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February 2016 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Feb 25, 2016 · 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. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 1
    Sustained Performance Expanding Potential www.parexresources.com TSX:PXT CORPORATE PRESENTATION February 2016
  2. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 2
    Demonstrating Portfolio Flexibility Operating Results 2014 2015E Production (bopd) Full Year 22,526 27,435 Capital Expenditures (million) US 297 US 127(E) Exploration Drilling ( of prospects) 16 5 Discoveries 7 3 Appraisal ( wells) 4 4…
  3. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 3
    2016 Guidance Flexibility : to Adjust Scenario 1: November 2, 2015(1) 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. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 4
    Track Record of Consistent Growth Production Growth Debt Adjusted 30,000 200 Production per share Production (bopd) 25,000 160 20,000 120 15,000 80 10,000 5,000 40 - - 2010 2011 2012 2013 2014 2015* Production (bopd)…
  5. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 5
    Progressively Larger Discoveries Median Llanos Kona Las Maracas Akira / Tigana 100 acres 300 acres 300 acres 500 +1000 acres 2010 2012 2014 Tigana/Jacana Focus Capachos 2016/17 Aguas Blancas 3000-5,000 acres CORPORATE…
  6. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 6
    Consistent Performance 32 Average Daily Production (000 bopd) 28 24 20 16 12 8 4 0 2011 2012 2013 2014 2015 2016E ANNUAL Building Cash Flow & Exploration Success Sustainability Building The Runway Leveraging…
  7. February 2016 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 100 Realized Price (US /bbl) 75 Brent Estimates 50 Q4E Brent 45 44.7/bbl 40 35…
  8. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 8
    Annual Finding, Development & Acquisition Costs* 45 Profitability = Cash Netbacks F&D Total Company 2015 2015 3 Year 40 1P 2P 2P F&D /bbl 2.14 0.99 9.38 35 FD&A /bbl 2.14 3.66 10.88 Recycle Ratio (proved + Probable) 2015 2015 2014…
  9. February 2016 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 + Probable Proved Annual 2P Reserves + Possible (mmboe) (mmboe) Production Life Index based on annualized…
  10. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 10
    Rumba Reserves Year End 2015 GLJ 2P EUR = 5.1 MMBO GLJ 3P EUR = 6.8 MMBO Production = 4,000 bopd (capable of CI = 10 5,000 bopd) Capital Invested = 43MM (plus 9MM FDC) Fully developed in six months (2015) Bazar 2 o 4 wells,…
  11. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 11
    Southern Llanos: Appraising New Discoveries Cabrestero (100% WI, Operator) FAULTS GLJ 3P (YE 2015) Akira swing producer 2016 Exploration NFuture Exploration Carmentea 2016 exploration well Calona LLA32 Kananaskis Chachalaca LLA…
  12. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 12
    Capachos Guadalupe Potential Cano Limon Style Capachos Noreste Capachos Norte Backthrust Este Synthetic Strike Slip Capachos Centro Backthrust Oeste Capachos Sur Plan to drill 2 new development wells 6 undrilled…
  13. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 13
    Magdalena Basin: Next Growth Platform VIM-1 Growth Options: Aguas Blancas Light oil development farm-in on *LOWER MAGDALENA No. Fields: 43 Ecopetrol EUR: 547 mmboe Prod.: 15 mboe/d VIM-1 Acquire 3D seismic Catatumbo *MIDDLE…
  14. February 2016 Corporate 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…
  15. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 15
    Aguas Blancas: Phase 1 Development Current Status Target Areas IB Construct new pads. Plan to expand reserve area by drilling additional wells. Water-flood pilot. Reserves Areas Continue reservoir Prospective Resource Area…
  16. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 16
    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 1955…
  17. February 2016 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 Location CORPORATE PRESENTATION February 2016 17
  18. February 2016 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% Gran Tierra 189,544 Llanos 2 LLA-16 Operated 100% N/A 157,611 Llanos 3 LLA-17 Operated 63% Geopark 108,726…
  19. February 2016 Corporate Presentation – Parex Resources, Inc. – slide 19
    Appendix Summary of Quarterly Results (Unaudited Results) 2015 2014 2013 FY Q4 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…

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