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June 2020 Investor Presentation – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Jun 15, 2020 · 39 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 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 1
    Financial Overview Creating Value & Path to in Colombia Value Creation & Ecuador June 2020 1
  2. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 2
    Forward-Looking Information Cautionary Advisory (continued) The forward-looking statements contained in this press release are based on certain assumptions made by Gran Tierra based on management's experience and other factors believed to…
  3. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 3
    GRAN TIERRA SNAPSHOT Independent international exploration and NYSE AMEX production company focused in Colombia & LSE TSX GTE Ecuador, attractive investment destinations Middle Production 2017 2018 2019 Q120 Magdalena WI Production…
  4. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 4
    MEASURES TAKEN IN RESPONSE TO CURRENT CONDITIONS 2020 Capital Program Significantly Cut Temporarily Suspended Higher Cost Oil Production Guard Balance Sheet With Protective Oil Price Hedges Drive Operating and G&A Cost…
  5. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 5
    POSITIONED TO WITHSTAND NEAR-TERM VOLATILITY o Focused on maintaining liquidity DISCIPLINED o Protect balance sheet from further oil price downward swings FINANICAL o Executive Team & Board have taken a 20% reduction in salary and…
  6. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 6
    GRAN TIERRAS FOCUSED STRATEGY STRATEGY TACTICS Proven, Under-Explored Conventional Apply Proven Technology Hydrocarbon Basins GTE has been able to reduce World-class exploration program targeting large prospect drilling times/costs…
  7. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 7
    CREATING SUSTAINABLE, LONG-TERM VALUE Stakeholder Governance Environmental Stewardship Maintain Safe & Reliable Pursuing corporate Operations Leveraging GTEs resources governance practices which to meaningfully address create…
  8. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 8
    ENVIRONMENTAL, SOCIAL, GOVERNANCE FACT SHEET Safety Environmental Economic Opportunities In 2019, Gran Tierra had its BEST Gran Tierra has committed to reforesting Almost 16,000 local labour opportunities SAFETY RECORD in terms of Lost…
  9. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 9
    GRAN TIERRAS RESPONSE TO COVID-19 Maintain Safe & Reliable Operations Supporting Communities Rigorous Scenario & Contingency Planning Ongoing Preparation For External Shocks Comprehensive Communication With Stakeholders…
  10. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 10
    REASONS TO INVEST IN GRAN TIERRA Sustainable business model with significant value in booked reserves base 1P reserves underpin value; clear path to 2P and 3P exploitation; world class hydrocarbon basins Technically focused team,…
  11. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 11
    NO NEAR-TERM MATURITIES, HEDGING PROGRAM IN PLACE Maturity Profile & Debt Instruments US225MM Committed Credit Facility due 2022 21 - Covenant relief until October 2021 300 300 US300MM of 2025 Senior Notes 204 - Coupon of 6.25%…
  12. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 12
    MCDANIEL RESERVES1 ACORDIONERO COSTAYACO MOQUETA SURORIENTE Reserves by Category Reserves by Category Reserves by Category Reserves by Category 100 25 14 15 12 80 20 23 10 14 92 10 60 15 8 12 75 18 10 11 40 10 6 7 5 7 41 10 4…
  13. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 13
    Waterflood Update 14
  14. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 14
    WATERFLOODING IMPROVED OIL RECOVERY Water flooding practiced since the 1920s, widest practiced secondary recovery method GTE utilizes waterflood technology in several key pools, improves recovery by: Displacing / sweeping oil towards…
  15. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 15
    WATERFLOODING CANDIDATE SCREENING All of Gran Tierras assets currently under waterflood greatly exceed success factors as per Willhites waterflood screening criteria1 Gran Tierras assets rank as world-class candidates for…
  16. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 16
    WATERFLOODING MAXIMIZING EXISTING FIELD RECOVERY1 Size of the bubble represents OOIP in MMBOE under waterflood 2P Original Oil-In-Place2 (MMbbls) 100% 76 Costyaco 178 75% Cohembi MM 178 MQT 180 76 381 MM MM Water Cut (%)…
  17. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 17
    COSTAYACO WATERFLOOD PERFORMANCE - HISTORICAL 60,000 Oil Prod. Rate Water Prod. Rate Current watercuts: Production and Injection Rate (barrels per day) Water Inj. Rate 50,000 1P - GLJ YE2010 1 25% ACR 85% CYC 1 (early life…
  18. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 18
    PROTECTING LONG TERM VALUE OF CORE ASSETS ACORDIONERO COSTAYACO MOQUETA Significant Reduction in Significant Reduction in New Well Capital Costs New Well Capital Costs o 2020 activity includes three well stimulations, expected…
  19. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 19
    Acordionero Review 20
