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Q1 2015 Earnings Call – Pacific Rubiales Energy Corp.

Pacific Rubiales Energy Corp. · May 14, 2015 · 14 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 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 1
    1Q 2015 Financial & Operational Results
  2. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 2
    1Q 2015 Results* Operational and Financial Highlights 1Q 2015 48.57 /bbl WTI: 4Q14 73.20/bbl & 1Q14 98.61/bbl decrease of -34% and -51% respectively 152,650 boe/d Net Production(1): +4% & +3% increase vs. 4Q14 & 1Q14…
  3. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 3
    Net Production Profile Mboe/d Natural Gas L&M Oil Other Heavy Oil Rubiales Heavy Oil 153 160 149 149 145 147 9 11 10 10 140 10 120 47 49 56 49 51 100 80 26 27 28 31 34 60 40 65 63 58 55 54 20 0 1Q 2014 2Q 2014 3Q…
  4. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 4
    Commercial Activity Oil & Gas Sales Trading Advantages Market Prices Realization Price /bbl WTI NYMEX BRENT ICE Combined Realized Price /boe /bbl WTI NYMEX ICE BRENT 130 150 150 120 110 100 100 100 90 80 93.38 70 60 50 65.64…
  5. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 5
    Oil Cash Operating Costs /bbl Diluent Transportation Cost Production Cost (Lifting Cost) - 14% 34.43 33.89 32.77 - 21% 2.90 2.19 2.30 28.05 1.95 15.02 14.99 22.10 14.13 1.80 11.70 11.75 16.51 16.71 16.34 14.40…
  6. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 6
    Oil Netbacks /bbl Total Operating Cost Netback* 120 98.44 99.76 100 92.14 31.46 34.22 80 Cash operating margin above 45% despite 35.03 68.27 downturn throughout 2014 60 Oil netback margin: 64% FY 2014, 64% FY 28.82 50.38…
  7. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 7
    Unit Cost Improvement Production Cost (Lifting Costs) 2014 vs. 2015(1) Transportation Cost 2014 vs. 2015 /boe /boe 18.0 15.57 16.0 13.88 16.0 -46% 14.0 -19% 14.0 12.0 11.18 12.0 10.0 10.0 8.33 8.0 8.0 6.0 6.0 4.0 4.0 2.0 2.0 0.0…
  8. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 8
    Midstream/Infrastructure Assets Spin Out PACIFIC PACIFIC OCENSA MIDSTREAM INFRASTRUCTURE PNG(1) ASSETS 5% 100% 41% 12.9% 5% WI 36% WI(2) CLOSED 385 MM 240 MM 30% WI 200MM IN PROGRESS 2Q 2015(3) 1. Gross working interest…
  9. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 9
    2015 Snapshot GUIDANCE 1Q 2015 2Q 2015* DETAILS WTI /bbl: 45(1Q), WTI prices year to date better 48.57 55 - 59 than planned for 50(2Q), 55(3Q), 60(4Q) Average Production 153 Mboe/d 155 - 157 Mboe/d Optimization & efficiencies…
  10. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 10
    Management Estimate - Annual Net Production Profile Mboe/d Base Contingent Risked Exploration (Including Mexico) 300 250 200 150 100 50 0 2015 2016 2017 2018 2019 15
  11. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 11
    1Q 2015 Drilling Results 2015 1Q 2015 Exploration Well Results BLOCK WELL Net 1Q 2Q 3Q 4Q Prospect BLOCK Well Type Result Pay Well Name (ft)* Quifa N 1 1 Quifa QFN-CS2 Exploratory Successful 23 CPO-17 2 2 Avispa 2 Appraisal…
  12. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 12
    1Q 2015 Financial Highlights Financial Results 4Q14 vs. 1Q15 Operating Netbacks 4Q14 vs. 1Q15 Earnings from Oil Netback Gas Netback Combined Netback MM Revenues Adjusted EBIDTA FFO Operations* 45 1,200 39.45 40 38.36 992 1,000 35…
  13. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 13
    1Q 2015 Financial Results Breakdown Million Cash Non-cash 800 475 55 270 79 18 16 157 36 28 40 -406 -449 -722 Revenues Operating Costs G&A Expenses EBITDA Finance Costs Cash Taxes Other Cash Items Funds Flow from…
  14. Q1 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 14
    Debt Profile Current Debt Maturity Profile(1) Debt/Adjusted EBITDA (2) MM USD Banks Cash Bonds Banks 1,285 2.6x (2) 25% 1,186 1,322 1,049 2.1x 991 5,302 1.9x 1.7x 3,980 860 655 Bonds 75% 0.8x 0.8x 0.6x 0.6x 117 326 19…

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