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Q4 2013 PRESENTATION – Interoil Exploration & Production Asa

Interoil Exploration & Production Asa · Feb 26, 2014 · 26 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. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 1
    4Q 2013 Presentation 1
  2. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 2
    Table of contents 1. Recent highlights 2. Assets in brief 3. Colombia development program 4. Q4 financial review 5. Outlook 2
  3. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 3
    Recent highlights Continued strong profitability during the quarter Norway, Oslo EBITDAX of USD 17 mill (USD 57 mill FY13) Headquarter Net profit of USD 7 mill (USD 19 mill FY13) 2014 Colombian development program revised Colombia,…
  4. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 4
    Table of contents 1. Recent highlights 2. Assets in brief 3. Colombia development program 4. Q4 financial review 5. Outlook 4
  5. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 5
    High potential portfolio in South America Operated portfolio of two licenses in Colombia Puli-C is the main producing block Strong production growth on the back of 12-well drilling program in 2013 Large potential to grow production…
  6. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 6
    Reserve and resource overview Colombia 2P: 114% reserve replacement ratio on 2012 Significant upside through further drilling, operational improvements and exploration 17 MMbbls 2P reserves in Peru, contingent on 10-year license…
  7. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 7
    Peru update Stable production despite limited investments Q4 production down 2% on Q3 Working Interest Production, bbl/day 6% decline on Q4 2012 3 500 7 3 000 6 Strong cash flows expected onwards 2 500 5 Capex (USD mill) All…
  8. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 8
    License extension process Perupetro has decided to extend the licenses in the North Eastern region by 10 years. As Interoil Peru is operating its licenses according to an injunction due to force majeure events, Perupetro claims that…
  9. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 9
    License extension process Interoil and its legal advisors are of the opinion that we have a strong case in the arbitration case, and hence, expects to be awarded an extension until October 2014 for Block IV and January 2016 (Block…
  10. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 10
    Colombia update Puli C Oil production increase of 66% since beginning of drilling program in Q2. Working Interest Production, boe/day 47% increase when including Altair and gas 2 000 20 1 800 18 1 600 16 New management is focusing on…
  11. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 11
    Table of contents 1. Recent highlights 2. Assets in brief 3. Colombia development program 4. Q4 financial review 5. Outlook 11
  12. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 12
    2013 Drilling program - Evaluation 2013 Net Oil Production - Puli-C - Colombia 12 well drilling program profitable on all metrics: 1 400 IRR of 50% 1 200 NPV(10%) of USD 10 mill (net, after tax) 1 000 Oil Production, bopd 735…
  13. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 13
    Puli C 2014 Production activities The 2014 development plan has been modified to optimize operations and production and reserves growth: Operational activities aimed at reducing declination, increasing production and reducing operating…
  14. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 14
    Puli C 2014 Exploration and production activities ACTUAL PRODUCTION Strategic wells: 1 2 exploration wells, Mana West and potentially Ambrosia 2 1 production wells Total Capex of USD 7,2 Mill (gross) 3,6 MMBbls oil new gross…
  15. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 15
    LLA-47 E&P Contract Leads Prolific neighborhood, producing from 5 different reservoirs At least three different productive trends were identified Field average size 5.5 MMBbls. API 18-40 11 opportunities identified for 2 (out of 5)…
  16. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 16
    LLA-47 exploration license surrounding fields Copas - C3, C5 y C7 Mapache - C7/Mirador 9390 BOPD - API 32 to Remaches - C5 677 BOPD - API 34 40 757 BOPD - API 2.58 MMBbls 4.3+3.2+3.1 MMBbls 33.9 5.1+3.9 MMBbls Oropendola - C7…
  17. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 17
    Table of contents 1. Recent highlights 2. Assets in brief 3. Colombia development program 4. Q4 financial review 5. Outlook 17
  18. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 18
    Production overview Daily net production per quarter 10 000 9 000 8 000 7 000 6 000 5 000 4 000 3 000 2 000 1 000 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
  19. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 19
    Marketing Peru vs Colombia 120 115 110 105 USD / bbl 100 95 90 85 80 Q1 13 Q2 13 Q3 13 Q4 13 Brent Realized Colombia Peru: Colombia: Oil price realized: slight and stable discount Brent discount depending on buyer,…
  20. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 20
    Peru: Strong cash flows on limited investments Operating netback per barrel 1) EBITDA and capex for Peru 120 40 35 100 30 80 54 53 53 54 53 50 USD per bbl USD million 25 36 60 20 12 15 13 16 17 19 15 40 28 10 20 43…
  21. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 21
    Colombia: strong netbacks and profitability Operating netback per barrel 1 EBITDAX and capex for Colombia (incl. Altair) 120 35 30 100 8 8 9 8 8 19 25 25 7 15 27 18 80 USD million USD per bbl 16 20 60 15 31 28 40…
  22. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 22
    4Q13 Stronger revenues and profitability Figures in USD millions Q4 13 Q4 12 2013 2012 Realized oil price 103 105 103 107 Production (boed WI after royalty) 3 076 2 813 2 811 3 150 Sales 25 27 97 118 EBITDAX 17 10 57 69…
  23. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 23
    Description of interest bearing indebtedness NOK 310m corporate bond loan (USD 49m) Issuer: Interoil Exploration & Production ASA 15% interest, maturity: March 2016 Share pledge in holding companies for South American operating…
  24. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 24
    Table of contents 1. Recent highlights 2. Assets in brief 3. Colombia development program 4. Q4 financial review 5. Outlook 24
  25. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 25
    Outlook Next phase of Puli-C development program will secure increased recovery rate at low capex: Enhance recovery of existing wells Expected increase in production by 40% in 2014 Expected increase in 2P reserves is 1,6 MMboe…
  26. Q4 2013 PRESENTATION – Interoil Exploration & Production Asa – slide 26
    26

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