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June 2016 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Jun 9, 2016 · 21 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. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 1
    Sustained Performance Expanding Potential www.parexresources.com TSX:PXT Corporate Presentation June 2016
  2. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 2
    Demonstrating Portfolio Flexibility Operating Results 2015 2016FY Production (bopd) Full Year 27,434 29,000 Capital Expenditures(1) (million) US 126 US 80-100 Exploration Drilling ( of prospects) 5 9 Discoveries 3 - Appraisal (…
  3. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 3
    2016 Guidance: Ability to Adjust Capex Scenario 1: November 2, 2015 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. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 4
    2016 Drilling Program Basin Block Working Interest Play Type Well Type Llanos Cabrestero 100% Stratigraphic Exploration Llanos Cabrestero 100% Stratigraphic Exploration Llanos Cerrero 100% Stratigraphic Exploration Llanos Cebucan 100%…
  5. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 5
    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…
  6. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 6
    Parex Cash Netbacks Cash Netback Finance & Other Tax G&A Opex Transportation Royalties Brent Price US /BBL 125 2016 TARGET NETBACKS 100 Realized Price (US /bbl) 75 Brent Estimates 55 50 45 Q1 Brent 35/bbl 40 35 25…
  7. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 7
    Annual Finding, Development & Acquisition Costs* Total Company 2015 3 Year PDP 1P 2P 2P F&D /bbl 8.62 2.00 0.88 9.35 FD&A /bbl 8.62 2.00 3.57 10.86 Recycle Ratio PDP 1P 2P 2P FD&A /bbl 1.4x 6.2x 3.5x 2.6x 35 30 2015 FD&A…
  8. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 8
    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…
  9. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 9
    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)…
  10. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 10
    Tigana Guadalupe in Early Appraisal Stage With no new wells, Tigana has been producing flat for 16 months Corporate Presentation June 2016 10
  11. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 11
    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,…
  12. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 12
    IP Rates LLA-34: Production Flexibility Mean prodn rate = 1,000 bopd 26 zones tested BOPD 100 1,000 2,000 3,000 10,000 The mean rate of 1,000 bopd is skewed to the low-side because the higher producing rate wells are not…
  13. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 13
    Magdalena Basin: Next Growth Platform Growth Opportunities: VIM-1 Aguas Blancas Light oil development farm-in on Ecopetrol De Mares Farm-in on Ecopetrol Coyote-1: re-enter & test Morpho Light oil, tight sand Warehouse for higher…
  14. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 14
    Middle Magdalena Basin: New Play Concepts Boranda-1 De Mares & Playon (50% WI, Operator) Update Map (w/ DM & Playon) 1. Ecopetrol Farm-in Playon Coyote-1: Re-enter & test Boranda-1: exploration prospect Paleo High VMM-9 & VMM-11…
  15. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 15
    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…
  16. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 16
    Aguas Blancas: Phase 1 Appraisal Program Current Status(1)(2) Phase 1(1)(2) Drill up to 4 wells from existing pads (pending Operator transfer) Expand 2P reserves area by drilling appraisal wells from 2015 Reserves new pads…
  17. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 17
    Across the Rio Colorado Rio Colorado Fault Lines AB-4 Block Boundary AB-2 AB-5 Corporate Presentation June 2016 17
  18. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 18
    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 June 2016 18
  19. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 19
    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…
  20. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 20
    Appendix Summary of Quarterly Results (Unaudited Results) 2016 2015 2014 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of bopd) 28.9 27.4 28.6 27.4 27.0 26.7 22.5 26.5 25.2 19.9 18.4 Average realized prices, prior…
  21. June 2016 Corporate Presentation – Parex Resources, Inc. – slide 21
    Colombia - Current Land Base Corporate Presentation June 2016 21

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