Geopark Ltd · NYSE:GPRK
Geopark — Non-Deal Roadshow (February 2015)
19 slides from Geopark's roadshow presentation, February 2015
Slide 1: Corporate Presentation & Outlook 2015
Corporate Presentation & Outlook 2015 February 2015
Slide 2: Disclaimer
Disclaimer The material that follows comprises information about GeoPark Limited (“GeoPark”) and its subsidiaries, In light of our Rio das Contas acquisition, we have included unaudited Pro forma condensed combined as of the date of the presentation. It has been prepared solely for informational pur
Slide 3: Strong Balance Sheet Well Positioned to Weather Oil Price Crisis
Strong Balance Sheet Well Positioned to Weather Oil Price Crisis GEOPARK IS A LEADING INDEPENDENT E&P PLAYER WITH STRONG BALANCE SHEET, LOW RISK ASSETS AND ATTRACTIVE UPSIDE POTENTIAL IN THE HIGH-GROWTH LATIN AMERICAN OIL AND GAS MARKET STRONG LIQUIDITY LONG TERM MATURING DEBT • High Cash Position o
Slide 4: 2015 Strategy and Outlook Defensive and Offensive Plan
2015 Strategy and Outlook Defensive and Offensive Plan 2014 VS. 2015 CAPEX PROGRAM ($MM) 2015 CAPEX 220-250 $35-40 MM 30 + Facilities 90 2015 CAPEX 60-70 $6-7 MM Compression Plant (Manati) 100 24 + Seismic processing 6 35 FY2014 FY2014E FY2015E 2015 CAPEX Development Exploration Facilities and Other
Slide 5: Latin American Asset Base Performance and Opportunity
Latin American Asset Base Performance and Opportunity PRODUCTION GROWTH TRACK-RECORD 25,000 10,807 CAGR ‘06– ‘14: 53% BOE/D COLOMBIA 20,557 LARGE RISK-BALANCED PROJECT INVENTORY 20,000 3,572 Production Assets: 20,557 boe/d (2014) PERU BOE/D Development Assets: 3P Reserves of 190 to 220 MMboe BRAZIL
Slide 6: Executing on Latam Oil & Gas Opportunities
Executing on Latam Oil & Gas Opportunities BRAZIL • Biggest non-associated gas field producing in Brazil with COLOMBIA stable cash flows EXPLORER • Biggest growth story in Colombia • Exploration upside in proven • New world class field discovery, onshore basins Tigana • Introduced new play concept t
Slide 7: Large Diversified Inventory of Reserves and Resources
Large Diversified Inventory of Reserves and Resources DRIVERS OF ORGANIC GROWTH 11 BLOCKS 10 BLOCKS 1.1 MM ACRES COLOMBIA • 31 blocks in 12 basins in 5 countries / 6.0 MM acres 0.3 MM ACRES • 3P reserve development opportunities: 190-220 MMboe • Exploration resource opportunities: 500 MM to 1.0 bill
Slide 8: Track-Record of Consistent Reserves Growth
Track-Record of Consistent Reserves Growth 2P RESERVES GROWTH • Strong 2P reserves growth track-record • 11% CAGR (2009-2013) in 2P reserves • Material increase expected for 2014 due to Tigana Field discovery (internal estimate of 3P 20-30 MMboe net) and Peru entry (internal estimate of 2P reserves
Slide 9: Colombia Leading E&P Story in Colombia Today
Colombia Leading E&P Story in Colombia Today • Acquired three companies in 2012 – and in 2 years, drilled 57 wells, discovered 11 new oil fields (6 VENEZUELA operated) and increased production by 4+ times PANAMA • Quickly built value by introducing new paradigms - both VIM 3 above and below the grou
Slide 10: Chile Low Risk Development and Exploration in Proven Area
Chile Low Risk Development and Exploration in Proven Area ARGENTINA • First private oil and gas producer in Chile CHILE • Large fully-operated land base across the Magallanes basin, with existing reserves, production and cash flow • New expanded acreage in TdF to replicate proven Fell 100% W.I. expl
Slide 11: Brazil Positioned to Grow and Capture Opportunities
Brazil Positioned to Grow and Capture Opportunities • Largest producing gas field in Brazil: fully-developed, cash flow producing, low-risk asset PARNAIBA BASIN • PN-T-597* • Partnership with Petrobras • Exploration blocks in proven basins • Tecpetrol partnership to acquire new projects POTIGUAR BAS
Slide 12: Peru New Country Entry / Transformational Acquisition
Peru New Country Entry / Transformational Acquisition • Large acreage position in one of most prolific basins COLOMBIA in Latin America (produced over 1 billion bbls) • Discovered oil field with opportunity to bring near term cash flow ECUADOR • Similar play-type exploration prospects mapped under 3
Slide 13: Profitable Assets Even at Low Price Scenarios
Profitable Assets Even at Low Price Scenarios ESTIMATED OPERATING NETBACK(1) @ 50 ($/BBL) ESTIMATED OPERATING NETBACK(1) @ 60 ($/BBL) 34 34 41 32 38 38 30 3 3 3 34 5 6 7 9 7 3 17 17 11 7 9 11 7 22 16 15 16 23 21 22 21 Colombia Chile Brazil Consolidated Colombia Chile Brazil Consolidated Operating Ne
Slide 14: Operational Track-Record Leads to Financial Track-Record
Operational Track-Record Leads to Financial Track-Record INCREASING SALES INCREASING CASH GENERATION REVENUES ($MM): +62% / YEAR ADJUSTED EBITDA ($MM): +60% / YEAR (CAGR ’10 – ’13) (CAGR ‘10– ’13) 387 198 193 338 348 167 250 121 63 112 80 41 2010 2011 2012 2013 2013 9M14 2010 2011 2012 2013 2013 9M1
Slide 15: In Hunt for Potential Value Dislocation Opportunities
In Hunt for Potential Value Dislocation Opportunities Finding, Closing and Building Value on New Projects • Rapid execution and investment on acquired assets • Track-record converting assets and building value Active Long-term Pipeline of Projects • Technical approach to identify opportunities in mo
Slide 16: Uniquely-Positioned Oil and Gas Investment Vehicle
Uniquely-Positioned Oil and Gas Investment Vehicle • Oil-Finding and Operating Know-How • Solid Asset Base with Cash Flow and Upside • Operational and Financial Track Record • Access to Capital • New Project Inventory & Alliances • Capital Allocation and Project Efficiencies PORTFOLIO PROVIDES SECUR
Slide 17: Appendix
Fr wy Appendix
Slide 18: Reconciliation of Adjusted EBITDA to Profit Before Income Tax
Appendix RECONCILIATION OF ADJUSTED EBITDA TO PROFIT BEFORE INCOME TAX (IN $MM) 2010 2011 2012 2013 9M14 Adjusted EBITDA 41 63 121 167 193 Depreciation -23 -26 -53 -70 -73 Accrual of Stock Awards -3 -5 -5 -9 -8 Impairment and write-off -3 -7 -26 -11 -9 Others 1 1 4 7 1 OPERATING PROFIT 13 26 41 84 1
Slide 19: Contacts
Contacts Andrés Ocampo Chief Financial Officer Pablo Ducci Capital Markets Sofía Chellew Investor Relations Santiago, Chile Nuestra Señora de los Ángeles 179, Las Condes, Santiago, Chile Phone: +(56 2) 2242 9600 Email: [email protected]