Skip to main content Investor Presentation – Pacific Rubiales Energy Corp. | Shale Experts
Loading...
Pm

Investor Presentation – Pacific Rubiales Energy Corp.

Pacific Rubiales Energy Corp. · Jun 1, 2014 · 47 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. Investor Presentation – Pacific Rubiales Energy Corp. – slide 1
    Investor Presentation JUNE 2014 TSX: PRE BVC: PREC BOVESPA: PREB11 www.pacificrubiales.com
  2. Investor Presentation – Pacific Rubiales Energy Corp. – slide 2
    Pacific Rubiales Assets n Sea N r ibbea North America Ca N N N Xan South Barranquilla Belmopan America La Democracia Cartagena Demerara (Puerto Bahia) MEXICO BELIZE ea VENEZUELA nS OLECAR XAN-PIEDRAS…
  3. Investor Presentation – Pacific Rubiales Energy Corp. – slide 3
    The Company and Assets Production Mix 7% Heavy Oil 27% 2014 L&M Oil Base Natural Gas 67% Leading Latin American focused E&P 95 E&P blocks in seven countries (32 million gross (21 million net) acres Diversified across…
  4. Investor Presentation – Pacific Rubiales Energy Corp. – slide 4
    Long-term Strategic Vision Leading (growth & value creation) Latin America focused Independent E&P Sustainable growth in production & reserves and cash generation Target growth mainly through drill bit; acquisitions where…
  5. Investor Presentation – Pacific Rubiales Energy Corp. – slide 5
    Industry Leading Production, Reserves and Financial Growth Net Production Net Reserves Mboe/d Net Production Guidance (Low) Guidance (High) MMboe P1 P2 2P 180 700 613 160 162 600 514 140 59% 148 36% 127 500 CAGR 407 224 120 CAGR…
  6. Investor Presentation – Pacific Rubiales Energy Corp. – slide 6
    Reserves Growth Feeds Future Production Net 2P Reserves Peru PMG Light Oil RESERVES AND NETBACK COMPARISON(1) Colombia Light Oil Rio Ariari CPE-6 Quifa* La Creciente & Guama Rubiales 2P RLI P1/2P Ratio Oil Netback(1) MMboe 2007…
  7. Investor Presentation – Pacific Rubiales Energy Corp. – slide 7
    2P Reserves Growth Underlines Robustness and Diversification Net 2P Reserves MMboe Rubiales Other Fields 700 600 500 400 300 200 100 56% 100% 60% 50% 28% 19% 11% 0 2007 2008 2009 2010 2011 2012 2013 13 year RLI: 2.5 x…
  8. Investor Presentation – Pacific Rubiales Energy Corp. – slide 8
    Production Forecast Provides Growth and Diversification Net Production Rubiales Other Heavy oil (low case) Other Heavy oil (high case) Mboe/d Light/Medium oil Natural Gas Risked Exploration 250 200 150 100 50 61% 54% 40%…
  9. Investor Presentation – Pacific Rubiales Energy Corp. – slide 9
    Rubiales / Quifa SW Fields An Oil Giant Discovered by Super Major in 1981. Today, holds three large producing oil fields: Rubiales, Quifa SW and Caja Very large Original Oil In Place: Rubiales: 4.6 Billion barrels Quifa: 2.8…
  10. Investor Presentation – Pacific Rubiales Energy Corp. – slide 10
    Replacement of the Rubiales Field (Base Case Forecast) Net 2P Reserves Net Production Rubiales Other Fields Rubiales Other Heavy oil (low case) Mboe/d Other Heavy oil (high case) Light/Medium oil MMboe Natural Gas Exploration 700…
  11. Investor Presentation – Pacific Rubiales Energy Corp. – slide 11
    CPE-6 Development Moving Along the Trend PRE 50% WI and operator (Talisman 50% WI partner) 25 wells in plan for 2014 (16 development, 9 exploratory) 63 MMbbl certified net 2P reserves on drilled portion of Hamaca prospect 137…
  12. Investor Presentation – Pacific Rubiales Energy Corp. – slide 12
