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May 2014
Performance and Opportunity
Legal Disclaimer
2
The material that follows comprises information about GeoPark Limited (“GeoPark”) and its subsidiaries, as of the date of the presentation. It has been prepared solely for informational purposes and should not be treated as giving legal, tax, investment or other advice to potential investors. The information presented or contained herein is in summary form and does not purport to be complete.
No representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness, or completeness of this information. Neither GeoPark nor any of its affiliates, advisers or representatives accepts any responsibility whatsoever for any loss or damage arising from any information presented or contained in this presentation. The information presented or contained in this presentation is current as of the date hereof and is subject to change without notice, and its accuracy is not guaranteed. Neither GeoPark nor any of its affiliates, advisers or representatives makes any undertaking to update any such information subsequent to the date hereof.
This confidential presentation contains forward-looking statements, which are based upon GeoPark and/or its management’s current expectations and projections about future events. When used in this presentation, the words “believe,” “anticipate,” “intend,” “estimate,” “expect,” “should,” “may” and similar expressions, or the negative of such words and expressions, are intended to identify forward-looking statements, although not all forward-looking statements contain such words or expressions. Additionally, all information, other than historical facts included in this presentation, regarding strategy, future operations, drilling plans, estimated reserves, future production, estimated capital expenditures, projected costs, the potential of drilling prospects and other plans and objectives of management is forward-looking information. Such statements and information are subject to a number of risks, uncertainties and assumptions. Forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated due to many factors, including oil and natural gas prices, industry conditions, drilling results, uncertainties in estimating reserves, availability and cost of drilling rigs, production equipment, supplies, personnel and oil field services, availability of capital resources and other factors. As for forward-looking statements that relate to future financial results and other projections, actual results may be different due to the inherent uncertainty of estimates, forecasts and projections. Because of these uncertainties, potential investors should not rely on these forward-looking statements. Neither GeoPark nor any of its affiliates, directors, officers, agents or employees, nor any of the shareholders or under shall be liable, in any event, before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this presentation or for any consequential, special or similar damages.
In light of our Colombian acquisitions and our Rio das Contas acquisition, we have included unaudited Pro forma condensed combined financial data to illustrate the combined results of operations for GeoPark for the year ended December 31, 2012 to give Pro forma effect to the acquisitions of Winchester, Luna, Cuerva and Rio das Contas and to the disposition of the 20% equity interest in GeoPark Colombia as if such transactions had occurred as of January 1, 2012; the combined results of operations for GeoPark for the year ended December 31, 2013 to give Pro forma effect to the acquisition of Rio das Contas as if such acquisition had occurred as of January 1, 2012; and the combined statement of financial position for GeoPark as of December 31, 2013 to give Pro forma effect to the acquisition of Rio das Contas as if such acquisition had occurred as of December 31, 2013.
The information included in this presentation regarding estimated quantities of proved reserves, the future net revenues from those reserves and their present value in Chile, Colombia and Argentina as of December 31, 2013; and estimated quantities of proved reserves, the future net revenues from those reserves and their present value for certain new discoveries in Colombia made since December 31,
2012, are derived, in part, from the reports prepared by DeGolyer and MacNaughton, or D&M, independent reserves engineers. Certain reserves data, such as those based on the D&M report, were prepared under SEC standards, and certain other data were prepared under Petroleum Resources
Management System (PRMS) standards.
Certain data in this presentation was obtained from various external sources, and neither GeoPark nor its affiliates, advisers or representatives has verified such data with independent sources. Accordingly, neither GeoPark nor any of its affiliates, advisers or representatives makes any representations as to the accuracy or completeness of that data, and such data involves risks and uncertainties and is subject to change based on various factors.
