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Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp.

Pacific Rubiales Energy Corp. · May 10, 2012 · 33 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. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 1
    Financial and Operational Results 1Q 2012 TSX: PRE BVC: PREC BOVESPA: PREB11 www.pacificrubiales.com
  2. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 2
    1Q 2012 Results Operational and Financial Highlights 93,573 Average net production after royalties. ( 91,870 boe/d Colombia, 1,703 boe/d boe/d Peru(1) 15% growth year over year. 538 EBITDA increased by 48% year over year, 58%…
  3. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 3
    First Quarter 2012 BUSINESS ENVIRONMENT AND STRATEGIC POSITIONING
  4. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 4
    Commercial Activity: 2011 Oil Pricing Environment World Oil Prices US/bbl NYMEX WTI M1 ICE Brent M1 130,00 120,00 110,00 High oil prices continues, supported by global 100,00 geo political environment. 90,00 80,00 See trend…
  5. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 5
    O&G Industry Sector Environment boe/d Total Field & Net WI Production 236,958(1) Colombia Oil & Gas Production* 1200 Gross Field 215.000 1000 180 173 Net After Royalties 177 196,272 800 165.000 Gas 1,103 1,125 1,040 600…
  6. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 6
    First Quarter 2012 OPERATIONAL MILESTONES
  7. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 7
    Pacific Rubiales Oil Sales Advantage MMbbl Volume Balance Exports Sales by Market Sold Operational Inventory Inventory to be sold MDA: 1Q 2012 14,0 0,5 1,3 12,0 13% 1,9 17% 10,0 0,7 1,9 12% 8,0 1,9 6,0 21% 10,2 4,0 9,0…
  8. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 8
    Midstream Investment Strategic to Business Development Oil & Gas Transportation Infrastructure ODL Pipeline (PRE: 35% equity interest) Added 170,000 bbl/d incremental capacity, upgrading to total 340,000 bbl/d gross. Expansion to…
  9. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 9
    Small Scale LNG Unlocking Future Markets Liquefaction Accelerates monetization of companys gas reserves, leverages exploration of gas resources. 15 year toll agreement with Exmar. LNG barge on the Colombian Caribbean EXPORT TM…
  10. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 10
    STAR is Off The Starting Gate in the Quifa Block 2009-2011 2012 Commercial Stage Lab Tests and Field Lab (Pilot Test) Implementation Numerical Simulation Pilot test area: Nine wells have been drilled in two main clusters in 25…
  11. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 11
    Acquisitions & Joint Ventures Additional Engines of Growth Total world wide opportunities evaluated during 2011- 2012: 70 Acquisitions provide additional growth potential along with exploration and development hopper. Five…
  12. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 12
    Production Future: Profitable Repeatable Growth Total production expected to Net Production (Mboe/d) double through 2016 from 200 organic growth. Rubiales Quifa/Sabanero Gas Other Future Rubiales field declines from current 65 %…
  13. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 13
    First Quarter 2012 EXPLORATION CAMPAIGN
  14. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 14
    Exploration Portfolio Performance: 2008 - 2011 94 % growth in 2P reserves. Net 2P Reserves (MMboe) 4.0 reserve replacement ratio. 450 Exploration Aquisitions Reserves from exploration 407 80% of 2P reserves added by 400…
  15. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 15
    1Q 2012 Exploration Activity US90.3 million Exploration investment. 84% exploration success rate drilling 19 exploratory wells (including appraisal and stratigraphic), of which 16 wells were successful. Completed 2D and 3D…
  16. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 16
    1Q 2012 Exploration Success- Quifa North LEGEND Appraisal well 1Q OP-8 Stratigraphic well 1Q Previous wells AM-14H AM-13H AM-16 AM-17 AM-15ST2 QF-1XE 10 km Quifa North Exploration Area Seven exploration wells…
  17. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 17
