PRESENTATION DOES NOT CONTAIN ALL OF THE INFORMATION THAT IS MATERIAL TO AN INVESTOR. BY ATTENDING THE PRESEN