Tullow Oil Plc · LSE:TLW
Tullow Oil — Credit Suisse Global Energy Conference 2015
11 slides from Tullow Oil's conference presentation, Jun 2, 2015
Slide 1: Africa's Leading Independent Oil Company
Credit Suisse Global Energy Conference 2015 Tullow Oil plc AFRICA’S LEADING INDEPENDENT OIL COMPANY Angus McCoss – Exploration Director Credit Suisse Global Energy Conference – 2nd June 2015
Slide 2: Business reset for current market conditions
Credit Suisse Global Energy Conference 2015 Business reset for current market conditions • Strong production and development business • Reduced exploration budget focusing on low cost plays and long term options • Reducing costs and dividend suspension provides increased flexibility • Funded through
Slide 3: 2015 Capex guidance
Credit Suisse Global Energy Conference 2015 2015 Capex guidance 2015 capex of $1.9bn • Ghana: Jubilee & TEN developments - $1,300m 2015 $200m $1,700m $1,900m • Other Africa: maintaining mature production and near field drilling activities - $200m • Uganda and Kenya: Pre-development activities suppor
Slide 4: Debt Capital Structure
Credit Suisse Global Energy Conference 2015 Debt Capital Structure Debt maturity profile Key metrics $m Commitment size Maturity $m 31 Dec 2014 24 Apr 2015 RBL 3,700 Oct 2019 Cash and cash equivalents 319 632 Corporate Facility 1,000 Apr 2017 Debt outstanding 6% Senior Notes 650 Nov 2020 RBL Facilit
Slide 5: West Africa: stable production and future growth
Credit Suisse Global Energy Conference 2015 West Africa: stable production and future growth 71,300 63,400 580 7 Countries 26 Licences 29 Years experience Sq km bopd mmboe acreage 2014 production Reserves & Resources 120 West Africa Production • Material business with potential to generate 100 mater
Slide 6: Ghana: at the heart of Tullow
Credit Suisse Global Energy Conference 2015 Ghana: at the heart of Tullow Strong 2015 Jubilee production and cost Tullow’s production in Ghana 80 performance 70 • Jubilee exceeded average production guidance in Q1 60 2015 at 103,000 bopd 50 boepd 40 • High FPSO operating efficiency 30 • Low operatin
Slide 7: Progressing East Africa regional development
Credit Suisse Global Energy Conference 2015 Progressing East Africa regional development 85,000 2.3 Bbo 1 to 5 Bbo 3 Countries 10 Licences 10+ Years experience Sq Km Gross recoverable Risked yet to find acreage resources resources (gross) East Africa upstream developments • Good progress on developm
Slide 8: Low-cost exploration options
Credit Suisse Global Energy Conference 2015 Low-cost exploration options Caribbean-Guyanas Norway Atlantic Margin Plays Atlantic Margin Plays 1. Licence activity 1. Licence activity - Prospecting & - Johan Sverdrup charge farming down fairway (APA 2014) 2. Frontier wildcatting 2. Frontier wildcattin
Slide 9: Exploration remains at the heart of the business
Credit Suisse Global Energy Conference 2015 Exploration remains at the heart of the business 18 320,000 sq km $200m Countries with 2015 exploration expl activities Expl acreage capex • Ambitious campaigns in Kenya, Norway and South America • Key 2015 wells: Cheptuket (Kenya), Zumba (Norway) and Spar
Slide 10: Outlook remains strong during period of low oil price
Credit Suisse Global Energy Conference 2015 Outlook remains strong during period of low oil price High margin production Stable Jubilee performance, with further upside delivers significant cash flow TEN production on track for first oil mid-2016 Assets economic even West Africa assets are economic
Slide 11: Tullow Oil plc
Credit Suisse Global Energy Conference 2015 Tullow Oil plc 9 Chiswick Park 566 Chiswick High Road London, W4 5XT United Kingdom Follow Tullow on: Tel: +44 (0)20 3249 9000 Fax: +44 (0)20 3249 8801 Email: ir@tullowoil.com Web: www.tullowoil.com
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