Brava Energia Sa · BMFBOVESPA:BRAV3
Brava Energia Sa — Q4 2020 Earnings Presentation
14 slides from Brava Energia Sa's earnings presentation, Apr 1, 2021
Slide 1: Results Presentation 4Q20
Results Presentation March 17, 2021 4Q20 1
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements about future events that are not based on historical facts and are not assurances of future results. Such forward looking statements merely reflect the Company’s current views and estimates of future economic circumstances, industry
Slide 3: 2020 Highlights | 3R reached key accomplishments since the IPO
2020 Highlights | 3R reached key accomplishments since the IPO Strategy Strategy, Operation and Financial Discipline reflecting in 3R value 3R implemented all goals established in the IPO: Feb production results (Mar-3rd) SUDENE approval for Jan production Acquisition of Recôncavo and Peroá Clusters
Slide 4: 3R Petroleum | Efficient portfolio management and prepared to grow
3R Petroleum | Efficient portfolio management and prepared to grow Fastest growing onshore oil Redevelop, Revitalize and Rethink producer in Brazil Oil and Gas Fields Strategy of revitalization of mature fields with low recovery Potiguar factor and no exploratory risks Basin B C A Total production o
Slide 5: Timeline | Company with history in carrying acquisitions at attractive multiples
Timeline| Company with history in carrying acquisitions at attractive multiples Pescada Fazenda Rio Peroá 3R Macau Recôncavo Arabaiana Belém Ventura (50% WI) Petroleum Aug-19 Jul-20 Aug-20 Aug-20 Dec-20 Jan-21 2021 Acquisition US$191 US$1.5 US$35 US$94 US$250 US$27.5 US$599 Value Paid Values R$ 862
Slide 6: 3R Reserves | Certified Reserves Overview
3R Reserves | Certified Reserves Overview Evolution of 3R Portfolio - 2P Reserves 3R's strategy is focused on the (Mboe) 173.8Mboe development and production of 61.2 12.2 (2) 173.8 2P certified proven and probable certified reserves reserves 24.9 73% 126Mboe or 73% of 3R's reserves (1) 15.1 12.6 of
Slide 7: Macau Oil Production | Operation shows first results of 3R management
Macau Oil Production | Operation shows first results of 3R management Production with High Efficiency Macau Oil Production - Monthly (bblpd) Oil production reached a daily average of ~ 4.6 4,593 kbbld in Feb/2021, an increase of 27.6% against Jun/20, the month in which 3R took over the 4,228 operati
Slide 8: 3R Total Production | Considering 3R's participation in the 6 acquired assets
3R Total Production | Considering 3R’s participation in the 6 acquired assets Oil & Gas Production for *3R (thousand boepd) The result of Macau Cluster demonstrates the potential of the Closure of Peroá due to assets acquired from Petrobras reduced demand during the pandemic 15.4 15.5 15.5 0.5 0.5 D
Slide 9: Financial Performance | 100% of Macau and 35% of Pescada
Financial Performance | 100% of Macau and 35% of Pescada Net Revenue Lifting Cost | Macau (R$ MM) (US$/boe) 204.3 +4.4% 36.9 -17.6% 6.40 81.7 85.2 9.4 5.33 5.26 10.3 167.3 71.4 75.9 Jan-20 - May-20 3Q20 4Q20 3Q20 4Q20 2020 Pescada Macau Adjusted Ebitda Capex (R$ MM) (US$MM) 1.66 61.1% 65.0% 59.3% Mi
Slide 10: Capital Structure | Efficiency financial structure and discipline
Capital Structure | Efficiency financial structure and discipline (US$MM) 700 599 383 600 17% contingent 500 50% WI in Peroá • US$54 MM contingency related to the average performance of Cluster brent in 12 months, 49% at US$48 and 51% at US$58. 400 • US$10 MM contingency related to the declaration o
Slide 11: Recôncavo Cluster | Aiming synergie between assets
Recôncavo Cluster | Aiming synergie between assets 3R replicates in the Recôncavo Basin the same Cluster strategy adopted in the Potiguar Basin Strategic Highlights Field Location Transaction of US$ 250 MM ✓ High quality oil (APIº between 31-41). and 4.1x entry multiple per 2P reserve. ✓ 61.2 Mboe o
Slide 12: Peroá Cluster | Acquisition point out the expansion of the Company's Offshore strategy
Peroá Cluster | Acquisition point out the expansion of the Company's Offshore strategy Field Location Operational and Strategic Highlights N 25m 50m UTGC Tieback with Peroá Cluster marks 3R's entry into the Espírito Santo State Pólo PEROÁ CANGOÁ Peroá 100m to be Cacimbas and makes 3R's production mo
Slide 13: Sustainability | Business plan supported by ESG standards
Sustainability | Business plan supported by ESG standards Prevention and focus on health and security Energy Reforesting Alternative energy generation projects at Forest recovery projects surrounding ▪ Hybrid working system Macau Cluster using wind turbines and gas the assets in operation production
Slide 14: 3R start 2021 prepared to grow in the Oil and Gas industry
3R start 2021 prepared grow in the Oil and Gas industry Strategy Participate competitively in the Petrobras onshore and offshore divestment process, respecting financial discipline and its history of acquisitions with attractive entry multiple per 2P reserve Operational Focus ✓ Conclude the transiti