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February 2022 Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Feb 1, 2022 · 19 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 2022 Presentation – Parex Resources, Inc. – slide 1
    Unlocking Colombia February 2022 1
  2. February 2022 Presentation – Parex Resources, Inc. – slide 2
    CORPORATE SNAPSHOT Operational & Financial Highlights 2020A 2021F(1) 2022F(2) Brent (/bbl) 43 71 80 Net Working Capital(4) Production (boe/d) 46,518 46,998 53,000 325 Million Production Growth -12% 1% 13% PPS Growth(3) -7% 12%…
  3. February 2022 Presentation – Parex Resources, Inc. – slide 3
    COLOMBIA RUNNING ROOM Net Acreage (MM) Leading oil-weighted Colombia producer 6 PXT is the largest independent landowner in Colombia with 5.9MM total net acres(1) 5 2021 Colombia Bid Round High netback business with production tied to…
  4. February 2022 Presentation – Parex Resources, Inc. – slide 4
    RETURN OF CAPITAL TRACK RECORD Summary (CAD MM) Levers 1,350 370 1,300 Normal course issuer bid (NCIB) program 1,200 Over the past three years have purchased the full 10% allowable pursuant to NCIBs 1,050 334 In 2022, expect to…
  5. February 2022 Presentation – Parex Resources, Inc. – slide 5
    2022F RETURN CAPITAL AND GROW PRODUCTION & INVENTORY 2022F Capital Allocation (USD MM) 800 90/bbl 80/bbl 600 250 325 425 25% 400 Exploration 70/bbl 10% Appraisal Brent 2022F Production Guidance 52,000-54,000 boe/d 200 65%…
  6. February 2022 Presentation – Parex Resources, Inc. – slide 6
    THREE-YEAR BUSINESS PLAN Production Forecast (boe/d; excludes exploration blocks)(1) Not Included in Production Forecast 70,000 70,000 Jan. 2022 average +5% 60,000 production: +5% 60,000 Exploitation 51,500 +13% Utilizing…
  7. February 2022 Presentation – Parex Resources, Inc. – slide 7
    2022 ACTIVITIES BUILDING A SUSTAINABLE BUSINESS VIM-43 VIM-1 Fortuna VIM-1 Northern VMM-46 Magdalena Boranda Drilling 1-2 exploration wells Llanos Magdalena and La Belleza-2. Start oil and Northern Llanos LLA-38 Drill 3-5…
  8. February 2022 Presentation – Parex Resources, Inc. – slide 8
    VALUABLE CONVENTIONAL RESERVES Proved Proved+ 2021 Year-End Proved + Developed Proved Probable+ Corporate Reserves Report Probable Producing Possible Reserves Volumes (mmboe) 81 125 199 287 Reserve Life Index (years)(1) 4.4 6.9…
  9. February 2022 Presentation – Parex Resources, Inc. – slide 9
    RESERVES PER SHARE GROWTH 2P CAGR 12.0% (2017-2021) 1.65 1.49 1.38 1.19 1.05 0.67 0.55 0.50 0.40 0.33 2017 2018 2019 2020 2021 PDP per YE Basic Common Shares 2P per YE Basic Common Shares PDP CAGR 19.4%…
  10. February 2022 Presentation – Parex Resources, Inc. – slide 10
    ESG PERFORMANCE Environment 14% reduction in scopes 1 & 2 GHG emissions intensity to 20 Kg CO2e/boe in 2021 Bloomberg ESG Disclosure from 23 Kg CO2e/boe in the prior year Top Score Among Canadian E&Ps 72 (E&Ps average 49) 67,124 Mt CO2e…
  11. February 2022 Presentation – Parex Resources, Inc. – slide 11
    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) access to…
  12. February 2022 Presentation – Parex Resources, Inc. – slide 12
    KEY TAKEAWAYS Focused on unlocking Colombian asset portfolio Repurchased 46 million common shares since 2017(1) Total shareholder returns are a priority, with a 2022 forecast of: 13% production growth; 10% share buyback; and…
  13. February 2022 Presentation – Parex Resources, Inc. – slide 13
    APPENDIX 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…
  14. February 2022 Presentation – Parex Resources, Inc. – slide 14
    APPENDIX 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…
  15. February 2022 Presentation – Parex Resources, Inc. – slide 15
    APPENDIX 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 High…
  16. February 2022 Presentation – Parex Resources, Inc. – slide 16
    APPENDIX FORTUNA Fortuna (100% WI, Operator) o Acquired in Q4 2018; no drilling since 2012 o Targeting four different zones o Six previously drilled vertical wells with 800 mbbl recovered(1) 2022 Plan: o Drill follow-up multi lateral…
  17. February 2022 Presentation – Parex Resources, Inc. – slide 17
    APPENDIX VIM-1 LA BELLEZA DISCOVERY Gas fields VIM-1 (50% WI, Operator) Oil fields Gas pipeline La Belleza; production started in November 2021, with Oil Pipeline gross rates of 2,400 boe/d River El Dificil Field Main target is a…
  18. February 2022 Presentation – Parex Resources, Inc. – slide 18
    APPENDIX 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…
  19. February 2022 Presentation – Parex Resources, Inc. – slide 19
    ADVISORIES Oil and Gas Information The estimates of Parex' December 31, 2020 reserves set forth in this presentation have been prepared by GLJ Petroleum Consultants Ltd. (GLJ) as of December 31, 2020 with a preparation date of February…

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