Hindustan Oil Exploration Co., Ltd. · NSE:HINDOILEXP
Hindustan Oil Exploration — Investor Presentation (June 2022)
27 slides from Hindustan Oil Exploration's investor presentation, June 2022
Slide 1: Investor Presentation | June 2022
Hindustan Oil Exploration Company Limited INVESTOR PRESENTATION | JUNE 2022
Slide 2: HOEC – On the Cusp of Transformation
HOEC – On the Cusp of Transformation Right Resources Right Strategy Right Environment • Established player with • Short cycle projects with • Next level of revenue and proven track record immediate production uptick cashflow generation from B-80 project delivery • Experienced and focused • Cost effe
Slide 3: Proven Track Record
Proven Track Record Gross Production (boepd) 8,508 8,622 7,896 7,243 2,428 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 > 100% 27 Months 4.5 Years 5 yr Gross Production CAGR Assam – FDP to First Gas Timeline B-80 – FDP to First Gas Timeline 3
Slide 4: Board of Directors
Board of Directors Vivek Rae - Non-Executive Independent Director/ Chairman Mr Rae, a former secretary, Ministry of Petroleum & Natural Gas, Government of India, served in the Indian Administrative Services for 36 years. Subsequent to his retirement, Mr. Rae served as a whole-time member of the 7th
Slide 5: Tailored Asset Portfolio with Broad Geographical Presence
Tailored Asset Portfolio with Broad Geographical Presence Onshore Offshore Onshore Offshore Onshore Oil Well Oil Well Gas Gas Exploration • India Focused Asset Portfolio tailored to deliver our strategy of rapid development of discovered resources • Strong offshore presence with anchor assets on bot
Slide 6: Focused Strategy for Value Generation
Focused Strategy for Value Generation Uniquely placed with right organization and right asset portfolio to deliver superior value Focus on Light Asset Model Growth strategy Growing responsibly Discovered Resources • Focus on discovered oil and • Follow Light-Asset and • Build on Offshore Operating •
Slide 7: Business Overview
BUSINESS OVERVIEW 7
Slide 8: B-80: Production Commenced from Gas Well - D2
B-80: Production Commenced from Gas Well - D2 • First Gas from B-80 being packed into WO-16 to BPB (14”-56 km) pipeline of ONGC since 31 May 2022 • D2 Gas well opened and gas process systems commissioned successfully • Gas quality specification required by ONGC Achieved prior to transportation • C
Slide 9: B-80: Production Start-up Status
B-80: Production Start-up Status • Full Offshore Systems Installed and Integrated during Q4 FY22 • SPM installation Completed & Tested • SPM to FSO connection completed and established readiness to receive Oil • Top Sides Commissioning and RFSU Completed • Process Equipment calibration, commissi
Slide 10: B-80: Key Milestones
B-80: Key Milestones • FDP Approved Dec 2017 • Drilling & completion – 2 subsea development wells April 2020 KGB- Offshore Installation at B-80 Site • Offshore Installation(OI) for collecting, separating and processing March 2021 well fluids • Hot-Tap of existing ONGC WO-16 Pipeline; Subsea producti
Slide 11: Dirok: Production & Phase-II development
Dirok: Production & Phase-II development Field Layout 27.7 mmscfd 572 boepd > 15% Gas Production Condensate Production Assam Gas (Q4-FY22) (Q4-FY22) Production • In addition to OIL India, gas is supplied to four other buyers at premium price • Premium sales during Q4 FY 2021-22 constitute about 40%
Slide 12: PY-1: Enhancing Production and Offtake Arrangements
PY-1: Enhancing Production and Offtake Arrangements USD 3.67 55 mmscfd 56 km Realised Price per Processing Sub sea MMBTU Capacity pipeline Cauvery • Only offshore platform in Cauvery Basin with 8 slots and four wells drilled • Unique, gas-bearing and the only offshore fractured granitic basement res
Slide 13: Kharsang: Phase I Development Plan
