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JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc.

Parex Resources, Inc. · Jul 6, 2015 · 22 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 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 1
    Leveraging Portfolio Flexibility July 2015 Corporate Presentation PAREXRESOURCES.COM TSX:PXT
  2. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 2
    Snapshot Operating Results Q2 2015 Production 27,000 bopd 2015 Production Guidance 26,500 26,700 bopd 2014 Production 22,526 bopd Reserves 2P (December 31, 2014) 68.4 MMboe(1) 2P Reserve Life Index (RLI) of 7.1 years Capital Structure…
  3. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 3
    Track Record of Consistent Growth Production Growth Debt Adjusted Reserve Growth Debt Adjusted 27,000 195 Production (bopd) 120 Possible - LHS 0.80 LHS 22,000 155 100 2P - LHS Reserves (MMboe) Production per share Production…
  4. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 4
    Grow & Diversify Production LLA-16 LLA-20 Los Ocarros Cabrestero LLA-32 LLA-34 LLA-30 Other 27 24 21 Bopd (000) by block 18 15 12 9 6 3 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Est. 2010 2011…
  5. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 5
    Colombian Cash Netbacks Operating Opex & Royalties Brent Price Netback Transportation US /BBL 140 120 9 Realized Price (US /bbl) 8 8 8 15 100 12 8 14 8 26 14 12 14 15 7 26 29 29 11 80 22 23 27 26 22 29 29 28 28 28…
  6. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 6
    Annual FD&A Including FDC 70 Total Company 2P (Proven + Probable) 2014 3 yr F&D /bbl 10.92 14.99 FD&A /bbl 13.79 17.16 60 1 Year /bbl 3 Year /bbl 50 FD&A /bbl 40 30 20 10 0 2010 2011 2012 2013 2014…
  7. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 7
    Llanos Plains Structural Pool Sizes (IHS) 60 Pmean = 3.9 MMBO P50 = 2.0 MMBO 50 2P Reserves MMBO Good fit to a logarithmic distribution Mature distribution 40% of discoveries made since 2010 40 Conforms to Parex Llanos initial…
  8. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 8
    Llanos Stratigraphic Pools: Significant Gaps in the 20-90 MMBO Range 2008 * 160 140 2P Reserves MMBO 2010 120 1989 * 100 Tigana Guadalupe & Mirador likely both fit into this gap 80 60 40 2011 2010 2007 *…
  9. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 9
    Portfolio Supports the Path to Growth Track record of progressing reserves* from 3P to cash flow Proved +Probable Proved + Proved Annual 2P + Possible Probable (mmboe) Production Reserves (mmboe) (mmboe) (mmbbls) Life Index 31-Dec -09…
  10. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 10
    2015 Guidance: Self Funded 18% Growth Brent Oil Price Scenario 60 per barrel (USD millions) Maintenance Capital 70-75 Exploration:8 Commitment Wells + 2 LLA-32 Prospects 75-80 2015 Base Capital 145-155 2015 Growth: Rumba Discovery +…
  11. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 11
    2015 Exploration Drilling Program Prospect/Well Block Timing / Status 1 Rumba-1 LLA-26 Tested 2,158 bopd from Mirador 2 Bazar-1 LLA-26 Drilling (exploration satellite to Rumba) 3 Rumba-2 LLA-26 Rumba / Bazar follow-up 4 Taringa-1 Cebucan…
  12. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 12
    Rumba Operations Plan 1. Rumba-1 Spud Mar. 25, 2015 Tested oil 2 zones Mirador 19 API Final rates 2,158 bopd Producing 800 bopd 2. Bazar-1 Drilling Une target 3. Build LTT 4. Appraisal Well Leveraging Portfolio Flexibility…
  13. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 13
    Southern Llanos: New Play Trends Cabrestero (100% WI, Operator) CARMENTEA Akira swing producer Carcay LLA-32 CALONA LLA 34 (55% WI, Non-operated) Guepardo KANANASKIS Xorop LLA-34 Large discoveries at Tua & Tigana Chenchena TILO…
  14. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 14
    LLA-32: Exploring the Trend Kananaskis-1 Mirador: IP = 5000 bopd 30 API Une: High liquids gas Valley fill trap with Further testing down dip water required Leveraging Portfolio Flexibility 14
  15. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 15
    Parex Exploration Life Cycle Develop Acquire Test Initial Expand Exploitation Concept Land Concept Development Land Traditional LLA-26, Cebucan 3-Ways Low Side Cabrestero, LLA-34, LLA-10 Closures Stratigraphic LLA-30, LLA-32,…
  16. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 16
    Magdalena Basin: Opportunity to Accelerate Cesar Growth Options: VIM-1 Rancheria VIM-1 Acquire 3D seismic Lower Magdalena Drill in 2016 VMM-9 Catatumbo EIA underway VMM-11 Leverage 3D seismic acquired in 2014 Middle Accelerate…
  17. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 17
    Lower Magdalena: VIM-1 Take advantage of the 50% lower cost to acquire 405 km2 3D seismic in VIM-1 Block provides exposure to: 2015 Proposed 3D Light oil play (e.g. El Dificil field 44-47API) The Porquero Turbidite…
  18. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 18
    Middle Magdalena Basin: New Play Concepts VMM-9 & VMM-11 (100% WI, Operator) Testing of new play concepts: 1. Tertiary Structure Cold heavy oil production (CHOPS) Fairway OPON Conventional structure/sub-thrust (CHOPS) 2. Subcrop La…
  19. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 19
    Capachos Farm-in: Ecopetrol Partnership Capachos (50% WI, Operator)1 Capachos Development & exploration opportunities ANH royalty contract Large structure, light oil, 2 mmbbls produced from 2 wells Leverages our strengths: low cost…
  20. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 20
    Wrap-Up: What We Do Core Competencies 1. Identify and acquire large prospective resources 2. Engage stakeholder 3. Focus on being a low cost operator Rumba-1 Location Leveraging Portfolio Flexibility 20
  21. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 21
    Appendix Block Summary Block Operated/Non-Operated Working Interest Partners Gross Acres Basin 1 LLA-10 Operated 50% Petro America 189,544 Llanos 2 LLA-16 Operated 100% N/A 157,611 Llanos 3 LLA-17 Operated 63% Geopark 108,726 Llanos…
  22. JULY 2015 CORPORATE PRESENTATION – Parex Resources, Inc. – slide 22
    Appendix Summary of Quarterly Results (Unaudited) 2015 2014 2013 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of bopd) 26.7 22.5 26.5 25.2 19.9 18.4 15.9 17.3 16.2 15.5 14.4 Average realized prices, prior to…

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