Horizon Oil Limited · ASX:HZN
Horizon Oil — H1 FY2015 Earnings Presentation
11 slides from Horizon Oil's earnings presentation, Feb 23, 2015
Slide 1: Half Year FY2015 Financial Results
For personal use only Half Year FY2015 Financial Results 23 February 2015 ABN 51 009 799 455
Slide 2: Five year calendar performance
Five year calendar performance For personal use only Completion of Maari Growth Projects expected to increase production in 2015. The outlook for 2015 in the current oil price environment remains Beibu Gulf cumulative milestone of 7 mmbbls production achieved, with positive due to the benefit of oil
Slide 3: Half Year Highlights
Half Year Highlights For personal use only 618,665 barrels produced, sales of 565,397 barrels at an average realised price (net of hedging) of US$94.0 per barrel, generating revenue of US$53.1 million, and with operating expenditure of Performance US$30.8 million. 45,621 barrels of inventory were he
Slide 4: Operational Results
Operational Results For personal use only LTIFR of 0.8 (Lost Time Injury Frequency Rate), TRIFR of 3.3 (Total reportable injury frequency rate) at 31 HSSE Dec 14 over a 12 month rolling 1.2 million manhours No significant loss of containment incidents (<1 barrel of oil equivalent) Continued strong p
Slide 5: Profit and Loss
Profit and Loss For personal use only 6 Months to 6 Months to Dec Change Change Dec 2014 2013 (US$ million) (US$ million) (US$ million) (%) Production 618,665 bbls 672,144 bbls (53,479 bbls) (8.0) Sales 565,397 bbls 642,606 bbls (77,209 bbls) (12.0) Realised Oil Price US$94.00/bbl US$100.79/bbl - -
Slide 6: Profit and Loss Analysis
Profit and Loss Analysis For personal use only *Note - EBITDAX and EBIT are financial measures which are not prescribed by Australian Accounting Standards and represent the profit under Australian Accounting Standards adjusted for interest expense, taxation expense, depreciation, amortisation, and e
Slide 7: Cash Flow
Cash Flow For personal use only 6 Months to 6 Months to Change Change Dec 2014 Dec 2013 (US$ million) (US$ million) (US$ (%) million) Opening Cash 98.9 19.0 79.9 420.5 Net Cash from Operating Activities 26.3 29.9 (3.2) (10.8) (excl G&A) General & Administrative (4.2) (3.1) (1.1) 35.5 Expenditure Deb
Slide 8: Cash Flow Analysis
For personal use only Cash Flow Analysis 8
Slide 9: Forecast net production at December 2014
Forecast net production at 31 December 2014 For personal use only Note: Wei 12-8E includes management’s estimates of recoverable resources from the recent discoveries following the drilling of 12-10-1 & 2 exploration wells 9
Slide 10: 2015 calendar year hedging position and risk management
2015 calendar year hedging position and risk management For personal use only 842,500 bbls hedged through 2015 to mid 2016 at average of US$95/barrel Oil price hedging program protects revenue by mitigating the effect of low oil prices Oil production from multiple fields (currently 1 in New Ze
Slide 11: Outlook for 2015
Outlook for 2015 For personal use only Corporate Outlook Operating cashflows expected to be substantially maintained notwithstanding lower oil prices, following completion of the Maari Growth Projects, continued China production and a strong hedge position, barring unforeseen events Forecast 50%