Kharsang: Phase I Development Plan 476 boepd 18 Oil Production 30% Number of Direct + Indirect PI Wells to be drilled in near (Q4-FY22) future Field Overview • HOEC acquired entire share capital of M/s Geopetrol International Inc in 2018 which has 30% stake - Direct and Indirect in Kharsang Oil fiel
Slide 14: Cambay: Developments
Cambay: Developments 75 boepd 0.376 mmscfd Asjol, North Oil Production Total Gas Production Balol and Palej Cambay Cambay (Q4-FY22) (Q4-FY22) Marginal fields at Cambay Approved FDP to be executed over next two years: Gujarat • Asjol: 2 development wells & hook-up to EPS • North Balol: 2 development
Slide 15: Other Blocks
Other Blocks • Block awarded under DSF - 2016 HOEC PI JV Partners • Tested - Oil 402 bopd Kherem • Field Plan- 2 wells to be completed in 3 years from date of receiving PML • Forest Clearance (FC) in final stages. NoC for FRA obtained, PML to be 40% processed after FC • Block awarded under DSF - 201
Slide 16: Financial Overview
FINANCIAL OVERVIEW 16
Slide 17: Standalone Statement of Profit or Loss
Standalone Statement of Profit or Loss PARTICULARS (INR Cr) Q4-FY22 Q3-FY22 FY22 FY21 INCOME Revenue from operations 38.24 36.24 130.50 99.44 Other income 6.08 1.95 16.80 11.82 Total revenue 44.32 38.19 147.31 111.26 EXPENSES Expenses from producing oil and gas blocks 5.46 5.81 22.25 22.96 Royalty,
Slide 18: Standalone Statement of Assets & Liabilities
Standalone Statement of Assets & Liabilities PARTICULARS (INR Cr) FY22 FY21 FY20 PARTICULARS (INR Cr) FY22 FY21 FY20 EQUITY AND LIABILITIES ASSETS Non-Current Asset 968.37 704.41 584.44 Equity 765.97 730.18 665.08 (a) Property, Plant and Equipment (a) Equity share capital 132.26 132.26 132.26 (i) Oi
Slide 19: Consolidated Statement of Profit or Loss
Consolidated Statement of Profit or Loss PARTICULARS (INR Cr) Q4-FY22 Q3-FY22 FY22 FY21 INCOME Revenue from operations 42.21 43.94 155.73 113.86 Other income 1.42 2.70 11.46 11.32 Total revenue 43.63 46.64 167.19 125.18 EXPENSES Expenses from producing oil and gas blocks 7.17 7.28 28.23 29.54 Royalt
Slide 20: Consolidated Statement of Assets & Liabilities
Consolidated Statement of Assets & Liabilities PARTICULARS (INR Cr) FY22 FY21 FY20 PARTICULARS (INR Cr) FY22 FY21 FY20 EQUITY AND LIABILITIES ASSETS 753.12 733.17 679.71 Non-Current Asset 1360.34 958.41 769.13 Equity (a) Property, Plant and Equipment (a) Equity share capital 132.26 132.26 132.26 (i)
Slide 21: Capital Market Data
Capital Market Data 150% HOEC S&P BSE Oil & Gas Index Price Data (As on 31st March, 2022) 130% 110% CMP (INR) 219.9 90% 52 Week H/L (INR) 245.2/89.5 70% Avg. Net Turnover (INR Mn) 209.2 50% 30% Market Cap (INR Mn) 29,064.2 10% Equity Shares Outstanding (Mn) 132.2 -10% Apr21 May21 Jun21 Jul21 Aug21 S
Slide 22: Reference
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Slide 23: Production Sharing Model
Production Sharing Model Aggregate Aggregate Investment value of Net value of *Aggregate value to be taken from the year when production/investments Multiple Cash Income Investments first incurred Net Cash Income Investments Cost Petroleum Contractors exploration cost + Profit Petroleum + + Contract
Slide 24: Investment Multiple under PSC
Investment Multiple under PSC Block AAP-ON-94/1 PY-1* PY-3* North Balol Kharsang* CB-ON-7 Asjol* Gas 10% 10% 10% 10% - - - Royalty Oil/Cond 20% - 10% - 20% 20% 20% Cess Oil/Cond 20% 20% 20% 0% 20% 20% 20% Cost Recovery 80% 100% 100% 80% 100% 60% 100% Limit Investment Multiple (Govt. Share Percentage
Slide 25: Revenue Sharing Model
Revenue Sharing Model 90% 100% Bidding process based on the Revenue Sharing Model involves 2 parameters – % of Govt. share of revenue 90% 80% Lower Revenue Point (LRP) and Higher Revenue Point (HRP). The revenue share 70% for intermediate points will be calculated by linear interpolation. The bidder
Slide 26: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the d
Slide 27: Thank You
THANK YOU 27
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