Annual Report & Accounts 2013

 

KEY PERFORMANCE INDICATORS

The Board assesses the Company’s performance through the measurement of specific KPIs. In order to reflect the true performance of the prior period, the schedule below also provides information on the basis that the merger of Melrose had occurred on 1 January 2012 (2012 Pro-forma) in addition to the reported financial metrics of the prior period.

2013

2012

2012

 

Actual

Pro-forma

Reported*

Operational Performance Indicators

 

 

 

Production -working interest (boepd)

25,171

28,440

27,061

Production -net entitlement (boepd)

13,870

16,033

14,899

Proved plus probable reserves -working interest (Mboe)

360,693

378,354

378,354

Lost time incidents

6

4

0

 

 

 

 

Financial Performance Indicators

 

 

 

Revenue ($ m)

196.7

254.0

59.4

EBITDAX ($ m)

144.5

183.3

29.8

Group net indebtedness ($ m)

246.2

212.8

212.8

Net indebtedness/EBITDAX

1.7

1.1

n/a

Interest cover

6.6x

10.5x

5.1x

Operating costs ($ per boe -net entitlement basis)

4.15

3.49

3.57

 

 

 

 

Investment Activity

 

 

 

Capital expenditure

160.8

88.8

53.1

Exploration

34%

48%

49%

Development

66%

52%

51%

* Represents production performance from 11 October - 31 December 2012.