Parex Resources Inc (PXT)

Overview

Parex Resources Inc. is a corporation that has carved a niche for itself in the oil and gas industry, focusing its operations primarily within Colombia. Founded in 2009 and based out of Calgary, Canada, the company has swiftly moved to secure its position in the competitive energy sector through strategic exploration, development, production, and marketing initiatives. Parex Resources has concentrated its efforts on exploiting the hydrocarbon potential within Colombia, particularly within the Llanos and Magdalena Basins, areas known for their rich oil and natural gas reserves. The company’s targeted approach in these regions demonstrates its commitment to sustainable growth and value creation in its chosen areas of operation.

Products and Services

• 55% Working Interest in Block LLA-34

  This product represents Parex Resources Inc.'s majority stake in one of its principal exploration and production areas within the Llanos Basin in Colombia. The company’s 55% working interest in Block LLA-34 is a testament to its significant investment and belief in the potential oil yields of this region. Development and production activities here are central to Parex's strategy for growth and profitability in the Colombian energy market.

• 100% Working Interest in Cabrestero Block

  Holding a 100% working interest, Parex Resources wholly owns the Cabrestero Block, indicating its complete control over exploration, development, and production activities in this area. This block, also located in the prolific Llanos Basin, allows Parex to fully capitalize on its expertise and operational efficiencies to maximize the extraction of oil and natural gas resources, contributing significantly to the company’s output and reserves.

• 50% Working Interest in Capachos Block and Block VIM-1

  With a substantial 50% working interest in both the Capachos Block and Block VIM-1, Parex Resources demonstrates its commitment to strategic partnerships and collaborative efforts in the energy sector. These stakes ensure that Parex remains a pivotal player in the exploration and development in diversified locations, including both the Llanos and Magdalena Basins. These interests facilitate a balanced portfolio approach, spreading operational risks while exploiting synergies from shared expertise and resources in these joint ventures.