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April 2020 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Apr 29, 2020 · 21 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. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 1
    Optimizing Shareholder Value CORPORATE PRESENTATION APRIL 2020 CORPORATE PRESENTATION APRIL 2020 1
  2. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Capital Structure Operating results 2018 2019 Production (boe/d) FY Average 44,408 52,687 Net Working Capital - US million(3) DAPS Growth(1) 26% 34% 344 Drilling Program ( wells) 54 43 US200 MM Undrawn Credit…
  3. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 3
    WHY INVEST IN PAREX DEBT-ADJUSTED PRODUCTION PER SHARE (DAPS) 1. No Debt & Positive Q419 Working Capital of US344 MM PPS DAPS Share Price (QE) 0.50 25 2. High Margins o 2019 FFO netback US30/boe at Brent 64/bbl 0.40 20 BOE/D…
  4. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 4
    DELIVERING CONSISTENT SHAREHOLDER VALUE PRODUCTION PER SHARE (DEBT ADJUSTED) 2P RESERVE PER SHARE (DEBT ADJUSTED) 500 1,800 BOE/MILLION WA BASIC SHARES MBOE/MILLION WA BASIC SHARES 450 1,600 400 1,400 350 1,200 300 1,000…
  5. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 5
    BALANCE SHEET STRENGTH PROVIDES OPTIONALITY ANNUAL PRODUCTION CAPITAL RETURNED TO SHAREHOLDERS 60,000 6 250 16 Brent: ANNUAL AVERAGE PRODUCTION (BOE/D) 55,000 DEBT-ADJUSTED CASH FLOW PER SHARE (US) 64/Bbl 14 CAPITAL…
  6. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 6
    PAREX CASH NETBACK(1) 80 75 71.59 70 64.21 65 60 53.57 54.75 Corporates Cost Structure (Estimate) (13.88) 55 50 45.12 (7.06) Transportation 9/bbl 45 USD/BOE 40 (5.76) Royalties 9% 35 (1.66) Based on realized price…
  7. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 7
    CONVENTIONAL OIL RESERVES GENERATE VALUE Proved Proved+ 8 Developed Proved + Probable+ 7 2019YE Producing Proved Probable Possible 2P FD&A (USD/BOE)(1) FD&A USD/boe(1) 7.63 7.50 7.57 12.44 6 Recycle Ratio (FD&A)(1) 3.9x 3.9x 3.9x…
  8. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 8
    FOUNDATION FOR GROWTH: APPRAISE & DEVELOP NET WORKING INTEREST PRODUCTION (LLA-32, LLA-34 & Cabrestero) LLA-32 50,000 Kananaskis Azogue 40,000 LLA-34 Max 30,000 Tilo BOE/D Chachalaca Chiricoca 20,000 10,000 Guaco Tigana…
  9. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 9
    CAPACHOS DEVELOPMENT AND EXPLORATION POTENTIAL Guadalupe depth structure Capachos (50% WI, Operator) Producing at restricted rate of 5,000 - 6,000 gross bopd ANDINA NORTE-1 Flowline expected to be in service by mid-2020 ANDINA-3 o…
  10. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 10
    ASSET REPLENISHMENT FOR FUTURE GROWTH Trucking Parex Blocks 1. ANH Bid Round (July & December 2019) Cartagena Pipeline o Acquired 5 blocks (VSM-25, VSM-36, LLA-94, LLA-122 & VMM-46) River in 2019 Terminal Covenas o 9% Royalty, no…
  11. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 11
    VIM-1: LA BELLEZA DISCOVERY Gas fields Oil fields VIM-1 (50% WI, Operator) Gas pipeline Oil Pipeline Main target is a Cienaga De Oro River formation draped over a basement high Analogue fields at Cicuco, Boquete and El Dificil…
  12. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 12
    EXPANDING LLANOS INVENTORY LLA-32 CPO-11 (50% WI, Operator) LLA-34 Additional leads and prospects being evaluated Cabrestero Shallow drilling targets testing stratigraphic prospects LLA-94 CPO-11 Rubiales LLA-94 (100% WI, Operator)…
  13. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 13
    FORTUNA, BORANDA & VMM-46 Fortuna Fortuna (100%WI, operator) Acquired in Q4 2018 No drilling since 2012 Target conventional oil prospects in Lisama and La Luna Formations Midas Acquired 3D seismic in 2019 (Acordianero) Boranda…
  14. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 14
    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…
  15. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 15
    ESG PERFORMANCE HIGHLIGHTS GHG emissions reduction initiatives: Promote innovation & research through Taxes & Royalties: Environment Governance Social o Pipeline (ODL) tie-in to reduce oil trucking 6 Parex Innovation Fellowships…
  16. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 16
    ENVIRONMENTAL PERFORMANCE EFFICIENCY CO2e/Production Total GHG Emissions Energy Used /Production Total Energy Used Total Water/Production Total water withdrawn Efficient Management of Natural Resources Source: Scotiabanks…
  17. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 17
    SUMMARY Self-funded industry leading production growth Grow & develop Llanos Blocks Prove play concepts in Middle & Lower Magdalena Basins Expand portfolio through business development CORPORATE PRESENTATION APRIL 2020 17
  18. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 18
    COLOMBIA - CURRENT LAND BASE Block Working Interest Gross Acres(1) 1 VIM-1 50% 223,651 2 Fortuna(2) 100% 26,206 3 Boranda2) 50% 43,200 Cartagena 4 De Mares(2) 50% 174,387 5 Aguas Blancas(2) 50% 13,386 Coveas 6 VMM-9 100% 152,412…
  19. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 19
    APPENDIX - INDUSTRY LEADING PERFORMANCE METRICS 2017 2018 2019 Production growth % 20 25 19 2P Reserves growth % 45 14 7 3-Year TSR % 140 61 43 ROACE(1) % 23 45 31 CROIC(2) % 18 32 29 EBITDA(3) US MM 314 640 663 Net income (loss)…
  20. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 20
    APPENDIX SUMMARY OF QUARTERLY RESULTS(1) (Unaudited Results) 2019 2018 2017 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 Operating Production (thousands of boe/d) 52.7 54.2 53.1 52.3 51.2 44.4 49.3 45.0 42.6 40.6 35.5 39.0 36.2 34.3…
  21. April 2020 Corporate Presentation – Parex Resources, Inc. – slide 21
    CORPORATE PRESENTATION APRIL 2020 26

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