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2017 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Nov 1, 2017 · 22 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. 2017 Corporate Presentation – Parex Resources, Inc. – slide 1
    Solid Foundation. Building New Platforms. www.parexresources.com TSX:PXT Corporate Presentation November 2017 Corporate Presentation November 1 2017 March 2017 Corporate Presentation 1
  2. 2017 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Operating results 2016 2017E Production (boe/d) Q4 Average 31,049 38,500 Capital Expenditures(1) (million) US 112 US 225 Exploration Drilling ( prospects) 7 15 Appraisal Drilling ( wells) 4 13-15 Development Drilling (…
  3. 2017 Corporate Presentation – Parex Resources, Inc. – slide 3
    REASONS TO OWN PAREX 1. No debt and positive WC of US140MM (3Q17) 2. High margins: 3Q17 Operating Netback US28/boe Brent 52/bbl 3. Ability to grow within cash flow: o 2016 Growth: production 8.4% y-y & RLI increases to 10 years from 8…
  4. 2017 Corporate Presentation – Parex Resources, Inc. – slide 4
    2018 GUIDANCE: CASH FLOW FUNDED GROWTH Maintenance Capex 14 wells 38,000 boe/d Assumptions 90MM Oil (Brent) US 55/bbl FFO netback(1)(2) US 21/boe Production (mid-point) 42,000 boe/d CAPEX Capital Expenditure (mid-point) US 275 MM…
  5. 2017 Corporate Presentation – Parex Resources, Inc. – slide 5
    2018 DRILLING PROGRAM BASIN BLOCK Well TYPE () Wells () Exploration App/Dev LLANOS Cabrestero - 3-4 3-4 LLA-34 5 14 19 LLA-10, LLA-30 & LLA-32 3 - 3 MAGADALENA Aguas Blancas - 10-12 10-12 VMM-11 - 4 4 DeMares - 1-2 1-2 LLANOS &…
  6. 2017 Corporate Presentation – Parex Resources, Inc. – slide 6
    PAREX CASH NETBACK* 2018 TARGET CASH NETBACKS** 70 BRENT PRICE 60 60 55 REALIZED PRICE (USD/BOE) 54.61 50.87 52.17 50 (3.94) Royalties 50 (4.10) Differential 40 (10.72) Transportation 30 (5.51) Opex (3.2) G&A/Finance &…
  7. 2017 Corporate Presentation – Parex Resources, Inc. – slide 7
    Trucking MARKETING COSTS TRENDING Parex Blocks DOWNWARD Pipeline BARRANQUILLA River 21 CARTAGENA Brent 56/bbl 18 Brent 45/bbl 15 TERMINAL COVENAS Brent 50/bbl 12 /BOE 9 6 BARRANCABERMEJA 3 0 Q1'15 Q2'15…
  8. 2017 Corporate Presentation – Parex Resources, Inc. – slide 8
    CONSISTENT & SUSTAINABLE GROWTH: PATH TO 50,000* BOPD 0.45 45,000 Production Debt Adjusted Production Per Share 0.40 RLI 10 yr 40,000 BOE PER THOUSAND SHARES 0.35 35,000 PRODUCTION (BOE/D) RLI 8 yr 0.30 RLI 7 yr 30,000…
  9. 2017 Corporate Presentation – Parex Resources, Inc. – slide 9
    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)…
  10. 2017 Corporate Presentation – Parex Resources, Inc. – slide 10
    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…
  11. 2017 Corporate Presentation – Parex Resources, Inc. – slide 11
    SOUTHERN LLANOS: FOUNDATION FOR GROWTH CABRESTERO (100% WI, operator) Calona Akira: swing producer LLA-32 Kananaskis Herradura Successful Bacano appraisal in 2017 Chiricoca LLA-34 Tilo o 4 wells drilled to date; 2 more wells…
  12. 2017 Corporate Presentation – Parex Resources, Inc. – slide 12
    Cabrestero & LLA-34: 2017 FOCUS - TEST EXTENT 2015 GLJ 3P Outline Tigana Suroeste-1 Field GLJ 3P Reserves GLJ 2P Reserves 2016 GLJ 3P Outline (Parex WI) (MMBO) (MMBO) 2017 Prospective Area YTD TSO-7 TSO-3 YEAR END 2015 2016 2015 2016…
  13. 2017 Corporate Presentation – Parex Resources, Inc. – slide 13
    LLANOS-34 BRIDGING JACANA & TIGANA FIELDS TN4 TN2 TN3 Testing Tigana Suroeste-7 and plan to drill TN1 2 additional wells T2 Tigana T3 Tigana-Norte 1 has produced 3.2 mmbbls TS3 T4 since June 2014 TS2 TS1 TS7 TS4 o Expanding…
  14. 2017 Corporate Presentation – Parex Resources, Inc. – slide 14
    CAPACHOS DEVELOPMENT AND GUADALUPE DEPTH STRUCTURE EXPLORATION POTENTIAL NEXT STEPS Drill 2 firm development wells to earn 50% in the block. NORESTE-1 EXPLORATION o Capachos-2 to commence producing 2,000 bopd (restricted rate) o…
  15. 2017 Corporate Presentation – Parex Resources, Inc. – slide 15
    VIM-1 Pipeline Oil fields Gas fields MAGDALENA BASIN: NEXT GROWTH PLATFORM VMM-11 PLAYON(1) 4 wells scheduled in 2018 Drill follow-up to Boranda-1 AGUAS BLANCAS(1) VMM-9 PLAYON Light oil opportunity Acquire 400 km2 of 3D…
  16. 2017 Corporate Presentation – Parex Resources, Inc. – slide 16
    VMM-11 & VMM-9 PROSPECTIVITY VMM-9 Structural Play o Dominant play type in the basin o Includes many of the major discoveries in the basin (Velasquez, Palagua, Casabe, Llanito) Glauca o Successfully drilled Glauca-1 and Glauca-2;…
  17. 2017 Corporate Presentation – Parex Resources, Inc. – slide 17
    SUMMARY OF THE La Luna 1 AGUAS BLANCAS OPPORTUNITY AB-6 1. Drill 10-12 wells in 2018 AB-7 AB-27 AB-4 AB-2 AB-29 AB-26 2. Appraise southern extent of the AB-21 AB-19 AB-5 west field - identify oil in place West Area (FW) K Pad I…
  18. 2017 Corporate Presentation – Parex Resources, Inc. – slide 18
    SUMMARY: UPCOMING EVENTS 1. Self-funded industry leading production growth 2. Test LLA-34/Cabrestero boundaries 3. Diversify portfolio Bacano Field Corporate Presentation November 1818 2017 March 2017 Corporate Presentation
  19. 2017 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 LLA-26…
  20. 2017 Corporate Presentation – Parex Resources, Inc. – slide 20
    APPENDIX SUMMARY OF QUARTERLY RESULTS (Unaudited Results) 2017 2016 2015 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of boe/d) 36.2 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…
  21. 2017 Corporate Presentation – Parex Resources, Inc. – slide 21
    COLOMBIA CURRENT LAND BASE Source: Divestco, February 2017 Corporate Presentation November 2121 2017 March 2017 Corporate Presentation
  22. 2017 Corporate Presentation – Parex Resources, Inc. – slide 22
    Corporate Presentation November 2727 2017 March 2017 Corporate Presentation

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