Skip to main content June 2019 Corporate Presentation – Vaalco Energy Inc. | Shale Experts
Loading...
Database
Slide Database

June 2019 Corporate Presentation – Vaalco Energy Inc.

Vaalco Energy Inc. · Jun 21, 2019 · 46 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. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 1
    Get better picture Leveraging From A Strong Platform To Deliver Growth Investor Presentation June 2019 VAALCO Energy, Inc. NYSE: EGY
  2. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 2
    Corporate Overview VAALCO Energy, Inc. NYSE: EGY
  3. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 3
    Why VAALCO Now Leveraging From a Strong Platform to Deliver Growth Established operator with a proven track record in Africa Strong management team with extensive industry experience Solid financial footing with no debt and ample…
  4. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 4
    20+ Year Track Record Experienced Operator Entering an Ambitious Growth Phase International E&P focused on low-risk, producing assets in Africa Operator of Gabon offshore Etame license Produced 110 million gross barrels of oil to…
  5. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 5
    Management Team Deep Industry, Technical and Financial Experience Cary Bounds Chief Executive Officer and Director Joined VAALCO in 2015 as COO and was named CEO in December 2016. Mr. Bounds began his career at Conoco in 1991. Most…
  6. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 6
    Delivering Value Through Execution Turnaround by Management Team Management team adopted new strategy in 2017 Delivered on objectives to position the Company for sustainable growth Initiated Vision 2025 to achieve material increase in…
  7. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 7
    Vision 2025 Strategy VAALCO Energy, Inc. NYSE: EGY
  8. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 8
    Vision 2025 Roadmap to Transformational Growth Achieve material increase in scale as a premier Africa operator Maintain operational excellence, cost discipline and strong balance sheet Execute work programs at Etame to grow…
  9. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 9
    Vision 2025 Building Blocks to Achieve Growth 2019/20 Etame License Work Program Future Etame License Work Programs One Etame Field development well Five Gamba development wells One development well to extend the Five Gamba near field…
  10. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 10
    Operational Outlook VAALCO Energy, Inc. NYSE: EGY
  11. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 11
    Etame Track Record of Success Repeatedly Creating Value World class Gamba reservoir plus deeper Dentale resource potential 30 MMBO initial gross proved EUR at YE 2002 110 MMBO gross barrels of oil produced 126 MMBO gross proved EUR…
  12. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 12
    Etame Complex A World Class Asset With Material Upside Potential Gross Reserves and Resources Producing Wells Undeveloped Reserves 110 MMBO produced to 2019/20 Gamba date Drilling: 11.7 MMBO 2P 12.5 MMBO proven Future Gamba…
  13. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 13
    Fully Funded 2019/20 Work Program Meaningful Growth with Moderate Risk 2019/20 Drilling Objectives Etame Field Development: Etame 9H Gamba well between the two highest gross producing wells in Etame South Tchibala Extension: South…
  14. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 14
    Remaining Etame Opportunities Moderate Risk Growth Gamba Development: One Gamba well in the Etame field Gamba Leads/Prospects: Five potential satellite prospects identified Dental Development: One workover and nine development…
  15. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 15
    Material Upside Converting Contingent and Prospective to 2P 140 12 24 FUTURE GROSS RECOVERY 120 33 49 BY CLASS (MMBO) 100 64 37 36 80 33 28 60 26 77 40 60 66 49 20 36 0 CURRENT AFTER DRILLING AFTER PHASE 2…
  16. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 16
    Profitable Production Growth Well Defined and Repeatable Organic Growth Unrisked Production Profile Gross (BOPD) 35,000 30,000 Current FPSO oil capacity 25,000 BOPD 25,000 20,000 Prospective 15,000 2C Resources 10,000…
  17. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 17
    Equatorial Guinea Significant Upside Potential Noble 20+ million BOE gross resource discovery with 31% W.I as 210 MMboe operator Block P suspension lifted; awaiting approval of transfer of GEPetrols WI VAALCO will seek partner on a…
  18. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 18
    Inorganic Growth Achieving 5x Value Seeking to complement organic growth with value accretive M&A opportunities Strategic focus on producing assets in Africa Seeking merger candidates of similar size and similar corporate strategy…
  19. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 19
    Stakeholder Engagement VAALCO Energy, Inc. NYSE: EGY
  20. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 20
    Corporate Social Responsibility Partnering with the Communities Where We Operate Underpinning growth is maintaining our social license to operate Strong governmental relationships Technical, Commercial and Policy Builds ease of access…
  21. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 21
    HSE and Governance Our Commitment to Society Total Recordable Incident Rate - Rolling 12 Months Health and safety record over 1.1 million hours with no recordable incident through June 2019 Strong government relationship and 2018…
  22. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 22
    Financial Overview VAALCO Energy, Inc. NYSE: EGY
  23. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 23
    Financial Snapshot(1) Delivering Strong Cash Flow and Income US 35.0 MM US 56.2 MM US 37.2 MM Adjusted Net Income Adjusted EBITDAX Cash from Operations 248% 97% 315% FY 2018 FY 2018 FY 2018 US25.04 US 104.9 MM 3,751 BOPD…
