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January 2017 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Jan 20, 2017 · 20 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 2017 Corporate Presentation – Parex Resources, Inc. – slide 1
    Sustained Performance Expanding Potential www.parexresources.com TSX:PXT Corporate Presentation January 2017
  2. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 2
    Demonstrating Portfolio Flexibility OPERATING RESULTS 2016E 2017E Production (bopd) Full Year 29,700 34,000 -36,000 Capital Expenditures(1) (million) US 110-120 US 200-225 Exploration Drilling ( prospects) 8 14 Appraisal ( wells) 8…
  3. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 3
    2017 Outlook 2017 Assumptions Oil (Brent) US 50/bbl FFO netback US 17/bbl Production (midpoint) 35,000 bopd Capital expenditures (midpoint) US 213 MM FFO (midpoint) US 217MM Year-over-year production growth per share 18% Annualized…
  4. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 4
    2017 Guidance: Cash Flow Funded Growth Capital Expenditures Planned Activities i. Maintenance & development 30,000 bopd forecast base production US 45-55MM 12 development wells (LLA-34) Forecast corporate decline rate 15% ii. Appraisal…
  5. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 5
    Consistent Growth 40 38 36 34 36 34 Sustained Mbopd Average Daily Production (Mbopd) 32 Performance, Leveraging Expanding Potential 30 Portfolio Flexibility 28 26 Building 24 The Runway 22 20 18 Sustainability 16 14…
  6. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 6
    Parex Cash Netbacks Brent Price USD/Bbl Royalties Transportation Opex G&A Tax Finance & Other Cash Netback 75 2017 Target Netbacks 60 Brent Price Estimates 55 Realized Price (US /bbl) Q3 Brent 50 47/bbl 45 45 30…
  7. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 7
    Annual Finding, Development & Acquisition Costs* Total Company 2015 3 Year 35 PDP 1P 2P 2P 30 F&D /bbl 8.62 2.00 0.88 9.35 25 2P FD&A (/bbl) FD&A /bbl 8.62 2.00 3.57 10.86 20 Recycle Ratio PDP 1P 2P 2P 15 10 FD&A /bbl 1.4x…
  8. January 2017 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 Life + Possible (mmboe) (mmboe) Production Index based on annualized…
  9. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 9
    Southern Llanos: Foundation for Growth Cabrestero (100% WI, Operator) FAULTS Carmentea GLJ 3P (YE 2015) Akira: swing producer 2016 Exploration N 2017 Exploration Bacano-2: drilled & testing New Pads Calona LLA-32 Chachalaca…
  10. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 10
    Block LLA-34: 2017 Continued Exploration & Fields Extension Opportunities to grow the Tilo - 2014 Tigana & Jacana reserves beyond the current GLJ 3P Tarotaro - 2013 Tigana - 2013 Tigana Sur 7 Tigana Sur 4 Tigana Sur 6 Tua…
  11. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 11
    Tigana Guadalupe in Early Appraisal Stage Tigana-4 With no new wells, Tigana produced flat for 19 months Corporate Presentation January 2017 11
  12. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 12
    IP Rates LLA-34: Production Flexibility LOG PROBABILITY CHART IP (30) All 100.00 P1 Reference Curve Jacana-1 Tigana-4 Jacana-5 P10 Tigana Norte-1 Jacana-4 Tigana-1 P20 Cum ulative probability Tarotaro-1 Jacana-2…
  13. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 13
    Capachos Development & Exploration Potential 2017 Plan Guadalupe Depth Structure oDrill 2 development wells + disposal well Development drilling targets areas that Noreste produced 2 mmbbls Target Guadalupe Formation, 34 API Oil…
  14. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 14
    Magdalena Basin: Next Growth Platform Aguas Blancas(1) VIM-1 Light oil opportunity Drill 10-15 wells in 2017 Playon(1) Boranda-1: drilled & cased; ongoing testing Q1 VMM-11 Drill on 2014 3D seismic 2017: 3 exploration wells Playon…
  15. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 15
    Aguas Blancas: Light Oil Opportunity Discovery Well: Aguas Blancas (1962, Ecopetrol) Llanita 45 mmbo Field Information Cumulative production: 1 MMBO (28 31 API) Solution gas (reservoir pressure 3,000 psi) Casabe Depth: 4,000 7,000…
  16. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 16
    Aguas Blancas: Phase 1* Appraisal Program 2016 Activity: o Drilled 4 wells from existing pads o Expanded reserves area by drilling 2 AB-26 appraisal wells from existing pads 2017 Plan AB-9 AB-14 o Drill 10-15 wells AB-32 o…
  17. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 17
    Summary: Excel at What We Do Core Competencies 1. Identify and acquire large prospective resources. 2. Engage stakeholders. 3. Focus on being a low cost operator. Corporate Presentation January 2017 17
  18. January 2017 Corporate Presentation – 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. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 19
    Appendix Summary of Quarterly Results (Unaudited Results) 2016 2015 2014 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of boe/d) 29.8 29.1 28.9 27.4 28.6 27.4 27.0 26.7 22.5 26.5 25.2 19.9 18.4 Brent Price…
  20. January 2017 Corporate Presentation – Parex Resources, Inc. – slide 20
    Colombia Current Land Base LOWER MAGDALENA Corporate Presentation January 2017 20

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