This presentation contains a discussion of Adjusted EBITDA, which is not an IFRS measure. We define Adjusted EBITDA as profit for the period before net finance cost, income tax, depreciation, amortization and and certain non-cash items such as impairments and write-offs of unsuccessful exploration and evaluation assets, accrual of stock options and stock awards and bargain purchase gain on acquisition of subsidiaries. Adjusted EBITDA is included in this presentation because it is a measure of our operating performance and our management believes that Adjusted EBITDA is useful to investors because it is frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies in industries similar to ours. Adjusted EBITDA should not be considered a substitute for financial information presented or prepared in accordance with IFRS. Adjusted EBITDA, as determined and measured by us, should also not be compared to similarly titled measures reported by other companies.
Rounding amounts and percentages: Certain amounts and percentages included in this document have been rounded for ease of presentation. Percentage figures included in this document have not in all cases been calculated on the basis of such rounded figures but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this document may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this document may not sum due to rounding.
ASSETS Diversified Risk-Balanced Asset Base with Proven Value, Scale and Upside
3
A Growth Company
GEOPARK IS A LEADING INDEPENDENT E&P PLAYER WITH RISK-BALANCED ASSETS AND
ATTRACTIVE UPSIDE POTENTIAL IN THE HIGH-GROWTH LATIN AMERICAN OIL AND GAS MARKET
CAPITAL Supporting Cash Flow, Access to Funding and Strategic Partners
GROWTH High-Impact Portfolio of Organic and New Project Opportunities
CONSOLIDATOR OPERATOR
RISK MANAGEMENT
CULTURE
EXPLORER
KNOW-HOW Strong Team, Capabilities, Approach and Culture
TRACK-RECORD Consistent Operational and Financial Growth / Ability to Unlock Value from Unexploited and Underperforming Assets
47%
14%
40%
COLOMBIA
ARGENTINA
CHILE
BRAZIL
PERU
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
2006 2007 2008 2009 2010 2011 2012 2013
Avera
ge D
aily P
rod
ucti
on
(b
oe/d
)
Oil Gas
OPERATIONAL AND
FINANCIAL TRACK-RECORD
Performance, Scale and Upside
4
Unconventional Resource Assets ´
Production Assets
Exploration Assets
Development Assets
29 RISK-BALANCED BLOCKS
IN 10 PROVEN HYDROCARBON BASINS
Chile Colombia Brazil
Proved Reserves1
29.1 MMboe
PRODUCTION, RESERVES AND CASH FLOW
NEW GROWTH OPPORTUNITIES
New Projects Opportunities
Where We Are Today
Adj. EBITDA
$198 MM
41%
38%
21%
2013 Production
17,098 boepd
1 PRMS – Dec. 2013
38% 29%
33%
ARGENTINA
G. Hinterwimmer COLOMBIA
M. Vaca
5
Team Experience and Depth in Building Value
SHAREHOLDERS
BOARD OF DIRECTORS
DEVELOPMENT C. Murut
ADMINISTRATION AND FINANCE
G. Portnoi
EXPLORATION S. Minniti
SAFETY ENVIRONMENT
R. Marconi
DRILLING H. Fontana
CAPITAL MARKETS AND INVESTOR
RELATIONS P. Ducci
OPERATIONS J. Díaz
PEOPLE A. Wisky
• Experienced and strong technical and operations-focused team and approach
• Track record of finding oil and gas and converting unexploited assets into successful
projects
• Core G&G team from Chevron San Jorge with 700+ million barrels oil discovered in
the region and 25+ years working together
• Licensed operator in 4 countries with track-record of safe and clean operations, and
compliance with IFC standards
• Organization built and designed for future growth
• Successful in retaining management and operating personnel from new acquisitions
• All employees participate in the long-term incentive program / low staff turnover /
aligned management
CEO J. Park
GOVERNANCE P. Aylwin
FINANCE A. Ocampo
OPERATIONS A. Zubillaga
CHILE S. Harambour
BRAZIL D. Coelho
0.0
2.0
4.0
6.0
8.0
10.0
2006 2007 2008 2009 2010 2011 2012 2013
Oil (bbl/d) Gas (boe/d)
A R G E N T I N A
C H I L E Fell
100% W.I.
