Parex Resources Announces First Quarter Results, First Production at Arauca, and Declaration of Increased Q2 2024 Dividend
(8) Diluted shares as stated include common shares and stock options outstanding at period end; March 31, 2024 closing price was C$21.64 per share.
- (8) Diluted shares as stated include common shares and stock options outstanding at period end; March 31, 2024 closing price was C$21.64 per share.
- Parex views the agreements as having high-graded its exploration portfolio, while maintaining the Company's long-term capital allocation framework.
- Second quarter-to-date estimated average production is approximately 56,000 boe/d, reflecting strong base production from Cabrestero and LLA-34, initial Arauca production, and a successful restart of Capachos.
- The Company's 2024 near-field exploration plan is progressing, with the first well expected to spud in Q2 2024.