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Parex Resources Inc (PXT.TO)

PXT.TO on Toronto Stock Exchange

20.85CAD
24 May 2019
Change (% chg)

$0.49 (+2.41%)
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Latest Key Developments (Source: Significant Developments)

Parex Q1 2019 Production 51,200 BOE/d – 27Th Quarterly Increase
Monday, 15 Apr 2019 

April 15 (Reuters) - Parex Resources Inc ::PAREX Q1 2019 PRODUCTION 51,200 BOE/D – 27TH QUARTERLY INCREASE.PAREX RESOURCES INC - EXPECT Q2 2019 PRODUCTION TO AVERAGE 52,000 BOE/D..PAREX RESOURCES INC - DURING 2019 WE EXPECT TO INCREASE CAPACHOS FIELD'S PRODUCTIVE CAPABILITY IN STAGES TO 10,000 BOE/D BY Q4 2019.  Full Article

Parex Resources Announces 2018 Fourth Quarter And Full Year Results
Thursday, 7 Mar 2019 

March 6 (Reuters) - Parex Resources Inc ::PAREX RESOURCES ANNOUNCES 2018 FOURTH QUARTER AND FULL YEAR RESULTS.Q4 BASIC FFO PER SHARE $1.28.QUARTERLY OIL AND NATURAL GAS PRODUCTION OF 49,300 BOE/D, UP 26 PERCENT.Q4 SALES VOLUMES, EXCLUDING PURCHASED OIL, AVERAGED 52,161 BOE/D.EXPECT Q1 2019 AVERAGE PRODUCTION TO BE AT LEAST 51,000 BOE/D AND Q2 2019 AVERAGE PRODUCTION TO EXCEED 52,000 BOE/D.QTRLY EARNINGS PER SHARE $0.35.  Full Article

Frontera Announces Investor Day And Corporate Update
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - Frontera Energy Corp ::FRONTERA ANNOUNCES INVESTOR DAY AND CORPORATE UPDATE.FRONTERA ENERGY CORP - TARGETING TO GROW PRODUCTION IN COLOMBIA TO OVER 85,000 BOE/D BEFORE ROYALTIES BY END OF 2023..FRONTERA ENERGY CORP - APPOINTMENT OF CARLOS ALBERTO VARGAS MEDINA AS CHIEF OPERATING OFFICER, EFFECTIVE FEBRUARY 11, 2019.FRONTERA ENERGY CORP - SIGNED A FARM-IN AGREEMENT WITH PAREX RESOURCES.FRONTERA ENERGY CORP - CONSEJO DE ESTADO REJECTED ANH'S REQUEST TO ANNUL PANEL'S DECEMBER 6, 2017 RULING ON CORCEL ARBITRATION.FRONTERA ENERGY CORP - ARBITRATORS RULING IN FAVOUR OF FRONTERA REMAINS UPHELD..FRONTERA ENERGY CORP - RECEIVED 50% WORKING INTEREST IN VIM-1 BLOCK IN LOWER MAGDALENA VALLEY BASIN IN COLOMBIA.FRONTERA - INTENDS TO CLAIM RECOVERY OF DAMAGES, AMONG OTHERS, IN RESPECT OF OF ABOUT $130 MILLION DOLLARS IN RESPECT OF BIC FOR SOME PAYMENT CLAIMS.FRONTERA ENERGY CORP - TO FUND 100% OF FIRST $10 MILLION OF DRILLING & COMPLETION COSTS OF LA BELLEZA-1 EXPLORATION WELL.FRONTERA - INTENDS TO CLAIM RECOVERY OF DAMAGES, IN RESPECT OF CLC FOR RELEASE OF ABOUT $32 MILLION IN RESTRICTED CASH FOR TARIFF OVERCHARGES.FRONTERA ENERGY - AS OF FEB 6, CO HAS HEDGED ABOUT 18% OF EXPECTED 2019 COLOMBIA NET PRODUCTION, USING PUT OPTIONS WITH STRIKE PRICE OF $55/BBL BRENT.FRONTERA ENERGY CORP - AFTER CO FUNDS 100% OF FIRST $10 MILLION, COSTS ON BLOCK WILL BE SPLIT 50/50 WITH PAREX.  Full Article

Parex Resources Q2 Earnings Per Share $1.21
Thursday, 9 Aug 2018 

Parex Resources Inc ::PAREX ANNOUNCES 2018 SECOND QUARTER RESULTS.Q2 EARNINGS PER SHARE $1.21.QUARTERLY PRODUCTION WAS 42,625 BARRELS OF OIL EQUIVALENT PER DAY.QTRLY FFO LOSS PER SHARE $0.10.QTRLY ADJUSTED FFO PER SHARE $0.78.  Full Article

