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Parex Resources Announces Llanos Foothills Strategic Alliance, Operational Strength, and Timing of 2026 Guidance
CALGARY, Alberta, Dec. 05, 2025 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” o...
About this update from Parex Resources Inc.
[{"type":"text","content":"Parex Resources Announces Llanos Foothills Strategic Alliance, Operational Strength, and Timing of 2026 Guidance\n\n\n\n CALGARY, Alberta, Dec. 05, 2025 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) and its strategic partner Ecopetrol S.A. (“Ecopetrol”), are pleased to announce an update on their Llanos Foothills exploration program, where a full strategic alliance has effectively been achieved. Additionally, the Company provides an update on its corporate production and announces plans to release its 2026 guidance on January 19, 2026.\n \n\n\n\n Key Highlights\n \n\n\n\n\n Finalized Niscota agreement, strengthening Llanos Foothills position and securing the Floreña Huron exploration prospect.\n \n\n Advanced the Farallones exploration prospect in the Llanos Foothills, with regulatory approvals secured and initial work underway.\n \n\n Continued to sustain strong production levels in November 2025, with QTD Q4 2025 average production currently 49,700 boe/d\n \n (\n \n\n 1\n \n\n )\n \n .\n \n\n\n\n\n “Parex has long maintained a Colombia-focused gas strategy, and today’s announcement underscores our commitment to expanding meaningful gas development in the country. With effectively all Foothills agreements and regulatory approvals complete, Parex and Ecopetrol have laid the foundation for a 50/50 strategic partnership across the Foothills basin – stretching from Gibraltar in the north, to Farallones in the south – with Parex as operator,” commented Imad Mohsen, President & Chief Executive Officer.\n \n\n “Through this partnership, we will leverage our shared Colombian expertise, apply modern technology, and attract additional foreign investment for years to come, with the collective goal of finding resources and delivering new volumes of natural gas to the domestic market. After more than three years of public-private collaboration, I am excited to see the final piece of the puzzle come together, and confident that our joint efforts will greatly benefit Colombia and all our stakeholders.”\n \n\n “Additionally, I am pleased to share that Parex continues to see strong operational performance across our portfolio. Our fourth-quarter execution is on track, and I am looking forward to 2026 with e...