Parex Resources Inc. (PXT) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone. Thank you for joining us and welcome to Parex Resources Q1 2026 operational and financial results. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to Mike Crookton, Senior Vice President, Capital Markets and Corporate Planning. Mike, please go ahead. Good morning. On the call with me today are President and Chief Executive Officer, Iman Molson, our Chief Financial Officer, Cam Granger, and our Chief Operating Officer, Eric Furlan. Please note that at any time, telephone participants on the call can press star one to submit a question. As a reminder, this conference call includes forward-looking statements as well as non-GAAP and other financial measures, with the associated risks outlined in our news release and MD&A, which can be found on our website or at cdarplus.ca. Note that all amounts discussed today are in U.S. dollars, unless otherwise stated. I'll now turn the call over to Matt. Please go ahead. Thank you, Mike, and good morning, everyone. Over the first half of 2026, Sparx executed a series of strategic transactions that have positioned us to become Colombia's largest independent E&P company. These transactions were designed to add complementary assets that enhance our scale, deepen our portfolio, strengthen the profitability and duration of our business for long-term growth. Starting with the Frontera transaction, for $725 million, This $725 million acquisition adds roughly 37,000 barrels equivalent a day of highly accretive production with strong industrial logic and compelling synergies. It materially increases our reserves inventory and strengthens lon...