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December 2018 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Dec 17, 2018 · 26 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. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 1
    Growth + Shareholder Returns www.parexresources.com TSX:PXT Corporate Presentation December 2018 Corporate Presentation December 1 2018 March 2017 Corporate Presentation 1
  2. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Operating results 2017 2018E 2019E(1) Production (boe/d) FY Average 35,541 44,250 53,000 Capital Expenditures(2) - US million 212 320 215 Drilling Program ( wells) 38 55-60 45 Reserves (year-end) 2P Reserves…
  3. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 3
    WHY INVEST IN PAREX 1. No debt and positive Q318 WC exceeding US143MM 675 2. High margins 600 Working Capital 525 o Q318 Operating Netback US44/boe Brent 76/bbl 450 CFO at 60/Bbl 3. Ability to grow within cash flow: CFO at 55/Bbl…
  4. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 4
    WHERE DO WE GO FROM HERE 2019 2020 - 2022 Production New Shareholder Deliver Top Replenish & Return Free Growth & Growth: Return: Quartile Per Diversify Cash Flow to Free Cash Tight Oil NCIB Share Portfolio Shareholders Flow &…
  5. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 5
    DELIVERING CONSISTENT SHAREHOLDER VALUE PRODUCTION PER SHARE (DEBT ADJUSTED) 2P RESERVES (DEBT ADJUSTED) 350 1,200 300 DAPS (BOE/MM BASIC SHARES) 1,000 (MBOE/MM BASIC SHARES) 250 800 2P RESERVES 200 600 150 400…
  6. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 6
    BUSINESS IS STRONG PRODUCTION GROWTH AND FREE CASH FLOW 0.55 55,000 Production Debt Adjusted Production Per Share 0.50 50,000 BOE PER THOUSAND SHARES 0.45 45,000 0.40 40,000 0.35 35,000 0.30 30,000 0.25 25,000 0.20 20,000…
  7. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 7
    GUIDANCE: CASH FLOW FUNDED GROWTH ASSUMPTIONS Capex by Type Capex By Block Bus. Dev 2018FY 2019FY(1) Other Oil (Brent)(US/bbl) 72 60 Bus. Dev Exploration Fortuna FFO netback(2)(3)(4) (US/boe) 33 25 Capachos Production (Boe/d)…
  8. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 8
    2019 PLAN: HIGH NETBACKS ENABLE SHAREHOLDER RETURNS 675 600 Working OPTIONALITY 525 Capital (1) 450 CFO at 60/Bbl (2) CFO at 185 375 55/Bbl Capex: 200 - 230 300 225 CFO at 15 75 50/Bbl 150 50 75 75 0 Sources of Cash…
  9. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 9
    PAREX CASH NETBACK(1) 2019 TARGET CASH NETBACKS(2) BRENT PRICE 80 75 74.97 75.84 70 67.27 (14.15) Differential 65 65 60 60 REALIZED PRICE (USD/BOE) 55 (9.30) Royalties 55 50 50 (5.40) Opex 45 (2.58) Transportation (1.76)…
  10. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 10
    2019 DRILLING PROGRAM: 45 GROSS WELLS PLANNED VIM-1: Lower Magdalena o La Belleza well Llanos Basin wells Middle Magdalena wells o Capachos 1 o Aguas Blancas 15 o SoCa 21 o DeMares/Playon 3 o CPO-11 1 o Fortuna 3 COLOMBIA…
  11. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 11
    SOLID FOUNDATION SUPPORTS GROWTH TRACK RECORD OF PROGRESSING RESERVES* FROM 3P TO CASH FLOW Dec. 31, Proved + Probable+ Proved + Proved Annual 2P Reserve Life Possible Probable Production Index Based on Annualized Millions of Barrels…
  12. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 12
    CONVENTIONAL OIL RESERVES GENERATE VALUE Proved+ Proved + Probable+ Total Company - 2017YE Proved Probable Possible (1) FD&A USD/boe(1) 6.00 4.71 3.87 Recycle Ratio (FD&A)(1) 4.4x 5.6x 6.8x After Tax NPV10% - CAD/sh(2) 12.81…
  13. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 13
