Company report

PTTEP corporate report

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Report summary

PTTEP's response to the oil price crash has been to defend its strong financial position and look for countercyclical business development opportunities. Budgets and dividends have both been cut. The company's five year plan has seen exploration investment reduced to low levels and M&A is now central if PTTEP is to deliver growth. We believe that PTTEP will follow a dual acquisition strategy targeting i) deals that add to its established business in South East Asia and ii) growth opportunities that focus the international portfolio towards material positions in selected resource themes.

What's included

This report contains

  • Document

    PTTEP Corporate Report.xls

    XLS 3.61 MB

  • Document

    PTTEP corporate report

    PDF 1.22 MB

  • Document

    PTTEP corporate report

    ZIP 2.02 MB

Table of contents

  • Other PTTEP research
  • Executive summary
  • Strategy
  • Portfolio summary
  • Valuation
  • Investment
  • Production
  • Reserves and resources
  • Economic assumptions

Tables and charts

This report includes 44 images and tables including:

Images

  • PTTEP upstream portfolio summary: key facts
  • Top upstream assets by value
  • Relative share price performance
  • Benchmark: market premium/discount to WM NPV,10
  • Base case upstream NPV10
  • Current NPV10 vs. future NPV10
  • Upstream EV vs. Upstream NPV10
  • Upstream portfolio sensitivities vs. Upstream EV
  • Forecast development expenditure (nominal)
  • Forecast operating expenditure (nominal)
  • Reported and unit development costs
  • New project returns
  • Reported and WM forecast production
  • Liquid vs. Gas
  • Liquid production
  • Gas production
  • Total reserves: Wood Mackenzie commercial
  • Total reserves: reported vs. Wood Mackenzie
  • Total reserves: reported vs. Wood Mackenzie
  • Reserve life: reported vs. Wood Mackenzie
  • Base price assumptions (nominal terms)
  • Base, high and low Brent (nominal terms)
  • Strategy: Image 3
  • Benchmarking: production CAGR
  • Benchmarking: % gas production
  • Benchmarking: NPV,10 by resource theme
  • Investment by country
  • Domestic production by asset
  • Domestic capital investment by asset
  • International production by asset
  • International capital investment by asset
  • Thailand total energy demand
  • Thailand gas supply-demand
  • Cash flow breakevens
  • Benchmarking: upstream cash flow breakevens
  • Evolution of year-end net cash
  • Breakdown of upstream cash flow by country

Tables

  • SWOT analysis
  • Top assets by value
  • Base price assumptions (nominal terms)
  • High price assumptions
  • Low price assumptions
  • Value assumptions
  • Foreign exchange rate assumptions

Questions about this report?

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