    Rio Ariari Development Moving Along the Trend PRE 100% WI and operator Mochelo Prospect Progressing with development of Mochelo prospect 46 MMbbl certified net 2P reserves + early low case resources support 50 - 60 Mbbl/d…
  13. Investor Presentation – Pacific Rubiales Energy Corp. – slide 13
    STAR Pilot Project a Successful Demonstration Independent Engineer Evaluation RF 33% 32.4% 32% STAR Technology: opportunity to unlock 31% 30.4% additional resources 30% 29.5% 29% 28.2% Heavy oil operated assets in Colombia…
  14. Investor Presentation – Pacific Rubiales Energy Corp. – slide 14
    Light Oil Field Development Net Production Colombia Mboe/d Light / Medium oil Risked Exploration 80 Light Colombia oil provides secure lower 70 cost diluent source 60 50 40 86 MMbbl Net 2P reserves light / medium 30 20 La…
  15. Investor Presentation – Pacific Rubiales Energy Corp. – slide 15
    Organic Growth Through the Drill Bit Net 2P Reserves Exploration Net 2P Reserves Total Net 2P Reserves % Company is focused on organic reserves MMboe % Incorporated by Exploration Exploration and production growth 700 100% 94%…
  16. Investor Presentation – Pacific Rubiales Energy Corp. – slide 16
    Strategic M&A Provides Elements Unavailable Organically COLOMBIA M&A ACQUISITIONS Net 2P Net Cost Acquisition Reserves Production /2Pbbl M/bbl/d (B) (MMbbl) (Mbbl/d) PetroMagdalena (Mid 2012) 0.2 16.6 3 14 71 C&C (Late 2012)…
  17. Investor Presentation – Pacific Rubiales Energy Corp. – slide 17
    Light Oil from M&A Provides Less Expensive Diluent 1 2 IMPORTED OWN LIGHT DISTILLATE OIL PRODUCTION (PRE-2013) (2013 Forward) Blending ratio: Blending ratio: 1 1.5 bbl / 10 bbl oil 2 3 bbl / 10 bbl oil production production…
  18. Investor Presentation – Pacific Rubiales Energy Corp. – slide 18
    Adding Additional Value Through Early Infrastructure Investment Company makes early first mover investments in infrastructure to control the pace and timing of critical oilfield developments Major Midstream Assets: ODL (35% WI)…
  19. Investor Presentation – Pacific Rubiales Energy Corp. – slide 19
    Bicentenario Pipeline Provides Additional Link to Export Markets Project Description Phase 1: 226 km long x 42 pipeline connecting Araguaney to Banadia (Cao Limn Pipeline) Capacity: up to 600,000 bbl/d Operational on November…
  20. Investor Presentation – Pacific Rubiales Energy Corp. – slide 20
    Petroelctrica de los Llanos Strategic Asset for Llanos Development Project Description 260 km, 230 kV powerline from Chivor to Rubiales 550 transmission towers 2 substations to supply power to ODL pipeline boosters 192 MW initial…
  21. Investor Presentation – Pacific Rubiales Energy Corp. – slide 21
    Pacific Infrastructure A New Doorway to the Market Puerto Baha (41.4% WI) Natural deep water port 3.3 MMbbl storage in two phases Total Capex: 570 MM; 70% project financed First operations by 3Q14 OLECAR (50.0% WI) 130 km…
  22. Investor Presentation – Pacific Rubiales Energy Corp. – slide 22
    Pacific Midstream Monetization of Infrastructure Assets OCENSA transaction successfully closed during the quarter (385 MM) Pacific Midstream Assets: PEL (100%) ODL (35%) BIC (41.5%) IFC non-binding appraisal letter agreement…
  23. Investor Presentation – Pacific Rubiales Energy Corp. – slide 23
