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Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Nov 15, 2015 · 19 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. Corporate Presentation – Parex Resources, Inc. – slide 1
    Leveraging Portfolio Flexibility November 2015 Corporate Presentation PAREXRESOURCES.COM TSX:PXT
  2. Corporate 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. Corporate Presentation – Parex Resources, Inc. – slide 3
    Track Record of Consistent Growth Production Growth Debt Adjusted Reserve Growth Debt Adjusted 28,000 200 120 Possible - LHS 0.80 Production (bopd) LHS 23,000 100 2P - LHS Reserves (MMboe) 160 Reserves per share 0.60…
  4. Corporate Presentation – Parex Resources, Inc. – slide 4
    2016 Guidance(1): Built for Lower Prices Brent Oil Price Scenario 50 per barrel Estimated USD millions Maintenance Capital (4 wells + Facilities) 50 Capachos Block Development (3 wells) 35 Exploration Growth Commitments (10 wells) 80…
  5. Corporate Presentation – Parex Resources, Inc. – slide 5
    Grow & Diversify Production LLA-16 LLA-20 Los Ocarros Cabrestero LLA-32 LLA-34 LLA-30 LLA-26 LLA-40 Other 32 28 24 20 16 12 8 4 0 2016FY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1…
  6. Corporate Presentation – Parex Resources, Inc. – slide 6
    2015 Drilling Results Exploration Drilling Well Timing Discovery Comments 1 Rumba-1 Q1 Successful; producing up to 4,000 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. Corporate Presentation – Parex Resources, Inc. – slide 7
    Colombian Cash Netbacks Cash Netback Finance & Other Tax G&A Opex Transportation Royalties Brent Price US /BBL 125 2016 PRICE SENSITIVITY Realized Price (US /bbl) 100 75 Brent Estimates 60 50 50 Q3 Brent 51.2/bbl 40…
  8. Corporate 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 60 FD&A /bbl 13.79 17.16 1 Year /bbl 3 Year /bbl 50 FD&A /bbl 40 30 20 10 0 2010 2011 2012 2013 2014…
  9. 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. Corporate Presentation – Parex Resources, Inc. – slide 10
    Rumba 2015 New Discovery 1. Rumba-1 Spud Mar. 25, 2015 Pre Bazar Drill Post Bazar Drill Tested oil 2 zones Mirador 19 API 2. Rumba-2 Appraisal well, 1 km step-out 3. Bazar-2 Successful, 2.2 km step-out 4. Rumba-4 Disposal well 5.…
  11. Corporate 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. Corporate Presentation – Parex Resources, Inc. – slide 12
    Block LLA-34: New Discoveries and Extending Fields Tilo - 2014 Chachalaca (2015) Max - 2012 Tilo-2 (2015) Tigana - 2013 Tarotaro - 2013 Tua - 2012 - Black: 3P GLJ Dec 31, 2014 - Prospects Aruco - 2013 Jacana…
  13. Corporate Presentation – Parex Resources, Inc. – slide 13
    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…
  14. Corporate Presentation – Parex Resources, Inc. – slide 14
    Magdalena Basin: Next Growth Platform Growth Options: VIM-1 VIM-1 *LOWER MAGDALENA Acquire 3D seismic and drill in 2016 No. Fields: 43 EUR: 547 mmboe Prod.: 15 mboe/d VMM-9 EIA underway Catatumbo *MIDDLE MAGDALENA VMM-11…
  15. Corporate Presentation – Parex Resources, Inc. – slide 15
    Aguas Blancas Field Background 44 mmbo Discovery Well: Aguas Blancas (1962, Ecopetrol) Field Information Cumulative Production: 1 MMBO (28 31 API) Solution Gas (Reservoir Pressure 3,000 psi) Depth: 4,000 7,000 feet Main…
  16. Corporate Presentation – Parex Resources, Inc. – slide 16
    La Cira-Infantas: Aguas Blancas Analog Average Annual Production 65 Sept 2015 60 Target Update 55 50,000 bpd 50 Production (000 bpd) 45 40 35 30 25 20 15 10 5 - 1925 1935 1945 1955 1965 1975 1985 1995 2005…
  17. Corporate Presentation – Parex Resources, Inc. – slide 17
    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 17
  18. Corporate Presentation – Parex Resources, Inc. – slide 18
    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…
  19. Corporate Presentation – Parex Resources, Inc. – slide 19
    Appendix Summary of Quarterly Results (Unaudited) 2015 2014 2013 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of bopd) 27.4 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…

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