Genesis Energy Limited · NZX:GNE
Genesis Energy — New Zealand Petroleum Conference 2018
16 slides from Genesis Energy's conference presentation, March 2018
Slide 1: New Zealand Petroleum Conference 2018 Investment Forum - Kupe
New Zealand Petroleum Conference 2018 Investment Forum - Kupe March 2018 Paul Ruediger – Finance & Commercial Manger, Generation & Wholesale GENESIS ENERGY LIMITED
Slide 2: Agenda
Agenda Kupe fundamentals Genesis portfolio fit 2
Slide 3: Development history
Development history — discovered in 1986, explored through to FID in 2006, with first gas produced 2009
Slide 4: The Kupe interest
The Kupe interest — current day Joint Venture arrangements 2018 NZOG 4% • Genesis has a 46% interest in the Kupe oil and gas JV having acquired the NZOG 15% with effect from 1 January 2017: • Other partners are Beach Energy 50% (operator) and NZ Beach Energy Oil and Gas 4% Genesis 46% 50% • Genesis
Slide 5: Kupe offshore production
Kupe offshore production — one of three offshore producing gas fields in Taranaki • The Kupe oil and gas field is located 3 km beneath the seabed, 30 km off the coast of South Taranaki • The wellhead platform sits over the field in 35m of water • Platform connected to the onshore production station
Slide 6: Kupe onshore production
Kupe onshore production — plant availability consistently above 97% target • Condensate and LPG separated out Sales gas Sales gas • Treatment to remove contaminants compression metering • Residual gas is compressed and exported through a 11.7 km sales Gas Gas gas pipeline to the national grid CO2 re
Slide 7: Kupe tank farm and export facilities
Kupe tank farm and export facilities — approx. 1.3 mbbl oil produced and exported each year • The tank farm and export pipeline is located 70 km from the Kupe Production Station alongside Port Taranaki • Light crude is trucked from the production station and stored at the tank farm until ready to be
Slide 8: Taranaki oil and gas fields
Taranaki oil and gas fields — geographical context
Slide 9: Genesis portfolio fit
Genesis portfolio fit — only integrated energy management company in New Zealand KEY INFORMATION Revenue: NZ$2.0 billion EBITDAF Guidance (FY18): NZ$350-360 million , Dividend Yield: 6.7% Share Price: NZ$2.40 Market Capitalisation: NZ$2.4 billion Average Daily Turnover: 750,000 shares Credit Rating:
Slide 10: Why Genesis?
@ Why Genesis? 4. Agile culture embracing . Delivering a cohesive 2. Ensuring security of 3. Creating value customer experience supply in a volatile through an integrated and leading change with 3 products on one renewable market fuel position technology platform
Slide 11: Business strategy
Business strategy — five key strategic initiatives underpin our transformation REIMAGINING ENERGY to put control in our customers’ hands Optimise Innovate Invest To improve short term return For medium term growth For long-term value creation Core Strategic Deliver operational Increase value share T
Slide 12: Financial strategy: FY21 target
Financial strategy: FY21 target — target to deliver $400 - $430 million by FY21 $15m -$20m $12m -$17m $13m -$17m $6m -$10m $2m -$3m $5m -$8m $400m - $9m -$14m $5m -$8m $430m $385m - $410m $333m FY17 EBITDAF Operational Residential Business Grow LPG Energy Kupe Core growth 4 Original Nova Energy Revi
Slide 13: Investor Strategy
Investor Strategy — continued growth in dividends with a 8.6% gross yield1 and outperformance of TSR relative to peers • FY17 16.6c of dividends declared up 1.2% representing a cash yield of 6.7%. Dividend policy to grow in real terms over time with 3.8% growth delivered in past three years against
Slide 14: Kupe contribution & outlook
Kupe contribution & outlook — a diverse portfolio delivering consistent earnings over time • HY18 EBITDAF $200 million, up 28%, FY18 guidance of $350 - $360 million • NPAT down 24% to $28 million, due to fair value movements, underlying earnings up 14% to $43 million Kupe HY18 financial performance
Slide 15: Genesis Energy
Genesis Energy — our purpose is to reimagine energy, to put control in our customers’ hands • Company strategy • Deliver operational excellence and value optimization K • Increase value share of residential category • Grow business 2 business & LPG categories K • Build energy services • Financial st
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