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Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp.

Pacific Rubiales Energy Corp. · Nov 7, 2013 · 32 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 1
    Operational & Financial Results 3Q 2013 Produc(on Growth and Cash Genera(on Focus
  2. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 2
    Forward Looking Statements Resources Readers should give aen,on to the es,mates of individual classes of resources and appreciate the diering probabili,es of recovery associated with each class. Es,mates of remaining recoverable…
  3. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 3
    Content 1 Opera5onal Milestones 2 Business Environment and Strategic Posi5oning 3 Explora5on Campaign 4 Financial Results Highlights 5
  4. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 4
    3Q OPERATIONAL MILESTONES 2013 6
  5. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 5
    3Q13 Highlights Produc5on Growth & Cash Genera5on Focus* 127,728 Boe/d Net produc=on: 31% increase year-over-year 1,110 Million Strong Revenue Genera=on: 28% increase year-over-year 612 Adjusted EBITDA: 27% increase…
  6. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 6
    Outstanding Track Record of Execu=ng and Delivering Consistent Strong CAGR on all Opera5ng Parameters 2007-2012 2007 2008 2009 2010 2011 2012 9M 2013* CAGR Avg Gross Field Prod 310 22 47 83 144 219 247 62% (Mboe/d):…
  7. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 7
    3Q BUSINESS ENVIRONMENT 2013 AND STRATEGIC POSITIONING 9
  8. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 8
    Produc5on Growth Prole Mboe/d Gas Produc5on L&M Oil Produc5on PAP Heavy Oil Produc5on 350 307 310 311 300 12 12 11 271 26 28 29 3 7 244 12 14 250 11 12 200 150 128 128 128 269 267 265 97 246 108 11…
  9. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 9
    Commercial Ac=vity Oil Prices Environment Market Prices US/bbl WTI NYMEX ICE BRENT 130 120 110 100 90 2013 marked by con5nued narrowing of 80 WTI-BRENT dieren5al (3.84/bbl in 3Q 70 2013) 01/13 02/13…
  10. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 10
    Oil & Gas Sales Trading Advantages 3Q 2013 Export Sales by Market 9% Colombian oil produc5on will con5nue to 8% USA (GOM) have strong demand in global markets 10.4 45% Europe MMbbl Latam/Caribbean 3Q13 Sales of 11.4 MMboe…
  11. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 11
    Strong Financial Performance Cash is King US Million Revenues Adjusted EBITDA Cash Costs Non Cash Cost 1,400 1,259 1,200 1,110 1,047 1,056 1,000 870 787 800 741 695 658 604 586 612 68% 600 512…
  12. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 12
    Robust Oil Opera=ng Netbacks 64% Price Realiza5on Margin Achieved in 3Q 2013 US/bbl Total Opera5ng Cost PAP Provision Netback 120 102.06 103.00 101.61 99.83 100 95.84 36.91 38.55 37.27 80 32.53 43.01 0.17…
  13. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 13
    STAR as a Game Changer Pilot Project Success, Moving to Commercial Phase Independent cer5ca5on of STAR pilot project progress demonstrates at least a doubling of Recovery Factor New 2P reserves can be booked, represen5ng a…
  14. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 14
    CPE-6 Permit Awarded, Explora=on & Development Proceeding Repeatable and Scalable Heavy Oil Model Lies along the heavy oil trend some 70 km southwest of Rubiales/Quifa An incised-valley stra5graphic model control the reservoir…
  15. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 15
    Adding Value from Infrastructure Assets OCENSA and BICENTENARIO interests acquired from PMG provide addi5onal value upliq including long term transporta5on rights Midstream Spin-Out Project (1.2-1.4 Billion total value)…
  16. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 16
    Pro-forma Expecta=on Pacic Rubiales + Petrominerales* Metrics of PRE PMG PRE+PMG Acquisi=on Colombia 58 18 76 Blocks Peru 5 4 9 Produc=on Boe/d Net Total 128 23 151 47K/bbl/d (September 2013) 2012 Year-end Net 1P…
