Parex Resources has many upstream targets in 2021
Parex Resources steps out of the shadows
Colombia-focused producer plans to accelerate upstream growth and is eyeing licensing rounds
Production shut-ins may have left many Colombian oil and gas operators unable to take advantage of the recent commodity price hike. But Calgary-based E&P Parex Resources is bullish about the country’s near-term prospects and is stumping up the cash. The operator expects to more than double its capex over the second half of the year as Colombia returns to greater stability and upstream developments pick up steam. Parex suffered a 4pc drop in production in Q2 on a quarter-on-quarter basis, mainly because of midstream disruptions caused by demonstrations, but conditions have since mostly settled. “We looked at the opportunities and said we need to catch up for 2020… and that is wha
Also in this section
1 April 2025
There is method to the US president’s apparent madness, and those seeking to understand need look no further than their local bookshop
1 April 2025
Strong economic growth targets are encouraging for the country’s energy demand growth, even if meeting those goals might be a tall order
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