Parex To Explore Potential Strategic Repositioning
Wednesday, 18 Jul 2018 

Parex Resources Inc ::PAREX TO EXPLORE POTENTIAL STRATEGIC REPOSITIONING.STRATEGIC REPOSITIONING REVIEW WILL FOCUS ON POTENTIAL SALE OF COMPANY'S LONG LIFE SOUTHERN CASANARE ASSETS.STRATEGIC REPOSITIONING REVIEW WILL ALSO FOCUS ON RETENTION OF HIGH IMPACT EXPLORATION ASSETS.REGARDING STRATEGIC REPOSITIONING REVIEW, CONSIDERATION WILL ALSO BE GIVEN TO A CORPORATE SALE.PAREX-DUE TO STRATEGIC REPOSITIONING ALTERNATIVES, HAS ELECTED TO TERMINATE ITS AUTOMATIC SHARE PURCHASE PLAN TO PURCHASE UP TO 3 MILLION OF ITS SHARES.REVIEW PROCESS HAS NOT BEEN INITIATED AS A RESULT OF RECEIVING ANY TRANSACTION PROPOSAL.PLANNED CAPEX FOR REST OF 2018 EXPECTED TO BE FUNDED BY FUNDS FLOW FROM OPERATIONS.PAREX RESOURCES - A BOARD SPECIAL COMMITTEE WILL WORK WITH MANAGEMENT, CO'S EXTERNAL ADVISORS TO SUPERVISE STRATEGIC REPOSITIONING ALTERNATIVES REVIEW.PAREX RESOURCES - ENGAGED SCOTIA CAPITAL AS FINANCIAL ADVISOR IN CONNECTION WITH REVIEW AND ANALYSIS OF STRATEGIC REPOSITIONING ALTERNATIVES.  Full Article

Parex Estimates Q2 Production To Average 42,500 Barrels Of Oil Equivalent Per Day
Tuesday, 26 Jun 2018 

June 25 (Reuters) - Parex Resources Inc ::PAREX DELIVERS THE 24TH CONSECUTIVE QUARTER OF GROWTH.ESTIMATE THAT Q2 2018 PRODUCTION TO AVERAGE 42,500 BARRELS OF OIL EQUIVALENT PER DAY.EXPECT AVERAGE Q3 2018 PRODUCTION TO EXCEED 44,000 BOE/D..PAREX -EXPECTS TO COMPLETE VOLUNTARY COLOMBIA TAX RESTRUCTURING PRIOR TO JUNE 30, 2018 THAT WOULD INCREASE Q2 CURRENT TAX EXPENSE TO ABOUT $175 MILLION.STRATEGIC RATIONALE FOR COLOMBIA TAX RESTRUCTURING IS TO MAKE COMPANY'S TAX STRUCTURE MORE EFFICIENT.EXPECTS TO FUND TAX RESTRUCTURING WITH EXISTING WORKING CAPITAL SURPLUS, WHICH WAS $205 MILLION AS OF MARCH 31, 2018.  Full Article

Parex Delivers 25% Self-Funded Production Growth In 2017
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Parex Resources Inc ::PAREX RESOURCES INC - ESTIMATES THAT Q4 2017 PRODUCTION AVERAGED 39,000 BARRELS OF OIL EQUIVALENT PER DAY.PAREX RESOURCES INC - ‍EXPECT AVERAGE Q1 2018 PRODUCTION TO EXCEED 40,000 BOE/D​.PAREX DELIVERS 25% SELF-FUNDED PRODUCTION GROWTH IN 2017.PAREX RESOURCES - ‍ ESTIMATE CO'S 2017 DEBT ADJUSTED PRODUCTION PER SHARE ANNUAL GROWTH EXCEEDED 25 PERCENT COMPARED TO 2016​.  Full Article

Parex' 2018 guidance cash flow funded growth to 41,000-43,000 BOE/D
Wednesday, 8 Nov 2017 

Nov 7 (Reuters) - Parex Resources Inc ::Parex' 2018 guidance: cash flow funded growth to 41,000-43,000 BOE/D.Parex Resources Inc - ‍anticipates production growth of 10pct-20pct in 2019​.Parex Resources Inc sees ‍2018 capital expenditures of $260 million -$290 million​.Parex Resources - ‍expect 2018 capital budget will be fully funded from funds flow from operations​.  Full Article

Parex reports Q3 earnings per share $0.36
Wednesday, 8 Nov 2017 

Nov 7 (Reuters) - Parex Resources Inc ::Parex announces 2017 third quarter results.Q3 earnings per share $0.36.Parex Resources Inc - ‍quarterly production was 36,195 boe/d an increase of 22 percent over prior year comparative period​.Parex Resources Inc - ‍sees 2018 production of 41,000-43,000 boe/d​.Parex Resources Inc sees ‍2018 capital expenditures of $260 million - $290 million​.  Full Article

Parex Resources sees Q1 2018 production to average above 40,000 boe/d​
Thursday, 12 Oct 2017 

Oct 11 (Reuters) - Parex Resources Inc :Q4 guidance increase with LLA-34 drilling success.Parex Resources Inc - ‍increasing Q4 2017 guidance to an average rate of 38,500 boe/d​.Parex Resources Inc - ‍estimate working capital as at september 30, 2017 to be approximately $135 million, an increase of $42 million over December 31, 2016​.Parex Resources Inc - ‍Q3 2017 production was approximately 36,150 barrels of oil equivalent per day​.Parex Resources Inc - expect Q1 2018 production to average above 40,000 boe/d​.  Full Article