Parex Resources Announces Production Update and Timing of Q2 2026 Results

CALGARY, Alberta, July 06, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. ("Parex" or the "Company") (TSX: PXT) announces a production update as well as plans to release its Q2 2026 financial and operating results on Friday, July 31, 2026.

Q2 2026 Production Update(1)(2)

• Q2 2026 average production was 54,090 boe/d.

• Production in June was supported by the successful closing of the acquisition of Frontera E&P(3) and increased production from near-field exploration success at LLA-111.

• On June 1, 2026, the Company successfully closed the acquisition of Frontera E&P, which added over 37,000 boe/d of cash-generating, low decline production to its June production volumes.

• At LLA-111, three wells are currently producing over 5,000 bbl/d of medium crude oil, with egress capacity constraining production; Parex expects a continuous exploration and development campaign to enable future growth.

• Parex exited Q2 2026 at approximately 83,000 boe/d and is reiterating its H2 2026 average production guidance of 82,000 to 91,000 boe/d(4), supported by ongoing success at LLA-111, expected new production from the recently announced Ecopetrol partnership in the Magdalena(5), and stable production from base assets.
  
  

(1) Production numbers are preliminary and subject to final reconciliation.
(2) See "Product Type Disclosure" for a breakdown of production by product type.
(3) As previously announced on June 1, 2026.
(4) FY 2026 average production guidance of 63,000 to 67,000 boe/d is also being reiterated; as previously announced on May 12, 2026.
(5) As previously announced on May 4, 2026.

Monthly Production Breakdown(1)(2)

(1) Production numbers are preliminary and subject to final reconciliation; rounded for presentation purposes.
(2) See "Product Type Disclosure" for a breakdown of production by product type.

Q2 2026 Results – Conference Call & Webcast

Parex expects to release its Q2 2026 financial and operating results before markets open on Friday, July 31, 2026, with the Company planning to host a conference call and webcast beginning at 9:30 am MT (11:30 am ET). To participate in the conference call or webcast, please see the access information below:

About Parex Resources Inc.