Otway
Flamenco
50% W.I.
Campanario
50% W.I.
Isla Norte
60% W.I.
Tranquilo
22% W.I.
Otway
100% W.I.
RIO GALLEGOS
PUNTA ARENAS
METHANEX PLANT
PUERTO NATALES
POSESION PLANT
BAHIA GREGORIO
TERMINAL
TIERRA DEL FUEGO
OPERATIONAL & FINANCIAL HIGHLIGHTS
Highlights
• Largest oil producer in Chile and private sector
pioneer
• 6 blocks – all operated by GeoPark
• Stable reserves and cash flow from Fell Block
(100% WI) – balanced with new exploration
acreage in Tierra del Fuego
• > 85% of acreage covered with 3D seismic
• LGI acquired 20% of Chile business plus a 14%
interest in Tierra del Fuego for $148 million in 2011
Infrastructure and Transport
• Easy access and attractive working environment
• Oil transported by truck to ENAP Gregorio facility
• Gas transported to Methanex through ENAP gas
pipelines (transport cost paid by Methanex)
• More than 1,000 km of oil and gas pipelines in the
region
2014 Work Program and CAPEX: $140-$155 MM
• 32-37 wells
• Over 200 km2 Seismic 3D (Catalina Calafate)
• New facilities
Fiscal Terms
• 5% royalty for oil; 3-5% royalty for gas
• 15%-17% income tax
Leading Private Chilean Oil and Gas Producer and Explorer
CHILE NETBACK ($/BOE)* PRODUCTION HISTORY (IN MBOE/D)
* Netback ($/boe) calculated as Adj. EBITDA divided by total production in boe
6
11.0 MMboe
45.1 MMboe
1.0 MM acres
6,962 boepd
17.7 years
P1 Reserves¹
2P Reserves2
Acreage
2013 Production
2P R/P3
1 PRMS D&M – Dec. 2013 2 PRMS D&M - Dec. 2013 3 Considering 2013 Production
31 40
53
62
20 26
33
38
2010 2011 2012 2013
Average Price Netback/boe
7
T O B I F E R A SHALLOW & DEEP TOBIFERA
PROJECTS
LOWER TERTIARY
SPRINGHILL
SHALE OIL PROJECT
UPPER TERTIARY GLAUCONITIC PROJECT
SHALLOW TERTIARY PROJECT
MAGALLANES BASIN: IDENTIFIED PETROLEUM SYSTEMS
GeoPark Oil and Gas Discovered Fields
Current Producing Reservoirs
Potential Reservoirs
3D Seismic Outlines Exploration Prospects
Chile Continuous Expansion Multiple Play-Type Opportunities
FELL BLOCK
Cerro Iturbe
discovered 2010
Konawentru
discovered
2011
Alakaluf
discovered
2008
Guanaco
discovered
2010
Yagan / Yagan
Norte discovered
2008
Aonikenk
discovered 2008
Santiago Norte
discovered 2007
Molino
discovered 2013
Kiuaku
discovered 2012
13Km2
Blocks:
1- Isla Norte
2- Campanario
3- Flamenco
1
2
3
TIERRA
DEL FUEGO
Omeling
discovered 2013
Chercan
discovered 2013
PROJECT / PROSPECT
OPPORTUNITY INVENTORY
RIS
K
TIME
Fell + TdF (Springhill / Tobifera)
Fell + TdF (Glauconitic / Tobifera)
Fell + TdF (Shale Oil)
3P Reserves
Tranquilo + Otway (Tertiary)
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13
Gross Operated Total Net
RIOHACHA
MAICAO
VALLEDUPAR
SANTA MARTA
BARRANQUILLA
CARTAGENA
MONTERIA
DOSQUEBRADAS
ARMENIA
TULUA
PALMIRACALI
NEIVA
BUENAVENTURA
POPAYAN
PITALITO
FLORENCIA
SAN JUAN DE PASTO
TUMACO
IPIALES
SAN J. DEL GUAVIARE
VAUPES
