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September 2020 Company Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Sep 11, 2020 · 20 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. September 2020 Company Presentation – Parex Resources, Inc. – slide 1
    Optimizing Shareholder Value CORPORATE PRESENTATION SEPTEMBER 2020 CORPORATE PRESENTATION SEPTEMBER 2020 1
  2. September 2020 Company Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Capital Structure Operating results 2019 2020 YTD(1) Production (boe/d) FY Average 52,687 47,573 Net Working Capital - US million(4) DAPS Growth(2) 34% - 339 Drilling Program ( wells)(2) 43 20 US200 MM Undrawn…
  3. September 2020 Company Presentation – Parex Resources, Inc. – slide 3
    ESG PERFORMANCE HIGHLIGHTS Environment Social Governance ISS Quality Score Create ISS Quality Score ISS Quality Score GHG emissions disclosure Board of Directors + 3rd party data verification local employment…
  4. September 2020 Company Presentation – Parex Resources, Inc. – slide 4
    WHY INVEST IN PAREX DEBT-ADJUSTED PRODUCTION PER SHARE (DAPS) 1. No Debt & Positive Q220 Working Capital of US339 MM PPS DAPS Share Price (QE) 0.50 25 2. High Margins o Q220 FFO netback US9.96/boe at Brent 33/bbl 0.40 20…
  5. September 2020 Company Presentation – Parex Resources, Inc. – slide 5
    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…
  6. September 2020 Company Presentation – Parex Resources, Inc. – slide 6
    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…
  7. September 2020 Company Presentation – Parex Resources, Inc. – slide 7
    PAREX CASH NETBACK(1) 75 71.59 70 64.21 65 60 54.75 53.57 55 51.05 50 45.12 45 40 33.39 USD/BOE 35 30 25 (16.47) 20 (1.99) 15 (4.98) 10 (1.75) 5 13.20(2) 13.70(2) 22.29(2) 24.65(2) 29.61(2) 20.62(2) 9.96(2) 0 1.76…
  8. September 2020 Company Presentation – Parex Resources, Inc. – slide 8
    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…
  9. September 2020 Company Presentation – Parex Resources, Inc. – slide 9
    FOUNDATION FOR GROWTH: APPRAISE & DEVELOP NET WORKING INTEREST PRODUCTION LLA-32 Kananaskis (LLA-32, LLA-34 & Cabrestero) Azogue 50,000 LLA-34 40,000 Max Chachalaca Chiricoca Tilo 30,000 BOE/D 20,000 Guaco Tarotaro Tigana…
  10. September 2020 Company Presentation – Parex Resources, Inc. – slide 10
    CAPACHOS DEVELOPMENT AND EXPLORATION POTENTIAL Guadalupe depth structure Capachos (50% WI, Operator) Producing at restricted rate ANDINA NORTE-1 o 5,000 - 6,000 gross bopd ANDINA-3 ANDINA-1 Flowline in service ANDINA-2 o…
  11. September 2020 Company Presentation – Parex Resources, Inc. – slide 11
    ASSET REPLENISHMENT FOR FUTURE GROWTH Trucking Parex Blocks 1. ANH Bid Round Cartagena Pipeline o In 2019, acquired 5 blocks (VSM-25, VSM-36, LLA-94, LLA-122 & VMM-46) River o 9% Royalty, no Cash Payments Terminal Covenas o Next…
  12. September 2020 Company Presentation – Parex Resources, Inc. – slide 12
    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 formation River draped over a basement high Analogue fields at Cicuco, Boquete and El El Dificil…
  13. September 2020 Company Presentation – Parex Resources, Inc. – slide 13
    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 (50% WI, Operator)…
  14. September 2020 Company Presentation – Parex Resources, Inc. – slide 14
    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 Acquired 3D seismic in 2019 Midas (Acordianero) 2020 Plan:…
  15. September 2020 Company Presentation – Parex Resources, Inc. – slide 15
    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…
  16. September 2020 Company Presentation – Parex Resources, Inc. – slide 16
    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 SEPTEMBER 2020 16
  17. September 2020 Company Presentation – Parex Resources, Inc. – slide 17
    COLOMBIA - CURRENT LAND BASE Block Working Interest Gross Acres(1) 1 VIM-1 50% 223,651 2 Fortuna(2) 100% 26,206 Cartagena 3 Boranda2) 50% 43,200 4 De Mares(2) 50% 174,387 5 Aguas Blancas(2) 50% 13,386 Coveas 6 VMM-9 100% 152,412…
  18. September 2020 Company Presentation – Parex Resources, Inc. – slide 18
    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)…
  19. September 2020 Company Presentation – Parex Resources, Inc. – slide 19
    APPENDIX SUMMARY OF QUARTERLY RESULTS(1) (Unaudited Results) 2020 2019 2018 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 Operating Production (thousands of boe/d) 40.9 54.3 52.7 54.2 53.1 52.3 51.2 44.4 49.3 45.0 42.6 40.6 Brent…
  20. September 2020 Company Presentation – Parex Resources, Inc. – slide 20
    CORPORATE PRESENTATION SEPTEMBER 2020 25

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