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July 2014 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Jul 10, 2014 · 21 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. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 1
    Building The Runway July 10, 2014 Corporate Presentation PAREXRESOURCES.COM TSX:PXT
  2. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 2
    Colombia Focused Significant land base 2.2 mm gross acres Working interest in 21 blocks Diversified production base Experienced operator (120 wells drilled) 58 mmbbls in 2P Reserves Legend 2014: Building The Runway 2
  3. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 3
    Snapshot Financial Q1 2014 Operating Netback US 61.20/bbl Q2 2014 Exit Rate Production 23,500 bopd Q1 Funds Flow US 77 MM Reserves 2P (June 30, 2014) 58 MMboe1 2P Reserve Life Index (RLI) of 6.7 years Capital Structure S&P/TSX…
  4. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 4
    2014 Guidance (updated July 10) 2014 Full Year Average Production 22,100-22,500 bopd Revised 2014 Production Guidance Three months ended Q413 Q114 Q214 Q314 Q414 FY14 17,287 18,427 19,870 24,500 - 25,500 - 22,100 - Average daily…
  5. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 5
    Colombia: Diversified & Extensive Asset Base Middle Magdalena Basin Llanos Basin Capachos Nare VMM-11 Palagua Cocorna PP Velasquez Morpho LLA-16 LLA-40 2014 Planned Activity Kona LLA-17 Development & New Play Block…
  6. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 6
    Building A Sustainable Business Track record of progressing reserves from 3P to cash flow Focus on increasing reserve life index (RLI) & sustainability Proved + Probable 2P Reserves Life After Tax PV10 Proved + Probable Proved +…
  7. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 7
    Structures: Progressively Larger Median Llanos Kona Las Maracas Low side closures 100 acres 300 acres 300 acres 500 +1000 acres Bottom water drive Edge water drive Edge water drive Oil Water Sandston Shale 2014: Building The…
  8. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 8
    Grow & Diversify Production LLA-16 LLA-20 Los Ocarros Cabrestero LLA-32 LLA-34 LLA-30 Other 22 20 18 16 Bopd (000) by block 14 12 10 8 6 4 2 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 est. 2010 2011 2012 2013…
  9. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 9
    Parex Exploration Life Cycle Develop Acquire Test Initial Expand Exploitation Concept Land Concept Development Land Traditional 3-Ways LLA-26, Cebucan Low Side Cabrestero, LLA-34, Closures Verano Acquisition Stratigraphic…
  10. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 10
    Traditional Llanos Structures Characterized by: LLA-40 Parex deep basin knowledge & operational Township LLA-16 experience Kona Producing light oil 30-37 API from 5 fields LLA-17 LLA-57 Celeus Sulawesi Productive reservoirs: C7,…
  11. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 11
    Southern Llanos: Low Side Closures Acquired blocks in 2012 to develop concepts Santiago Maniceo -Bandola and prove-up in 2013 with discoveries Balay LLA-32 El Palmar Cabrestero (100% WI, Operator) Carmentea Los Trompillos Akira -…
  12. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 12
    Verano Acquisition: Property Summary Santiago Block Parex Verano Maniceo -Bandola PXT WI WI WI Balay LLA-32 El Palmar LLA-17 40% 23% 63% Carmentea Los Trompillos Kananaskis Max LLA-32 30% 40% 70% LLA-34 Tarotaro Tigana…
  13. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 13
    New Play Type: Stratigraphic/Channels LLA-30 (100% WI, Operator) LLA-20 New Discoveries 2013: Adalia-1 38 API at 1,000 bopd LLA-24 Adalia-2 waiting on completion Adalia-3 initial test of 38 API at 1,000 bopd Adalia Exploration…
  14. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 14
    Capachos Farm-in: Ecopetrol Partnership Capachos (50% WI, Operator) Development & exploration opportunities Capachos ANH royalty contract Large structure, light oil, 2 mmbbls produced from 2 wells Leverages our strengths: low cost…
  15. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 15
    Middle Magdalena Basin: New Play Concepts VMM-11 (100% WI, Operator) Middle Magdalena Basin Testing of new play concepts for cold heavy oil production (CHOPS) Nare Builds on managements success with Petro VMM-11 Andina in…
  16. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 16
    Llanos Deep Basin: New Play Concepts Transition Zone Foothills: large oil & gas structures, US 75MM wells Plains: small oil structures, US 5 10MM wells Transition Zone Deep Basin: undrilled, +US 25MM wells Parex objective to…
  17. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 17
    Expanding Capacity Colombian Throughput vs. Pipeline Capacity* (mbd) 2500 2,020 2000 1500 1,472 1,377 1,446 1,287 1,133 988 1000 Current Production 500 Growth Opportunity 0 2010 2011 2012 2013 2014 2015 2016…
  18. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 18
    Operating Netback: Colombia Premium Operating Opex & Royalties Brent Price Netback Transportation US /BBL 140 Brent Price US /BBL 120 9 Price Realized Price (US /bbl) 8 8 8 15 100 12 8 14 14 26 12 Fiscal 7 8 14 26 29 29…
  19. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 19
    Parex Value Proposition Proven Managements track record Self-funded growth Exposure to Brent Oil Pricing LATAM exposure 2014: Building The Runway 19
  20. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 20
    Appendix Block Summary Operated/ Block Working Interest Partners Gross Acres Basin Non-Operated LLA-16 Operated 100% N/A 157,611 Llanos LLA-17 Operated 63% Geopark 108,726 Llanos LLA-20 Operated 100% N/A 144,292 Llanos LLA-24…
  21. July 2014 Corporate Presentation – Parex Resources, Inc. – slide 21
    Appendix Summary of Quarterly Results (Unaudited) (millions of US dollars, except per share amounts) 2014 2013 2012 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Average realized prices, prior to hedging 103 104 102 106 99 110 109…

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