Frontera Energy closes sale of Colombian E&P assets to Parex Resources

About this update from Frontera Energy Corporation

CALGARY - Frontera Energy Corp. says it has completed the sale of its Colombian exploration and production assets to Parex Resources Inc. in a deal valued at US$750 million including assumed debt. In connection with the transaction, Frontera announced a return of capital distribution to shareholders of C$8.34 per share. Frontera chief executive Orlando Cabrales Segovia says the transaction marked an important milestone for the company. He says Frontera is now well positioned as a focused infrastructure company with a clear path for growth. Frontera holds a 35 per cent interest in the Oleoducto de Los Llanos Orientales S.A. , one of Colombia's main crude oil pipelines, and its 99.97 per cent stake in Puerto Bahia , a maritime terminal in Colombia . Parex says the Frontera deal adds 37,000 barrels of oil equivalent per day of production.  This report by The Canadian Press was first published June 1, 2026 . Companies in this story: (TSX:FEC, TSX:PXT) © 2026 The Canadian Press, source Canadian Press DataFile

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