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August 2015 Investor Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Aug 7, 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. August 2015 Investor Presentation – Parex Resources, Inc. – slide 1
    Leveraging Portfolio Flexibility August 2015 Corporate Presentation PAREXRESOURCES.COM TSX:PXT
  2. August 2015 Investor Presentation – Parex Resources, Inc. – slide 2
    Snapshot Operating Results Q2 2015 Production 27,025 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 Market capitalization at CAD 8.50/share…
  3. August 2015 Investor 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. August 2015 Investor Presentation – Parex Resources, Inc. – slide 4
    Grow & Diversify Production LLA-16 LLA-20 Los Ocarros Cabrestero LLA-32 LLA-34 LLA-30 Other 30 27 24 Bopd (000) by block 21 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 2010 2011…
  5. August 2015 Investor Presentation – Parex Resources, Inc. – slide 5
    Colombian Cash Netbacks Operating Opex & Royalties Brent Price Netback Transportation US /BBL 120 9 8 8 8 100 8 15 14 14 12 14 15 12 Realized Price (US /bbl) 7 8 11 26 80 26 22 22 23 26 29 29 27 28 29 29 28 28 30 Q2…
  6. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor Presentation – Parex Resources, Inc. – slide 11
    2015 Exploration Drilling Program Prospect/Well 1 Block Timing / Status 1 Chachalaca-1 LLA-34 Testing operations underway 2 Rumba-2 LLA-26 Tested 1,250 bopd 3 Bazar-2 LLA-26 July 28, 2015 Spud 4 Rumba-3 LLA-26 Rumba appraisal well 5…
  12. August 2015 Investor Presentation – Parex Resources, Inc. – slide 12
    Rumba 2015 New Discovery 1. Rumba-1 Spud Mar. 25, 2015 Tested oil 2 zones Mirador 19 API Producing 1,700 bopd 2. Rumba-2 Appraisal well, 1 km step-out Restricted rate 1,350 bopd 3. Bazar-2 Drilling, 2.2 km step-out Une target 4.…
  13. August 2015 Investor 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 Chachalaca…
  14. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor 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. August 2015 Investor Presentation – Parex Resources, Inc. – slide 22
    Appendix Summary of Quarterly Results (Unaudited) 2015 2014 2013 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of bopd) 27.0 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…

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