Core Insights - Parex Resources Inc. reported strong financial and operational results for Q3 2025, with a regular dividend declared for Q4 2025 of C$0.385 per share [1][16][6] Financial Performance - The company generated funds flow from operations (FFO) of $105 million, equating to $1.09 per share, and realized a net income of $50 million or $0.52 per share basic [6][7][11] - Average oil and natural gas production was 43,953 boe/d, a 3% increase compared to the previous quarter [6][7] - Operating netback was reported at $34.71/boe, supported by favorable oil price differentials and lower current tax [6][7] - Capital expenditures for the quarter totaled $80 million, primarily focused on activities at LLA-32, LLA-74, LLA-34, and Capachos [6][7] Production and Operational Highlights - October 2025 average production reached 49,300 boe/d, indicating a steady increase in production momentum [6][13] - The company expects to exceed its FY 2025 average production guidance of 43,000 to 47,000 boe/d [11][12] - Production at LLA-32 has ramped up significantly, exceeding three times previous levels, with current production rates over 12,000 boe/d [6][14] - Near-field exploration success at LLA-74 has resulted in a 75% success rate in 2025, with five producing wells [6][14] Future Outlook - The company plans to bring onstream four to six production-adding wells in Q4 2025, alongside drilling the VIM-1 exploration well [14][19] - Management anticipates being at the higher end of the capital expenditure range of $285 to $315 million for 2025, driven by successful follow-up drilling [12][11] - The Guapo-1 exploration well on the VIM-1 block has been spud, targeting gas and condensate, with preliminary results expected by year-end 2025 [19][6]

Core Viewpoint - Parex Resources Inc. has announced a production update for Q3 2025, with an expected average production of 44,000 barrels of oil equivalent per day (boe/d), supported by strong asset performance and exploration results [1][7]. Production Update - For the three months ended September 30, 2025, the production breakdown is as follows: - Block LLA-34: 20,800 boe/d - Southern Llanos: 16,950 boe/d - Northern Llanos: 2,750 boe/d - Magdalena Basin: 2,100 boe/d - Natural Gas Production: 1,400 mcf/d - Average Production: 44,000 boe/d [3][7]. - Monthly production for July and August 2025 was 44,400 boe/d and 43,500 boe/d respectively, leading to an average of 44,050 boe/d for the quarter [4][7]. Future Expectations - The company anticipates bringing onstream four to six production-adding wells across LLA-32, Capachos, and Putumayo by the end of 2025, which is expected to support Q4 2025 production and set a strong entry into 2026 [7][12]. - Current field production has increased by over 40% since the tuck-in acquisition at LLA-32, with recent exploration success contributing to an increase in average production to approximately 46,500 boe/d [7][12]. Company Overview - Parex Resources Inc. is one of the largest independent oil and gas companies in Colombia, focusing on sustainable and conventional production. The company is headquartered in Calgary, Canada, with an operating office in Bogotá, Colombia [6]. - Parex shares are traded on the Toronto Stock Exchange under the symbol PXT [6].

Core Insights - Prairie Provident Resources Inc. reported its financial and operational results for Q2 2025, highlighting significant production increases and improved financial metrics compared to previous periods [1][5]. Financial Highlights - Q2 2025 production averaged 2,762 boe/d, a 35% increase from Q2 2024 and a 24% increase from Q1 2025, driven by higher Basal Quartz production [5][7]. - Operating expenses for Q2 2025 were $25.37 per boe, a 35% decrease from Q2 2024, attributed to higher production volumes [5][7]. - The operating netback for Q2 2025 was $4.9 million, or $19.45 per boe, representing a 634% increase compared to Q2 2024 [5][7]. - The company reported a net loss of $6.5 million in Q2 2025, a slight improvement from a loss of $6.9 million in Q2 2024 [5][7]. Production and Operational Updates - The company successfully brought three Basal Quartz wells into production in April 2025, with initial production rates showing promising results [3][4]. - The Michichi BQ play is characterized by variable reservoir and geological rock characteristics, with the company actively pursuing additional delineation [4][6]. - Prairie Provident has identified approximately 50 potential drilling opportunities targeting medium crude oil on its Michichi lands [6]. Capital Expenditures - Capital expenditures for Q2 2025 were reported at $2.923 million, significantly higher than the $440,000 in Q2 2024 [7][25]. - The company received additional funding of US$0.6 million through the issuance of Second Lien Notes in early June 2025 [5]. Market Context - The company operates in the Alberta oil and gas sector, focusing on optimizing cash flow from existing assets while maintaining stable production levels [10].

