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September 2015 Investor Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Sep 10, 2015 · 16 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. September 2015 Investor Presentation – Parex Resources, Inc. – slide 1
    Leveraging Portfolio Flexibility September 2015 Corporate Presentation PAREXRESOURCES.COM TSX:PXT
  2. September 2015 Investor Presentation – Parex Resources, Inc. – slide 2
    Demonstrating Portfolio Flexibility Operating Results 2014 2015 Production (bopd) Full Year 22,526 27,400 (E) Capital Expenditures US 297 US 140 145 (E) Exploration Drilling ( of prospects) 16 5 Discoveries 7 3 Appraisal ( wells) 4…
  3. September 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. September 2015 Investor Presentation – Parex Resources, Inc. – slide 4
    2015 Guidance: Maintaining 20% Growth Brent Oil Price Scenario Prior Budget Outlook (USD millions) Maintenance Capital 70-75 55-60 Exploration 75-80 40 2015 Base Capital 145-155 95-100 2015 Growth: Rumba Discovery + LLA-34 33 43…
  5. September 2015 Investor Presentation – Parex Resources, Inc. – slide 5
    Grow & Diversify Production LLA-16 LLA-20 Los Ocarros Cabrestero LLA-32 LLA-34 LLA-30 Other 30 25 Bopd (000) by block 20 15 10 5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 (Est.) (Est.) 2011…
  6. September 2015 Investor Presentation – Parex Resources, Inc. – slide 6
    2015 Drilling Program Exploration Drilling Well Timing Discovery Comments 1 Rumba-1 Q1 Successful; producing 1,700 bopd 2 Zoro Rojo-1 Q1 x D&A 3 Chachalaca-1 Q3 Potential oil zones in Mirador Formation, tested 1,045 bopd 4…
  7. September 2015 Investor Presentation – Parex Resources, Inc. – slide 7
    Colombian Cash Netbacks Cash Netback Finance & Other Tax G&A Opex Transportation Royalties Brent Price US /BBL 2016 PRICE SENSITIVITY 100 Realized Price (US /bbl) 80 Q2 Brent 63.50/bbl Brent Estimates 60 60 50 40…
  8. September 2015 Investor Presentation – Parex Resources, Inc. – slide 8
    Annual FD&A Including FDC Total Company 70 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…
  9. September 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. September 2015 Investor Presentation – Parex Resources, Inc. – slide 10
    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 Logs…
  11. September 2015 Investor Presentation – Parex Resources, Inc. – slide 11
    Southern Llanos: Appraising New Discoveries Cabrestero (100% WI, Operator) CARMENTEA Akira swing producer Carcay LLA-32 CALONA Xorop LLA 34 (55% WI, Non-operated) KANANASKIS LLA-34 Large discoveries at Tua & Tigana Chachalaca…
  12. September 2015 Investor Presentation – Parex Resources, Inc. – slide 12
    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…
  13. September 2015 Investor Presentation – Parex Resources, Inc. – slide 13
    Magdalena Basin: Next Growth Platform Cesar Growth Options: VIM-1 Rancheria VIM-1 Acquire 3D seismic and drill in 2016 *LOWER MAGDALENA No. Fields: 43 EUR: 547 mmboe Prod.: 15 mboe/d VMM-9 EIA underway Catatumbo VMM-11…
  14. September 2015 Investor Presentation – Parex Resources, Inc. – slide 14
    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 14
  15. September 2015 Investor Presentation – Parex Resources, Inc. – slide 15
    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…
  16. September 2015 Investor Presentation – Parex Resources, Inc. – slide 16
    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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