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February 2021 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Feb 1, 2021 · 23 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. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 1
    Optimizing Shareholder Value CORPORATE PRESENTATION FEBRUARY 2021 CORPORATE PRESENTATION FEBRUARY 2021 1
  2. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Capital Operating Results 2019 2020E(1) 2021E(1) Structure Production (boe/d) FY Average 52,687 46,500 48,000 Net Working Capital - US million(4) DAPS Growth(2) 34% -3% 19% Drilling Program ( wells) 43 30 35…
  3. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 3
    2021 BUDGET GUIDANCE Average Annual Production: 47-49 mboe/d Production per Share Growth: 14% Brent Crude Average Price: 45/bbl FFO: 320-340 MM Free Funds Flow (Mid-Point): 155 MM Estimated End of Period Working Capital:…
  4. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 4
    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…
  5. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 5
    WHY INVEST IN PAREX DEBT-ADJUSTED PRODUCTION PER SHARE (DAPS) PPS DAPS Share Price (QE) 1. No Debt & Positive Q420 Working Capital of US 320 MM 0.50 25 2. High Margins o Q320 operating netback US 23.10/boe at Brent 0.40 20…
  6. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 6
    DELIVERING CONSISTENT SHAREHOLDER VALUE PRODUCTION PER SHARE (DEBT ADJUSTED) RESERVE LIFE INDEX 500 18 BOE/MILLION WA BASIC SHARES 450 16 400 14 350 12 300 10 250 YEARS 8 200 6 150 4 100 2 50 0 - 2015 2016…
  7. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 7
    STRONG RESERVE PER SHARE GROWTH PDP RESERVES PER SHARE DEBT ADJUSTED 1P RESERVES PER SHARE DEBT ADJUSTED 0.8 140% 1.4 RESERVES (BOE/BASIC SHARE) RESERVES (BOE/BASIC SHARE) 0.7 120% 1.2 0.6 100% 1.0 0.5 80% 0.8 0.4 60%…
  8. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 8
    INCREASING PRODUCTION WHILE RETURNING FCF TO SHAREHOLDERS 300 PRODUCTION (MBOE/D) Since 2017: CURRENT SHARES OUTSTANDING Production increased by 43% (67% prior to COVID-19 in Q1 2020). 250 WORKING CAPITAL Working Capital…
  9. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 9
    INDUSTRY LEADING SHARE BUY-BACK PROGRAM Parex Resources is committed to returning capital Shares Bought Back Cost of Share Buybacks to shareholders through the NCIB and share buy- 8 120 back program. 7 100 Since the first NCIB in…
  10. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 10
    BALANCE SHEET STRENGTH PROVIDES OPTIONALITY ANNUAL PRODUCTION CAPITAL RETURNED TO SHAREHOLDERS 60,000 6 250 16 Brent: ANNUAL AVERAGE PRODUCTION (BOE/D) 55,000 64/Bbl DEBT-ADJUSTED CASH FLOW PER SHARE (US) 14 Brent:…
  11. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 11
    PAREX CASH NETBACK(1) 75 71.59 70 64.21 65 60 54.75 55 50 43.30 45 40 USD/BOE 35 30 25 20 15 10 5 22.29(2) 24.65(2) 29.61(2) 17.54(2) 0 -5 2017 2018 2019 2020E Cash Netback Tax G&A-Finance Opex Royalties…
  12. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 12
    CONVENTIONAL OIL RESERVES GENERATE VALUE 9 8.48 Proved Proved+ 8 7.57 7.58 7.29 Developed Proved + Probable+ 7 2P FD&A (USD/BOE)(1) 2020YE Producing Proved Probable Possible 6.15 FD&A USD/boe(1) 7.73 12.33 8.45 4.02 6 5.03…
  13. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 13
    FOUNDATION FOR GROWTH: APPRAISE & DEVELOP LLA-32 NET WORKING INTEREST PRODUCTION Kananaskis Azogue (LLA-32, LLA-34 & Cabrestero) LLA-34 50,000 Max Chiricoca Tilo 40,000 Chachalaca 30,000 BOE/D Guaco 20,000 Tarotaro…
  14. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 14
    ASSET REPLENISHMENT FOR FUTURE GROWTH Trucking Parex Blocks 1. ANH Bid Round Pipeline o In 2020, acquired 2 blocks (LLA-134 and VIM-43) VIM-43 River o Awarded 5 blocks in 2019 Cartagena o 9% Royalty, No Cash Payments VIM-1 (1) 2.…
  15. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 15
    2020 ANH BID ROUND - AWARDED BLOCKS LLA-134 Block VIM-43 Block (WI 100%) Targeting stratigraphic plays in the same Targeting an undrilled 4-way closure mapped reservoirs as LLA-34 on 2D seismic in the Plato subbasin to the NE of La…
  16. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 16
    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 VIM-1…
  17. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 17
    EXPANDING LLANOS INVENTORY CPO-11 (50% WI, Operator) LLA-32 Additional leads and prospects being evaluated LLA-34 Shallow drilling targets testing stratigraphic prospects Cabrestero LLA-94 (50% WI, Operator) LLA-94 Rubiales Multiple…
  18. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 18
    FORTUNA, BORANDA & VMM-46 Fortuna (100% WI, operator) Fortuna Acquired in Q4 2018 No drilling since 2012 Target conventional oil prospects in Lisama and La Luna Formations Acquired 3D seismic in 2019 Drilling Cayena exploration well…
  19. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 19
    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 FEBRUARY 2021 19
  20. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 20
    COLOMBIA - CURRENT LAND BASE Block Working Interest Gross Acres(1) 1 VIM-1 50% 139,575 2 VIM-43 100% 90,457 3 Fortuna(2) 100% 26,205 4 Boranda(2) 50% 43,367 Cartagena 5 De Mares(2) 50% 174,387 6 Aguas Blancas(2) 50% 13,386…
  21. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 21
    APPENDIX - INDUSTRY LEADING PERFORMANCE METRICS 2018 2019 2020 Production growth % 25 19 -12 2P Reserves growth % 14 7 -2 3-Year TSR % 61 43 ROACE(1) % 45 31 CROIC(2) % 31 28 EBITDA(3) US MM 640 663 Net income (loss) per share…
  22. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 22
    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) 44.3 40.9 54.3 52.7 54.2 53.1 52.3 51.2 44.4 49.3 45.0 42.6 40.6…
  23. February 2021 Corporate Presentation – Parex Resources, Inc. – slide 23
    CORPORATE PRESENTATION FEBRUARY 2021 28

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