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2Q 2022 Earnings Presentation – Parex Resources, Inc.

Parex Resources, Inc. · Aug 4, 2022 · 16 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. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 1
    Corporate Presentation Unlocking Colombia August 2022 1
  2. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 2
    PXT Snapshot Largest independent Colombian oil & gas company Land position of 5.8MM net acres Production and reserves growth Growing on an absolute and per share basis Venezuela Industry-leading netbacks Unhedged producer with…
  3. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 3
    Strategy Focused on Colombia High-Quality Financial Strength Prudent Top-Tier Asset Base and Flexibility Return of Capital ESG Performance Accelerate exploration and Balance sheet strategically Track record of a focus on total…
  4. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 4
    Colombia Running Room Net Acreage (MM) Conventional, oil-weighted Colombian producer 6 Largest independent acreage holder in Colombia 2021 Colombia Bid Round Awarded 18 blocks in 2021 Colombia bid round Increased Position by 4.3MM 5…
  5. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 5
    Industry-Leading Profitability 2022E Cash Flow Netback (US/boe) 45 PXT vs. TSX-Listed Companies with 25,000 boe/d of 2022E crude & liquids production 40 35 30 25 20 15 10 PXT Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6…
  6. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 6
    Production and Reserves Growth Production Per Share(1) PDP Reserves Per Share(2) 18% CAGR (2017-2022F) 0.18 21% CAGR (2017-2021) 0.66 0.14 0.13 0.13 0.54 0.48 0.10 0.08 0.39 0.31 2017A 2018A 2019A 2020A 2021A 2022F (3)…
  7. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 7
    Return of Capital Track Record Summary (C MM) Levers 430 1,350 1,350 Active normal course issuer bid (NCIB) program 1,200 Over past three years have purchased full 10% allowable pursuant to NCIBs 1,050 334 In 2022, committed to full…
  8. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 8
    Top-Tier ESG Performance E Ratings(1) Approximately 34% reduction in scope 1 & 2 GHG emissions intensity since 2019 Invested in geothermal and solar power to lower carbon footprint ESG Score Rating: 75 Top 3 among TSX Capped Energy…
  9. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 9
    2022 and Long-Term Vision 9
  10. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 10
    2022 Corporate Guidance 2020A 2021A 2022F(1) Brent (US/bbl) 43 71 100 Production (boe/d) 46,518 46,998 55,000 Production Growth -12% 1% 17% Production Growth (per share)(2) -7% 12% 29% Shares Repurchased (MM) 14 13 12 Year-End Shares…
  11. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 11
    2022 First-Mover Advantage Entering the year with the most extensive land base in the companys history Secured rigs under long-term contracts to have equipment in place to successfully execute capital investment programs Increased…
  12. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 12
    Capital Allocation Framework and Delivery FFO Capital Allocation (1) Long Term 900MM Increased quarterly regular dividend by 79% to C0.25 per share marking the third increase in the past year 33% 265MM Return of Capital Share…
  13. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 13
    Long-Term Production Vision Illustrative Production Growth (boe/d)(1) 100,000 Ambition High-risk, high-reward exploration Exploration plus Magdalena exploitation upside that can 80,000 Longer-term exploitation upside using proven…
  14. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 14
    Key Takeaways Focused on unlocking Colombian asset portfolio through technology First-mover advantage: acreage to explore, secured rigs and long-lead items, and strengthened team Forecast year-over-year absolute production…
  15. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 15
    Appendix Long-Term Return of Capital Framework 1. Sustainable business invest approximately two thirds of FFO into our business Invest in long-term growth and replenish development inventory Investing US550MM across development,…
  16. 2Q 2022 Earnings Presentation – Parex Resources, Inc. – slide 16
    Advisories Non-GAAP and Other Financial Measures Advisory This presentation uses various non-GAAP financial measures, non-GAAP ratios, supplementary financial measures and capital management measures (as such terms are defined in…

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