Parex Resources Inc
TSX:PXT
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Parex Resources Inc
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Parex Resources Inc
Parex Resources, Inc. engages in the exploration, development, and production of crude oil. The company is headquartered in Calgary, Alberta and currently employs 371 full-time employees. The company went IPO on 2009-11-12. The firm through its foreign subsidiaries holds interests in onshore exploration and production blocks totaling approximately two million gross acres over 24 onshore blocks in Colombia’s Llanos and Magdalena Basins.
Parex Resources, Inc. engages in the exploration, development, and production of crude oil. The company is headquartered in Calgary, Alberta and currently employs 371 full-time employees. The company went IPO on 2009-11-12. The firm through its foreign subsidiaries holds interests in onshore exploration and production blocks totaling approximately two million gross acres over 24 onshore blocks in Colombia’s Llanos and Magdalena Basins.
Production: Q4 production averaged 48,606 BOE/day and full-year 2025 average production was approximately 45,000 barrels/day, meeting company guidance.
Growth from M&A/Execution: Block 32 (Frontera acquisition) production increased to more than 3x pre-acquisition levels; company drilled Colombia's first four-leg multilateral well.
Putumayo upside: Early Putumayo results strong — Orito shallow horizontal at ~600 bbl/day gross, Area Sur recomplete at ~1,500 bbl/day gross — management sees >1.8 billion barrels oil in place across blocks.
Capital returns & buybacks: Returned USD 134 million in 2025; total capital return CAD 2 billion over 8 years; diluted share count reduced by over 40% via repurchases.
Financials: Q4 funds flow from operations was $123 million ($1.28 per share); company says Brent has moved to over $80/bbl vs budget $60/bbl but wide heavy differentials (Vasconia ~+$8/bbl) offset some gains.
M&A positioning: Parex is pursuing a potential combination of Colombian E&P assets (Frontera), arguing scale, synergies and ability to optimize assets given partnerships and a clean balance sheet.