  20. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 20
    ACORDIONERO 34% OOIP GROWTH IN 3 YEARS1 PDN March 2016 GTE April 2018 GTE Jan 20201 MCD YE2016 2P OOIP 280 MMBBL2 MCD YE2018 2P OOIP 332 MMBBL2 MCD YE2019 2P OOIP 381 MMBBL2 Acordionero continues to grow highlighting early nature…
  21. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 21
    ACORDIONERO WATERFLOOD + VOLUMETRICS Strong response evidenced during the second Average Acordionero Well Waterflood Response half of 2019 in Acordionero 1,000 50,000 Average Pump Intake Pressure (psi) 950 45,000 Pressure…
  22. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 22
    PIP1 INCREASES & PRODUCTION GAINS PIP & oil rate increasing Oil rate increasing, PIP flat & increasing Acordionero: waterflood response is evident in pump intake pressure (PIP) and oil rate increases in wells 1. PIP = Pump Intake…
  23. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 23
    ACORDIONERO Q1/2020 DEVELOPMENT : AC55 TO AC59 1,200 Normalized Daily Oil Production (bopd) 1,000 800 600 400 200 0 0 10 20 30 40 50 60 Days Ac-55 Ac-56 Ac-57 Ac-58 Ac-59 Average Q1/2020 infill wells averaging…
  24. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 24
    Transportation 25
  25. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 25
    ACCESS TO EXISTING TRANSPORTATION INFRASTRUCTURE Gran Tierra benefits from large spare capacity in pipelines & trucking throughout Colombia & Ecuador, which leads to: Strong oil prices linked to Brent Narrow oil price differentials…
  26. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 26
    Exploration Overview 27
  27. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 27
    JANUARY 1, 2015 JANUARY 1, 2020 WHERE WE ARE NOW1 Putumayo Putumayo + Oriente Total Net Acres (M acres) 303% 2,174 540 Middle Middle Dec/2015 Dec/2019 Mag. Mag. Putumayo Llanos Middle Mag Ecuador of Prospects and Leads2…
  28. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 28
    VALUE OF 3D SEISMIC COVERAGE Regional 2D Seismic Coverage 3D Seismic Coverage Advanced Processing 3D seismic enhances image quality and improves prospect definition and drilling chance of success 29
  29. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 29
    PUTUMAYO / ORIENTE: SCHEMATIC STRATIGRAPHIC SECTION A Charapa Pomorroso Costayaco Confianza Cohembi Miraflor A Datum: N Sst N Sst N Sst VILLETA FORMATION M2 Lmst A Lmst A Lmst A Lmst U Sst U Sst B Lmst T Sst Basement…
  30. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 30
    PUTUMAYO & ORIENTE UNDEREXPLORED, PROVEN BASINS Colombias Putumayo basin is underexplored due to past above-ground security issues, now mitigated by Peace Agreement Same geology as Ecuador, where almost 6 billion bbls of oil produced1…
  31. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 31
    Financial Overview & Path to Appendix Value Creation 32
  32. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 32
    MCDANIEL PRICE DECKS Jan 1, 2020 Oil Price (US/bbl) Brent Comparison (US/bbl) McDaniel, Jan 1, 2020 McDaniel, Jan 1, 2019 Brent WTI SEC Brent SEC Brent, Jan 1, 2020 SEC Brent, Jan 1, 2019 90 90 85 83.1 85 81.4 79.8 77.9 78.3 80…
  33. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 33
    GLOSSARY OF TERMS NON GAAP NON-GAAP TERMS Operating netback: Oil and gas sales less operating and transportation expenses. Operating netback per boe as presented is defined as oil and gas sales price less forecasts of transportation and…
  34. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 34
    GLOSSARY OF TERMS OIL & GAS OIL & GAS TERMS Barrel (bbl) Barrels of oil per day (bopd) Thousand cubic feet (Mcf) Barrels of oil equivalent (BOE) Barrels of oil equivalent per day (BOEPD) Million barrels of oil (MMBO) Billion…
  35. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 35
    NON-GAAP MEASURES EBITDA & Adjusted EBITDA EBITDA, as presented, is defined as net income (loss) adjusted for depletion, depreciation and accretion (DD&A) expenses, interest expense and income tax expense. Adjusted EBITDA is defined as…
  36. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 36
    NON-GAAP MEASURES Funds Flow from Operations Funds flow from operations, as presented, is defined as net income (loss) adjusted for DD&A expenses, asset impairment, deferred tax expense (recovery), stock-based compensation (recovery)…
  37. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 37
    NON-GAAP MEASURES Funds Flow from Operations A reconciliation from net cash provided by operating activities to funds flow from operations is as follows: Three Months Ended March 31, Twelve Months Ended December Twelve Months Ended…
  38. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 38
    PRESENTATION OF OIL & GAS INFORMATION Reserves Information Unless otherwise expressly stated, all reserves values, future net revenue, ancillary information and any measure of oil and gas activities contained in this presentation is as at…
  39. June 2020 Investor Presentation – Gran Tierra Energy, Inc. – slide 39
    900, 520 3RD AVENUE SW CALGARY, ALBERTA, CANADA T2P 0R3 END Investor Relations 403-265-3221 infograntierra.com 43

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