CINCELEJO
CUCUTA
ARAUCA
BUCARAMANGABARRANCABERMEJA
AMALFI
DUITAMA
SOGAMOSO
YOPAL
TUNJA
BOGOTA
VILLAVICENCIOPUERTO LOPEZ
ACACIAS
MANIZALES
MEDELLIN
IBAGUE
INIRIDA
LA DORADA
CERRITO
YAMU
LLANOS 17
JAGÜEYES
LA CUERVA
LLANOS 62
ARRENDAJO
LLANOS 32
LLANOS 34
ABANICO
VENEZUELA
NON OPERATED
OPERATED
COLOMBIA NETBACK ($/BOE)**
* 2012 / 2013 Change due to wellhead sale
Highlights
• Entered Colombia in 1Q12 through the acquisitions of
Winchester, Luna and Cuerva companies
• Retained management team and applied technical
expertise from Argentina / Chile operations
• Acquired a balanced portfolio with reserves, production and
exploration upside
• Since acquisition, discovered 6 new oil fields including a
new play concept for the basin, and increased production
by 4+ times
• Operates 4 out of 10 blocks (92% of production)
• Partnered with LGI in 2012 for 20% of Colombia business
Infrastructure and Transport
• Oil transported by truck or sold at wellhead
• Transportation system currently with bottlenecks
• 13-31 degrees API gravity oil
2014 Work Program and CAPEX: $70-$80 MM
• 17-20 new wells
• New facilities
Fiscal Terms
• 8% royalty for oil
• 33% income tax
PRODUCTION HISTORY (IN MBOE/D)
Successful Entry to the Competitive Colombian Market
** Netback ($/boe) calculated as Adj. EBITDA divided by total production in boe
8
OPERATIONAL & FINANCIAL HIGHLIGHTS
P1 Reserves1
2P Reserves2
Acreage
2013 Production
2P R/P3
9.6 MMboe
16.5 MMboe
0.6 MM acres
6,491 boepd
7.0 years
¹ PRMS D&M 2013 Report 2 PRMS D&M 2013 Report 3 Considering 2013 Production
97
76
34 35
2012 2013
Average Price Netback/boe
9
New Discovered Colombia Oilfields Development and Exploration
TUA AND
TAROTARO
FIELDS TIGANA FIELD MAX FIELD CORCEL FIELD
MIRADOR +
GUADALUPE Fms
BASEMENT
TERTIARY
QUATERNARY
W E
Area of Interest
New 3D Seismic Area
Llanos 34 Block
(Pacific Rubiales)
RIS
K
PROJECT / PROSPECT
OPPORTUNITY INVENTORY
TIME
La Cuerva / Yamu /
Llanos 34 / Llanos 62
Arrendajo / Llanos 32 /
Llanos 17
Llanos 34
3P Reserves
ARUCO FIELD
New 3D Seismic Area (249 km2)
Llanos 34
GeoPark Operated
Oil Fields 3D Seismic Program Exploration Prospects
Jacana
Prospect
Tilo
Prospect
Zamuro
Prospect
Tigana Sur
Field discovered
Dec. 2013
Tigana
Field discovered
Dec. 2013
Tigana Norte
Prospect
Tarotaro
Field discovered
June 2013
Aruco Field
Discovered
Dec 2013 Mochuelo
Prospect
Max Field discovered
May 2012
Tua Field
discovered
June 2012
0.0
1.0
2.0
3.0
4.0
5.0
1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13
Milla
res
Oil Gas
¹ PRMS D&M - Dec. 2013 2 PRMS D&M - Dec. 2013 3 Considering 2013 Production
OPERATIONAL & FINANCIAL HIGHLIGHTS
P1 Reserves¹
2P Reserves2
Acreage
2013 Production
2P R/P3
8.5 MMboe
8.6 MMboe
0.3 MM acres
3,580 boepd
6.6 years
PRODUCTION HISTORY (IN MBOE/D) BRAZIL NETBACK ($/BOE)*
Highlights
