Nostrum Oil & Gas Plc · LSE:NOG
Nostrum Oil & Gas — FY2024 Earnings Presentation
12 slides from Nostrum Oil & Gas's earnings presentation, Apr 23, 2025
Slide 1: Moving from value creation to realisation
Moving from value creation to realisation 2024 Full Year Results Presentation 23 April 2025
Slide 2: Disclaimer
Disclaimer This presentation has been prepared and issued by, and is the sole responsibility of, Nostrum Oil & Gas plc (the “Company”), being the current holding company of the Nostrum Oil & Gas group (the “Group”). For the purpose of this disclaimer notice, “presentation” shall include these slides
Slide 3: FY 2024 Highlights: Strategic and Operational
FY 2024 Highlights: Strategic and Operational Strategic • Stepnoy Leopard FID approved (April 2024): initial field development phase, with a gross capital budget of US$100m – US$130m. • Stepnoy Leopard CPR issued (July 2024): Nostrum’s 2P reserves increased over fivefold to 133 mmboe; US$220m after-
Slide 4: FY 2024 Highlights: Financial and HSE & ESG
FY 2024 Highlights: Financial and HSE & ESG Financial • 14.6% increase in revenues: US$137.1m (FY 2023: US$119.6m). • 16.2% increase in EBITDA: US$48.9m (FY 2023: US$42.1m). • US$86.7m non-current assets impairment reversal. • US$33.1m net operating cash inflows (FY 2023: US$2.2m net cash outflows)
Slide 5: Strategic and Operational Roadmap
Strategic and Operational Roadmap 2023 2024 2025 Asset / Activity Jul Sep Dec Jan Mar Apr May Jul Sep Jan Mar Apr Two-well Well Gas lift Well No.41 Chinarevskoye GTU-3 drilling No.301 system drilling field & facilities re-start programme put into expansion completed commenced production Positiv Inve
Slide 6: Processed, Titled Production and Sales Volumes (average kboepd)
Processed, Titled Production and Sales Volumes (average kboepd) FY 2023 FY 2024 • A 94% increase in total processed volumes (includes Ural O&G condensate tolling volumes). 10.2 19.8 Processed volumes, total • A 48% increase in total titled production volumes (final products owned by 10.1 14.9 Titled
Slide 7: Financial KPIs
Financial KPIs Measure FY 2024 FY 2023 Commentary Drivers of revenue increase: (a) US$14.3m from Ural O&G condensate tolling, which commenced in December 2023. (b) additional product volumes from Ural O&G processing, well No.301 and gas-lift expansion. Revenue (US$m) 137.1 119.6 these were partially
Slide 8: Cashflows and Cash Balances Analysis (US$m)
Cashflows and Cash Balances Analysis (US$m) Cash balances/cashflows FY 2024 Commentary Beginning Cash Balance1 161.7 Primarily driven by higher revenues and related cash proceeds, as well as effective cost control Operating profit before working capital changes2 37.9 despite inflation and indexation
Slide 9: Supporting materials
Supporting materials
Slide 10: Balance Sheet Overview (US$m)
Balance Sheet Overview (US$m) 31 Dec 2024 31 Dec 2023 Category Change Commentary (Audited) (Audited) Increase is mainly due to a US$86.7m impairment reversal, a US$26.8m transfer of Stepnoy Leopard fields PP&E 372.9 252.6 120.3 exploration & evaluation (E&E) assets to PP&E, and US$32m in PP&E additi
Slide 11: Income Statement Overview (US$m)
Income Statement Overview (US$m) 2024 2023 Category Change Commentary (Audited) (Audited) Revenue 137.1 119.6 17.5 Refer to “Revenue” line in slide 7 (Financial KPIs). Decrease is primarily due to a US$14.8m reduction in depreciation charge (processing facilities' depreciation method change from uni
Slide 12: Cash Flow Statement Overview (US$m)
Cash Flow Statement Overview (US$m) 2024 2023 Category Change Commentary (Audited) (Audited) Beginning Cash Balance1 161.7 233.6 (71.9) Primarily driven by higher revenues and related cash proceeds, as well as effective cost control Cash from operations 40.2 21.9 18.3 despite inflation and indexatio