Parex Bank

Parex Resources Announces Record Full-Year & Fourth Quarter Production, Arauca Discovery, and Publishes 2024 Guidance

Retrieved on: 
Tuesday, January 16, 2024
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Arauca (Business Collaboration Agreement with Ecopetrol S.A. (Parex 50% Participating Share)) Update(1)

Key Points: 
  • Arauca (Business Collaboration Agreement with Ecopetrol S.A. (Parex 50% Participating Share)) Update(1)
    “Overall, the initial results that we are seeing from the first two wells at Arauca are promising.
  • Arauca-8 was drilled to a total depth of 21,010 feet as a pacesetting well and encountered the expected Guadalupe, Gacheta, and Une zones.
  • The sidetrack is expected to be completed in late Q1 2024, with the well brought onstream in early Q2 2024.
  • Parex will host a conference call and video webcast to discuss its Q4 2023 results on Friday, March 1, 2024.

Parex Resources Announces Third Quarter Results, Arauca Drilling Success and Declaration of Q4 2023 Dividend

Retrieved on: 
Tuesday, November 7, 2023
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Building on strong current production, the Company is positioned to bring online three key wells over the remainder of Q4 2023: Arauca-15 (50% W.I.

Key Points: 
  • Building on strong current production, the Company is positioned to bring online three key wells over the remainder of Q4 2023: Arauca-15 (50% W.I.
  • This is the first well to be drilled by Parex within the high-potential Foothills trend and is expected to spud in Q4 2023.
  • Parex’s Board of Directors has approved a Q4 2023 regular quarterly dividend of C$0.375 per share to be paid on December 29, 2023, to shareholders of record on December 15, 2023.
  • Parex will host a conference call and video webcast to discuss the Q3 2023 results on Wednesday, November 8, 2023, beginning at 9:30 am MT (11:30 am ET).

Parex Resources Announces Appointment of Sanjay Bishnoi to Chief Financial Officer

Retrieved on: 
Thursday, August 24, 2023
Petro, Canada, Boston Consulting Group, Bachelor of Science, Imperial Oil, University, Moses Austin, Senior, Doctor of Philosophy, GE, MBA, Organization, TotalEnergies, TSX, Dow Chemical Company, Chemical engineering, PXT, Management, Finance, Enerflex, Parex Bank

CALGARY, Alberta, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce the appointment of Sanjay Bishnoi to Chief Financial Officer, effective October 2, 2023.

Key Points: 
  • CALGARY, Alberta, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce the appointment of Sanjay Bishnoi to Chief Financial Officer, effective October 2, 2023.
  • “We are excited to welcome Sanjay to the Parex team,” said Imad Mohsen, President & Chief Executive Officer.
  • Most recently, he held the position of Chief Financial Officer at TotalEnergies EP Canada.
  • Mr. Pinsky joined Petro Andina, Parex’s predecessor, in 2008 as Vice President, Finance, and Chief Financial Officer, and has been the Chief Financial Officer of Parex since its inception.

Parex Resources Announces Second Quarter Results, Declaration of Q3 2023 Dividend, and Operational Update

Retrieved on: 
Thursday, August 3, 2023
Light, SOCA, National instrument, Natural gas, Ecopetrol, IP90, Oil, Airline, Parex Bank, Víctor Capacho, Cherimoya

): All injector wells on the block have been drilled, with four more producers expected to be drilled over the remainder of 2023.

Key Points: 
  • ): All injector wells on the block have been drilled, with four more producers expected to be drilled over the remainder of 2023.
  • Parex continues to demonstrate how horizontal wells can be selectively placed to efficiently maximize recovery and production rates.
  • This discovery is an example of the short-cycle opportunistic production adds that Parex has within its Southern Llanos portfolio.
  • ): The Arauca-8 well, which is a multi-zone, high-impact exploration prospect targeting light crude oil, is expected to spud in late Q3 2023.

Parex Resources Provides Update on Chirimoya Well at VIM-43

Retrieved on: 
Monday, July 17, 2023
TSX, PXT, Parex Bank, Mining, Cherimoya

CALGARY, Alberta, July 17, 2023 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) reports that with testing completed, it has abandoned the Chirimoya exploration well at VIM-43 (100% W.I.).

Key Points: 
  • CALGARY, Alberta, July 17, 2023 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) reports that with testing completed, it has abandoned the Chirimoya exploration well at VIM-43 (100% W.I.).
  • As previously announced, Parex reached the Chirimoya exploration wells’ target depth of approximately 17,500 feet.
  • Following open hole evaluation, including logging operations, the Company made the decision to case and test the well.
  • The Chirimoya exploration well was the first prospect in a three well 2023 big ‘E’, high-impact exploration program.

