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DG Year End Presentation
- 1. FY 2009 END-OF-YEAR RESULTS August 27, 2009 David Goodall Chief Executive Petroleum Steven Schulenberg President, Production Byron Grigsby President, Development Barry Bettes President, Exploration Slide 1 Slide
- 6. Strong Cash Flow – Delivering Value to Shareholders (a) Includes capital and exploration expenditures (excludes acquisitions). FY2005 to FY2009 have been calculated on the basis of IFRS. Prior periods have been calculated on the basis of UKGAAP. FY2007 to FY2009 cashflow reflects proportional consolidation of joint ventures. Net Operating Cash Flow (US$bn) Organic Growth (a) (US$bn) Return to Shareholders (US$bn) CAGR: XX% CAGR: XX% Dividends CAGR: XX%
- 7. Underlying EBIT by Customer Sector Group 24,282 18,214 BHP Billiton (Total) (390) (395) Group & Unallocated Items 1,057 1,460 Energy Coal 937 4,711 Metallurgical Coal 1,644 1,349 Manganese 4,631 6,229 Iron Ore 1,275 (854) Stainless Steel Materials 189 145 Diamonds & Specialty Products 7,989 1,292 Base Metals (including Uranium) 1,465 192 Aluminium 5,485 4,085 Petroleum 2008 2009 Year Ended June (US$m)
- 8. Underlying EBIT by Customer Sector Group XXX,XXX XX,XXX BHP Billiton (Total) (XXX) (XXX) Group & Unallocated Items X,XXX X,XXX Energy Coal XXX X,XXX Metallurgical Coal X,XXX X,XXX Manganese X,XXX X,XXX Iron Ore X,XXX (XXX) Stainless Steel Materials XXX XXX Diamonds & Specialty Products X,XXX X,XXX Base Metals (including Uranium) X,XXX XXX Aluminium X,XXX X,XXX Petroleum 2008 2009 Year Ended June (US$m)
- 13. DG Company – Volume Growth 2007-2009 * excludes oil sands mining Where we are today 355 BHBP 23 390 Hess 19 399 Marathon 17 . . . 536 Apache 15 562 Anadarko 14 . . . Production (Average KBOE/Day) Company IOC World Ranking (2008 Volumes) BP ExxonMobil 4,069 1 3859 2
- 14. DG Company – Volume Growth 2007-2009 * excludes oil sands mining Where we are today XXX Company 23 23 XXX Company 19 19 XXX Company 17 17 . . . XXX Company 15 15 XXX Company 14 14 . . . Production (Average KBOE/Day) Company IOC World Ranking (2008 Volumes) Company 2 Company 1 X,XXX 1 X,XXX 2
- 18. Lost-Time Injury Frequency DG Company We were the only company in this industry ranking that achieved zero LTIs.
- 24. Gulf Of Mexico Production 0 20 40 60 80 100 120 140 FY05 FY06 FY07 FY08 FY09 YTD FY10 kboe per day Jan 05 Jul 08 Oct 07 Mar 09
- 25. BHPB Operated Uptime Performance 94.2% Uptime Stybarrow 93% Trinidad 95% West Cam 96% Neptune 97% Pakistan 98% Ohanet 98% Minerva 99% UK 90%
- 37. Moderate Oil – Delivering Our Next Challenge
- 45. FY10-FY11 – Proposed Drilling Campaign Canadian Laurentian 1 well planned Gulf of Mexico 6 wells planned NWS Australia 4 wells planned Malaysia 4 wells planned Philippines 2 wells planned Vietnam 2 wells planned Gippsland 3 wells planned Falklands 2 wells planned
- 48. Wrap Up
- 49. FY2009 Scorecard Results XX.X% X.X% X.X% X.X% XX.X% XX.X% XX.X% XX.X% X.X% XX.X% XX.X% XX.X% XXX.X% capital & schedule million boe million boe US$ million US$ per boe US$ per boe million boe US$ million per million hours per million hours XXX% Total XX% Average result Individual Components XX% CSG Components XX% XXX% XXX% Development Projects Index X% XX.X XXX Resource Additions X% XXX.X XXX Reserves Additions X% XXX.X XXX Direct G&A Costs X% X.XX XX.XX Depreciation Rate X% X.XX X.XX Field Operating Cost Rate XX% XXX.X XXX.X Production Volume XX% X,XXX X,XXX EBIT (excluding price and FX effects) X% X.XX X.XX Zero Barrier Incident Frequency Rate XX% X.XX X.XX Total Recordable Incident Frequency Rate Score Weighting Result Target Item
Notes de l'éditeur
- Locate all annual report photos on R-drive had a few incidents in the first quarter; have reacted to them and are improving Zero Harm is a realistic, not just an aspirational goal These teams have obtained it: operating plant in Pakistan has realized 7 years without an LTI Luigs drillship has gone three years with zero LTIs and 12 months without a recordable Last month our production operation at West Cam marked 15 years without an LTI. This represents approximately 4,000 manhours and is approaching 6,000 days without such an incident. can’t achieve business goals if we don’t get HSE right. must be integrated will all that we do disciplines and behaviours that lead to zero harm contribute to 100 percent of our wells, producing 100 of their maximum rate for 100 percent of the time. Tragically, there have been __ fatalities in the Company this fiscal year. Safety Week remarks… Our moral obligation we have to HSE
