2015 talisman a transformation for repsol. financial strength high growth in upstream competitive...
TRANSCRIPT
2015
Talisman A Transformation for Repsol
Financial strength
High growth in Upstream
Competitive shareholder
compensation
Maximize Downstream profitability
A transformative transaction, ensuring high growth in Upstream
Strategic Rationale
Growth
Diversification
Value Creation
Talisman Acquisition
Growing from our strengths
(2012-2016)
Talisman Integration
Talisman brings a global and diversified portfolio …
Talisman Assets
Experienced asset operator
Large free cash flow
Sustainable production
Potential for exploration and development
Strong relationship to governments and NOCs
Asia-Pacific
Efficient operator
Unconventional assets
Gas and associated liquids growth potential
Upside in Colombia (heavy oil)
Alliance with Sinopec in the United Kingdom
Offshore operator in the North Sea
Non-operated assets in Algeria
Americas
Europe and North Africa
Talisman Integration
… that reinforces Repsol´s portfolio
Repsol Assets
Non-operated strategic investment
Largest integrated Gas & Power company in
Spain and Latin America
In more than 30 countries, over 23 million customers
Upstream
Gas Natural Fenosa (GNF)
DownstreamWorld class explorer
Deepwater exploration experience
Activities in 29 countries
Strong focus on Latin America
Alliance with Sinopec in Brazil
10 development projects delivering 12-16
Leadership in Europe in integrated Refining and Marketing margin
One million boe/d refining capacity: Leadership in Spain and Peru
4,700 Service Stations in Spain, Portugal, Italy and Peru
Excellent asset quality
Products Differentiation
Cash Flow generator
Talisman Integration
(1) Repsol: Data at the close of 2014. Talisman Energy: Annual Report of December 2014 adjusted for the gas conversion factor of 5,615 cubic feet of gas per equivalent barrel(2) 1P – Proven 2P Proven and Probable
Increase in production and reserves
The New Repsol
Series1
355
656X 1.9
1,539
2,384
X 1.5
2,270
3,537
1P 2P 1P 2P
Net production 2014 (1) Net reserves 2014 (1)
Repsol Repsol + Talisman Repsol Repsol + Talisman
(Thousand boe/day) (Million boe)
Talisman Integration
~ 700,000 boe/day production
~ 27,000 employees
~ 2.2 Billion boe proven reserves
The New Repsol
Among the largest private
oil & gas companies
Present in more than 40 countries
A great company resulting from a transformative operation
1 million boe/d refining capacity
30% of Gas Natural Fenosa
4.700 service stations
Talisman Integration