Skip to main content May 2019 Corporate Update – Vaalco Energy Inc. Investor Presentation | Shale Experts
Loading...
Pm

May 2019 Corporate Update – Vaalco Energy Inc.

Vaalco Energy Inc. · May 14, 2019 · 29 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. May 2019 Corporate Update – Vaalco Energy Inc. – slide 1
    NYSE:EGY Building the Future from a Strong Foundation May 2019 Update
  2. May 2019 Corporate Update – Vaalco Energy Inc. – slide 2
    Premier International Operator Strong Balance Sheet and Poised for Growth NYSE:EGY Block P Houston-based E&P operator of established Working Interest 31.0% 57,000 gross acres shallow-water international properties 18,000 net…
  3. May 2019 Corporate Update – Vaalco Energy Inc. – slide 3
    Delivering Value Through Execution Maintain Strong Cash Flow and Income Generation NYSE:EGY Finalized Etame Marin PSC extension, increasing the term of the three existing exploitation authorizations to September 16, 2028, with 2…
  4. May 2019 Corporate Update – Vaalco Energy Inc. – slide 4
    VAALCO Year End 2018 Reserves NYSE:EGY 5.4 MMBO Net Proved Reserves for YE-2018 9.7 MMBO Net Proved + Probable (2P) Reserves for YE-2018 Replaced 270% of 2018 Production 6.0 Net Proved Reserves, MMBO 5.0 1.1 5.4 4.0 3.0…
  5. May 2019 Corporate Update – Vaalco Energy Inc. – slide 5
    Repeatable Track Record of Success Continuing to Create Value at Etame NYSE:EGY Etame Opportunities 2019 development program o Drill at least two development wells o Drill two appraisal well bores 2020+ additional drilling…
  6. May 2019 Corporate Update – Vaalco Energy Inc. – slide 6
    VAALCO Strategy Building the Future from a Strong Foundation NYSE:EGY Vision 2025 Premier Africa Operator with a diversified portfolio, 5X Growth from 2019 (Reserves/Production/Value), top quartile TSR Stakeholder Operational…
  7. May 2019 Corporate Update – Vaalco Energy Inc. – slide 7
    Vision 2025 Roadmap to Transformational Growth NYSE:EGY 2019-2020 Etame Program 3 development wells & 2 appraisal wells +15 MMBO gross resource 26 MMBO current gross reserve base with upside potential Field development…
  8. May 2019 Corporate Update – Vaalco Energy Inc. – slide 8
    Etame Complex License Extension Opens Additional Potential in the Area NYSE:EGY Etame License Etame Fields 4 producing have produced fields & future 110 MMBO growth since 2002 2P Gross Prospective Reserves of 36 MMBO 64…
  9. May 2019 Corporate Update – Vaalco Energy Inc. – slide 9
    Etame Vision 2025 Drilling Campaigns will Maximize Asset Value & Mature Resource Based NYSE:EGY Proved + Probable Proved + Probable Proved + Probable Proved + Probable Proved + Probable Phase 2 Drilling Current Production…
  10. May 2019 Corporate Update – Vaalco Energy Inc. – slide 10
    Etame Strategy Accelerating growth, increasing reserves, reducing cost per barrel NYSE:EGY Unrisked Production Profile (bopd) 30,000 25,000 20,000 Production (BOPD) Prospective 15,000 2C Resources 10,000 2P…
  11. May 2019 Corporate Update – Vaalco Energy Inc. – slide 11
    NYSE:EGY OPERATIONAL OVERVIEW
  12. May 2019 Corporate Update – Vaalco Energy Inc. – slide 12
    VAALCO Offshore Gabon Etame Reservoirs NYSE:EGY Located in Prolific South Gabon basin in shallow water (85m) Numerous undrilled opportunities at moderate drilling depths (1800m TVD to 2900m TVD) Continuous overlying salt sheet…
  13. May 2019 Corporate Update – Vaalco Energy Inc. – slide 13
    VAALCO Etame Offshore License NYSE:EGY Operator with 31.1% WI and 27.1% NRI (net of royalty) Joint Owners: Sinopec (Addax), Sasol, PetroEnergy Current producing wells: 12.5 MMBO of proved and 7.7 MMBO probable gross developed…
  14. May 2019 Corporate Update – Vaalco Energy Inc. – slide 14
    2019 Development Program Profitable Growth Funded Internally NYSE:EGY 2019 Drilling Commitment 2 Development Wells and 2 Appraisal Well Bores 2019 Development Drilling Locations Etame Platform 9H well: Gamba horizontal between the…
  15. May 2019 Corporate Update – Vaalco Energy Inc. – slide 15
