en.Wedoany.com Reported - Parex Resources has completed the acquisition of Frontera Energy's exploration and production assets in Colombia, becoming the largest independent oil and gas producer focused on that country.

The acquisition adds approximately 37,000 barrels of oil equivalent per day to the company's production and expands Parex's acreage to over 7.9 million acres, significantly enhancing its scale and reserve base in Colombia.

Parex stated that the acquisition supports its previously announced production guidance of 82,000 to 91,000 barrels of oil equivalent per day for the second half of 2026, and provides additional opportunities to improve operational performance through enhanced oil recovery, horizontal and multilateral well drilling, and advanced seismic imaging technologies.

"This is a significant milestone for Parex, marking the successful completion of this highly strategic transaction," said Imad Mohsen, President and Chief Executive Officer of Parex Resources. "Integrating Frontera E&P's upstream operations into our portfolio positions Parex as the largest independent upstream company focused on Colombia, bringing greater scale, higher capital efficiency, and a more resilient platform for long-term growth."

The acquisition includes a portfolio of producing assets, which Parex characterized by low decline rates and strong cash flow generation. The company also anticipates operational synergies through portfolio integration and optimization.

"We are advancing this integration with a clear focus on safety, operational continuity, and people," said Daniel Ferreiro, President and Country Manager of Parex Resources. "The experience and expertise of the employees joining Parex, combined with the strength of our existing team, will be critical to realizing the full value of this transaction."

Parex noted that the transaction solidifies its position in Colombia's upstream sector while providing additional flexibility to allocate capital across a broader range of development and exploration opportunities.

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