Nostrum Oil & Gas Plc · LSE:NOG
Nostrum Oil & Gas — H1 2017 Earnings Presentation
15 slides from Nostrum Oil & Gas's earnings presentation, 2017
Slide 1: Half Year 2017 Financial Results Presentation
Simple Sustainable Successful Half Year 2017 Financial Results Presentation
Slide 2: H1 2017 Financial Results
H1 2017 Financial Results Solid revenue and operating cash generation following a strong half year 1 • Revenue of US$210.0m (H1 2016: US$163.5m) and net operating cash1 flows of US$118.5m (H1 2016: US$78.9m) 2 • EBITDA2 of US$119.8m (H1 2016: US$100.9m) and EBITDA margin of 57.0% (H1 2016: 61.7%) 3
Slide 3: Snapshot of key figures from H1 2017
Snapshot of key figures from H1 2017 Sales volumes Transport costs / boe1,2 50,000 5.5 5.3 38,933 41,107 5.0 40,000 5.0 US$ / bbl 30,000 4.5 boepd 20,000 4.0 10,000 3.5 - 3.0 H1 2016 H1 2017 H1 2016 H1 2017 Net Operating Cash flows Gross debt / net debt 140.0 10.0x 118.5 Gross Debt / LTM EBITDA 120.
Slide 4: Capital discipline
Capital discipline Balance sheet Hedging programme • US$97.5m cash and cash equivalents¹ (as at 30 June 2017) • 15,000 boepd hedge entered into on 14 December 2015 • US$864.3m Net debt2 (as at 30 June 2017) • Strike price of US$49.16 Post half year • Settles quarterly for eight quarters (final settl
Slide 5: Resilience under low oil prices
Resilience under low oil prices – Fully funded to complete GTU III and maintain existing production in 2017 and 2018 under any oil price • New Issue bond: US$725m • Tender Existing bonds: US$607m • Post-completion GTU3 • Transaction costs: US$41m2 capex of US$48m • Cash available to invest in mainta
Slide 6: 2016 Ryder Scott Reserve Audit
2016 Ryder Scott Reserve Audit – The asset continues to perform in line with expectations Chinarevskoye - Proven Chinarevskoye - Probable Trident - Probable • 466mmboe 2P reserves as at 1 January 2017 Ø Proven – 147mmboe Ø Probable – 320mmboe 87mmboe 87mmboe • Contingent resources – 221mmboe • Remai
Slide 7: A clear path to over 100k boepd
A clear path to over 100k boepd – GTU III delivers material near term production growth Able to deliver Ryder Scott production profile Fully funded at any oil price with oil price of US$40 / bbl • Fully funded to complete the construction of GTU III during 2017 under any oil price scenario 100,000+
Slide 8: H1 2017 Financial Results
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Slide 9: Financial Overview – H1 2017
Financial Overview – H1 2017 US$m H1 2016 H1 2017 Revenue 163.5 210.0 1 EBITDA 100.9 119.8 Profit before tax (56.6) 34.4 Current income tax expense (15.5) (27.2) Deferred income tax expense 16.3 6.2 Net income (55.7) 14.0 2 Earnings per share (USc) (30.0) 8.0 3 Capital expenditure (99.4) (91.4) Net
Slide 10: Balance Sheet Summary
Balance Sheet Summary Highlights Gross debt / net debt 10.0x Gross Debt / LTM EBITDA • 57.0% EBITDA¹ margin for H1 2017 8.0x Net Debt / LTM EBITDA • US$97.5m cash & equivalents² Leverage ratio 6.0x 4.9x 4.7x 5.1x 4.4x 4.2x 4.2x • Pro-forma cash +US$174m following successful bond 4.0x refinancing in
Slide 11: Supporting materials
p enestrum Tok See De ee es Teme Supporting materials
Slide 12: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position 12
Slide 13: Consolidated Statement of Comprehensive Income
Consolidated Statement of Comprehensive Income 13
Slide 14: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows 14
Slide 15: 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