Core Insights - Parex Resources Inc. reported strong financial and operational results for Q2 2025, with a funds flow from operations of $105 million and a declared dividend of C$0.385 per share for Q3 2025 [1][7][15] - The company anticipates a steady increase in production through the end of the year, driven by successful near-field exploration results and ongoing development drilling [2][11] Financial Performance - For Q2 2025, Parex generated funds flow from operations of $105 million, equating to $1.08 per share, and realized a net income of $49 million or $0.50 per share [7][8] - Average oil and natural gas production was reported at 42,542 boe/d, with July 2025 average production at 44,450 boe/d [7][11] - The company incurred capital expenditures of $89 million, primarily from activities at LLA-32, LLA-34, and LLA-74 [7][8] Operational Highlights - Parex successfully delivered three near-field exploration wells in H1 2025, contributing approximately 2,500 bbl/d to current production [7][16] - The company is progressing with a five-well development program at LLA-32 and plans to initiate a two-well development campaign in Capachos in Q3 2025 [11][16] - The company has also completed an in-fill drilling campaign at LLA-34, with initial production results exceeding expectations [16] Capital Management - The company declared a regular dividend of C$0.385 per share for Q3 2025, which is annualized to C$1.54 per share [15] - Parex has repurchased approximately 1.1 million shares under its normal course issuer bids, totaling around $11 million [17] Corporate Guidance - The 2025 corporate guidance remains unchanged, with an average production target of 43,000 to 47,000 boe/d and capital expenditure guidance of $285 to $315 million [11][12] - The company forecasts an effective tax rate of 5-10% for FY 2025 based on current netback structures [7][12] ESG and Sustainability - Parex published its 11th annual sustainability report, integrating the Task Force on Climate-Related Financial Disclosures (TCFD) for the fourth consecutive year [18]

Core Viewpoint - Parex Resources Inc. has announced a production update and plans to release its Q2 2025 financial and operating results on July 30, 2025 [1] Production Update - Estimated average production for Q2 2025 was 42,550 barrels of oil equivalent per day (boe/d) [6] - Monthly average production for June 2025 was approximately 43,950 boe/d, showing growth supported by positive exploration results and the successful startup of a horizontal well at LLA-74 in the Southern Llanos [6] - Breakdown of production by region for Q2 2025 includes: - Block LLA-34: 21,500 boe/d - Southern Llanos: 13,800 boe/d - Northern Llanos: 4,000 boe/d - Magdalena Basin: 2,250 boe/d - Natural Gas Production: 1,000 boe/d [3] Monthly Production Breakdown - Monthly average production figures are as follows: - April 2025: 41,350 boe/d - May 2025: 42,300 boe/d - June 2025: 43,950 boe/d [4] Product Type Disclosure - For the three months ended June 30, 2025, the product type breakdown was: - Light & Medium Crude Oil: 10,662 barrels per day (bbl/d) - Heavy Crude Oil: 30,899 bbl/d - Conventional Natural Gas: 5,941 thousand cubic feet per day (mcf/d) [7] Upcoming Events - Parex will host a conference call and webcast on July 30, 2025, at 9:30 am MT (11:30 am ET) to discuss its Q2 2025 results [5]