  17. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 17
    Petrominerales Lands and Opera=ons Dovetail with Exis5ng PRE Assets PMG produc5on and explora5on blocks provide an excellent bolt-on acquisi5on, complimentary to PREs blocks Provides hedge on future cost and security of…
  18. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 18
    Cost Reduc=on Ini=a=ves Energy: Power Transmission Line Project PEL Will reduce opera5ng costs of the Rubiales and Quifa elds by lowering electricity costs for oil produc5on and transporta5on Savings of 150 MM a year…
  19. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 19
    Puerto Bahia Terminal Provides a New Doorway to Oil Markets for Colombia Provides new alterna5ve export facility outlet for rising Colombia oil produc5on PRE 41.4% equity interest along with IFC strategic partner (26.1%)…
  20. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 20
    LNG Export Project in Colombia Worlds First Opera5onal Floa5ng LNG Facility First of its kind small scale oa5ng LNG facility in the world, being built by Wison Group in China for Exmar PRE to supply 70 MMcf/d (0.5 million tons…
  21. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 21
    3Q EXPLORATION 2013 23
  22. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 22
    3Q 2013 Explora5on Ac5vity - Wells 2013 Block Wells 3Q 2013 Explora=on Well Results 1Q 2Q 3Q 4Q Quifa 6 1 5 Prospect-Well Net Pay CPE-6 6 6 Block Welll Type Result Name (p)* CPO-1 1 1 CPO-12 1 1 Quifa QFE-S-1X…
  23. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 23
    Llanos Basin Quifa Block South Quifa Prospect Map Explora5on well QFE-S-1X was drilled in the northeastern part of the block 8.5 q. of net pay was found resul5ng in a new discovery Acquisi5on of the 721 Km2 of 3D…
  24. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 24
    Llanos Basin Cubiro Block Copa Prospect Map Copa C-1 explora5on well was drilled resul5ng in a new accumula5on along the Copa trend with 40API in the C-5 unit Found 17 q. of net pay in the C-5 unit, and 4 q. in the C-3…
  25. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 25
    Lower Magdalena Basin La Creciente Block La Creciente I Prospect Map Explora5on well LCI-1X reached a total depth of 12,711 q. MD Flowed gas at a rate of 13.1 MMcf/d New commercial gas discovery conrmed in the…
  26. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 26
    Kangaroo 2014 Ini=a=ves Kangaroo explora5on discovery result of Companys 35% farm-in on Karoon Gas Ltd ve blocks in oshore Santos basin, Brazil Kangaroo-1 well intersected es5mated 76 meter gross oil pay column, down-dip…
  27. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 27
    3Q FINANCIAL RESULTS HIGHLIGHTS 2013 29
  28. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 28
    Financial Results P&L 3Q 2013 (Million of US) Cash Costs Non-Cash Costs 1,110 422 76 612 34 83 495 384 455 8 39 82 2 80 Revenues Opera5ng G&A Adjusted Finance Income tax Cash Flow DD&A Foreign Other…
  29. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 29
    Revenues Three Months Ended September 30th (in thousands of US) 2013 2012 Net Crude Oil and Gas Sales 1,069,245 870,369 Trading Revenue 40,728 - Total Revenue 1,109,973 870,369 per boe oil and gas 97.29 95.13 per bbl…
  30. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 30
    Opera5ng Cost 2013 Q3 2013 Q2 2012 3Q Natural Natural Natural Oil Combined Oil Combined Oil Combined Gas Gas Gas Volumes Sold (boe/d) 109,228 10,237 119,465 112,701 10,887 123,588 89,045 10,775 99,820 Crude Oil and…
  31. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 31
    Strong Balance Sheet, Liquidity Ra5os and Produc5on Growth Financial Results (Million of US, except amount per share) 2013 2012 3Q 2Q 1Q FY 4Q 3Q 2Q 1Q DEBT / ADJUSTED EBITDA-ANNUALIZED 0.91 0.90 0.90 0.77 0.77 0.68 0.51…
  32. Q3 2013 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 32

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