• E&P activity traditionally dominated by NOC Petrobras, which is moving
focus to offshore pre-salt
• Built an experienced local technical and management team
• Acquired from Panoro Energy a 10% non-operated interest in Manati, the
largest non-associated gas field producing in Brazil, operated by
Petrobras
• Obtained seven exploratory blocks in Potiguar and Reconcavo basins,
through Brazilian ANP’s Round 11 held in May 2013
• Obtained two exploratory blocks in Sergipe Alagoas and Parnaiba basins
through Brazilian ANP’s Round 12 held in November 2013
• Signed a strategic partnership with Tecpetrol in September 2013 to jointly
study and acquire projects in Brazil
Infrastructure and Transport
• Onshore / offshore pipeline in place
• Onshore gas processing plant in place
• Compression facilities underway
2014 Work Program and CAPEX: $10-$15 MM
• 2D and 3D seismic
• New facilities
Fiscal Terms
• 7.5% royalty in Manati (gas, oil and condensate)
• 10% royalty for Round 11 and 12 Blocks
RECONCAVO BASIN
• REC-T 94
• REC-T 85
POTIGUAR BASIN
• POT-T 664
• POT-T 665
• POT-T 619
• POT-T 620
• POT-T 663
CAMAMU-ALMADA
• BCAM-40 (Manati)
Strategic Entrance into Brazil: Production and Exploratory Upside
PARNAIBA BASIN
• PN-T-597 SERGIPE ALAGOAS
• SEAL-T-268
* Netback ($/boe) calculated as Adj. EBITDA divided by total production in boe
10
42 40
29 24
2012 2013
Gas Price Netback
MANATI
BLOCK
BASEMENT
11
PROJECT / PROSPECT
OPPORTUNITY INVENTORY
RIS
K
TIME
Reconcavo Sergipe-Alagoas Potiguar
Parnaiba
3P Reserves
JURASSIC & CRETACEOUS
DEVONIAN SOURCE
ROCK PIMENTERAS Fm
RECONCAVO, POTIGUAR & SERGIPE-ALAGOAS
(Onshore Rift Basins) CAMAMU-ALMADA
(Offshore Rift Basin) AÇU FM
(Potiguar Basin)
POJUCA & SERGI FMS
(Potiguar Basin)
SERRARIA FM
(Sergipe-Alagoas Basin)
MANATI GAS FIELD
(Camamu / Almada Basin)
PARNAIBA
(Intracratonic Paleozoic Basin)
New Platform in Brazil Development and Onshore Exploration
San Francisco
Gas Plant
Gas
Pipeline
Gas Fields
12
• In-house designed and integrated program – fundamental to our
business and culture – to enhance and protect our shareholders,
employees, environment and communities
• Supports our long-term business plan and key measure of
success
• Necessary element to effectively compete in international resource
business and has been responsible for our success and growth to
date
• S.P.E.E.D. has been developed in accordance with:
- ISO 14,001 for environmental management issues
- OSHAS 18,001 for occupational health and safety
management issues
- SA 8000 for social accountability and worker rights issues
- Development Standards of the World Bank
- Quoted Companies Alliance standards for good corporate
governance
IFC
• Long term investor in the Company
• Member of the World Bank Group
• Strong support in environmental, compliance and safety standards
S.P.E.E.D.
