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December 2021 Corporate Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Dec 1, 2021 · 26 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. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 1
    PAREX RESOURCES INC. Unlocking Colombia DECEMBER 2021 UNLOCKING COLOMBIA DECEMBER 2021 1
  2. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Highlights Operational and Financial Highlights 2020 2021E(1) 2022E(1) Brent (/bbl) 43 70 70 Production (boe/d) 46,518 47,000 53,000 Net Working Capital(4) Production Growth -12% 1% 13% US350 Million PPS…
  3. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 3
    ESG PERFORMANCE HIGHLIGHTS(1)(2) TSX Composite ESG Index Member Bloomberg ESG Disclosure Top Score Among Canadian E&Ps - 72 Environment (E&Ps average 51) December 8, 2021 23% reduction in scopes 1 & 2 GHG emissions intensity to 23 Kg…
  4. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 4
    CURRENT ESG PRIORITIES Environment Social Governance Introduced GHGs emissions intensity Water for All - increase community reduction targets (mid-term target: 50% 2023 diversity target reduction by 2030 from a 2019 baseline)…
  5. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 5
    DELIVERING CONSISTENT SHAREHOLDER VALUE PRODUCTION PER SHARE RESERVE LIFE INDEX 18 BOE/MILLION WA BASIC SHARES 500 16 450 14 400 350 12 300 10 YEARS 250 8 200 6 150 4 100 2 50 0 - 2015 2016 2017 2018 2019 2020…
  6. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 6
    FREE FUNDS FLOW AND RETURN TO SHAREHOLDERS Free Funds Flow Provided by Operations Return to Shareholders US950MM US715MM Cumulative free funds flow since 2017 Return of capital since 2017 974 290 156 362 98 67 2017…
  7. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 7
    CONVENTIONAL OIL RESERVES GENERATE VALUE Proved Proved+ Developed Proved + Probable+ 2020YE Producing Proved Probable Possible Reserves Volumes (mmboe) 72 128 195 281 FD&A US/boe(1) 7.73 12.33 8.45 4.02 Recycle Ratio (FD&A)(1) at…
  8. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 8
    2022 OUTLOOK AND GUIDANCE 13% year-over-year production growth OPERATIONAL GUIDANCE(1) driven by: Brent crude average price (/bbl) 70 o Development Southern Llanos Annualized Production - (boe/d) 52,000-54,000 Northern Llanos…
  9. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 9
    2022 CAPITAL ALLOCATION OPTIONS TO GROW SHAREHOLDER RETURNS Industry leading Cash Flow generation provides optionality for: o Growth Capex o Dividend Program o Share Buy-Back Targeting 10% 900 800 90/bbl 700 80/bbl 600 70/bbl…
  10. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 10
    BUILDING A SUSTAINABLE BUSINESS 2022 ACTIVITIES Southern Llanos VIM-43 Drill 20-25 wells on LLA-34 VIM-1 Drill 8-11 wells on Cabrestero Drill 4-6 exploration wells Northern Llanos Fortuna Drill first development well on Arauca…
  11. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 11
    UNLOCKING POTENTIAL THROUGH TECHNOLOGY Airborne Geophysical Vertical Multistage Surveys Stimulation Pinpoint and Stryde Multilateral Drilling Seismic Acquisition Synthetic Mud Radial Drilling Advancements Source:…
  12. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 12
    THREE YEAR PLAN DRIVES BUSINESS SUSTAINABILITY Production - Excluding Exploration (1) Exploitation Gas Exploration Utilize Development Unlock Future Technology to & Production Unlock Exploration Opportunities Colombias…
  13. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 13
    2021 PRODUCTION GAINING MOMENTUM 14 Day Moving Average Production - H2 2021 54,000 52,000 Net Production (boed) 50,000 48,000 46,000 44,000 42,000 40,000 Announced in Q2 85MM Capex Increase and Technology…
  14. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 14
    FOUNDATION FOR LONG-TERM PRODUCTION LLA-34 vs Southern Llanos (Net Production) 34 LLA-34 Southern LLA 15 33 14 32 13 Southern Llanos (mboed) 31 LLA-34 (mboed) 30 12 29 11 28 10 27 9 26 25 8 LLA-34 Jan-21…
  15. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 15
    STRATEGIC PARTNERSHIP WITH ECOPETROL On Strategy: Partnership with Ecopetrol in the highly prolific Llanos Basin in Arauca. Regional Arauca Map Meaningful Portfolio Additions: Near term, proven production potential and reserves plus…
  16. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 16
    ASSET OVERVIEW PROVEN OIL FIELD DEVELOPMENT Illustrative Log & Arauca Block Reactivation, Existing Infrastructure Arauca Fault Trend Structure Map Prospective Horizons Under explored, partially developed, proven light oil fault trend…
  17. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 17
    FORTUNA Fortuna (100% WI, Operator) o Acquired in Q4 2018; No drilling since 2012 o Targeting three stacked formations Perla Negra-1 o Six previously drilled vertical wells with 800 mbbl recovered(1) Cayena-1 o 2021 Drilled…
  18. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 18
    VIM-1: LA BELLEZA DISCOVERY Gas fields VIM-1 (50% WI, Operator) Oil fields La Belleza; early production of 2,400 boe/d gross in Gas pipeline Oil Pipeline November 2021 River Main target is a Cienaga De Oro formation draped over a…
  19. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 19
    BORANDA & VMM-46 Boranda (50% WI, Operator) Field currently producing 500 bbl/d of oil from vertical wells Boranda Appraisal plan includes horizontal drilling and Boranda-1 optimized completion techniques Boranda Centro-1 Boranda…
  20. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 20
    2021 BID ROUND PRELIMINARILY AWARDED BLOCKS Parex Land In the December 2021 Colombia bid round, Parex has preliminarily won 18 Parex Bid Round Blocks Lower Magdalena blocks in both the Llanos and Magdalena basins. 1 Block The…
  21. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 21
    BUILDING A SUSTAINABLE LOW CARBON FUTURE Parex aspires to become one of the least carbon intensive E&P companies 35 Reduce Scopes 1 & 2 GHG 30 Zero routine flaring by 2025 emissions intensity from operated assets by: 25 o…
  22. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 22
    EMISSION FREE GEOTHERMAL ENERGY POWERS PAREX PRODUCTION Parex installed Colombias first geothermal power unit that captures the heat from hot water by-product from oil production. The first pilot unit is on the Las Maracas field and the…
  23. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 23
    COLOMBIA - CURRENT LAND BASE Block Parex Area Working Interest Gross Acres(1) 1 VIM-1 Magdalena 50% 139,575 2 VIM-43 Magdalena 100% 90,457 3 Fortuna(2) Magdalena 100% 26,205 Cartagena 4 Boranda(2) Magdalena 50% 43,367 5 De Mares(2)…
  24. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 24
    APPENDIX - INDUSTRY LEADING PERFORMANCE METRICS 2018 2019 2020 Production growth % 25 19 -12 2P Reserves growth % 14 7 -2 3-Year TSR % 61 43 -4 ROACE(1) % 45 31 10 CROIC(2) % 31 28 13 EBITDA(3) US MM 641 663 309 Net income (loss)…
  25. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 25
    APPENDIX SUMMARY OF QUARTERLY RESULTS(1) (Unaudited Results) 2021 2020 2019 2018 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 Operating Production (thousands of boe/d) 47.5 43.9 46.8 46.5 46.6 44.3 40.9 54.3 52.7 54.2 53.1…
  26. December 2021 Corporate Presentation – Parex Resources, Inc. – slide 26
    UNLOCKING COLOMBIA DECEMBER 2021 31

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