- Accomplishments 19 months without LTI Path Forward The danger is complacency List specifics for learning Stay diligent What does it take? – Leadership What capabilities did it take? We must have confidence in our underlying capabilities World-class wells built in deep water
- Accomplishments Continuous Improvement in Safety Performance – TRIFR 1.30 Increasing Production Volumes – 137.2 mmboe Pakistan program, Phase II has brought 138 MMscfd on. Stybarrow achieved full year production, 17 mmboe produced Outstanding Marketing support, Bass Strait FY09 Operating Costs - $5.50, Go Project – driving towards best in class integrity operations & maintenance processes FY09 Facility Uptime – 93% (excluding GoM hurricanes) FY09 Major Projects – Neptune first oil July 08, NWS LNG Train 5 Sep 08, Shenzi first oil March 09 Central Engineering Functional Support – built world class team. Effective utilization of central engineering team throughout organization. Progressing worldwide standards and work processes. Strong Finance Support – cost analysis and depreciation support and development of standard cost structures for all Producing Units. Path Forward Pyrenees start up 1 st half of 2010, every month ahead of schedule is 2.0 mmboe to our total production 376 355 318 322 326 336 FY09 kboed FY08 kboed FY07 kboed FY06 kboed FY05 kboed FY04 kboed
- Accomplishments Continuous Improvement in Safety Performance – TRIFR 1.30 Increasing Production Volumes – 137.2 mmboe Pakistan program, Phase II has brought 138 MMscfd on. Stybarrow achieved full year production, 17 mmboe produced Outstanding Marketing support, Bass Strait FY09 Operating Costs - $5.50, Go Project – driving towards best in class integrity operations & maintenance processes FY09 Facility Uptime – 93% (excluding GoM hurricanes) FY09 Major Projects – Neptune first oil July 08, NWS LNG Train 5 Sep 08, Shenzi first oil March 09 Central Engineering Functional Support – built world class team. Effective utilization of central engineering team throughout organization. Progressing worldwide standards and work processes. Strong Finance Support – cost analysis and depreciation support and development of standard cost structures for all Producing Units. Path Forward Pyrenees start up 1 st half of 2010, every month ahead of schedule is 2.0 mmboe to our total production 376 355 318 322 326 336 FY09 kboed FY08 kboed FY07 kboed FY06 kboed FY05 kboed FY04 kboed
- 0.00 1.30 0 6 2009 0.24 2.13 1 9 2008 0.46 2.55 2 11 2007 2.54 5.61 19 42 2006 LTIFR TRIFR LTIs TRIs FY
- 0.00 1.30 0 6 2009 0.24 2.13 1 9 2008 0.46 2.55 2 11 2007 2.54 5.61 19 42 2006 LTIFR TRIFR LTIs TRIs FY
- Key Messages Targeting 10% year on year growth Start of year ahead of budget due to better then expected performance from Atlantis North -GoM has become a substantial part of our global business, currently producing over 130 kboed. The combined businesses Algeria, Australia, Pakistan, Trinidad & United Kingdom remain at extremely critical to our production profile Production in September will be impacted by brownfield work on North Rankin and maintenance work on LNG trains in the North West Shelf. Pyrenees start up is critical to achieve full year budget and to take overall production to 500 kboed
- Key Messages 2 years ago we stood on the podium, we were at 90% uptime Now we are achieving 94% uptime for operated assets The tail end of FY09 (last 4 months) achieved 96.7% uptime. In comparison, many of our non operated facility average +/-85% uptime Improved performance resulted from: Equipment strategies and maintenance Planning and scheduling Root cause analysis Optimizing shut down planning