    1Q 2012 Exploration Success- Sabanero LEGEND Appraisal well 1Q Stratigraphic well 1Q Previous wells SAB-3HZ3 SAB-3WDST Sabanero Exploration Area SAB-3HZ2ST Seven wells drilled (two stratigraphic, five SAB-4HZ2ST2 SAB-STRAT-6…
  18. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 18
    1Q 2012 Exploration Success- CPE-6 Block HAMACA-3 HAMACA-5 Two successful stratigraphic wells drilled on Hamaca Prospect. Lead 2 Twelve stratigraphic wells SM-10 program completed. CPE-6 Second half 2012 program:…
  19. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 19
    1Q 2012 Exploration Success- Cotorra Well LEGEND Exploratory 1Q COTORRA-1X Cotorra-1X exploration well success, 129 feet hydrocarbon column. Perforated lower interval tested 7.9 mmcf/d gas and 370 bbl/d condensate.…
  20. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 20
    1Q 2012 Exploration- Peru large prospects Schematic Geological Section SW Block 138 NE Cross Section Targeting large closed structures. 8 exploration leads identified, 801 million boe certified prospective resource (best…
  21. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 21
    Peru Block Z-1 Participation Interest Acquisition Acquisition of a 49% participating interest in 100% BPZ Z-1 exploration and development block, offshore Peru(1). Deal structure: US150 million cash up front, commitment funding of…
  22. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 22
    CGX Guyana Resource Capture in High Potential Atlantic Margin Play PRE acquired 58.7 million shares ( 18%) of CGX Energy Inc., E&P company with high potential exploration blocks offshore Guyana and Suriname. Four prospects…
  23. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 23
    Block PPL237 and Triceratops Structure- Large Resource Capture Acquisition of 10% net participating interest in PPL237 Block and in the Triceratops structure, onshore Papua New Guinea from InterOil.(1) Deal structure: US116 million…
  24. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 24
    PPL237 Triceratops Large Structure, Early Stage Resource Capture Triceratops-1 Known hydrocarbon accumulation evidenced by Bwata-1 and Triceratops-1 wells. Triceratops-2 well ( current operations) provides data to estimate gas…
  25. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 25
    Triceratops A Giant Structure Earlier Triceratops-1 and Bwata-1 wells drilled on flank. Triceratoops Field Potential Gas Column Height Triceratops-2 drilled up structure increases hydrocarbon column. Indicate potential for…
  26. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 26
    1Q 2012 FINANCIAL RESULTS HIGHLIGHTS
  27. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 27
    Healthy Growth In Netbacks Key Financial Indicators US/boe Oil Netback Gas Netback Combined Netback 100,00 100,00 100,00 80,00 80,00 80,00 40% 78.93 39% 73.76 60,00 60,00 60,00 56.42 56.03 19% 40,00 40,00 40,00 36.56…
  28. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 28
    Strong Financial Results Gross Revenue (USMM) Net Income (USMM) 300 1000 900 932 258 800 60% 200 700 600 500 584 100 400 300 0 200 -70 100 0 -100 Q1_11 Q1_12 Q1_11 Q1_12 EBITDA (USMM) CFO* (USMM) 600 600 500 48%…
  29. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 29
    Outstanding Results Key Financial Indicators US/share EBITDA/Share CFO*/Share Net Income/Share 2 1 2 1.97 1.84 0.88 36% 66% 1,35 1,19 0 -0,26 0 0 -1 Q1_11 Q1_12 Q1_11 Q1_12 Q1_11 Q1_12 * Cash Flow from…
  30. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 30
    Financial Results P&L Full Year 2011 Million of US 1.000 932 333 900 800 700 600 61 538 167 500 400 29 12 13 59 300 258 200 100 - Revenues Operating Costs G&A Expenses EBITDA DD&A Shared-based Foreign exchange…
  31. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 31
    Consolidated Statements Of Income Financial Results Million of US Three months ended March ITEMS 2012 2011 VAR% Oil and Gas Sales 931,850 583,549 60% Cost of Operation 500,021 338,837 48% Expenses 90,780 77,932 16% Earnings…
  32. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 32
    Strong Balance Sheet, Liquidity Ratios and production growth 2012 2011 2011 2011 2011 2011 1Q FY 4Q 3Q 2Q 1Q NET PRODUCTION (boe/d) 93,573 86,497 90,959 87,159 88,092 79,648 DEBT / EBITDA-ANNUALIZED 0.62 0.57 0.57 0.48 0.55 0.83…
  33. Q1 2012 EARNINGS CALL – Pacific Rubiales Energy Corp. – slide 33

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