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
16 June 2025
The launch of the much-needed yet oft-delayed Africa Energy Bank remains shrouded in questions and funding constraints, but its potential is clear
16 June 2025
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
13 June 2025
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
13 June 2025
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
