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Q2 2015 Earnings Call – Pacific Rubiales Energy Corp.

Pacific Rubiales Energy Corp. · Aug 13, 2015 · 18 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 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 1
    2Q 2015 Financial & Operational Results
  2. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 2
    Operational Milestones 2Q 2015 4
  3. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 3
    Operational and Financial Highlights 2Q 2015 WTI: 4Q14 73.20 /bbl & 1Q15 48.57 /bbl decrease of -21% and increase 58 /bbl of +19% respectively 152.4 Mboe/d Net Production (1): +2% increase vs. 2Q14, & stable vs.1Q15 703 Million…
  4. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 4
    Net Production Profile Mboe/d Natural Gas L&M Oil Other Heavy Oil Rubiales Heavy Oil 180 152.6 152.4 160 149.1 144.7 147.1 9 8 140 10 10 10 120 49 56 56 49 51 100 80 27 28 31 34 33 60 40 63 58 55 54 55 20 0 2Q…
  5. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 5
    Commercial Activity Oil & Gas Sales Trading Advantages Market Prices Realization Price BRENT WTI /bbl WTI NYMEX BRENT ICE Combined Realized Price /boe /bbl 140 150 150 120 100 80 100 100 60 95.0 40 20 50 65.6 50 0 49.5 53.7…
  6. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 6
    Combined Total Operating Costs /boe Production Cost (Lifting Cost) Transportation Cost Diluent Overlift/Underlift Other Costs - 18% - 22% = 32 33 1 2 2 27 2 27 1 1 21 2 1 14 4 2 13 2 11 13 11 16 15 14 8 9 -1 0…
  7. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 7
    Oil Netbacks /bbl Total Operating Cost Netback* 120 100 100 92 34 Cash operating margin 60%, in line with 80 historic averages. 35 68 2Q15 Netback increased by 50% vs. 1Q15 60 55 29 50 Oil netback margins: 64% FY 2014, 64%…
  8. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 8
    Total Cost Improvement Production Cost (Lifting Costs) (1) Transportation Cost MM MM -38% -6% 250 250 200 -13% 200 -6% 150 150 100 198 100 176 166 156 50 123 107 50 0 0 1Q 2014 1Q 2015 2Q 2015 1Q 2014 1Q 2015 2Q 2015 Sold…
  9. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 9
    2015 2H 2015 Puerto Baha 11
  10. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 10
    Hedged Production 2015 WTI/BRENT Hedges Settlement Past 9 Months Hedged Instruments* MM Accumulated Income Settlement Amount Notional Puts Calls Settlement 1Q15 90 (MMbbl) (/bbl) (/bbl) Amount WTI 2.6 63.27 74.50 80 BRENT 3.9 56.49…
  11. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 11
    Midstream/Infrastructure Assets Spin Out PACIFIC PACIFIC OCENSA MIDSTREAM INFRASTRUCTURE PNG (1) ASSETS 5% 100% 41% 12.9% 5% WI 36% WI CLOSED 385 MM 240 MM 64% WI 41% WI 425 - 475 MM 325 - 375 MM IN PROGRESS 2H 2015 (2) 2016…
  12. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 12
    2015 Snapshot GUIDANCE 1Q 2015 2Q 2015 YTD* WTI /bbl: 45(1Q), 48.57 57.95 51 - 55 50(2Q), 55(3Q) Average Production 152.6 Mboe/d 152.4 Mboe/d 151 - 153 Mboe/d 150 156 Mboe/d Combined Realization 49.45 /boe 53.72 /boe 51 - 52…
  13. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 13
    Debt Profile as of June 30, 2015 Current Debt Maturity Profile(1) Extraordinary Income & Uses 2015 MM USD Banks Bonds MM Banks 1,286.0 1.600 25% 1,178.7 1,366-1,466 325- 375 1,314 1.400 1,048.2 5,295 991.1 1.200 100 3,981…
  14. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 14
    Exploration Highlights 2Q 2015 16
  15. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 15
    2Q 2015 Drilling Results 2015 2Q 2015 Exploration Well Results BLOCK WELL 1Q 2Q 3Q 4Q Prospect Well Net Pay BLOCK Well Type Result Name (ft.) Quifa N 1 1 Corcel Espadarte-2 Appraisal Successful 12 Guatiquia 3 2 1 131 (Peru) Los…
  16. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 16
    Financial Results 2Q 2015 18
  17. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 17
    2Q 2015 Financial Highlights Financial Results 1Q15 vs. 2Q15 Operating Netbacks 1Q15 vs. 2Q15 Earnings from Oil Netback Gas Netback Combined Netback MM Revenues Adjusted EBIDTA FFO Operations* 35 1.200 32.94 32.64 1.000 30 28.04…
  18. Q2 2015 Earnings Call – Pacific Rubiales Energy Corp. – slide 18
    2Q 2015 Financial Results Breakdown Million 703 345 Cash Non-cash 51 307 78 12 49 55 64 5 168 (398) (226) Revenues Operating Costs G&A Expenses EBITDA Finance Costs Cash Taxes Other Cash Items Funds Flow from Other…

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