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Corporate Presentation April 2016 – Parex Resources, Inc.

Parex Resources, Inc. · Apr 11, 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. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 1
    Sustained Performance Expanding Potential www.parexresources.com TSX:PXT CORPORATE PRESENTATION April 2016
  2. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 2
    Demonstrating Portfolio Flexibility Operating Results 2014 2015 Production (bopd) Full Year 22,526 27,434 Capital Expenditures (million) US 297 US 126 Exploration Drilling ( of prospects) 16 5 Discoveries 7 3 Appraisal ( wells) 4 4…
  3. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 3
    2016 Guidance Ability : to Adjust Capex Scenario 1: November 2, 2015(1) Assuming Brent oil price averages 50/bbl in 2016, we are targeting full year: 165 MM cash flow = 165 MM Capex 15/bbl cash netback 30,200 bopd production (10% y-y…
  4. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 4
    Consistent Performance 32 Average Daily Production (000 bopd) 28 24 20 16 12 8 4 0 2011 2012 2013 2014 2015 2016E ANNUAL Leveraging Sustained Building Cash Flow Exploration Success Sustainability Building The…
  5. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 5
    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 55 50 45 Q4 Brent 40 44.70/bbl 35…
  6. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 6
    Annual Finding, Development & Acquisition Costs* Total Company 2015 2015 3 Year 1P 2P 2P F&D /bbl 2.00 0.88 9.35 FD&A /bbl 2.00 3.57 10.86 Recycle Ratio 1P 2P 2P FD&A /bbl 6.2x 3.5x 2.6x 35 30 2P FD&A (/bbl) 25 2015…
  7. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 7
    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…
  8. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 8
    Southern Llanos: Foundation for Growth Cabrestero (100% WI, Operator) FAULTS GLJ 3P (YE 2015) Akira: swing producer 2016 Exploration NFuture Exploration Carmentea 2016: 1-2 exploration wells Calona LLA -34 (55% WI, Non-operated)…
  9. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 9
    Tigana Guadalupe in Early Appraisal Stage With no new wells, Tigana has been producing flat for 15 months CORPORATE PRESENTATION April 2016 9
  10. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 10
    Block LLA-34*: 2015 Discoveries and Extending Fields Chachalaca (2015) Tilo - 2014 Tilo-2 (2015) Tarotaro - 2013 Tigana - 2013 Opportunities to grow --- 3P GLJ Dec 31, 2015 the Tigana Guadalupe Tua - 2012 2P GLJ Dec 31,…
  11. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 11
    IP Rates LLA-34: Production Flexibility Mean prodn rate = 1,000 bopd 26 zones tested The mean rate of 1,000 bopd is skewed to the low-side because the higher producing rate wells are not produced at capability CORPORATE…
  12. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 12
    Magdalena Basin: Next Growth Platform VIM-1 Growth Opportunities: 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…
  13. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 13
    Aguas Blancas: Undeveloped Discovery 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…
  14. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 14
    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…
  15. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 15
    Aguas Blancas: Phase 1 Appraisal Program Current Status (1)(2) Target Areas 1B (1)(2) Drill up to 4 wells from existing pads (pending Operator transfer) Expand 2P reserves area by drilling Reserves Areas appraisal wells from…
  16. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 16
    PetroAndina:Other side of the other Rio Colorado Neuqun Basin, Argentina Greenfield development 2003-2009 Rio Colorado +200 wells/year drilled Reached 30,000 BOPD plateau (gross) CORPORATE PRESENTATION April 2016 16
  17. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 17
    Summary: Excel at 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 April 2016 17
  18. Corporate Presentation April 2016 – Parex Resources, Inc. – slide 18
    Appendix Block Summary Block Operated/Non-Operated Working Interest Partners Gross Acres(1) Basin 1 LLA-10 Operated 50% Gran Tierra 189,544 Llanos 2 LLA-16 Operated 100% N/A 11,736 Llanos 3 LLA-20 Operated 100% N/A 2,891 Llanos 4…
  19. Corporate Presentation April 2016 – 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 28.6 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…

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