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March 2018 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Mar 6, 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. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 1
    Delivering Growth & Value www.parexresources.com TSX:PXT Corporate Presentation March 2018 Corporate Presentation March Corporate2018 1 Presentation March 2017 1
  2. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Operating results 2016 2017 2018E Production (boe/d) FY Average 29,715 35,541 42,000 Capital Expenditures(1) - US million 112 212 275 Drilling Program ( wells) 17 38 45-50 Reserves (year-end) 2P Reserves (Dec. 31)(2) -…
  3. March 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. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 4
    REASONS TO OWN PAREX 1. No debt and positive working capital exceeding US163 MM (4Q17) 2. High margins: 4Q17 Operating Netback US35/boe Brent 62/bbl 3. Ability to grow within cash flow: o 2017 Growth: production 19.6% y-y & RLI…
  5. March 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 20/boe Production (mid-point) 42,000 boe/d CAPEX Capital Expenditure (mid-point) US275 MM…
  6. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 6
    2018 DRILLING PROGRAM BLOCK Exploration/ Development Wells () Appraisal Base: Llanos Conventional Cabrestero 1-2 4-5 5-7 LLA-34 4 14 18 Other Llanos 2-3 - 2-3 Exploration Big E Capachos & VIM-1 2-3 1 3-4 Exploitation: Tight Oil &…
  7. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 7
    PAREX CASH NETBACK* 2018 TARGET CASH NETBACKS** 80 75 70 BRENT PRICE 70 REALIZED PRICE (USD/BOE) 65 65 61.46 60 60 (5.58) Royalties 55 54.75 55 (4.56) Differential 50 45 (10.52) Transportation 40 (5.41) Opex 35 (4.64)…
  8. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 8
    BARRANQUILLA Trucking MARKETING COSTS TRENDING Parex Blocks DOWNWARD Pipeline CARTAGENA River TERMINAL COVENAS 20 Brent 56/bbl 16 Brent 45/bbl Brent 55/bbl 12 USD/BOE 8 BARRANCABERMEJA 4 VASCONIA HIDROCASANARE…
  9. March 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. March 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 2P Reserve Possible Probable Production Life Index Based on Annualized Millions of Barrels…
  11. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 11
    CONVENTIONAL OIL RESERVES GENERATE VALUE 12.00 Proved+ Proved + Probable+ 10.00 Total Company - 2017YE Proved Probable Possible 2P FD&A (USD/BOE) FD&A USD/boe(1) 6.00 4.71 3.87 8.00 Recycle Ratio (FD&A)(1) 4.4x 5.6x 6.8x…
  12. March 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. March 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. March 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. March 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. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 16
    Pipeline VIM-1 Oil fields MAGDALENA BASIN: Gas fields 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) Light oil opportunity Tested…
  17. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 17
    SUMMARY OF THE AGUAS BLANCAS OPPORTUNITY 1. Drill 6 development wells: extend water flood pattern Phase II Dev. Area 2. Drill 4 appraisal wells: test southern extent & identify oil in place West Area (FW) 3. Sanction Phase 2…
  18. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 18
    VIM-1: APURE PROSPECT Lower Magdalena Basin Multiple structural & El Dificil Field Discovered: 1943 Cum Production = 12 MMBO, 352 BCF stratigraphic plays on block VIM 1 Apure Prospect Main target is a carbonate reservoir draped…
  19. March 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. March 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 10,057 Llanos 3 LLA-26 Operated 100% N/A 93,376 Llanos 4…
  21. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 21
    APPENDIX SUMMARY OF QUARTERLY RESULTS (Unaudited Results) 2017 2016 2015 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of boe/d) 35.5 39.0 36.2 34.3 32.6 29.7 31.1 29.8 29.1 28.9 27.4 28.6 27.4 27.0…
  22. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 22
    COLOMBIA CURRENT LAND BASE LLA-16 Source: Divestco, February 2017 Corporate Presentation March Corporate2018 2222 Presentation March 2017
  23. March 2018 Corporate Presentation – Parex Resources, Inc. – slide 23
    Corporate Presentation March Corporate2018 2828 Presentation March 2017

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