Skip to main content October 2019 Corporate Presentation – Parex Resources, Inc. | Shale Experts
Loading...
Pm

October 2019 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Oct 11, 2019 · 22 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. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 1
    DISCIPLINED GROWTH + SHAREHOLDER RETURNS OUR 10 YEAR JOURNEY CORPORATE PRESENTATION OCTOBER 2019 CORPORATE PRESENTATION OCTOBER 2019 1
  2. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Capital Structure Operating results 2017 2018 2019E(1) Production (boe/d) FY Average 35,541 44,408 53,000 Net Working Capital - US million(5) DAPS Growth(2) 21% 26% 33% 240 Capital Expenditures(3) - US million…
  3. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 3
    WHY INVEST IN PAREX 1. No Debt & Positive Q219 Working Capital of US240 MM DEBT-ADJUSTED PRODUCTION PER SHARE (DAPS) 0.50 25 2. High Margins o Q219 FFO netback US32/boe at Brent 69/bbl 0.40 20 BOE/D PER 1,000 SHARES 3. Ability to…
  4. October 2019 Corporate Presentation – Parex Resources, Inc. – 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. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 5
    BUSINESS IS STRONG PRODUCTION GROWTH AND FREE CASH FLOW Production DACF/Share Brent: DEBT-ADJUSTED CASH FLOW PER SHARE 55,000 65/Bbl 5.50 Brent: ANNUAL PRODUCTION (BOE/D) 50,000 5.00 72/Bbl 45,000 4.50 Brent: 40,000…
  6. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 6
    PAREX CASH NETBACK(1) 2019 Target Cash Netbacks(2)(3) 80 75 71.59 68.52 70 68.32 70 63.83 65 65 60 60 (13.79) 55 55 50 (7.97) 45 USD/BOE (5.51) 40 (2.59) 35 (6.74) 30 25 20 15 10 5 29.16(4) 31.92(4) 0 23.56…
  7. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 7
    2019 PLAN: HIGH NETBACKS ENABLE SHAREHOLDER RETURNS 800 2019 FY Guidance Optionality 750 2018YE Production 53,000 boe/d 700 Working Capex U230 MM 650 Capital US219 FFO netback US30/Bbl 600 Dec. 31 Shares 142.5 MM 550 CFO…
  8. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 8
    2019 DRILLING PROGRAM: 46 GROSS WELLS PLANNED VIM-1: Lower Magdalena Expl. Wells Dev. Wells o La Belleza well 1 - Middle Magdalena Lower Magdalena VIM-1 o Aguas Blancas 2 12 o DeMares/Boranda 3 - o Fortuna 2 - Fortuna Boranda…
  9. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 9
    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 Recycle Ratio (FD&A)(1) 4.5x 4.3x 4.1x 6 5 NAV at Brent 60 flat…
  10. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 10
    FOUNDATION FOR GROWTH: APPRAISE & DEVELOP Faults GLJ 3P (2018YE) NET WORKING INTEREST PRODUCTION Exploration Wells (LLA-32, LLA-34 & Cabrestero) Pipeline 50 LLA-34 Max 40 Tilo Chachalaca Chiricoca MBOE/D 30 20 Tigana…
  11. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 11
    CAPACHOS DEVELOPMENT AND EXPLORATION POTENTIAL Guadalupe depth structure Capachos (50% WI, Operator) Producing at restricted rate of 5,500 gross bopd ANDINA NORTE-1 o Capachos-2: Guadalupe on production ANDINA-3 o Andina-1: Guadalupe…
  12. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 12
    CAPACHOS: ANDINA WELLS Drilling Andina-3 appraisal well Andina Norte Andina Prospective Andina-1 Andina-2 Andina 1 1 2 3 Zones Norte-1 Mirador Mirador Untested Untested Untested Guadalupe Producing - To be placed on Mirador 1,000…
  13. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 13
    BEYOND 2019: ASSET REPLENISHMENT FOR FUTURE GROWTH Trucking (1) Cartagena Parex Blocks 1. Fortuna Pipeline o Acquired Q4/18 o 2 wells planned in 2019 River Terminal Covenas (1) 2. CPO-11 o Acquired Q4/18 FORTUNA 3. Merecure…
  14. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 14
    FORTUNA & BORANDA Fortuna (100%WI, operator) Fortuna Acquired in Q4 2018 No drilling since 2012 2019 Plan o Drilled Habanero-1 o Acquiring 3D seismic Target conventional oil prospects in Lisama and La Midas Luna Formations…
  15. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 15
    FORTUNA BLOCK ACTIVITY Fortuna (100%WI, operator) Exploration of the Lisama Formation play o 4 Prospects identified on 2D seismic o Habanero-1 Swab tested 10.4 API oil from 1 zone Additional testing in Q3/19 Habanero 1 3D…
  16. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 16
    CPO-11: EXPANDING LLANOS INVENTORY LLA-32 CPO-11 (50% WI, Operator) LLA-34 Apply key learnings from Cabrestero Cabrestero and LLA-34 CPO-11 Numerous additional leads and Daisy-1 prospects being evaluated Rubiales Shallow…
  17. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 17
    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 & exploration…
  18. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 18
    ESG PERFORMANCE HIGHLIGHTS GHG emissions reduction initiatives: Promote safety culture Taxes & Royalties: Social Environment Governance o ODL Pipeline tie-in to reduce oil trucking Significant improvement to TRIF since 2016…
  19. October 2019 Corporate Presentation – Parex Resources, Inc. – 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 OCTOBER…
  20. October 2019 Corporate Presentation – Parex Resources, Inc. – 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 Boranda2) 50% 43,200 Cartagena 4 Sogamoso 100% 3,695 5 De Mares(2) 50% 174,387 Coveas 6 Aguas Blancas(2) 50%…
  21. October 2019 Corporate Presentation – Parex Resources, Inc. – 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. October 2019 Corporate Presentation – Parex Resources, Inc. – slide 22
    APPENDIX SUMMARY OF QUARTERLY RESULTS(1) (Unaudited Results) 2019 2018 2017 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 Operating Production (thousands of boe/d) 52.3 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)…

From the store

Browse maps, data & reports in the Shale Experts store