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November 2014 Investor Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Nov 1, 2014 · 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. November 2014 Investor Presentation – Parex Resources, Inc. – slide 1
    Building The Runway November 2014 Corporate Presentation PAREXRESOURCES.COM TSX:PXT
  2. November 2014 Investor Presentation – Parex Resources, Inc. – slide 2
    Snapshot Financial Q3 2014 Operating Netback US 53.39/bbl Q3 2014 Production 25,175 bopd Q3 Funds Flow (Sales 24,490 bopd) US 89 MM Reserves 2P (June 30, 2014) 58 MMboe(1) 2P Reserve Life Index (RLI) of 6.7 years NPV 10 AT 1,326 MM…
  3. November 2014 Investor Presentation – Parex Resources, Inc. – slide 3
    Colombia Focused Barranquilla Santa Marta Cartagena /BLOCK Significant land base VIM-1 2.75 mm gross acres Covenas Working interest in 23 blocks Diversified production base Experienced operator 120 wells drilled 58…
  4. November 2014 Investor Presentation – Parex Resources, Inc. – slide 4
    Track Record of Consistent Growth Production Growth Debt Adjusted Reserve Growth Debt Adjusted 25,000 Production (bopd) Production per share 200 LHS RHS 100 Possible - LHS 0.80 20,000 160 2P - LHS Reserves (MMboe) 80…
  5. November 2014 Investor Presentation – Parex Resources, Inc. – slide 5
    2015 Guidance: Self Funded 30% Growth 2015 Full Year Average Production 28,500-30,000 bopd Wells Capex (Net million) Gross Net Wells Facilities Seismic Total Development/Appraisal (existing fields) 16 9.4 54 91 - 145 Exploration…
  6. November 2014 Investor Presentation – Parex Resources, Inc. – slide 6
    Grow & Diversify Production LLA-16 LLA-20 Los Ocarros Cabrestero LLA-32 LLA-34 LLA-30 Other 27 24 21 Bopd (000) by block 18 15 12 9 6 3 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 est. 2010 2011 2012…
  7. November 2014 Investor Presentation – Parex Resources, Inc. – slide 7
    Building A Sustainable Business Track record of progressing reserves from 3P to cash flow Focus on increasing reserve life index (RLI) & sustainability Proved + Probable 2P Reserves Life After Tax PV10(3) Proved + Probable Proved +…
  8. November 2014 Investor Presentation – Parex Resources, Inc. – slide 8
    Progressively Larger Discoveries Median Llanos Kona Las Maracas Akira / Tigana 100 acres 300 acres 300 acres 500 +1000 acres 1. Size 2. Drive Bottom water drive Edge water drive Edge water drive Oil Water Sandstone…
  9. November 2014 Investor Presentation – Parex Resources, Inc. – slide 9
    Parex Exploration Life Cycle Develop Acquire Test Initial Expand Exploitation Concept Land Concept Development Land Traditional 3-Ways LLA-26, Cebucan Low Side Cabrestero, LLA-34, Closures LLA-10 Stratigraphic LLA-24,…
  10. November 2014 Investor Presentation – Parex Resources, Inc. – slide 10
    Southern Llanos: Play Trends Cabrestero (100% WI, Operator) Santiago Akira development drilling; swing producer Maniceo -Bandola Balay LLA-32 El Palmar LLA 34 (55% WI, Non-operated) Carmentea Los Trompillos Large discoveries at…
  11. November 2014 Investor Presentation – Parex Resources, Inc. – slide 11
    Traditional Llanos Structures Characterized by: Parex deep basin knowledge & operational LLA-40 experience LLA-16 Kona Producing light oil 30-37 API from 5 fields LLA-17 LLA-57 Productive reservoirs: C7, Mirador, Los Ocarros…
  12. November 2014 Investor Presentation – Parex Resources, Inc. – slide 12
    Capachos Farm-in: Ecopetrol Partnership Capachos (50% WI, Operator) Development & exploration opportunities Capachos ANH royalty contract Large structure, light oil, 2 mmbbls produced from 2 wells Leverages our strengths: low cost…
  13. November 2014 Investor Presentation – Parex Resources, Inc. – slide 13
    Deep Llanos: New Play Concepts Industry Foothills Llanos Backland well costs: US 50-75MM US 5-15MM *Transition Zone Parex Performance US 10-15MM *Underexplored due to well depths and historic drilling costs Apply low cost…
  14. November 2014 Investor Presentation – Parex Resources, Inc. – slide 14
    Middle Magdalena Basin: New Play Concepts VMM-9 & VMM-11 (100% WI, Operator) Middle Magdalena Basin Testing of new play concepts: Cold heavy oil production (CHOPS) Conventional structure/sub-thrust VMM-9 La Luna unconventional sand…
  15. November 2014 Investor Presentation – Parex Resources, Inc. – slide 15
    Operating Netback: Colombia Premium Operating Opex & Royalties Brent Price Netback Transportation US /BBL 140 120 9 Realized Price (US /bbl) 8 8 8 15 Price 100 12 8 14 14 26 12 15 7 8 14 26 29 11 Royalties 22 23 29 27…
  16. November 2014 Investor Presentation – Parex Resources, Inc. – slide 16
    Parex Value Proposition Proven Managements track record Self-funded growth Exposure to Brent Oil Pricing LATAM exposure 2014: Building The Runway 16
  17. November 2014 Investor Presentation – Parex Resources, Inc. – slide 17
    Expanding Capacity Colombian Throughput vs. Pipeline Capacity* (mbd) 2500 2,020 2000 1500 1,472 1,377 1,446 1,287 1,133 988 1000 500 Growth Opportunity 0 2010 2011 2012 2013 2014 2015 2016 Fuel Oil Diluent…
  18. November 2014 Investor Presentation – Parex Resources, Inc. – slide 18
    Appendix Block Summary Operated/ Block Working Interest Partners Gross Acres Basin Non-Operated LLA-10 Operated 50% Petro America 189,544 Llanos LLA-16 Operated 100% N/A 157,611 Llanos LLA-17 Operated 63% Geopark 108,726 Llanos LLA-20…
  19. November 2014 Investor Presentation – Parex Resources, Inc. – slide 19
    Appendix Summary of Quarterly Results (Unaudited) 2014 2013 2012 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of bopd) 25.2 19.9 18.4 15.9 17.3 16.2 15.5 14.4 11.4 12.7 10.9 10.4 11.7 Average realized…

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