    Caribbean Floating LNG Worlds First Floating LNG Facility Gas Pipeline 88 km x 18 gas pipeline Capacity: 100 MMcf/d 3 km subsea line to offshore jetty Capex pipeline + jetty: 210 MM 70% project financed Permits ongoing…
  24. Investor Presentation – Pacific Rubiales Energy Corp. – slide 24
    Agrocascada Share Value with Communities Sustainable alternative for water disposal Provides a new source of water resource for agroindustrial projects Share value with communities Agricultural developments Local employment…
  25. Investor Presentation – Pacific Rubiales Energy Corp. – slide 25
    Exploration Opportunities PRE Total Acres 33.4 MM Gross 24.5 MM Net 95 60 Assets Exploration 304 193 Prospects* 107 Leads* E&P Opportunities ASSETS Activity 4 Contingent R. * Management estimates 24
  26. Investor Presentation – Pacific Rubiales Energy Corp. – slide 26
    1Q 2014 Exploration Activity - Wells 2014 1Q 2014 Exploration Well Results Block Wells 1Q 2Q 3Q 4Q Arrendajo 2 2 Prospect-Well Net Pay Block Welll Type Result Name (ft)* CPE-6 15 6 3 6 CPO-14 2 2 5 Successful CPE-6 Hamaca 6…
  27. Investor Presentation – Pacific Rubiales Energy Corp. – slide 27
    Peru 131 Block Los Angeles Discovery Los Angeles 1X discovery well indicated the presence of 62 ft. of net pay in the Cretaceous Cushabatay formation Well production rate up to 2,940 bbl/d of 45 API with no water cut Well…
  28. Investor Presentation – Pacific Rubiales Energy Corp. – slide 28
    Brazil Santos Basin Resource Diversification Kangaroo-1 and Bilby-1 exploration wells, drilled to a total depth of 10,004 ft. MD and 14,489 ft. MD, encountering an oil pay oil bearing column 58 ft. and 230 ft., respectively…
  29. Investor Presentation – Pacific Rubiales Energy Corp. – slide 29
    Capital Expenditures 2014 Net Capital Program Historical Capex MM 2008 2009 2010 2011 2012 2013 2014E 1,000 11% 23% Production facilities 800 2.5 Exploration activities 600 38% Billion Development drilling 400 28% Other…
  30. Investor Presentation – Pacific Rubiales Energy Corp. – slide 30
    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 financial results Our practices contribute to…
  31. Investor Presentation – Pacific Rubiales Energy Corp. – slide 31
    Pacific Rubiales Advantage 1 Sustainable Cash Flow and Strong Netbacks Cash flow to invest in large development and exploration portfolio Self funded growth from internally generated cash flow Production linked to international…
  32. Investor Presentation – Pacific Rubiales Energy Corp. – slide 32
    ADDITIONAL INFORMATION 30
  33. Investor Presentation – Pacific Rubiales Energy Corp. – slide 33
    Sub-Andean Basins in Latin America Massive Hydrocarbon Resources One of the great oil-rich hydrocarbon trends in the world. Sharing similar geologic and petroleum systems Runs from Trinidad through Venezuela, Colombia, Ecuador and…
  34. Investor Presentation – Pacific Rubiales Energy Corp. – slide 34
    PRE as the Main Engine in Colombias Production Growth Light/Medium Oil Fields (Other) Heavy Oil Fields (Other) Light/Medium Oil Fields (PRE) Heavy Oil Fields (PRE) Mbbl/d 1,200 Large Light Fiscal & 1,000 Oil Field Regulatory…
  35. Investor Presentation – Pacific Rubiales Energy Corp. – slide 35
    CPE-6 Block Development Plans Project Phases Phase 1: 8 Mbbl/d (Jun-14) Phase 2: 10 Mbbl/d additional (Dec-14) Phase 3: 15 - 25 Mbbl/d additional (Dec-15) Phase 4: 15 - 25 Mbbl/d additional (Dec-16) Estimated Capex: 1.5 - 2.0…
  36. Investor Presentation – Pacific Rubiales Energy Corp. – slide 36
