Canada's Parex Advances Crude Oil Production Growth in Colombia's LLA-111 Block
en.Wedoany.com Reported - On November 6, Canadian oil and gas company Parex Resources updated the development progress of the LLA-111 block in the Llanos Basin of eastern Colombia in its Q3 2026 operating announcement. The block's medium-gravity crude oil production has exceeded 6,000 barrels per day. The company is expanding crude oil export capacity in phases and plans to further increase production by approximately 2,000 barrels per day before the end of 2026. Meanwhile, Parex will continue well drilling and supporting facility construction to support the subsequent development of multiple oilfields in the area.
Existing wells in the LLA-111 block rely on natural reservoir energy for production, and current output is mainly constrained by crude oil export infrastructure capacity and road access conditions during the rainy season. Parex is advancing phased export system expansion and adjusting the timing and scope of infrastructure investment based on ongoing drilling results. With the arrival of the dry season in the fourth quarter, the company plans to improve crude oil transportation conditions and increase the actual output of existing wells.
Since the beginning of 2026, Parex has made four oil and gas discoveries in the block, and the related exploration results are being transitioned into subsequent development phases. The company plans to add approximately 20 exploration and development wells in the eastern Llanos region over the next 12 months to further develop existing discoveries and test new exploration targets. The LLA-111 block is gradually taking shape as a production and development area covering multiple oilfields, and the related drilling and export projects will become key capital investment priorities for the company in 2027.
Parex has also adjusted its capital expenditure plan for the second half of 2026, raising the expected spending range from US$275 million to US$295 million to US$285 million to US$315 million. The additional investment covers multiple development and exploration projects including the LLA-111 block, including infrastructure construction needed to support the conversion of existing exploration discoveries into actual production. The company plans to arrange project implementation based on subsequent drilling results and improvements in crude oil transportation capacity.