    2019 Drilling Program: Etame Field Main Fault Block Development NYSE:EGY The Etame-9H is a horizontal development well offsetting the Etame-4H and Etame-6H Reserve potential: 4.8 MMBO gross 2P 1.3 MMBO net 2P Estimated…
  16. May 2019 Corporate Update – Vaalco Energy Inc. – slide 16
    2019 Drilling Program: SE Etame Fault Compartment/Step Out Area NYSE:EGY SE Etame 4P appraisal well bore will evaluate the Step Out area, interpreted as an extension from the SE Etame 2H The SE Etame 4H will be drilled into the…
  17. May 2019 Corporate Update – Vaalco Energy Inc. – slide 17
    2019 Drilling Program: South Tchibala North Extension Area NYSE:EGY Gamba reservoir north of the South Tchibala 1H is currently undeveloped South Tchibala 3H will be South Tchibala 3H drilled as a high angle development well…
  18. May 2019 Corporate Update – Vaalco Energy Inc. – slide 18
    Additional Etame Gamba Opportunities NYSE:EGY Additional Prospective Locations: SEENT Platform: Three Gamba wells (7.7 MMBO) Avouma Platform: One Gamba well (2.1 MMBO) Prospects: Provide significant upside opportunities…
  19. May 2019 Corporate Update – Vaalco Energy Inc. – slide 19
    Additional Etame Dentale Opportunities NYSE:EGY Additional Prospective Opportunities: Etame Platform: Six Dentale infills (10.2 MMBO) SEENT Platform: Three Dentale infills (4.5 MMBO) Avouma Platform: Two Dentale infills (3.5…
  20. May 2019 Corporate Update – Vaalco Energy Inc. – slide 20
    Potential Crude Sweetening Project (CSP) NYSE:EGY 3 wells drilled and shut in due to H2S in Ebouri and Etame fields Ebouri 3H and Ebouri 4H existing wells: 5.3 MMBO gross contingent resource Initial tests of 800 1,500 gross BOPD…
  21. May 2019 Corporate Update – Vaalco Energy Inc. – slide 21
    Etame Marin Gross Contingent Resources Upside Resources Beyond 2028 NYSE:EGY Etame Marin Contingent Resources (2C) Etame Platform: 3.9 MMBO SEENT Platform: 0.5 MMBO Avouma Platform: 7.2 MMBO Ebouri Platform: 1.2 MMBO…
  22. May 2019 Corporate Update – Vaalco Energy Inc. – slide 22
    Equatorial Guinea: Significant Upside Potential NYSE:EGY 20+ million BOE gross resource discovery with 31% W.I as operator Block P suspension lifted; awaiting approval of transfer of GEPetrols WI EGY will seek partner on a…
  23. May 2019 Corporate Update – Vaalco Energy Inc. – slide 23
    NYSE:EGY FINANCIAL OVERVIEW
  24. May 2019 Corporate Update – Vaalco Energy Inc. – slide 24
    VAALCO Free Cash Flow Overview (2019E) Maintain Strong Cash Flow and Income Generation NYSE:EGY 2019 Operational Margin Per Barrel 2019 Free Cash Flow Per Barrel 70.00 70.00 19.5 60.00 28.1 60.00 11.0 19.6 1.7 2.5 1.7 3.3…
  25. May 2019 Corporate Update – Vaalco Energy Inc. – slide 25
    Key Performance Metrics Strong Consistent Results NYSE:EGY Production by Quarter Adjusted EBITDAX 4,500 3rd party DT 20 4,000 200 BO/d 16.9 16.0 3,500 15 3,000 2,500 9.7 BOPD MM 10 8.8 2,000 4,120 3,549 3,717 3,496…
  26. May 2019 Corporate Update – Vaalco Energy Inc. – slide 26
    Working Capital From Continuing Operations Liquidity Position Continues to Improve NYSE:EGY 40.0 80.00 35.0 33.8 70.00 29.7 30.0 60.00 25.0 50.00 per barrel Millions 20.0 40.00 15.0 15.0 13.0 13.3 30.00 11.0 10.2…
  27. May 2019 Corporate Update – Vaalco Energy Inc. – slide 27
    Hedging Hedges in place to ensure sufficient cash flow to fund future drilling campaigns NYSE:EGY June 2018: Swaps for 400,000 BBL at 74.00 dated Brent for the June 2018 to June 2019 period May 2019: Swaps for 500,000 BBL at 66.70…
  28. May 2019 Corporate Update – Vaalco Energy Inc. – slide 28
    2019 Full Year Guidance (As of May 9, 2019) NYSE:EGY Production (BOPD) 3,300 3,900* *2nd Quarter 3,600 3,800 Production Expense(1) 36 - 42 MM* (26.00 - 30.00 per BO) *2nd Quarter Guidance (27.00 - 31.00 per BO) Workovers*…
  29. May 2019 Corporate Update – Vaalco Energy Inc. – slide 29
    Non-GAAP Reconciliations NYSE:EGY 1 Excludes current assets and current liabilities attributable to discontinued operations and lease liabilities 32

From the store

Browse maps, data & reports in the Shale Experts store