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January 2015 Corporate Presenation – Parex Resources, Inc.

Parex Resources, Inc. · Jan 13, 2015 · 21 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. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 1
    Leveraging Portfolio Flexibility January 2015 Corporate Presentation PAREXRESOURCES.COM TSX:PXT
  2. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 2
    Snapshot Financial Q4 2014 Production 26,580 bopd 2014 Production 22,515 bopd Q3 Funds Flow (Sales 24,490 bopd) US 89 MM Reserves 2P (June 30, 2014) 58 MMboe(1) 2P Reserve Life Index (RLI) of 6.7 years NPV 10 AT 1,326 MM Capital…
  3. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 3
    Colombia Focused Barranquilla Santa Marta Cartagena /BLOCK Significant land base VIM-1 2.75 mm gross acres Covenas Working interest in 23 blocks Diversified production base Experienced operator 120 wells drilled 58…
  4. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 4
    Track Record of Consistent Growth Production Growth Debt Adjusted Reserve Growth Debt Adjusted 25,000 Production (bopd) Production per share 200 LHS RHS 100 Possible - LHS 0.80 20,000 160 2P - LHS Reserves (MMboe) 80…
  5. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 5
    2015 Guidance: Self Funded 18% Growth Brent Oil Price Scenario 50-60 per barrel (USD millions) Maintenance Capital 70-75 Exploration Commitments 75-80 2015 Base Capital 145-155 Discretionary Growth Capital Scenario Growth…
  6. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 6
    Grow & Diversify Production LLA-16 LLA-20 Los Ocarros Cabrestero LLA-32 LLA-34 LLA-30 Other 27 24 21 Bopd (000) by block 18 15 12 9 6 3 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 est. 2010 2011 2012…
  7. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 7
    Building A Sustainable Business Track record of progressing reserves from 3P to cash flow Focus on increasing reserve life index (RLI) & sustainability Proved + Probable 2P Reserves Life After Tax PV10(3) Proved + Probable Proved +…
  8. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 8
    Progressively Larger Discoveries Median Llanos Kona Las Maracas Akira / Tigana 100 acres 300 acres 300 acres 500 +3000 acres 1. Size 2. Drive Bottom water drive Edge water drive Edge water drive Oil Water Sandstone…
  9. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 9
    Llanos Plains Structural Pool Sizes (IHS) 60 Pmean = 3.9 MMBO P50 = 2.0 MMBO 50 2P Reserves MMBO Good fit to a logarithmic distribution Mature distribution 40 40% of discoveries made since 2010 Conforms to Parex Llanos initial…
  10. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 10
    Llanos Stratigraphic Pools: Significant Gaps in the 20-90 MMBO Range 2008 * 160 140 2P Reserves MMBO 2010 120 1989 * 100 Tigana Guadalupe & Mirador likely both fit into this gap 80 60 40 2011 2010 2007 *…
  11. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 11
    Parex Exploration Life Cycle Develop Acquire Test Initial Expand Exploitation Concept Land Concept Development Land Traditional LLA-26, Cebucan 3-Ways Low Side Cabrestero, LLA-34, Closures LLA-10 Stratigraphic LLA-24, LLA-30,…
  12. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 12
    Southern Llanos: New Play Trends Cabrestero (100% WI, Operator) Santiago Akira development drilling; swing producer Maniceo -Bandola Balay LLA-32 El Palmar LLA 34 (55% WI, Non-operated) Carmentea Los Trompillos Large discoveries…
  13. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 13
    Southern Llanos: 2015 Focus KANANASKIS Prospects Chenchena Chiricoca MaxNorte Tilo 2014 Drill TIGANA TAROTARO Chenchena Sur TUA Aruco Norte ARUCO Jacana Mochuleo PXT-B AKIRA 2015: Leveraging Portfolio…
  14. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 14
    Capachos Farm-in: Ecopetrol Partnership Capachos (50% WI, Operator)1 Development & exploration opportunities Capachos ANH royalty contract Large structure, light oil, 2 mmbbls produced from 2 wells Leverages our strengths: low cost…
  15. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 15
    Middle Magdalena Basin: New Play Concepts VMM-9 & VMM-11 (100% WI, Operator) Middle Magdalena Basin Testing of new play concepts: Cold heavy oil production (CHOPS) Conventional structure/sub-thrust VMM-9 La Luna unconventional play…
  16. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 16
    Middle Magdalena New Play Concepts 3. Eocene Subcrop Edge Multiple play types, in close OPON proximity, on the same 3D 1. Teriatry 4. La Luna seismic volumes Structure Resource Play Fairway (CHOPS) Play Types 1. Tertiary…
  17. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 17
    VMM 11 Leads & Prospects Teca-Nare Field Cum Production: 115 Producing Field MMboe Prospect/Lead 2014 3D Lead 1 Acquisition Lead 2 Parex Block Lead 3 Faults VMM 11 Glauca Prospect Velasquez/Palagua Field Cum…
  18. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 18
    Operating Netback: Colombia Premium Operating Opex & Royalties Brent Price Netback Transportation US /BBL 140 120 9 Realized Price (US /bbl) 8 8 8 15 Price 100 12 8 14 14 26 12 15 7 8 14 26 29 11 Royalties 22 23 29 27…
  19. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 19
    Parex Value Proposition Proven Managements track record Self-funded growth Exposure to Brent Oil Pricing LATAM exposure 2015: Leveraging Portfolio Flexibility 19
  20. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 20
    Appendix Block Summary Operated/ Block Working Interest Partners Gross Acres Basin Non-Operated LLA-10 Operated 50% Petro America 189,544 Llanos LLA-16 Operated 100% N/A 157,611 Llanos LLA-17 Operated 63% Geopark 108,726 Llanos LLA-20…
  21. January 2015 Corporate Presenation – Parex Resources, Inc. – slide 21
    Appendix Summary of Quarterly Results (Unaudited) 2014 2013 2012 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 FY Q4 Q3 Q2 Q1 OPERATING Production (thousands of bopd) 25.2 19.9 18.4 15.9 17.3 16.2 15.5 14.4 11.4 12.7 10.9 10.4 11.7 Average realized…

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