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December 2015 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Dec 8, 2015 · 18 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. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 1
    Leveraging Portfolio Flexibility December 2015 Corporate Presentation PAREXRESOURCES.COM TSX:PXT
  2. December 2015 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 4…
  3. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 3
    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 +…
  4. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 4
    Track Record of Consistent Growth Production Growth Debt Adjusted 28,000 200 23,000 160 Production (bopd) Production per share 18,000 120 13,000 80 8,000 3,000 40 -2,000 2009 2010 2011 2012 2013 2014 2015E 0 Production…
  5. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 5
    Consistent Production Growth 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…
  6. December 2015 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. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 7
    Parex 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. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 8
    Annual Finding, Development & Acquisition Costs* 70 Profitability = Cash Netbacks F&D Total Company 2P (Proven + Probable) 2014 3 yr 60 F&D /bbl 10.92 14.99 FD&A /bbl 13.79 17.16 50 FD&A /bbl 40 30 20 10 0…
  9. December 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 Reserves + Possible Probable (mmboe) Production Life Index (mmboe) (mmboe) (mmbbls) 31-Dec…
  10. December 2015 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. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 11
    Southern Llanos: Appraising New Discoveries Cabrestero (100% WI, Operator) Akira swing producer CARMENTEA 2016 exploration well LLA-32 CALONA KANANASKIS LLA 34 (55% WI, Non-operated) LLA-34 MAX Chachalaca TILO Large…
  12. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 12
    Capachos Farm-in: Ecopetrol Partnership Capachos (50% WI, Operator)1 Development & exploration opportunities ANH royalty contract Large structure, light oil, 2 mmbbls produced from 2 wells Leverages our strengths: Capachos low cost…
  13. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 13
    Magdalena Basin: Next Growth Platform Growth Options: VIM-1 VIM-1 Acquire 3D seismic *LOWER MAGDALENA No. Fields: 43 EUR: 547 mmboe Prod.: 15 mboe/d VMM-9 Environmental Impact Assessment underway Catatumbo *MIDDLE MAGDALENA…
  14. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 14
    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…
  15. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 15
    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…
  16. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 16
    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 16
  17. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 17
    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…
  18. December 2015 Corporate Presentation – Parex Resources, Inc. – slide 18
    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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