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May 2019 Corporate Presentation – PEMEX

PEMEX · May 28, 2019 · 27 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 2019 Corporate Presentation – PEMEX – slide 1
    DISCIPLINED GROWTH + SHAREHOLDER RETURNS OUR 10 YEAR JOURNEY CORPORATE PRESENTATION MAY 2019 CORPORATE PRESENTATION MAY 2019 1
  2. May 2019 Corporate Presentation – PEMEX – slide 2
    CORPORATE SNAPSHOT Capital Structure Operating results 2017 2018 2019E(1) Net Working Capital - US million(4) Production (boe/d) FY Average 35,541 44,408 53,000 207 Capital Expenditures(2) - US million 212 302 215 US200 MM Undrawn…
  3. May 2019 Corporate Presentation – PEMEX – slide 3
    WHY INVEST IN PAREX 1. No Debt & Positive Q119 Working Capital of US207 MM 2. High Margins o Q119 FFO netback US28/boe at Brent 64/bbl 27% 3. Ability to Grow Within Cash Flow: o 2017 Production growth: 20% self-funded o 2018 Production…
  4. May 2019 Corporate Presentation – PEMEX – slide 4
    DELIVERING CONSISTENT SHAREHOLDER VALUE PRODUCTION PER SHARE (DEBT ADJUSTED) 2P RESERVE PER SHARE (DEBT ADJUSTED) 350 1,600 BOE/MILLION WA BASIC SHARES 1,400 MBOE/MM BASIC SHARES 300 250 1,200 1,000 200 800 150 600…
  5. May 2019 Corporate Presentation – PEMEX – slide 5
    BUSINESS IS STRONG PRODUCTION GROWTH AND FREE CASH FLOW Brent: 55,000 67/Bbl 5.50 Brent: DEBT-ADJUSTED CASH FLOW PER SHARE 50,000 5.00 72/Bbl ANNUAL PRODUCTION (BOE/D) 45,000 Brent: 4.50 40,000 55/Bbl 4.00 Brent: 35,000…
  6. May 2019 Corporate Presentation – PEMEX – slide 6
    GUIDANCE: CASH FLOW FUNDED GROWTH CAPEX BY TYPE CAPEX BY BLOCK Assumptions 2019FY(1) Bus. Dev Other Oil (Brent)(US/bbl) 60 Bus. Dev DeMares/Playon Exploration Production (Boe/d) 53,000 Fortuna YOY Production growth/share 25%…
  7. May 2019 Corporate Presentation – PEMEX – slide 7
    PAREX CASH NETBACK(1) 2019 Target Cash Netbacks(2)(3) 80 75 75 71.59 70 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 5 Cash Netback 23.56 31.39…
  8. May 2019 Corporate Presentation – PEMEX – slide 8
    2019 PLAN: HIGH NETBACKS ENABLE SHAREHOLDER RETURNS 900 2018YE 800 Working Capital 700 Optionality CFO at 75/bbl MILLIONS (USD) 600 CFO at 70/bbl CFO at 65/bbl 500 226(1) CFO at 60/bbl 400 Capex: 215 CFO at 300 55/bbl…
  9. May 2019 Corporate Presentation – PEMEX – slide 9
    2019 DRILLING PROGRAM: 46 GROSS WELLS PLANNED VIM-1: Lower Magdalena Expl. Wells Dev. Wells o La Belleza well 1 - Lower Magdalena Middle Magdalena VIM-1 o Aguas Blancas 3 12 o DeMares/Playon 3 - Fortuna Playon o Fortuna 2 1…
  10. May 2019 Corporate Presentation – PEMEX – slide 10
    YEAR-END 2018 RESERVES(1) 2P at Dec. 31, 2017 (MMboe) 162.2 3P Reserves 262.1 MMboe - Production 16.2 + 2P Reserves additions(2) 38.7 + Acquisitions - 2P at Dec. 31, 2018 (MMboe) 184.7 2P Reserves replacement ratio(3) 238% 2P Reserves…
  11. May 2019 Corporate Presentation – PEMEX – slide 11
    CONVENTIONAL OIL RESERVES GENERATE VALUE Proved+ 9 Proved + Probable+ 8 2018YE Proved Probable Possible 7 2P FD&A (USD/BOE)(1) FD&A USD/boe(1) 7.03 7.29 7.59 6 Recycle Ratio (FD&A)(1) 4.5x 4.3x 4.1x 5 After Tax NPV10% - C/sh(2)…
  12. May 2019 Corporate Presentation – PEMEX – slide 12
    FOUNDATION FOR GROWTH: APPRAISE & DEVELOP ODL Offloading Faults NET WORKING INTEREST PRODUCTION GLJ 3P (2018YE) (LLA-32, LLA-34 & Cabrestero) Exploration Wells LLA-32 50 Pipeline Carmentea 40 MBOE/D 30 Calona 20 AZOGUE…
  13. May 2019 Corporate Presentation – PEMEX – slide 13
    CAPACHOS DEVELOPMENT AND EXPLORATION POTENTIAL Guadalupe depth structure Capachos (50% WI, Operator) ANDINA NORTE-1 Producing at restricted rate of 5,000 gross bopd o Capachos-2: Guadalupe on production o Andina-1: Guadalupe on…
