Repsols Recent Inorganic Acquisitions in Russia and in the U.S. JV with Alliance Oil Eurotek acquisition Acquisition of a stake in Mississippian Lime Analysts Presentation 20 January 2012
Selective inorganic growth with upside potential Acquisitions of assets with upside Projects : Camisea TSP Shenzi/Gk Alaska Russia SandRidge IRR (full cycle) 14% at 100 2012 / bbl Brent 2005 2006 2011 Repsol s excellent…
Joint Venture Alliance Repsol AROG Acquisition of Eurotek Russia Analysts' Presentation 20 January 2012
Repsol and AOC a 6-year alliance Acquisition of 10% of WSR WSR and AOC merger Joint Venture with AOC Pursuing a geographical WSR tripled its value between 2004 Repsol has continued to participate diversification strategy, in 2005…
Our strategy in Russia TIMAN PECHORA SK YK WEST SIBERIA VOLGA URALES Kumolsky- TNO Karabashsky- SNO Salymsky- 200 0 600 1200 km. Our strategy in Russia focuses on: Organic growth in West Siberia and Timan Pechora…
Description of the JV, including Eurotek AR OIL & GAZ BV Shareholder structure License status 16 exploration and production licenses AOC REPSOL EXP 51% 49% Holland AR Oil & Gaz Russia JV Operating & Management Co 100%…
Eurotek acquisition Description License status Situated in the Khanty-Mansiysk and Yamal-Nenets regions Repsol is interested in 2 exploration licenses. (West Siberia Basin) 9 exploration and production licenses The gas licenses…
Eurotek acquisition: Why gas from Russia Russia is a giant producer and consumer Domestic price vs. Netback parity Russia has the largest gas reserves in the world, with Doubts about Russian the proven reserves of 1 580 TCF (23.9%…
Valuation of assets contributed to the JV Multiples and discounted cash flows JV- Market multiples valuation* Eurotek- Market multiples valuation *(excluding Gusikhinskoye and exploration) Avg.: 4.5/boe Avg.: 2.4/boe (1)…
JV organizational chart and governance Joint management Holland Annual General Meeting ALREP OIL BV JV Company Proportional representation of JV Qualified issues: unanimous Russia Board resolutions Quorum: both shareholders JV…
Sandridge / Repsol Joint Venture Acquisition of stake in the Mississippi Lime Field. Oklahoma / Kansas Analysts' Presentation 20 January 2012
Joint Venture with SandRidge, Mississippi Lime Field Executive Summary (1/2) Through a Joint Venture agreement, Repsol acquired Mississippian High Perm, Carbonate Oil Play from the oil company SandRidge a vast oil field with Anadarko…
Joint Venture with SandRidge, Mississippi Lime Field Executive Summary (2/2) Nature of the producing warehouse Throughout the life of the project, Repsol would incorporate a working interest production of 382 MBOE (179 MBO and 1,139…
Joint Venture con Sandridge, Mississippi Lime Field. SandRidge Overview Operations Overview Financial and Operational Summary Permian Mid-Continent Mississippi Company Information 228,000 net acres 7,900 locations 2 million net…
Joint Venture with SandRidge, Mississippi Lime Field Activity in the Original Area SandRidge SandRidge SHELL Range Pablo / Chesapeake 300 to 500 Mboe EUR Energy Resources Territory 22 days drilling (4,500 lateral) 3.0 million per…
Mississippi Lime: An emerging Resource Play Characteristics that make Mississippi Lime an attractive play: Conventional Good porosity and permeability Known storage rock: + 30 years of historical production in 15,000 wells Size:…
Joint Venture with Sandridge, Mississippi Lime Field Business and competition scenario SandRidge has been working in the Mississippi Lime area for the last three years as the most active operator. It currently operates 21 active rigs…
Mississippi Lime: Full Cycle Economics comparison with other Resource Plays
Sunflower Project: Mississippi Lime Strategic sense Production: Net production contribution from start of project, with a proportion of liquids production of 46% and good quality oil. Cash flow: only 2 years of negative cash flow,…
Repsols Recent Inorganic Acquisitions in Russia and in the U.S. JV with Alliance Oil Eurotek acquisition Acquisition of a stake in Mississippian Lime Analysts Presentation 20 January 2012