Skip to main content RBC Global Energy Conference Final – Vaalco Energy Inc. Investor Presentation | Shale Experts
Loading...
Pm

RBC Global Energy Conference Final – Vaalco Energy Inc.

Vaalco Energy Inc. · Jun 2, 2014 · 30 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. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 1
    RBC Global Energy and Power Conference June 2, 2014 New York NYSE:EGY
  2. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 2
    Poised for Growth Strong high margin base business Near term low risk growth opportunities Balanced long term growth strategy Discovered Undeveloped Resource Acquisition Strong Current West Africa Exploration Program Cash…
  3. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 3
    West Africa Focus Block P Working Interest 31.0% 57,000 gross acres 18,000 net acres Bata Offshore Exploration & Development EQUATORIAL GUINEA Mutamba Iroru Permit Working Interest 41.0% 270,000 gross acres 111,000 net…
  4. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 4
    Company Profile Key Metrics Share Price(1) 6.44 52-Week Range(1) 5.03 - 9.32 Market Capitalization(1) 367 million Cash Balance(2) 81 million Revolving Debt Facility (Undrawn) (1) 65 million Net Production(1) 4,400 BOPD Reserves…
  5. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 5
    Efficient Reserve Development - Etame Marin Permit Gross Production (BOPD) Etame Original Forecast Etame Base Actual Etame Additional Actual Avouma Ebouri 25,000 Exploitation and development 20,000 Repeatable performance 15,000 New…
  6. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 6
    Oily and Leveraged to Brent Realized Oil Price Per BBL Oil / Gas Production Compared to Brent BBL (2012) 100.00% 115.00 of Production 110.00 80.00% 105.00 Total % Rev/Bbl 60.00% % Gas 100.00 40.00% % Oil 95.00…
  7. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 7
    Etame Jacket Etame Deck Etame Jacket Development Projects SEENT Jacket SEENT Deck SEENT Jacket 8
  8. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 8
    Offshore Gabon Etame Marin Permit Operator with a 28.1% net W.I. FPSO Petroleo Nautipa Partners: Ebouri Long-term contract with Tinworth through 2020 Capacity: 30,000 bbls of total fluids per day Sinopec (Addax), Sasol, Sojitz ,…
  9. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 9
    Etame Field Expansion Project New Etame Platform 175 million gross investment in the new platform (49 million net) 4 pile, 8 slot platform in water depth of 85 meters Initial 3 well development 25 New Etame Platform million gross…
  10. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 10
    SE Etame & North Tchibala Fields Project New SEENT Platform 150 million gross investment in the new platform (42 million net) ETSEM-2H 4 pile, 8 slot platform in water depth of 85 meters Initial 3 well development 25 million gross…
  11. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 11
    Central Crude Sweetening Project (CCSP) New Processing Platform 200 - 250 million gross investment in the new platform (56 - 70 million net) 1 new Ebouri development well at 27 million (7.5 million net) Reentry of 3 existing…
  12. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 12
    Onshore Gabon- Mutamba Iroru Permit Shell Rabi Kounga Field VAALCO operated with 41% Cum: 840 MMBO EUR 900 MMBO working interest NGongui discovery well drilled in Rabi Kounga Pipeline Q4 2012 Encountered 49 feet of oil pay in…
  13. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 13
    Exploration Projects 14
  14. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 14
    Offshore Angola - Block 5 VAALCO VAALCO Block 5 Loengo Prospect VAALCO VAALCO Cobalt Mobil Cobalt Cobalt Cobalt Cobalt Prospect Lead Discovery Discovery Discovery Discovery Discovery Discovery Loengo Ombundi Orca -1 Baleia -1A…
  15. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 15
    Block 5 - Prospects and Leads Kindele Prospect (Post Salt) Block 5 Jack Prospect (Post Salt) WD=101m Gross Potential=20-49 MMbls WD=75m Gross Potential=22-55 MMbls Mubafo Discovery SW NE SW NE Atlantic Ocean Post Salt…
  16. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 16
