Woodside Petroleum : 17.02.2016 2015 full-year results briefing (slide pack)

Microsoft PowerPoint - DRIMS-#10418788-v13-2015_full-year_results_-_MASTER_-_FINAL

2015 full-year results briefing

Peter Coleman | Chief Executive Officer and Managing Director 17 February 2016

This presentation contains forward looking statements that are subject to risk factors associated with oil and gas businesses. It is believed that the expectations reflected in these statements are reasonable as at the date of this presentation but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates. Readers are cautioned not to place undue reliance on these forward looking statements. No representation is made or will be made that any forward looking statements will be achieved or will prove to be correct. We do not undertake to update or revise any forward looking statement, whether as a result of new information, future events or otherwise.

All references to dollars, cents or $ in this presentation are to US currency, unless otherwise stated. References to "Woodside" may be references to Woodside Petroleum Ltd. or its applicable subsidiaries.

A resilient business model

• Strong balance sheet

  
  

• Maintaining liquidity and flexibility

  
  

• Relentless focus on productivity and reliability

  
  

• Executing our strategy and delivering on what we control

Delivered operating and development commitments

• Achieved second highest production result, 92.2 MMboe

  
  

• Improved safety performance by ~60% since 2012

  
  

• Met project deliverables

  
  

  Achieved reserves and resources growth

• 2P Reserves replacement ratio 276%

  
  

• 2P reserves up 13%; 2C contingent resources up ~150%

  
  

• Gas discoveries at Pluto and in Myanmar

  
  

  Continued financial discipline

• Break-even cash cost of sales reduced to ~$11/boe

  
  

• Strong liquidity: $1.7 billion available, raised $4.1 billion

  
  

• Low capital commitments; negligible debt maturities in 2016 and 2017