  14. May 2019 Corporate Presentation – PEMEX – slide 14
    CAPACHOS: ANDINA WELLS Andina Norte Prospect Andina Norte prospect drilled the next fault Andina-2 Andina-1 compartment o Cased and currently testing Mirador Prospective Zones Andina-1 Andina-2 Mirador Guadalupe Mirador Untested…
  15. May 2019 Corporate Presentation – PEMEX – slide 15
    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…
  16. May 2019 Corporate Presentation – PEMEX – slide 16
    FORTUNA & PLAYON Fortuna Fortuna (100%WI, operator) Acquired in Q4 2018 No drilling since 2012 2019 Plan o Drill 2 exploration wells & 1 development well Midas o Acquire 3D seismic (Acordianero) Target conventional oil prospects…
  17. May 2019 Corporate Presentation – PEMEX – slide 17
    CPO-11: EXPANDING LLANOS INVENTORY LLA-32 Farm-in: drill remaining 1 well & LLA-34 acquire 2D seismic to earn 50% WI Cabrestero Apply key learnings from Cabrestero and LLA-34 CPO-11 Numerous additional leads and Rubiales…
  18. May 2019 Corporate Presentation – PEMEX – slide 18
    WHERE DO WE GO 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 & tight oil &…
  19. May 2019 Corporate Presentation – PEMEX – slide 19
    2019 SUMMARY Self-funded industry leading production growth Grow & develop Southern Casanare Blocks Prove play concepts in Middle & Lower Magdalena Basins Expand portfolio through business development CORPORATE PRESENTATION MAY 2019…
  20. May 2019 Corporate Presentation – PEMEX – slide 20
    COLOMBIA - CURRENT LAND BASE Block Working Interest Gross Acres(1) 1 VIM-1 100% 223,651 2 Fortuna(2) 100% 26,206 3 Playon(2) 50% 43,200 Cartagena 4 Sogamoso 100% 3,695 5 De Mares(2) 50% 174,387 Coveas 6 Aguas Blancas(2) 50%…
  21. May 2019 Corporate Presentation – PEMEX – slide 21
    APPENDIX - INDUSTRY LEADING PERFORMANCE METRICS 2017 2018 2019E Production growth % 20 25 20 2P Reserves growth % 45 14 - 3-Year TSR % 140 61 - ROACE(1) % 23 45 - CROIC(2) % 18 32 - EBITDA(3) US MM 314 649 - Net income (loss) per…
  22. May 2019 Corporate Presentation – PEMEX – slide 22
    APPENDIX SUMMARY OF QUARTERLY RESULTS(1) (Unaudited Results) 2019 2018 2017 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 Operating Production (thousands of boe/d) 51.2 44.4 49.3 45.0 42.6 40.6 35.5 39.0 36.2 34.3 32.6 Brent Price (/bbl) 64 72…
  23. May 2019 Corporate Presentation – PEMEX – slide 23
    ADVISORIES This presentation is provided for informational purposes only as of May 14, 2019 is not complete, and may not contain certain material information about Parex Resources Inc. (Parex or the Company), including important…
  24. May 2019 Corporate Presentation – PEMEX – slide 24
    ADVISORIES the Company's forecasted 2019 average production; the Company's estimated average daily production for full year 2019; the Company's planned capital program, including anticipated amounts focused on existing discoveries and…
  25. May 2019 Corporate Presentation – PEMEX – slide 25
    ADVISORIES This document also contains a financial outlook, in particular the information set forth on slides 2-3, 6-8, and 22-23. Such financial outlook has been prepared by Parex' management to provide an outlook of the Company's…
  26. May 2019 Corporate Presentation – PEMEX – slide 26
    ADVISORIES This presentation contains certain oil and gas metrics, including F&D, FD&A, FD&A/boe, reserves life index (or RLI), operating netbacks, cash netbacks, funds flow from operations netback, CAGR, and recycle ratios, which do…
  27. May 2019 Corporate Presentation – PEMEX – slide 27
    CORPORATE PRESENTATION MAY 2019 28

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