    Offshore Angola Block 5 Kindele Prospect Kindele Prospect Kindele-1 A Dry Hole Costs 38 million gross (19 million net to VAALCO) Expected spud 4Q 2014 Mucanzo sand target Water depth 101 meters Planned total depth 2,250 meters…
  17. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 17
    Offshore Equatorial Guinea - Block P Marathon Acquired 31% W.I. in 57,000 1,100 mmboe Equatorial Guinea gross acres in November, 2012 Working with GEPetrol (operator) to develop a joint operatorship model Exxon 1,300 mmboe…
  18. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 18
    Block P - Prospects and Leads Block P VAALCO PDA PDA Exploration Play Types Boundary 57,000 acres SW Grande Marte A Marte 16-70 MMBO Atlantic Ocean Atlantic SW Grande 10-180 MMBO Venus Field 17 - 21 MMBO 2005 Venus…
  19. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 19
    2014 Capital Budget Gross VAALCO 2014 Components (Net) millions millions millions Development Construction of platforms 54 Etame Development wells 13 Facilities 187 54 Exploration wells 47 Drilling 47 13 Seismic 3 Exploration…
  20. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 20
    Sequence of Milestones Set Etame / SEENT Platforms Central Crude Sweetening Project FEED Development Drill Development Wells 3 Etame Wells 3 SEENT Wells 2 Ebouri Wells Process Angola Seismic Drill Angola Block 5 (2 wells) 1st…
  21. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 21
    VAALCO Strong Financial Position for Growth Financed by Cash Flow + Current Cash Position Financed by potential Asset + financing (Recent IFC Loan Universal Shelf Filing) Etame /SEENT Developments Central Crude Sweetening Project…
  22. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 22
    Why Invest in VAALCO Now Proven International Low Cost Operator 100% operated In 3 out of top 4 West Africa producing countries Projects on time, on budget Solid Financial Position Strong Cash Flow - stable production profile…
  23. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 23
    APPENDIX 24
  24. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 24
    Pro-forma Consolidated Balance Sheets 3/31/2014 12/31/2013 Assets Cash & cash equivalents 80,721 130,529 Restricted cash 12,989 13,196 Accounts receivables 45,512 22,230 Other current assets 7,932 2,339 PP&E, net 146,836 138,524…
  25. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 25
    Pro-forma Income Statements 3 months 12 months ended ended 3/31/2014 12/31/2013 Revenues 28,071 169,277 Operating costs and expenses (28,721) (92,052) Operating (loss) income (650) 77,225 Other expense, net (262) (38) Income tax…
  26. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 26
    EBITDAX Reconciliation 3 months 12 months ended ended 3/31/2014 12/31/2013 Revenues 28,071 169,277 Operating costs and expenses (28,721) (92,052) Operating (loss) income (650) 77,225 Depreciation, depletion and amortization 4,160…
  27. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 27
    Reserves - Etame Marin Permit 3P Reserves Proved Probable Possible Reserves Summary(1) (As of 12/31/2013) Proved 7.2 MMBO 26% Probable 3.4 MMBO 50% Possible 3.8 MMBO 24% Total Reserves 14.4 MMBO (1) Fully Engineered by…
  28. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 28
    Margin per Barrel - Etame Marin Permit Net Cash Flow Summary (/bbl) Net Cash Flow Summary (%/bbl) 2013 2013 Royalty OPEX Workovers G&A Taxes (Profit Oil) DD&A Margin 108 110 100 13% 90 39 Margin 80 DD&A 36% 70 Taxes (Profit Oil)…
  29. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 29
    Attributes of Exploration Opportunities Total unrisked mean net recoverable resource potential 700 MMBOE Angola EG Etame Attributes Block 5 Block P Marin Blocks have existing hydrocarbon (oil) discoveries Prospects are liquids prone…
  30. RBC Global Energy Conference Final – Vaalco Energy Inc. – slide 30
    Strong Financial Position 12/31/2013 Financial Position Shares Outstanding ( millions) (millions) Cash Balance 144 12/31/2013 56.9 Working Capital 122 12/31/2012 57.9 Net PP&E 139 Retained Earnings 224 2013 Financial Performance…

From the store

Browse maps, data & reports in the Shale Experts store