Parex, a Community-Driven Blockchain Ecosystem, Raises US$ 6.5 Million From Bitgert Ventures and DWFLabs

Retrieved on: 
Friday, May 12, 2023
DAO, US, Ecosystem, Decentralized finance, Decentralized autonomous organization, Mining, Cryptocurrency, Parex Bank

Parex, a community-driven DAO, has raised US$ 3 million from DWFLabs, a multi-stage Web3 investment company, and US$ 3.5 million from Bitgert Ventures.

Key Points: 
  • The funding was provided by DWF Labs that invested US$ 3 million, and Bitgert Ventures, the investment arm of the cryptocurrency exchange Bitgert which invested US$ 3.5 million.
  • Liam Anthony, CEO of Parex, expressed his pride in DWFLabs and Bitgert Ventures, two significant investors who have faith in Parex's promising future.
  • "As a company, Parex is committed to developing innovative blockchain solutions that prioritize community involvement and reduce inflation.
  • With the support and expertise of top investors like DWFLabs and Bitgert Ventures, we are even stronger as we gear up for the launch of the PEP20 Mainnet," he said.

Parex Resources Announces Voting Results of Shareholders’ Meeting

Retrieved on: 
Thursday, May 11, 2023
TSX, Meeting, PXT, Oil, Holding company, Parex Bank

CALGARY, Alberta, May 11, 2023 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce that on May 11, 2023, that it held its annual general and special meeting of shareholders (the “Meeting”) and all matters presented for approval have been fully authorized and approved.

Key Points: 
  • CALGARY, Alberta, May 11, 2023 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce that on May 11, 2023, that it held its annual general and special meeting of shareholders (the “Meeting”) and all matters presented for approval have been fully authorized and approved.
  • At the Meeting, shareholders approved the election of nine nominees as directors of Parex to serve until the next annual meeting of shareholders or until their successors are elected or appointed.
  • The results of the ballot were as follows:

Parex Resources Announces First Quarter Results, Declaration of Q2 2023 Dividend, and Pending Retirement of Chief Financial Officer

Retrieved on: 
Wednesday, May 10, 2023
Petro, Annual, VIM, Light, Reserve Square, Task Force on Climate Related Financial Disclosures, Retirement, National instrument, Corporation, Natural gas, Special, Development, Family, Conference, Ecopetrol, Oil, Holding company, Clothing, Management, Finance, Parex Bank, Víctor Capacho, Cherimoya

Following a successful 35-year career, Ken Pinsky, Chief Financial Officer and Corporate Secretary, is electing to retire effective November 30, 2023.

Key Points: 
  • Following a successful 35-year career, Ken Pinsky, Chief Financial Officer and Corporate Secretary, is electing to retire effective November 30, 2023.
  • Mr. Pinsky joined Petro Andina, Parex’s predecessor, in 2008 as Vice President, Finance and Chief Financial Officer, and has been the Chief Financial Officer of Parex since its inception.
  • ): The Company continues to engage with stakeholders at all levels and expects that drilling operations will resume in Q2 2023.
  • Parex intends to issue its ninth annual sustainability report, alongside its second integrated Task Force on Climate-Related Financial Disclosures ("TCFD"), in Q2 2023.

Parex Resources Announces Resumption of Operations at Capachos as well as the Timing of Q1 2023 Results and Annual General Meeting

Retrieved on: 
Monday, April 17, 2023
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), announces that it will release its Q1 2023 financial and operating results on Wednesday, May 10, 2023, and will hold its Annual General and Special Meeting of shareholders at 9:30 am MT (11:30 am ET) on Thursday, May 11, 2023.

Key Points: 
  • ), announces that it will release its Q1 2023 financial and operating results on Wednesday, May 10, 2023, and will hold its Annual General and Special Meeting of shareholders at 9:30 am MT (11:30 am ET) on Thursday, May 11, 2023.
  • Following the positive progress at Capachos, the Company is aiming to resume drilling operations at its Arauca Block (50% W.I.)
  • Parex will release its Q1 2023 financial and operating results after markets close on Wednesday, May 10, 2023.
  • Further information regarding the Annual General and Special Meeting, including meeting materials, can be found at www.parexresources.com under Investors.

Parex Resources Announces Record 2022 Full-Year Results

Retrieved on: 
Wednesday, March 8, 2023
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CALGARY, Alberta, March 08, 2023 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three- and twelve-month periods ended December 31, 2022.

Key Points: 
  • CALGARY, Alberta, March 08, 2023 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three- and twelve-month periods ended December 31, 2022.
  • "Reflecting on my second year at Parex, I am extremely proud of our team's ability to deliver another year of record results.
  • Completed the 2022 normal course issuer bid ("NCIB"), marking the fourth consecutive year where Parex has purchased the maximum allowable shares per annum under its NCIB programs.
  • Delivered on track record of shareholder returns by completing the 2022 NCIB, repurchasing the maximum allowable shares (11.8 million shares in 2022) for the fourth consecutive year.