GeoPark Approach Who We Are
47%
53%
Oil Gas
41%
38%
21%
2013 Avg. Production
13
P1 Reserves¹
GEOGRAPHICAL AND RISK PROFILE DIVERSIFICATION ADVANTAGE
Risk-Balanced Portfolio
Adjusted EBITDA²
Investment Grade Countries and Market
Chile Colombia Brazil
29.1 MMboe $198 MM 17,098 boepd
47%
14%
40%
38% 29%
33%
1 2013 PRMS 2 2013 Pro forma
9%
13%
31%
46%
Aa3/AA+/ AA-
Baa3/BBB+/BBB+
Baa2/BBB/BBB
LOW-RISK COUNTRIES HIGH DEGREE OF P1
CONTRACTED GAS RESERVES3
100%
74%
TOP NOTCH CLIENTS Revenue Breakdown by Client4:
3 Contracted gas production over 1P gas
reserves as of Dec. 2013
40%
13% 11%
29%
7%
Others
Total Reserves1
PUD
RESERVE RISK DIVERSIFICATION
PD
P2
P3
131 MMboe
P1 Reserves1
29.1 MMboe
1 2013 under PRMS standard
4 Pro forma as of Dec. 2013
10.9 16.2 16.9
27.8 28.0 34.1
31.3
33.4 32.6
29.1
39.6 36.2
42.2
49.6 49.5
56.9
2009 2010 2011 2012 2012Pro forma
2013
Oil Gas
19% 28% 33%
66%
82%
65%
2009 2010 2011 2012 2013 2013Pro forma
% Oil % Gas
1.2 1.9 2.5
7.5
11.1 11.2
5.1 5.0
5.1
3.8
2.4
5.9
2009 2010 2011 2012 2013 2013Pro forma
Oil Gas
Sustainable Growth
14
2P RESERVES GROWTH (MMBOE)1 PRODUCTION GROWTH (MBOED)
DRILLING SUCCESS
# Drilled Wells (2006-2013) 152
# Productive Wells 106
# Non-Productive Wells 46
Success Rate 70%
¹Reserves under PRMS standard 2Ratio calculated with 2P PRMS reserves 3Ratio calculated using reserves as of Dec. 2013
INCREASING OIL PARTICIPATION
67.6
R/P2
Years 18.3 19.5 17.9 13.8 11.5
Operational Track-Record
70.3
11.33
80 112
250
325
250
338
387
2010 2011 2012 2012Pro forma
2012 2013 2013Pro forma
8
16
23
31 35
32
2009 2010 2011 2012 2013 2013Pro forma
19
32
45
69 74 66
2009 2010 2011 2012 2013 2013Pro forma
41
63
121
169
121
167
198
2010 2011 2012 2012Pro forma
2012 2013 2013Pro forma
15
REVENUE ($MM) ADJUSTED EBITDA ($MM)
ADJUSTED EBITDA ($/BOE)
Financial Track-Record
35%
55%
38%
63%
REVENUE ($/BOE)
Pro forma figures: acquired 2 companies in Colombia in 1Q12 and the 10% interest in the Manati Field in 1Q14.
Pro forma figures: assume as if both acquisitions have occurred in January 2012.
39 56 95 142 139
161 82
140
2009 2010 2011 2012(*) 2013Pro forma(**)
Chile Colombia Brazil Other
303
317
3.4x
4.1x
2.6x
1.6x 1.9x 2.0x
2009 2010 2011 2012 2013 2013Pro forma
21 31
69
132
163
132 140
165
2009 2010 2011 2012 2012Pro forma
2012 2013 2013Pro forma
16
Solid Credit Metrics and Growth Capacity
* $105 MM acquisition cost of Colombia operations
** $140 MM acquisition of Brazil operations
2014 CHILE CAPEX PLAN ($MM)
Total 140-155
Development 50%
Exploration 40%
Facilities and Other 10%
# Wells 32-37
2014 COLOMBIA CAPEX PLAN ($MM)
Total 70-80
Development 45%
Exploration 30%
Facilities and Other 25%
# Wells 18-23
2014 BRAZIL CAPEX PLAN ($MM)
Total 10-15
Development
Exploration 60%
Facilities and Other 40%
# Wells -
OPERATING CASH FLOW ($MM)
Covenant: <2.75x
LEVERAGE1: GROSS DEBT / ADJUSTED EBITDA
CAPEX AND ACQUISITIONS ($MM)
1 Ratio calculated as current plus non current borrowings / Adj. EBITDA
106 106 106 106 106
148 168 186 78
211
211 249
549
2009 2010 2011 2012 2013
Equity Strategic Partners Financial Debt
Equity Funding
• AIM Listing - $30 MM (2006)
• NYSE Listing - $98 MM, February 7, 2014.
