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Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp.

Pacific Rubiales Energy Corp. · Aug 14, 2014 · 22 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. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 1
    2Q 2014 Financial & Operational Results
  2. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 2
    Opera&onal Milestones SECOND QUARTER 2014 4
  3. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 3
    2Q 2014 Highlights* 149,118 Boe/d Net Production: 17% higher vs. 2Q 2013 1,345 Revenue: 27% and 5% higher vs. 2Q 2013 and 1Q 2014 Million respectively 722 Adjusted EBITDA: 20% and 2% higher vs. 2Q 2013 and Million 1Q 2014…
  4. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 4
    Commercial Activity Oil & Gas Sales Trading Advantages Market Prices Realization Price /bbl WTI NYMEX ICE BRENT WTI NYMEX (/bbl) BRENT ICE (/bbl) 130 Combined Realized Price (/boe) (Excluding Trading) 120 150 110 107.87 109.76…
  5. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 5
    Operational Efficiency Robust Oil Netbacks /bbl Total Operating Cost Netback Realization Price 120 103 99.05 98.44 99.76 100 95.84 95.54 Strong and continued high oil netback 37.27 31.46 80 32.53 33.23 35.45 34.22 4% increase…
  6. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 6
    Production Growth Profile Net Production Growth Continues Gas Production L&M Oil Production PAP Heavy Oil Production Rubiales Mboe/d 350 316 325 320* 310 311 12 12 11 300 12 11 28 29 39 61 59 3 7 6 250 5 200 149 149…
  7. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 7
    PRE Light-Medium Oil & Gas Colombia Net Production (Mbbl) 2014 (E) 2015* PSE 34,000-36,000 38,000-40,000 Petrominerales 27,000-29,000 31,000-33,000 TOTAL 61,000-65,000 69,000-73,000 Peru Net Production (Mbbl) Block 2014 (E)…
  8. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 8
    New Heavy Oil Field Developments Rubiales Vs. CPE-6 Vertical Wells Behaviour Rubiales Wells CPE-6H-2 CPE6-1X CPE-6 Facilities construction behind schedule due to challenging environmental conditions (flooding) Qo (bbl/d) 500…
  9. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 9
    Pacific Rubiales Mexico - The Immediate Future PRE footprint in Mexico PRE Mexico Incorporated PRE Mexico President appointed Secured office space August 11, approved energy reform bylaws August 13th, Round Zero results (ahead…
  10. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 10
    STAR Technology (EOR*) Key to Increase Recovery Factors The STAR pilot test was concluded after reaching the agreed time period, yielding more than enough data and information to allow us to conclude that the technology not only…
  11. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 11
    Caribbean Floating LNG Worlds First Floating LNG Facility Floating Liquefaction Barge (FLNG) Under construction in China Capacity: 70 MMcfpd Double configuration for exports: Small scale LNG and FOB standard cargoes Owned by Exmar…
  12. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 12
    Pacific Midstream / Infrastructure Monetization of Infrastructure Assets Pacific Midstream Assets: PEL (100%), ODL (35%), BIC (41.5%), La Creciente gas pipeline (100%) IFC non-binding appraisal letter agreement for 40% of Pacific…
  13. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 13
    Cost Reduction Initiatives Heavy Oil Crude Own Light Crude Natural Gasoline Diluet Cost Per Sold Barrel (/Boe) Diluent Cost Diluent Cost Reduction Distribution /bbl 100% 12% 6% 4% 2% 3% 3% 10 Reducing expensive imported diluent…
  14. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 14
    Explora&on Highlights SECOND QUARTER 2014 16
  15. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 15
    2Q 2014 Exploration Activity Highlights 9 wells drilled in Colombia (2 exploration, 6 appraisal and 1 stratigraphic) Discovery at Cubiro block: Copa-14 well producing 457 bbl/d of 40 API Canaguaro block: Canaguay-2 ST2 flowed at…
  16. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 16
    2Q 2014 Exploration Activity - Wells 2014 2Q 2014 Exploration Well Results Block Wells 1Q 2Q 3Q 4Q Prospect-Well Net Pay Block Welll Type Result Arrendajo 2 2 Name (ft)* CPE-6 7 6 1 CPE-6 Hamaca-7 Appraisal Testing 41.0 CPO-17 3 1…
  17. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 17
    Financial Results SECOND QUARTER 2014 19
  18. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 18
    2Q 2014 Financial Highlights Financial Results Operating Netbacks Million Earnings from /boe Revenues Adjusted EBITDA FFO Operations Oil Netback Gas Netback Combined Netback 1,600 70 65.54 63.31 62.76 60.54 1,400 1,345 60…
  19. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 19
    2Q 2014 Financial Results Breakdown Million 1,345 533 90 722 65 39 383 532 14 20 229 Oil & Gas Sales Operating Cost G&A Expense EBITDA Finance cost Income tax DD&A ** Foreign Other Expenses Net Earnings for Funds…
  20. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 20
    Strong Balance Sheet, Liquidity Ratios and Production Growth Millions (except amount per share) 2014 2013 2Q 1Q FY 4Q 3Q 2Q 1Q DEBT / ADJUSTED EBITDA-ANNUALIZED 1.60 1.61 1.73 1.73 0.91 0.90 0.90 ADJUSTED EBITDA / FINANCE…
  21. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 21
    Pacific Rubiales Strategic Intent Focus on prospective Latin American basins Leading (growth & value creation) Latin America focused Independent E&P Sustainable growth in production, reserves and cash generation (Proven Track…
  22. Q2 2014 FINANCIAL & OPERATIONAL RESULTS – Pacific Rubiales Energy Corp. – slide 22

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