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February 2018 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Feb 14, 2018 · 23 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. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 1
    Delivering Growth & Value www.parexresources.com TSX:PXT Corporate Presentation February 2018 Corporate Presentation February 1 2018 March 2017 Corporate Presentation 1
  2. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Operating results 2016 2017E 2018E Production (boe/d) FY Average 29,715 35,540 42,000 Capital Expenditures(1) - US million 112 225 275 Drilling Program ( wells) 17 38 44-50 Reserves (year-end) 2P Reserves (Dec. 31)(2) -…
  3. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 3
    DELIVERING CONSISTENT SHAREHOLDER VALUE PRODUCTION PER SHARE (DEBT ADJUSTED) 2P RESERVES (DEBT ADJUSTED) 300 1,200 DAPS (BOE/MM BASIC SHARES) (MBOE/MM BASIC SHARES) 250 1,000 200 800 2P RESERVES 150 600 100 400 50…
  4. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 4
    REASONS TO OWN PAREX 1. No debt and positive working capital exceeding US160 MM (4Q17E) 2. High margins: 4Q17E Operating Netback US26/boe Brent 62/bbl 3. Ability to grow within cash flow: o 2017 Growth: production 19.6% y-y & RLI…
  5. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 5
    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) US275 MM…
  6. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 6
    2018 DRILLING PROGRAM BASIN BLOCK Exploration Development Wells () Llanos Cabrestero - 3-4 3-4 LLA-34 5 14 19 LLA-10, LLA-30 & LLA-32 3 - 3 Magdalena Aguas Blancas - 10-12 10-12 DeMares - 5-6 5-6 Llanos & Magdalena Capachos,…
  7. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 7
    PAREX CASH NETBACK* 2018 TARGET CASH NETBACKS** 70 65 BRENT PRICE 60 REALIZED PRICE (USD/BOE) 60 54.61 50.87 52.17 55 50 (3.94) Royalties 50 (4.10) Differential 40 (10.72) Transportation 30 (5.51) Opex (3.2) G&A/Finance &…
  8. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 8
    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…
  9. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 9
    CONSISTENT & SUSTAINABLE GROWTH: PATH TO 50,000* BOPD 0.45 50,000 BOE PER THOUSAND SHARES 0.40 Production Debt Adjusted Production Per Share 45,000 40,000 PRODUCTION (BOE/D) 0.35 0.30 35,000 30,000 0.25 25,000 0.20…
  10. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 10
    SOLID FOUNDATION SUPPORTS GROWTH TRACK RECORD OF PROGRESSING RESERVES* FROM 3P TO CASH FLOW Dec. 31, Proved + Probable+ Proved + Proved Annual Reserve Life Possible Probable Production Index Based on Annualized Millions of Barrels of…
  11. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 11
    CONVENTIONAL OIL RESERVES 12.00 Proved+ Proved + Probable+ 10.00 Total Company - 2017YE Proved Probable Possible 2P FD&A (USD/BOE) FD&A USD/boe(1) 6.03 4.73 3.88 8.00 Recycle Ratio (FD&A)(1) 4.4x 5.5x 6.8x 6.00 Net Present…
  12. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 12
    SOUTHERN LLANOS: FOUNDATION FOR GROWTH CABRESTERO (100% WI, operator) LLA-32 Calona Swing producer block Kananaskis Herradura Successful Bacano appraisal in 2017 o 4 wells drilled to date LLA-34 Chiricoca Tilo Chachalaca 2018…
  13. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 13
    Cabrestero & LLA-34: UNDERSTANDING THE POTENTIAL 2017 GLJ 3P Outline Tigana Suroeste-1 2016 GLJ 3P Outline TSO-2 Field GLJ 3P Reserves GLJ 2P Reserves TSO-7 (Parex WI) (MMBO) (MMBO) TSO-3 YEAR END 2016 2017 2016 2017 10 Tigana…
  14. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 14
    Appraisal/Dev LLANOS-34 GLJ 3P (2017YE) Faults BRIDGING JACANA & TIGANA FIELDS TN5 TN4 TN7 Tigana-Norte 1 has produced 3.4 TN9 TN2 mmbbls(1) since June 2014 TN3 TN1 o Expanding Tigana North area TN6 T2 o Focus is Guadalupe…
  15. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 15
    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 drilled, restricted production. o Capachos Sur-2 drilled to…
  16. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 16
    VIM-1 Pipeline Oil fields Gas fields MAGDALENA BASIN: NEXT GROWTH PLATFORM VMM-9 & VMM-11 PLAYON(1) Acquire 400 km2 of 3D Seismic Drill follow-up to Boranda-1 AGUAS BLANCAS(1) De MARES(1) PLAYON Light oil opportunity Tested…
  17. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 17
    VIM-1: APURE PROSPECT Lower Magdalena Basin Multiple structural & El Dificil Field Discovered: 1943 Ultimate Rec. = 15 MMBO, 395 BCF stratigraphic plays on block VIM 1 Cum Production = 12 MMBO, 352 BCF Apure Prospect Main…
  18. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 18
    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…
  19. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 19
    2018 SUMMARY 1. Self-funded industry leading production growth 2. Grow & develop Southern Casanare blocks 3. Prove play concepts in Middle Magdalena Basin 4. Expand portfolio through Business Development Corporate Presentation…
  20. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 20
    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…
  21. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 21
    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…
  22. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 22
    COLOMBIA CURRENT LAND BASE Source: Divestco, February 2017 Corporate Presentation February 2222 2018 March 2017 Corporate Presentation
  23. February 2018 Corporate Presentation – Parex Resources, Inc. – slide 23
    Corporate Presentation February 2828 2018 March 2017 Corporate Presentation

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