• AIM De-Listing - February 19, 2014
17
DIVERSIFIED SOURCES OF FUNDING ($MM, CUMULATIVE)
Diversified Funding Sources
Financial Debt 2013 Pro forma: $388 MM
Cash Position 2013 Pro forma: $60 MM
Ability to Attract Capital
Strategic Partnerships
International Bond Market
• Reg S Bond - $133 MM (2010)
• 144A/Reg S Bond - $300 MM (2013)
Multilateral Banking Institutions
Client Prepayment Facilities
Commercial Bank Lending
841
18
Track-Record of Successful Acquisitions and Execution
Brazil Acquisitions
- Acquired a platform to access the
immense Brazilian oil and gas potential
- Low-risk fully-developed and cash flow
generating asset, Manati Field
- 9 new exploration blocks in most prolific
onshore basins
- Manati acquisition and Round 12 blocks
are subject to ANP approval
Colombia Acquisitions
- Acquired 3 companies which combined
existing production, reserves and
exploration upside
- Successful merger and integration of 4
companies (approx. 2,900 to 7,700
boepd in 20 months)
- Hit-the-ground running and discovered 6
new oilfields and increased gross
production by 4+ times
Chile Acquisition
- Incorporated 3 new exploration blocks
in Tierra del Fuego
- Opportunity to replicate successful Fell
Block exploration and development
model (zero to 8,000 boepd)
- Registered over 1,200 km2 of 3D
seismic and commenced drilling
program
RECENT ACQUISITIONS: EXECUTING TO RAPIDLY CONVERT ASSETS AND BUILD VALUE
2011 - 2012 2012 2013
19
Use of Proceeds: Step Change Growth
Positioned as Consolidator
• INVENTORY OF OPPORTUNITIES
- Many areas are misfit for major companies or NOCs which dominate the region
leaving opening for an agile independent E&P player
- Technical approach to identify opportunities in most prolific basins in the region
- Active long-term pipeline of multiple projects being followed simultaneously
• TARGETED APPROACH
- Main Countries: Chile, Colombia, Brazil and Peru
- Production and 2P reserves development
- GeoPark operated (preferred)
- Attractive and achievable exploration potential
- Underperforming assets or value dislocations which can be improved by superior
geoscience, operational, and financial management and/or new capital investment
- High optionality: cost relative to potential upside
• STRATEGIC ALLIANCES
- LGI: side-by-side acquisitions across Latin America
- Tecpetrol (Techint Group): strategic alliance in Brazil
- World Bank IFC: key shareholder and partner for capital and growth
Investment Case
20
Value Drivers
• 6 acquisitions in 3 years
• LG Strategic Alliance
• Inventory of multiple new projects
• $198 MM Adj. EBITDA in 2013
• $1,000+ MM capital raised
• IFC Shareholder
• Deep oil and gas experience
• 70% drilling success
• 100% employees participate in
long-term incentive plan
Know-How
• 4 countries / 10 basins / 29 blocks
• 17,098 boe/d production 2013
• 3P PRMS of 131 MMboe: $2.3 Bn
Assets
• 35% Production CAGR (10-13)
• 69% Adj. EBITDA CAGR (10-13)
• 26% Netback CAGR (10-13)
Track
Record
Capital
Growth
Platform
Contacts
Andrés Ocampo
Chief Financial Officer
Pablo Ducci
Capital Markets
Sofia Chellew
Investor Relations
Santiago, Chile
Nuestra Señora de los Ángeles 179,
Las Condes, Santiago, Chile
Phone: +(56 2) 2242 9600
Email: [email protected]
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