    Rio Ariari Block Development Plans Project Phases Early production facilities Phase 1: 12 Mbbl/d (Dec-14) Phase 2: 25 - 35 Mbbl/d additional (Dec-16) Estimated Capex: 1.2 - 1.7 Billion Mochelo South Current Project Status…
  37. Investor Presentation – Pacific Rubiales Energy Corp. – slide 37
    PRE Pipelines Capacities Pipeline Capacity* 1. Oleoducto de los Llanos (ODL): 119,000 bbl/d 2. OCENSA: 100,750 bbl/d (18 - 24API) BICENTENARIO: 47,334 bbl/d (24API) 3. Oleoducto Guaduas la Dorada (OGD): 38,000 bbl/d 4.…
  38. Investor Presentation – Pacific Rubiales Energy Corp. – slide 38
    2013 Oil Exports 2013 2012 WTI Nymex 98.1 WTI Differential 94.2 WTI Differential ICE BRENT 108.7 -10.6 111.9 -17.7 Region Price /bbl Volume MMbbl Price /bbl Volume MMbbl USA 99.8 16.8 101.3 10.1 Europe / Asia / Africa 98.8 20.4…
  39. Investor Presentation – Pacific Rubiales Energy Corp. – slide 39
    1Q 2014 Highlights* 148,827 Boe/d Net Produc4on: 16% higher vs. 1Q 2013 152,847 Boe/d Sales Volume: 6% higher vs. 1Q and 4Q 2013 1,283 Million Revenue: 2% higher vs. 1Q 2013 708 Million Adjusted EBITDA: 14%…
  40. Investor Presentation – Pacific Rubiales Energy Corp. – slide 40
    Production Growth Profile Previous PAP volumes fully seLled; these volumes will now be available for sale 38
  41. Investor Presentation – Pacific Rubiales Energy Corp. – slide 41
    Operational Efficiency Robust Oil Netbacks /bbl Total Operating Cost Netback Realization Price 120 102.06 103.00 99.05 98.44 100 95.84 95.54 Despite variations in oil realization price, netbacks remain strong 38.72 37.27…
  42. Investor Presentation – Pacific Rubiales Energy Corp. – slide 42
    1Q 2014 Financial Highlights Financial Results Operating Netbacks ADJUSTED EARNINGS FROM Million /boe Oil Netback Gas Netback Combined Netback REVENUES EBITDA FFO OPERATIONS 1,400 80 1,283 1,259 70 66.98 1,200 63.34 63.80…
  43. Investor Presentation – Pacific Rubiales Energy Corp. – slide 43
    1Q 2014 Financial Results Breakdown Million 1,283 471 Cash Costs Non-Cash Costs 29 75 708 61 149 498 376 474 2 2 118 1 119 Revenues Operating Fees Paid on G&A Adjusted Finance Income tax Cash Flow DD&A Foreign…
  44. Investor Presentation – Pacific Rubiales Energy Corp. – slide 44
    Strong Balance Sheet, Liquidity Ratios and Production Growth Millions (except amount per share) 2014 2013 1Q FY 4Q 3Q 2Q 1Q DEBT / ADJUSTED EBITDA-ANNUALIZED 1.61 1.73 1.73 0.91 0.90 0.90 ADJUSTED EBITDA / FINANCE…
  45. Investor Presentation – Pacific Rubiales Energy Corp. – slide 45
    Debt Overview Current Debt Maturity Profile(1) Debt/Adjusted EBITDA Banks 1,282 2.1x 965 990 1.7x 1.4x Bonds 0.8x 291 0.6x 0.6x 0.5x 36 36 82 2014 2016 2017 2018 2019 2020 2021 2022 2023 2024…
  46. Investor Presentation – Pacific Rubiales Energy Corp. – slide 46
    Balance Growth with Returns Dividend Distribution MM Dividends paid % from CFO* 250 20% Dividend distribution 200 15% 150 Discretionary 10% 100 Consistently paid and increased 5% dividend since 2010 50 0 0% Dividend yield…
  47. Investor Presentation – Pacific Rubiales Energy Corp. – slide 47
    Investor Relations Contacts Christopher LeGallais Senior VP, Investor Relations clegallaispacificrubiales.com +1 (647) 2953700 Roberto Puente Senior Manager, Investor Relations rpuentepacificrubiales.com +57 (1) 5112298 Kate…

From the store

Browse maps, data & reports in the Shale Experts store