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AGM Presentation – Parex Resources, Inc.

Parex Resources, Inc. · May 8, 2019 · 19 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. AGM Presentation – Parex Resources, Inc. – slide 1
    DISCIPLINED GROWTH + SHAREHOLDER RETURNS OUR 10 YEAR JOURNEY AGM PRESENTATION MAY 8, 2019 AGM PRESENTATION MAY 2019 1
  2. AGM Presentation – Parex Resources, Inc. – slide 2
    WHAT PAREX HAS ACCOMPLISHED IN 10 YEARS Parex as of: Inception Today Production(boe/d) Nil 52,000 Since inception 2P Reserves (MMboe)(1) Nil 186 Parex has delivered Material growth and Working Capital (US MM)(2) 105 207 Value…
  3. AGM Presentation – Parex Resources, Inc. – slide 3
    WHAT PAREX HAS ACCOMPLISHED IN 10 YEARS PRODUCTION PER SHARE (DEBT ADJUSTED) 2P RESERVES PER SHARE (DEBT ADJUSTED) 450 1600 BOE/MILLION WA BASIC SHARES 400 1400 MBOE/MM BASIC SHARES 350 300 1200 250 1000 200 800 150…
  4. AGM Presentation – Parex Resources, Inc. – slide 4
    WHERE ARE WE TODAY 1. 50,000 bopd milestone achieved 2. 3rd largest producer in Colombia 3. No debt and positive Q119 WC of US207MM 4. High margin operation o Q119 funds flow netback US28/boe Brent 64/bbl CFO at 60/bbl CFO at 55/bbl 5.…
  5. AGM Presentation – Parex Resources, Inc. – slide 5
    OUR BUSINESS IS LOW COST Parex Cash Netback(1) 2019 Target Cash Netbacks(2) 80 74.97 75.84 75 75 70 67.27 68.32 70 65 63.83 65 60 60 (11.50) 55 50 (6.39) 45 USD/BOE (5.71) 40 (4.06) 35 (3.18) 30 (5.34) 25 20 15 10…
  6. AGM Presentation – Parex Resources, Inc. – slide 6
    2019 PLAN: HIGH NETBACKS ENABLE SHAREHOLDER RETURNS 900 850 800 2018YE 750 Working 700 Capital Optionality 650 CFO at 75/bbl (+/- 400) MILLIONS (USD) 600 CFO at 70/bbl 550 500 CFO at 65/bbl 450 CFO at 60/bbl 226(1) 400…
  7. AGM Presentation – Parex Resources, Inc. – slide 7
    INDUSTRY LEADING FREE CASH FLOW RETURN Capital allocation strategy for optionality 27% o Projects must compete for capital internally o Returning capital to shareholder o Investment/capital strategy has not changed just because…
  8. AGM Presentation – Parex Resources, Inc. – slide 8
    FINDING & DEVELOPING CONVENTIONAL OIL RESERVES CREATES VALUE 9 Proved+ 8 Proved + Probable+ 2018 Year-End Proved Probable Possible 7 FD&A USD/boe(1) 7.03 7.29 7.59 6 2P FD&A (USD/BOE)(1) Recycle Ratio (FD&A)(1) 4.5x 4.3x 4.1x…
  9. AGM Presentation – Parex Resources, Inc. – slide 9
    DIVERSIFIED 2019 DRILLING PROGRAM 46 Gross Wells Planned Llanos Basin Expl. Wells Dev. Wells Lower Magdalena o Merecure 1 - o Capachos 1 - VIM-1 o SoCa 4 17 o CPO-11 1 - Fortuna Playon Middle Magdalena DeMares Middle Magdalena…
  10. AGM Presentation – Parex Resources, Inc. – slide 10
    FOUNDATION FOR GROWTH: APPRAISE, DEVELOP & GENERATE FCF ODL Offloading Faults GLJ 3P (2018YE) NET WORKING INTEREST PRODUCTION Exploration Wells LLA-32 Pipeline Carmentea (SOCA AREA) 50 Calona 45 AZOGUE Kananaskis 40 LLA-34…
  11. AGM Presentation – Parex Resources, Inc. – slide 11
    CAPACHOS DEVELOPMENT AND EXPLORATION POTENTIAL Guadalupe depth structure Capachos (50% WI, Operator) Located in the Arauca District near the Venezuelan border ANDINA NORTE-1 Producing at restricted rate of 5,000 gross bopd o…
  12. AGM Presentation – Parex Resources, Inc. – slide 12
    CAPACHOS EXPLORATION POTENTIAL Andina Norte prospect drilled the northern Andina-2 Andina-1 Andina Norte Prospect fault compartment o Well is cased and currently testing Mirador Prospective Zones Andina-1 Andina-2 Mirador Mirador…
  13. AGM Presentation – Parex Resources, Inc. – slide 13
    WE GIVE BACK TO THE COMMUNITIES WHERE WE OPERATE What we do and how we impact the community At Capachos, we established open dialog with stakeholders Araucas leaders visited our Casanare operations to assess our performance record…
  14. AGM Presentation – Parex Resources, Inc. – slide 14
    CORPORATE ESG INITIATIVES Water for All (US1.6 Million) Home Improvement (US4.9 Million) Projects for Taxes (US340,000) Invest in clean water supply infrastructure Align with local development plans Government of Colombia program to…
  15. AGM Presentation – Parex Resources, Inc. – slide 15
    VIDEO INSTALLATION OF WEATHER RADAR IN CARIMAGUA Installation of weather radar capable of delivering early warning signs for weather conditions Covers 1.2 million people AGM PRESENTATION MAY 2019 15
  16. AGM Presentation – Parex Resources, Inc. – slide 16
    BEYOND 2019: ASSET REPLENISHMENT FOR FUTURE GROWTH Trucking (1) Parex Blocks 1. Fortuna Cartagena Pipeline o Acquired Q4/18 o 3 wells planned in 2019 River Terminal Covenas (1) 2. CPO-11 o Acquired Q4/18 3. Merecure FORTUNA…
  17. AGM Presentation – Parex Resources, Inc. – slide 17
    WHERE ARE WE GOING FROM HERE 2019 2020 - 2022 Our focus Is on Profitable Production growth Deliver top quartile Future Growth & Delivering & free cash flow per share growth Shareholder Returns New growth: Replenish &…
  18. AGM Presentation – Parex Resources, Inc. – slide 18
    THANK YOU FOR THE SUPPORT On behalf of our Board of Directors and the team at Parex, we thank all our stakeholders for their continued support. Investor Relations Contact us: Mike Kruchten Sr. VP, Capital Markets & Corporate Planning…
  19. AGM Presentation – Parex Resources, Inc. – slide 19
    MANAGEMENT TEAM Dave Taylor, CEO & President Ken Pinsky, Chief Financial Officer Mr. Taylor is responsible for creating, planning, implementing and integrating the strategic direction His geologically Over 25 years of in-depth financial…

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