Dana Gas PJSC · ADX:DANA
Dana Gas PJSC — Q1 2014 Earnings Presentation
19 slides from Dana Gas PJSC's earnings presentation, May 15, 2014
Slide 1: Clean Energy For the MENA Region's Tomorrow
Clean Energy For the MENA Region’s Tomorrow Dana Gas Capital Markets Presentation 1Q 2014 Financial Results 15 May 2014 www.danagas.com 1
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains forward-looking Forward-looking statements are based on certain statements which may be identified by their use of assumptions and expectations of future events. The words like “plans,” “expects,” “will,” “anticipates,” Company, its subsidiaries a
Slide 3: Presentation Outline
Presentation Outline 1Q 2014 Performance Highlights Quarter-on-Quarter Financial Performance Country Operations Egypt Kurdistan Region of Iraq UAE: Zora Project Update Summary www.danagas.com 3
Slide 4: Significant Achievements Despite Ongoing Challenges
Significant Achievements Despite Ongoing Challenges 67% growth in operating quarterly profit at $ 45 million (AED 164 million) mainly due to higher production, increased sale of higher margin LPG in KRI and lower operating costs 18% growth in quarterly revenue having achieved 1Q 2014 revenue of
Slide 5: Financial Performance
Financial Performance Azfar Aboobakar – Head Financial Control & Reporting www.danagas.com 5
Slide 6: Financial Highlights: 1Q 2014 vs 1Q 2013
Financial Highlights: 1Q 2014 vs 1Q 2013 Revenue: Up 18% Y-o-Y Gross Profit: +16% YoY Significant growth in revenue due to higher production Sharp increase in gross profit of $ 87 million, achieved and increase in sale of LPG (1Q 2013 impacted by mainly due to higher production in Egypt and higher s
Slide 7: Profit After Tax Bridge – 1Q 2014 Vs 1Q 2013
Profit After Tax Bridge – 1Q 2014 Vs 1Q 2013 (all figures in $ million) Increase of 17% in production from Egypt contributed $17 million and higher sales of LPG in Kurdistan contributed $11 million to gross revenue Higher production and lower capital expenditure in Egypt resulted in a 26% increa
Slide 8: Production (BOEPD)
Production(BOEPD) Rounded to nearest hundred Q1 2014 Vs Q1 2013 2014 2013 Q1 2014 Vs Q4 2013 80,000 80,000 68,800 68,800 68,700 70,000 70,000 61,400 60,000 60,000 50,000 50,000 2% 39,500 39,500 40,200 40,000 40,000 33,700 29,300 27,700 29,300 28,500 30,000 30,000 20,000 20,000 10,000 10,000 0 0 Tota
Slide 9: Average Realized Prices
Average Realized Prices Q1 2014 Vs Q1 2013 2014 2013 Q1 2014 Vs Q4 2013 120 120 110 109 106 108 105 106 106 105 100 100 76 80 76 75 80 74 60 60 40 40 20 20 0 0 Condensate LPG (USD/boe) Crude Oil (USD/bbl) Condensate LPG (USD/boe) Crude Oil (USD/boe) (USD/boe) (USD/bbl) * Liquids benchmarked to Brent
Slide 10: Billing & Collection – as of March 2014
DANA GAS GROUP Billing & Collection – as of 31 March 2014 Dana Gas Egypt Pearl Petroleum (40%) Receivable - $278 million Receivable - $274 million Receivable - $583 million Receivable - $515 million 250 230 30% Billing Billing US$ Million 172 US$ Million 180 78% Collection 160 Collection 200 140 134
Slide 11: Dana Gas: Country Business Highlights
Dana Gas: Country Business Highlights www.danagas.com 11
Slide 12: Consistent Increase in Nile Delta Production
Consistent Increase in Nile Delta Production Plant shutdown for capacity Q4 increases enhancement and Q2/Q3 increases Salma start-up replacement of PSVs SAEN rich gas start-up and ramp production optimization up production optimization in in SAEN Q1 increases SAEN Faraskur dry gas start-up EW field
Slide 13: Egypt: Nile Delta Operations
Egypt: Nile Delta Operations Development Leases: Balsam (Awarded) El Wastani Begonia (Under Discussion) El Basant (Amended) Sama (Amended) Production: 39.1 kboepd ( Q1 2014 Avg) Projects: Balsam DL El Basant DL EW Capacity De-bottlenecking (200mmscf/d of raw rich gas) completed in March 2014 El Basa
Slide 14: Operations in Kurdistan Region of Iraq
Operations in Kurdistan Region of Iraq DG share of production (40%) averaged 29,300 BOEPD during 1Q 2014: 130 MMSCFD (40%) of natural gas 6,000 bbl/d (40%) and 148 tonnes/d (40%) of condensate and LPG, respectively Production of LPG continued to ramp up during 1Q with potential for further u
Slide 15: Dana Gas Kurdistan Assets – Substantial Resources Upside
Dana Gas Kurdistan Assets – Substantial Resources Upside* Pearl Petroleum appointed Gaffney, Cline & Associates Limited (GCA), to provide an estimate of hydrocarbons in-place as at 31st December, 2012 for both the Khor Mor and Chemchemal fields GCA have estimated the gas initially in-place volum
Slide 16: UAE: Zora Project Update
UAE: Zora Project Update Project Management team on board Overall Project Actual progress is in line with plans for first gas in 1H 2015 with a capacity of 40 mmscfd (6,650 BOEPD) Platform fabrication contract awarded in November 2013 to ADYARD and the actual progress is 29.55 % against planne
Slide 17: Summary
Summary www.danagas.com 17
Slide 18: Summary
Summary Achieved excellent results due to an increase in overall production and sales, and tighter control of operational and capital expenditure Macro-economic challenges faced by Egypt remain an area of concern Seeking a solution to the problem of outstanding receivables in Egypt that benefi
Slide 19: Reach Us: Dana Gas PJSC
Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : [email protected] Direct : +971 6 519 4401 Fax : +971 6 556 6522 www.danagas.com