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January 2016 Investor Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Jan 4, 2016 · 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. January 2016 Investor Presentation – Parex Resources, Inc. – slide 1
    Consistent Performance Sustained Growth Expanding Potential January 2016 Corporate Presentation 1 PAREXRESOURCES.COM TSX:PXT
  2. January 2016 Investor Presentation – Parex Resources, Inc. – slide 2
    Demonstrating Portfolio Flexibility Operating Results 2014 2015 Production (bopd) Full Year 22,526 27,400 Capital Expenditures US 297 US 120 130 (E) Exploration Drilling ( of prospects) 16 5 Discoveries 7 3 Appraisal ( wells) 4 4…
  3. January 2016 Investor Presentation – Parex Resources, Inc. – slide 3
    2016 Guidance (1): Flexibility to Adjust Scenario 1: November 2, 2015 Assuming Brent oil price averages 50/bbl in 2016, we are targeting full year: 165MM cash flow 15/bbl cash netback 165MM Capex 30,200 bopd production (10% y-y…
  4. January 2016 Investor Presentation – Parex Resources, Inc. – slide 4
    Upcoming Events 1. Feb 8: Reserve Report Release (Independent evaluation) 2. Feb 11: Analysts Update (Calgary, in-house 3 hours) 3. Feb 23: Investor Tour Colombia 4. March 8: Q4 & 2015 YE operational & financial results…
  5. January 2016 Investor Presentation – Parex Resources, Inc. – slide 5
    Track Record of Consistent Growth Production Growth Debt Adjusted 200 25,000 160 20,000 Production (bopd) Production per share 120 15,000 80 10,000 5,000 40 - 0 2010 2011 2012 2013 2014 2015E Production (bopd)…
  6. January 2016 Investor Presentation – Parex Resources, Inc. – slide 6
    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…
  7. January 2016 Investor 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. January 2016 Investor 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. January 2016 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 Reserves + Possible Probable (mmboe) Production Life Index (mmboe) (mmboe) (mmbbls) 31-Dec…
  10. January 2016 Investor 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. January 2016 Investor Presentation – Parex Resources, Inc. – slide 11
    Southern Llanos: Appraising New Discoveries Cabrestero (100% WI, Operator) CARMENTEA Akira swing producer LLA-32 2016 exploration well CALONA KANANASKIS LLA-34 LLA 34 (55% WI, Non-operated) Chachalaca TILO MAX Large…
  12. January 2016 Investor 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. January 2016 Investor Presentation – Parex Resources, Inc. – slide 13
    Magdalena Basin: Next Growth Platform Growth Options: VIM-1 Aguas Blancas Light oil development farm-in on Ecopetrol *LOWER MAGDALENA No. Fields: 43 EUR: 547 mmboe Prod.: 15 mboe/d VIM-1 Acquire 3D seismic Catatumbo VMM-9 *MIDDLE…
  14. January 2016 Investor Presentation – Parex Resources, Inc. – slide 14
    Aguas Blancas Field Background Discovery Well: Aguas Blancas (1962, Ecopetrol) 44 mmbo Field Information Cumulative Production: 1 MMBO (28 31 API) Solution Gas (Reservoir Pressure 3,000 psi) Depth: 4,000 7,000 feet Main Reservoir:…
  15. January 2016 Investor Presentation – Parex Resources, Inc. – slide 15
    La Cira-Infantas: Production History Average Annual Production 65 Sept 2015 60 Target Production 55 50,000 bpd 50 Production (000 bpd) 45 40 35 30 Recent water-flood response 25 20 15 10 5 - 1925 1935 1945…
  16. January 2016 Investor 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 Tua Location Corporate Presentation: January 2016 16
  17. January 2016 Investor 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. January 2016 Investor 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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