Parex Resources : Investor Presentation - April 2023
April 03, 2023 at 02:06 pm EDT
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Parex Resources
Investor Presentation - April 2023
TSX:PXT
Largest Independent Oil & Gas Company in Colombia
Deep Portfolio with Transformational Exploration Opportunities
Debt-FreeBalance Sheet
Target Return of 100% of Free Funds Flow to Shareholders
Top-TierESG Performance
Stock Symbol
TSX:PXT
Shares Outstanding(1)
107.9 million
Market Capitalization(2)
C$2.7 billion
Quarterly Dividend(3)
C$0.375 per share
Dividend Yield(2)(3)(4)
6.0%
Average Production(5)
54,257 boe/d
Land Position
5.5 million net acres
(1) As at February 28, 2023.
(2) As at March 31, 2023.
(3) Based on C$0.375 per share quarterly dividend as first approved on February 2, 2023.
(4) Supplementary financial measure; annualized dividends per share dividend by PXT share price; see advisory.
(5) For three months ended December 31, 2022 (light & medium crude oil: 10,511 bbl/d, heavy crude oil: 42,766
bbl/d, conventional natural gas: 6,000 mcf/d).
Colombia
~750,000
Independent
Free
OECD
US$4.4B
BBL/D
Branches of
Capital Movement
Member
Excepted Total
Oil Production(1)
Government
& No Foreign
Country
E&P Investment(2)
Currency Controls
The Parex Advantage
Offshore
Oil Sales
Paid in USD based on Brent reference pricing
Top Quartile
Established Strong
Strategic Partner with
Cash Flow per BOE(3)
Social License
Ecopetrol S.A.
When compared against
US$6MM of community
Existing relationship & MOU
TSX-listed oil & gas peers
investment in 2022
signed in Foothills area
(1) 2021; source: National Hydrocarbons Agency of the Republic of Colombia (ANH). (2) 2022E; source: Colombian Petroleum Association (ACP). (3) Source: Peters & Co. (March 13, 2023); 2023E assumptions: Brent: US$78.93/bbl WTI: US$75.61/bbl, NYMEX: US$3.00/mmbtu, AECO: C$2.92/mcf, USD/CAD: 0.729; all USD cash flow
3
netbacks converted to CAD; peer list based on Peters & Co. Canadian Producers coverage list (38 total companies (excludes royalty companies)).
Track Record
Strategy
Capital Allocation
Sustainability & ESG
Big 'E' Exploration
Track Record of Growth
PRODUCTION PER SHARE(1)
16% CAGR
(2017-2022)
0.13
0.14
0.12
0.10
0.08
0.17
PDP RESERVES PER SHARE(2)(3)
18%
CAGR
(2017-2022)
0.67
0.55
0.50
0.40
0.33
0.76
2017A
2018A
2019A
2020A
2021A
2022A
2017A
2018A
2019A
2020A
2021A
36
52
51
Absolute PDP Reserves Growth CAGR: 10%
Absolute Production Growth CAGR: 8%
kboe/d
kboe/d
mmboe
Since 2017, grown production and PDP reserves on an absolute basis, further enhanced on a per share basis by consistent share repurchases
(1) Calculated as total annual production divided by weighted-average basic shares. (2) Calculated as PDP gross volume divided by year-end basic shares; see advisory. (3) See "Oil and Gas Information" advisory.
2022A
83
mmboe
5
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Disclaimer
Parex Resources Inc. published this content on 03 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 April 2023 18:05:04 UTC.
Parex Resources Inc. is a Canada-based independent oil and gas company in Colombia, focusing on sustainable, conventional production. The company is engaged in the business of the exploration, development, production and marketing of oil and natural gas in Colombia. The Company is focused on development in two main basins: Llanos and Magdalena. All of the Company's oil production and 87% of the oil, natural gas and natural gas liquids (NGL) proved plus probable reserves are located in the Llanos Basin of Colombia with the remaining oil reserves and production located in the Magdalena Basin of Colombia.
PAREX RESOURCES INC. 
