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
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
