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May 2018 Investor Presentation – Parex Resources, Inc.

Parex Resources, Inc. · May 18, 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. May 2018 Investor Presentation – Parex Resources, Inc. – slide 1
    Delivering Growth & Value www.parexresources.com TSX:PXT Corporate Presentation May 2018 Corporate Presentation May 2018 Corporate 1 Presentation March 2017 1
  2. May 2018 Investor Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Operating results 2016 2017 2018E Production (boe/d) FY Average 29,715 35,541 43,000 Capital Expenditures(1) - US million 112 212 290 Drilling Program ( wells) 17 38 45-50 Reserves (year-end) 2P Reserves (Dec. 31)(2) -…
  3. May 2018 Investor 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. May 2018 Investor Presentation – Parex Resources, Inc. – slide 4
    REASONS TO OWN PAREX 1. No debt and positive working capital exceeding US206MM (1Q18) 2. High margins: 1Q18 Operating Netback US39/boe Brent 67/bbl 3. Ability to grow within cash flow: o 2017 Growth: production 19.6% yoy & RLI increased…
  5. May 2018 Investor 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 (high-end) 43,000 boe/d CAPEX Capital Expenditure (high-end) US290 MM…
  6. May 2018 Investor 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. May 2018 Investor Presentation – Parex Resources, Inc. – slide 7
    PAREX CASH NETBACK(1) 2018 TARGET CASH NETBACKS(2) 85 80 75 BRENT PRICE 75 REALIZED PRICE (USD/BOE) 70 61.46 67.27 70 65 65 60 (11.29) Differential 60 55 55 50 (7.29) Royalties 45 (5.35) Opex (3) 40 (4.24) Transportation…
  8. May 2018 Investor Presentation – Parex Resources, Inc. – slide 8
    Barranquilla Trucking MARKETING COSTS TRENDING Cartagena Parex Blocks DOWNWARD Pipeline River 25 Terminal Covenas Brent 45/bbl Brent 55/bbl 20 Ayacucho Brent 67/bbl 15 USD/BOE Barrancabermeja 10 5 Vasconia…
  9. May 2018 Investor Presentation – Parex Resources, Inc. – slide 9
    CONSISTENT & SUSTAINABLE GROWTH: PATH TO 50,000* BOPD 0.45 45,000 BOE PER THOUSAND SHARES 0.40 Production Debt Adjusted Production Per Share 40,000 PRODUCTION (BOE/D) 0.35 35,000 0.30 30,000 0.25 25,000 0.20 20,000 0.15…
  10. May 2018 Investor 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. May 2018 Investor Presentation – Parex Resources, Inc. – slide 11
    CONVENTIONAL OIL RESERVES GENERATE VALUE 12.00 Proved+ Proved + Probable+ 10.00 Total Company - 2017YE Proved Probable Possible FD&A USD/boe(1) 6.00 4.71 3.87 2P FD&A (USD/BOE) 8.00 Recycle Ratio (FD&A)(1) 4.4x 5.6x 6.8x 6.00…
  12. May 2018 Investor Presentation – Parex Resources, Inc. – slide 12
    SOUTHERN LLANOS: FOUNDATION FOR GROWTH CABRESTERO (100% WI, operator) Calona LLA-32 Swing producer block Kananaskis Herradura Successful Bacano appraisal in 2017 o 4 wells drilled to date LLA-34 Chiricoca Tilo Max Chachalaca 2018…
  13. May 2018 Investor Presentation – Parex Resources, Inc. – slide 13
    Cabrestero & LLA-34: UNDERSTANDING THE POTENTIAL TSO-8 2017 GLJ 3P Outline Tigana TSO-1 2016 GLJ 3P Outline TSO-5 TSO-2 Field GLJ 3P Reserves GLJ 2P Reserves TSO-7 (Parex WI) (MMBO) (MMBO) TSO-3 TSO-4 YEAR END 2016 2017 2016 2017…
  14. May 2018 Investor 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 3.5 TN9 TN2 mmbbls(1) since June 2014 TN3 TN1 TN6 o Expanding Tigana North area T2 TN8 o Focus is…
  15. May 2018 Investor 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, testing.…
  16. May 2018 Investor Presentation – Parex Resources, Inc. – slide 16
    VIM-1 Pipeline MAGDALENA BASIN: Oil fields Gas fields NEXT GROWTH PLATFORM De MARES(1) VIM-1 Tested Coyote-1, produced oil Identifying prospects from 3D Evaluate follow-up drilling Seismic data locations Drill 2 exploration…
  17. May 2018 Investor 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. Stimulate 2 wells to…
  18. May 2018 Investor Presentation – Parex Resources, Inc. – slide 18
    VIM-1: APURE PROSPECT Lower Magdalena Basin Multiple structural & stratigraphic El Dificil Field Discovered: 1943 Cum Production = 12 MMBO, 352 BCF plays on block VIM 1 Apure Prospect Main target is a carbonate reservoir draped…
  19. May 2018 Investor 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/Lower Magdalena Basins 4. Expand portfolio through Business Development Corporate…
  20. May 2018 Investor 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. May 2018 Investor Presentation – Parex Resources, Inc. – slide 21
    APPENDIX SUMMARY OF QUARTERLY RESULTS (Unaudited Results) 2018 2017 2016 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of boe/d) 40.6 35.5 39.0 36.2 34.3 32.6 29.7 31.1 29.8 29.1 28.9 Brent Price (/bbl) 67 55 62…
  22. May 2018 Investor Presentation – Parex Resources, Inc. – slide 22
    COLOMBIA CURRENT LAND BASE LLA-16 Source: Divestco - February 2017 Corporate Presentation May 2018 Corporate 2222 Presentation March 2017
  23. May 2018 Investor Presentation – Parex Resources, Inc. – slide 23
    Corporate Presentation May 2018 Corporate 2828 Presentation March 2017

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