    SOCA: FOUNDATION FOR GROWTH Calona LLA-32 CABRESTERO (100% WI, operator) Kananaskis Swing producer block LLA-34 Chiricoca Tilo o Production capability 8,000 bopd Chachalaca Successful at Bacano/Totoro in 2018 Tarotaro Tigana…
  14. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 14
    SOCA FOUNDATION FOR FUTURE GROWTH Net production Calona 50,000 LLA-32 40,000 Kananaskis 30,000 LLA-34 BOE/D Chiricoca Tilo 20,000 Chachalaca 10,000 Tarotaro 0 Tigana 2012 2013 2014 2015 2016 2017 2018E 2019E Net…
  15. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 15
    CAPACHOS DEVELOPMENT AND GUADALUPE DEPTH STRUCTURE EXPLORATION POTENTIAL CAPACHOS (50% WI, Operator) Producing at restricted rate of 2,000 gross bopd ANDINA NORTE-1 o Capachos-2, Guadalupe on production o Andina-1: Guadalupe on…
  16. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 16
    CAPACHOS: ANDINA-1 WELL Andina Norte Prospect Andina-1 Andina-2 Andina Norte prospect will test the next fault compartment in 2019 Mirador Prospective zones: Guadalupe Andina-1 Andina-2 Mirador n.a Guadalupe Producing 1,000 bopd…
  17. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 17
    CPO-11: EXPANDING LLANOS INVENTORY Farm-in: drill remaining 1 well & LLA-32 acquire 2D seismic to earn 50% WI LLA-34 Cabrestero Apply key learnings from Cabrestero & LLA-34 CPO-11 Numerous additional leads and Rubiales prospects…
  18. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 18
    Cartagena Trucking MAGDALENA BASIN: VIM-1 Parex Blocks Terminal Covenas Pipeline NEXT GROWTH PLATFORM River De MARES PLAYON FORTUNA Evaluate follow-up drilling Drill Boranda-2 in 2019 locations 2 exploration wells planned…
  19. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 19
    Fortuna FORTUNA Acquired for 17MM 2019 Plan oDrill 2 exploration wells & 1 development well oAcquire seismic Target Lisama and La Luna Formations Corporate Presentation December 1919 2018 March 2017 Corporate Presentation
  20. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 20
    2019 PLANNING AGUAS BLANCAS EXECUTION 1. 2019 Plan: o D&C 15 new wells o Tie-in existing & new pads to water injection facility Phase II Dev. Area o Tie-in and sell gas production to nearby pipeline 2. Infill producer-injector patterns…
  21. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 21
    VIM-1: TARGET GAS La Belleza Prospect Proven play on Porquero Formation sandstone reservoirs La Creciente Applying 3D seismic Amplitude Variation with Offset (AVO) has achieved a very high success rate Gas pipelines…
  22. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 22
    Andina-1 2019 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…
  23. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 23
    APPENDIX BLOCK SUMMARY Block Operated/Non-Operated Working Interest Partners Gross Acres(1) Basin 1 LLA-10 (2) 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…
  24. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 24
    APPENDIX SUMMARY OF QUARTERLY RESULTS(1) (Unaudited Results) 2018 2017 2016 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of boe/d) 45.0 42.6 40.6 35.5 39.0 36.2 34.3 32.6 29.7 31.1 29.8 29.1 28.9 Brent…
  25. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 25
    COLOMBIA CURRENT LAND BASE Source: ArcGIS, Parex Resources November 2018 Corporate Presentation December 2525 2018 March 2017 Corporate Presentation
  26. December 2018 Corporate Presentation – Parex Resources, Inc. – slide 26
    Corporate Presentation December 3131 2018 March 2017 Corporate Presentation

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