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September 2017 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Sep 14, 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. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 1
    Solid Foundation. Building New Platforms. www.parexresources.com TSX:PXT Corporate Presentation September 2017 Corporate Presentation September 2017 Corporate Presentation 1 March 2017 1
  2. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Operating results 2016 2017E Production (boe/d) FY Average 29,715 35,000 Capital Expenditures(1) (million) US 112 US 225 Exploration Drilling ( prospects) 7 12 Appraisal Drilling ( wells) 4 13-18 Development Drilling (…
  3. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 3
    REASONS TO OWN PAREX 1. No debt and positive WC of US128MM 2. High margins: Q217 Operating NetbackUS27/boe Brent 51/bbl 3. Ability to grow within cash flow: o 2016 Growth: production 8.4% y-y & RLI increases to 10 years from 8 years o…
  4. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 4
    2017 GUIDANCE: CASH FLOW FUNDED GROWTH Exploration Capex Maintenance Capex 12 wells 12 wells 2,500 boe/d 30,000 boe/d Assumptions 85-90MM 45-55MM Oil (Brent) US 50/bbl FFO netback(1)(2) US 20/boe Production 35,000 boe/d CAPEX Capital…
  5. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 5
    PAREX CASH NETBACK* 2017 TARGET CASH NETBACKS** 60 Brent 54.61 Brent 51.13 Brent 50.87 50 REALIZED PRICE (USD/BOE) (4.03) Royalties (4.03) Differential 40 (10.91) Transportation 30 (5.31) Opex (2.47) G&A/Finance & Other…
  6. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 6
    Trucking MARKETING COSTS TRENDING Parex Blocks DOWNWARD Pipeline BARRANQUILLA River Brent 56/bbl 16 CARTAGENA 14 Brent 45/bbl Brent TERMINAL COVENAS 12 50/bbl 10 /BOE 8 BARRANCABERMEJA 6 4 VASCONIA 2…
  7. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 7
    CONSISTENT & SUSTAINABLE GROWTH: PATH TO 50,000 BOPD 55,000 AVERAGE DAILY PRODUCTION 50,000 45,000 40,000 35,000 RLI 10 yr (BOE/D) 30,000 RLI 8 yr RLI 7 yr 29,715 25,000 27,434 20,000 RLI 5 yr 22,526 15,000 RLI 3 yr…
  8. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 8
    SOLID FOUNDATION SUPPORTS GROWTH TRACK RECORD OF PROGRESSING RESERVES* FROM 3P TO CASH FLOW Proved + Probable Annual 2P Reserve Life Proved + Probable Proved Index + Possible (mmboe) (mmboe) Production based on annualized (mmboe)…
  9. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 9
    CONVENTIONAL OIL RESERVES: INDUSTRY LEADING RESULTS 18 Total Company(1) 2016 PDP 1P 2P FD&A /boe 6.47 6.99 3.40 15 Recycle Ratio (FD&A) 2.9x 2.7x 5.5x 12 2P FD&A (USD/BOE) Company(3) 2P Reserves 3 Yr 2P 3 Yr PDP 3 Yr 2P Total…
  10. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 10
    SOUTHERN LLANOS: FOUNDATION FOR GROWTH Calona CABRESTERO (100% WI, operator) LLA-32 Kananaskis Herradura Akira: swing producer Chiricoca Successful Bacano appraisal in 2017 (4 wells to date) LLA-34 Tilo Chachalaca Tigana LLA-34…
  11. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 11
    Cabrestero & LLA-34: 2017 FOCUS - TEST EXTENT 2015 GLJ 3P Outline Field GLJ 3P Reserves GLJ 2P Reserves 2016 GLJ 3P Outline Tigana Sur Oeste-1 2017 Prospective Area YTD (Parex WI) (MMBO) (MMBO) YEAR END 2015 2016 2015 2016 Tigana…
  12. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 12
    CAPACHOS DEVELOPMENT AND GUADALUPE DEPTH STRUCTURE EXPLORATION POTENTIAL 2017 PLAN Drill 2 firm development wells (Capachos2 and NORESTE-1 EXPLORATION Capachos Sur2) to earn 50% in the block. Development wells are targeting proven…
  13. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 13
    VIM-1 Pipeline Oil fields Gas fields MAGDALENA BASIN: NEXT GROWTH PLATFORM AGUAS BLANCAS(1) PLAYON(1) Light oil opportunity Drill follow-up to Boranda-1 Drill appraisal wells PLAYON VIM-1 VMM-9 Interpreting 525 km2 of 3D Acquire…
  14. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 14
    VMM-11 & VMM-9 PROSPECTIVITY VMM-9 VMM 9 Strike Slip Fault Structural Play o Dominant play type in the basin o Includes many of the major discoveries in the basin (Velasquez, Palagua, Casabe, Llanito) Niagara Exploration Well…
  15. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 15
    SUMMARY OF THE La Luna 1 AGUAS BLANCAS OPPORTUNITY AB-6 1. Appraise southern extent - identify AB-7 AB-27 AB-4 oil in place AB-2 AB-29 AB-26 AB-5 AB-21 AB-19 2. Demonstrate development capital West Area (FW) I Pad efficiencies &…
  16. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 16
    SUMMARY: UPCOMING EVENTS 1. Continued quarterly production growth 2. Test LLA-34/Cabrestero boundaries 3. Explore new blocks Bacano Field Corporate Presentation September 2017 Corporate Presentation 1616 March 2017
  17. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 17
    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-26…
  18. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 18
    APPENDIX SUMMARY OF QUARTERLY RESULTS (Unaudited Results) 2017 2016 2015 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of boe/d) 34.3 32.6 29.7 31.1 29.8 29.1 28.9 27.4 28.6 27.4 27.0 26.7 Brent Price (/bbl) 51…
  19. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 19
    COLOMBIA CURRENT LAND BASE Source: Divestco, February 2017 Corporate Presentation September 2017 Corporate Presentation 1919 March 2017
  20. September 2017 Corporate Presentation – Parex Resources, Inc. – slide 20
    Corporate Presentation September 2017 Corporate Presentation 2525 March 2017

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