- Accomplishments Continuous Improvement in Safety Performance – TRIFR 1.30 Increasing Production Volumes – 137.2 mmboe Pakistan program, Phase II has brought 138 MMscfd on. Stybarrow achieved full year production, 17 mmboe produced Outstanding Marketing support, Bass Strait FY09 Operating Costs - $5.50, Go Project – driving towards best in class integrity operations & maintenance processes FY09 Facility Uptime – 93% (excluding GoM hurricanes) FY09 Major Projects – Neptune first oil July 08, NWS LNG Train 5 Sep 08, Shenzi first oil March 09 Central Engineering Functional Support – built world class team. Effective utilization of central engineering team throughout organization. Progressing worldwide standards and work processes. Strong Finance Support – cost analysis and depreciation support and development of standard cost structures for all Producing Units. Path Forward Pyrenees start up 1 st half of 2010, every month ahead of schedule is 2.0 mmboe to our total production 376 355 318 322 326 336 FY09 kboed FY08 kboed FY07 kboed FY06 kboed FY05 kboed FY04 kboed
- Accomplishments Continuous Improvement in Safety Performance – TRIFR 1.30 Increasing Production Volumes – 137.2 mmboe Pakistan program, Phase II has brought 138 MMscfd on. Stybarrow achieved full year production, 17 mmboe produced Outstanding Marketing support, Bass Strait FY09 Operating Costs - $5.50, Go Project – driving towards best in class integrity operations & maintenance processes FY09 Facility Uptime – 93% (excluding GoM hurricanes) FY09 Major Projects – Neptune first oil July 08, NWS LNG Train 5 Sep 08, Shenzi first oil March 09 Central Engineering Functional Support – built world class team. Effective utilization of central engineering team throughout organization. Progressing worldwide standards and work processes. Strong Finance Support – cost analysis and depreciation support and development of standard cost structures for all Producing Units. Path Forward Pyrenees start up 1 st half of 2010, every month ahead of schedule is 2.0 mmboe to our total production 376 355 318 322 326 336 FY09 kboed FY08 kboed FY07 kboed FY06 kboed FY05 kboed FY04 kboed
- Best-in-class gas audit Shenzi early Everything broadly on time Speak beyond development Well bore scematic Water depths 2 nd deepest TLP Rigor Functional Excellence Define excellence Set expectations What does it take to deliver our business Neptune 99.9% uptime Shenzi startup March 23 rd ramped up to full rates; above design capacity Finance support – Carmel? Streamlining account structure? Mad Dog development integrated Run time chart – what do we do next? Production – ex-hurricane Note: Shenzi photo in background
- Best-in-class gas audit Shenzi early Everything broadly on time Speak beyond development Well bore scematic Water depths 2 nd deepest TLP Rigor Functional Excellence Define excellence Set expectations What does it take to deliver our business Neptune 99.9% uptime Shenzi startup March 23 rd ramped up to full rates; above design capacity Finance support – Carmel? Streamlining account structure? Mad Dog development integrated Run time chart – what do we do next? Production – ex-hurricane Note: Shenzi photo in background
- World class Shenzi drilling performance days per 1000’ Five world record completion jobs on Shenzi – pump rate or interval Drilling in Pakistan, Algeria, Pyrenees, Shenzi, Neptune, Liverpool Bay. Ramping up for Malaysia.
- World class Shenzi drilling performance days per 1000’ Five world record completion jobs on Shenzi – pump rate or interval Drilling in Pakistan, Algeria, Pyrenees, Shenzi, Neptune, Liverpool Bay. Ramping up for Malaysia.
- Accomplishments “ Resource capture” We’ve got the money, the time, now DO IT! Planning Refilling the opportunity bin 300 people Path Forward Exploration portfolio strongest in 10 years Need to put runs on the board Sense of urgency We’ve got to drill
- Accomplishments “ Resource capture” We’ve got the money, the time, now DO IT! Planning Refilling the opportunity bin 300 people Path Forward Exploration portfolio strongest in 10 years Need to put runs on the board Sense of urgency We’ve got to drill
- Speak to the scorecard Challenges are not going to go away Things are getting more difficult Reinforce what it take to achieve excellence Take about 3-year data Safety Production Uptime Percent on time/budget Regulators/License to operate Financial controls Measurements Not delivered by luck Congratulations on sustained effort and performance We are far along in the journey that we began 3 years ago