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November 2015 Investor Presentation – Pacific Exploration and Production Corp

Pacific Exploration and Production Corp · Nov 30, 2015 · 25 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. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 1
    TSX:PRE BVC: PREC www.pacific.energy INVESTOR PRESENTATION November 2015
  2. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 2
    4 INVESTOR RELATIONS
  3. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 3
    The Company & Assets Production Mix 7% 27% Heavy Oil 2014 L&M Oil Base Natural Gas 67% Leading Latin American focused E&P 84 E&P blocks in six countries (29 million gross (22 million net) acres Diversified across…
  4. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 4
    Peru- Block 192 PRE awarded two year service contract to operate Block 192, located in the Northern Maraon Basin of Peru Largest block in Peru at 17% Peru production. 12,000 bbl/d; 18 degree API oil; 97.3% watercut 17 light,…
  5. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 5
    Corporate Social Responsibility & Sustainability The New Way of Doing Business Our goal is to generate economic growth under social and shared value We work towards the satisfaction of our stakeholder's expectation and beyond…
  6. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 6
    Operational Milestones 3Q 2015 INVESTOR RELATIONS
  7. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 7
    Operational & Financial Highlights 3Q 2015 WTI: 48.57 /bbl & 57.95 /bbl in 1Q15 & 2Q15 respectively, decrease of -4% and 46.5 /bbl -20% Combined Realization Price (1): decrease of -4% vs. 2Q15, & increase of +4% in 1Q15; 51.49 /bbl…
  8. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 8
    Net Production Profile Mboe/d Natural Gas L&M Oil Other Heavy Oil Rubiales Heavy Oil 180 152.6 152.4 152.9 160 144.7 147.1 9 8 10 140 10 10 120 56 56 55 49 51 100 80 28 31 34 34 33 60 40 58 55 54 55 55 20 0 3Q 2014 4Q…
  9. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 9
    Commercial Activity Oil & Gas Sales Trading Advantages Market Prices Realization Price /bbl Brent WTI /bbl WTI NYMEX BRENT ICE Combined Realized Price /boe 150.00 150.00 130 110 88.05 100.00 100.00 90 65.64 70 53.72 49.45 51.49 50…
  10. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 10
    Combined Total Operating Costs /boe Production Cost (Lifting Cost) Transportation Cost Diluent Overlift/Underlift Other Costs - 18% 33 - 22% = = 2 27 2 26 1 2 21 2 1 21 13 4 2 2 2 11 3 13 11 11 16 13 8 9 6 0 -4…
  11. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 11
    Commercial Activity Oil & Gas Sales Trading Advantages Market Prices Realization Price /bbl Brent WTI /bbl WTI NYMEX BRENT ICE Combined Realized Price /boe 150.00 150.00 130 110 88.05 100.00 100.00 90 65.64 70 53.72 49.45 51.49 50…
  12. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 12
    Oil Netbacks /bbl Total Operating Cost Netback* 100 92.14 90 Cash operating margin 58%, in line with 80 historic averages. 35.0 68.27 70 3Q15 Netback decreased by - 6% vs. 2Q15 60 55.04 52.94 28.8 50.38 50 Oil netback margins: 54%…
  13. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 13
    Total Cost Improvement Production Cost (Lifting Costs) (1) Transportation Cost (5) MM MM 250 /boe Sold (3) Produced (4) - 21% 200 /boe Sold (3) Produced (4) - 61% 200 3Q_14 15.48 15.91 150 3Q_14 13.16 13.53 150 1Q_15 8.23 8.92 100…
  14. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 14
    Pto. Baha 2015 3Q 2015 INVESTOR RELATIONS
  15. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 15
    Hedged Production 2015 WTI/BRENT Hedges Settlement Hedging Program 2015 MM Accumulated P&L Realized P&L Notional Puts Calls Settlement 200 (MMbbl) (/bbl) (/bbl) Amount As of October 31st 180 191.18 MM WTI 2.6 63.27 74.50 1Q15…
  16. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 16
    Extraordinary Cash (Snapshot) MM 1,239 - 1,339 1,400 225 - 275 1,200 41% WI 425 - 475 1,000 100 (1) 800 64% WI 600 489 400 200 0 Cash Position Pacific Midstream PEL Pacific Infrastructure Ending Balance 3Q15…
  17. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 17
    2015 Snapshot GUIDANCE FY2015 1Q 2015 2Q 2015 3Q 2015 YTD WTI /bbl 50 - 60 48.57 57.95 46.50 50.88* Average Production 150 - 156 Mboe/d 152.6 Mboe/d 152.4 Mboe/d 152.9 Mboe/d 153* Mboe/d Combined Realization Price WTI + (1…
  18. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 18
    Debt Profile as of September 30, 2015 Current Debt Maturity Profile(1) Debt/Adjusted EBITDA (2) MM USD Banks Bonds 4.2x Banks 1,286.0 25% 1,178.7 1,314 1,048.2 2.1x 991.1 5,302 1.9x 1.7x 3,988 655.8 Bonds 75% 0.8x 0.8x…
  19. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 19
    Exploration Highlights 3Q 2015 INVESTOR RELATIONS
  20. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 20
    3Q 2015 Drilling Results 2015 3Q 2015 Exploration Well Results BLOCK Prospect Net Pay WELL 1Q 2Q 3Q 4Q Block Well Type Result Well Name (ft.) Quifa N 2 1 1* Corcel Zural-1 Exploratory Successful 19 Guatiquia 4 2 2 Ceibo-2…
  21. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 21
    3Q 2015 Drilling Results GUATIQUIA BLOCK CORCEL BLOCK AVISPA-6 CEIBO-2 ZURAL-1 LS1a Depth Map LS1 Depth 10 foot C.I. Map 1km Grid 10 foot C.I. 500m Grid Production Acum. Production Net Pay Production Acum. Production…
  22. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 22
    Financial Results 3Q 2015 INVESTOR RELATIONS
  23. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 23
    3Q 2015 Financial Highlights Financial Results 2Q15 vs. 3Q15 Operating Netbacks 2Q15 vs. 3Q15 Earnings from MM Revenues Adjusted EBITDA FFO Operations* Oil Netback Gas Netback Combined Netback 1,200 50 - 5% 1,000 - 7% - 6% 40 800…
  24. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 24
    3Q 2015 Financial Results Breakdown 670 345(1) Cash Non- Cash Items 46 72 53 125 272 72 12 9 197 (345) (568) (617) Revenues Operating G&A EBITDA Finance Cash Taxes Other Cash FFO Other Non- Non-cash Foreign DD&A…
  25. November 2015 Investor Presentation – Pacific Exploration and Production Corp – slide 25
    Low Oil Price Environment Management COST REDUCTION Continue production costs (lifting) on OPEX of -61% y/y, transportation -21%, and G&A of -45% y/y /boe CAPEX Capex to match cash flow while maintaining production. YTD capex of 565 MM…

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