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March 2017 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Mar 1, 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. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 1
    Solid Foundation. Building New Platforms. www.parexresources.com TSX:PXT Corporate Presentation March 2017 Corporate Presentation Corporate March Presentation 2017 11 2017 March
  2. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Operating results 2016 2017E Production (boe/d) Full Year 29,715 34,000-36,000 Capital Expenditures(1) (million) US 112 US 200-225 Exploration Drilling ( prospects) 7 14 Appraisal Drilling ( wells) 4 15-20 Development…
  3. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 3
    2017 GUIDANCE: CASH FLOW FUNDED GROWTH Maintenance Capex 12 wells 30,000 boe/d 45-55MM Exploration Capex Assumptions 14 wells Oil (Brent) US 50/bbl 2,000-3,000 boe/d 85-90MM FFO netback US 17/boe CAPEX Production 34,000-36,000…
  4. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 4
    2017 DRILLING PROGRAM Basin & Block H1/2017 H2/2017 Total Wells Exploration Dev/Appraisal Exploration Dev/Appraisal LLANOS LLA-34 5 4 2 8 19 Capachos - 1 - 2 3 Other Llanos 3 2 - - 5 MAGDALENA Aguas Blancas - 9 - 1-6 10-15 VMM-11 2 - 1…
  5. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 5
    PAREX CASH NETBACK* 2017 TARGET CASH NETBACKS Brent 55 55 Brent 51.13 Brent 50 50 Brent 45.12 Differential (6.29) Brent 45 45 Royalties (3.75) REALIZED PRICE (USD/BOE) 40 (7.49) Opex (5.56) 35 (3.14) (4.88) Transportation…
  6. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 6
    CONSISTENT GROWTH: PATH TO 50,000 BARRELS 40,000 34,000-36,000 AVERAGE DAILY PRODUCTION (BOE/D) 35,000 30,000 29,715 25,000 27,434 20,000 22,526 15,000 15,854 10,000 11,407 5,000 - 2012 2013 2014 2015 2016 2017E Q1…
  7. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 7
    SOLID FOUNDATION SUPPORTS GROWTH TRACK RECORD OF PROGRESSING RESERVES* FROM 3P TO CASH FLOW Proved + Probable 2P Reserve Life Index Proved + Probable Proved Annual Production + Possible (mmboe) (mmboe) (mmboe) based on annualized…
  8. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 8
    CONVENTIONAL OIL RESERVES: INDUSTRY LEADING RESULTS 18 15 12 2P FD&A (USD/BOE) Total Company* 2016 3 Year PDP 1P 2P 2P FD&A /boe 6.47 6.99 3.40 7.69 9 Recycle Ratio PDP 1P 2P 2P FD&A 2.9x 2.7x 5.5x 2.5x 6 * Per the…
  9. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 9
    SOUTHERN LLANOS: FOUNDATION FOR GROWTH CABRESTERO (100% WI, operator) Carmentea Akira: swing producer Bacano-2 producing 575 bopd LLA-32 Calona Added 2 appraisal wells in H1/17 Kananaskis Chiricoca LLA-34 Tilo Max LLA-34 (55%…
  10. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 10
    BLOCK LLA-34: TEST EXTENT & FIELD DEVELOPMENT Chiricoca Field GLJ 3P Reserves GLJ 2P Reserves (Parex WI) (MMBO) (MMBO) YEAR END 2015 2016 2015 2016 Tigana 41 51 28 34 Tarotaro Guadalupe Jacana Tigana 14 45 5 30 Guadalupe…
  11. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 11
    TIGANA GUAD TREND PRODUCTION HISTORY 5,000 IP Range: 500-3,500 bopd 4,500 Tigana-4 Flat production profile Jacana-1 Low decline 4,000 Jacana-5 PRODUCING DAY BOPD 3,500 Tigana Sur-1 3,000 Tigana Norte-1 Jacana-4 2,500…
  12. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 12
    GUADALUPE DEPTH STRUCTURE CAPACHOS DEVELOPMENT AND EXPLORATION POTENTIAL 2017 PLAN Drill 2 firm development wells (Capachos2 and NORTESTE-1 EXPLORATION Capachos Sur2) to earn 50% in the block. Disposal well. NORESTE Legacy Wells…
  13. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 13
    VIM-1 MAGDALENA BASIN: NEXT GROWTH PLATFORM 2017 ACTIVITIES AGUAS BLANCAS(1) PLAYON(1) Light oil opportunity Boranda-1: drilled & cased; Drill 10-15 appraisal wells ongoing testing PLAYON VIM-1 VMM-9 Pipeline Interpreting 525…
  14. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 14
    AGUAS BLANCAS OBJECTIVES AB-9 2017 PROGRAM AB-5 1. Identify oil in place. 2. Develop production strategy. 3. Understanding waterflood potential. DEFINITION OF SUCCESS 1. Achieve Unstimulated IP Rates = 50-200 bopd 700 Target…
  15. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 15
    AGUAS BLANCAS: IDENTIFYING RESERVE* POTENTIAL Footwall 2P Area 2P OOIP 2P Reserves B Area (ac) (MMBO) (MMBO) YE 2015 789 33.5 2.8 YE 2016 832 34.7 3.0 AB-26 AB-5 Footwall 2P Area 2P OOIP 2P Reserves Drilled C Area (ac) (MMBO)…
  16. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 16
    TRANSPORTATION BARRANQUILLA PAREX TRANSPORTATION ALTERNATIVES: CARTAGENA 1. Export Cargo 60% Volume TERMINAL COVENAS Truck/Pipeline Tender process 2. Magdalena River - 35% Volume Truck/Barge Trucking Wellhead sale to Trafigura…
  17. March 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 Corporate March Presentation 2017 March 17…
  18. March 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 LLA-24…
  19. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 19
    APPENDIX SUMMARY OF QUARTERLY RESULTS (Unaudited Results) 2016 2015 2014 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of boe/d) 29.7 31.1 29.8 29.1 28.9 27.4 28.6 27.4 27.0 26.7 22.5 26.5 25.2 19.9…
  20. March 2017 Corporate Presentation – Parex Resources, Inc. – slide 20
    COLOMBIA CURRENT LAND BASE Source: Divestco, February 2017 Corporate Presentation Corporate March Presentation 2017 March 20 2017 20

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