  24. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 24
    VAALCO Free Cash Flow Overview (2019E) Maximize Margins Through Cost Discipline 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 2.5 1.7 1.7 50.00 11.1 50.00 1.7 3.3…
  25. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 25
    Key Performance Metrics Profitable Results Build Financial Strength Production by Quarter 4,500 Adjusted EBITDAX 3rd party DT 20 4,000 200 BO/d 3,500 3,000 15 2,500 BOPD MM 2,000 4,120 10 3,549 3,717 3,496 1,500 16.0 16.9…
  26. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 26
    Working Capital From Continuing Operations Liquidity Position Continues to Improve 40.0 80.00 35.0 33.8 70.00 29.7 30.0 60.00 25.0 50.00 20.0 40.00 Millions per barrel 15.0 15.0 13.0 13.3 30.00 11.0 10.2 9.0…
  27. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 27
    Hedging Ensure Sufficient Cash Flow to Fund Future Drilling Campaigns 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 dated Brent for the July…
  28. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 28
    Share Repurchase Program Returning Value to Shareholders On June 20, 2019 the Board authorized a stock repurchase program VAALCO can repurchase up to 10 million of the currently outstanding shares of common stock The program period…
  29. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 29
    Additional Etame Technical Detail VAALCO Energy, Inc. NYSE: EGY
  30. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 30
    VAALCO Offshore Gabon Etame Reservoirs 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 provides an…
  31. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 31
    VAALCO Etame Offshore License 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 reserves at…
  32. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 32
    Fully Funded 2019/20 Work Program Creating Value through Development Drilling 2019 Development Drilling Locations Etame 9H well: Gamba horizontal between the two highest gross producing wells in Etame Marin South Tchibala 3H well:…
  33. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 33
    2019/20 Drilling Program: Etame Field Main Fault Block Dentale Development The Etame-9H is a horizontal development well offsetting the Etame-4H and Etame-6H Reserve potential: 6.2 MMBO gross 2P 1.7 MMBO net 2P Estimated…
  34. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 34
    2019/20 Drilling Program: South Tchibala North Extension Area Gamba reservoir north of the South Tchibala 1H is currently undeveloped South Tchibala 3H will be drilled South Tchibala 3H as a high angle development well South…
  35. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 35
    Fully Funded 2019/20 Work Program Creating Value through Appraisal Drilling 2019 Appraisal Locations SEENT Platform 4P: Gamba appraisal well bore, if successful proves 4H well and 2 additional Gamba locations, converting 6.0MMBO…
  36. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 36
    2019/20 Drilling Program: SE Etame Fault Compartment/Step Out Area 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 Step Out…
  37. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 37
    2019/20 Drilling Program: Etame Field Main Fault Sub Crop Dentale Appraisal Etame 9P appraisal well bore evaluates the A B sub crop Dentale potential Dentale sands beneath the Gamba reservoir at the Etame field These sands have been…
  38. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 38
    Additional Etame Gamba Opportunities Probable Drilling Location: Etame Platform 11H well: Gamba horizontal 2P reserves 4.1 MMBO gross/1.1 MMBO net reserves Prospective Step Out Locations: SEENT Platform: Three Gamba wells (7.7…
  39. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 39
    Additional Etame Dentale Opportunities Additional Prospective Locations: Etame Platform: Six Dentale infills (10.2 MMBO gross) SEENT Platform: Three Dentale infills (4.5 MMBO gross) Avouma Platform: Two Dentale infills (3.5…
  40. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 40
    Crude Sweetening Project (CSP) 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 per well Managements…
  41. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 41
    Etame Marin Gross Contingent Resources Upside Resources Beyond 2028 Etame Marin Contingent Resources (2C) Etame Platform: (3.9 MMBO gross) SEENT Platform: (0.5 MMBO gross) Avouma Platform: (7.2 MMBO gross) Ebouri Platform: (1.2…
  42. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 42
    Why VAALCO Now Leveraging From a Strong Platform to Deliver Growth Established operator with a proven track record in Africa Strong management team with extensive industry experience Solid financial footing with no debt and ample…
  43. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 43
    Appendix VAALCO Energy, Inc. NYSE: EGY
  44. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 44
    2019 Full Year Guidance (As of May 9, 2019) Net Production (BOPD) 3,300 3,900* *2nd Quarter 3,600 3,800 Sales Volume (BOPD) 3,400 3,800 Production Expense(1) 36 - 42 MM *2nd Quarter Guidance (27.00 - 31.00 per BO) (26.00 - 30.00…
  45. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 45
    Non-GAAP Reconciliations Three Months Ended Year Ended Reconciliation of Net income to Adjusted EBITDAX March 31, 2019 March 31, 2018 December 31, 2018 2018 2017 Net income 6,501 8,659 10,424 98,232 9,651 Add back: Impact of…
  46. June 2019 Corporate Presentation – Vaalco Energy Inc. – slide 46
    Contact Corporate Office Branch Office 9800 Richmond Avenue, VAALCO Gabon SA Suite 700, Houston, Texas 77042 B.P. 1335, Port Gentil, Gabon T 713.623.0801 F 713.623.0982 E vaalcovaalco.com T +241-(0)1-56-55-29 Investor…

From the store

Browse maps, data & reports in the Shale Experts store