$1.6B
USD
Market cap · 2026–07 · week 29
🇨🇦 Canada, Calgary
Country
Oil & Gas
Sector
Producer · Mid-Tier · Upstream · Oil-weighted · Oil · South America
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Overview:
Parex Resources Inc. is an independent oil and gas exploration and production company headquartered in Calgary, Canada, with operations exclusively in Colombia. The portfolio comprises multiple onshore blocks across the Llanos, Magdalena, and Putumayo basins, with key producing assets including the LLA-34, Cabrestero, LLA-32, Capachos, VIM-1, and Arauca blocks. The business model centers on exploiting its high-quality asset portfolio through ongoing development, enhanced-recovery initiatives, and near-field exploration, while targeting transformational high-impact exploration opportunities. Parex operates as a multi-field operator, leveraging industry-proven technology to optimize capital efficiency across its Colombian portfolio. A defining competitive characteristic is its scaled, operated position in Colombia combined with a growing liquids-rich gas focus. This concentration in a single country provides operational depth but also exposes the company to country-specific risk. The combination of producing assets, enhanced recovery, and exploration optionality underpins a returns-focused model. The organization remains subject to risks associated with international operations, including social instability, guerrilla activity, and regulatory change in Colombia, as well as commodity-price volatility.
Strategy:
Strategic focus centers on onshore Colombia through three integrated pillars: exploitation and technology, near-field exploration, and high-impact exploration, with an emphasis on capital discipline and risk-managed growth. The enterprise intends to generate long-term value and sustainable shareholder returns, supported by its reserve base, netbacks, and balance sheet. A core objective is to grow onshore gas production from liquids-rich gas fields and to target transformational exploration opportunities. Capital allocation is prioritized to fund operations, growth, and shareholder returns, including a regular quarterly dividend and share repurchases under a normal course issuer bid. The organization pursues strategic land acquisitions and joint-venture agreements, notably with Ecopetrol, to consolidate positions along the Llanos Foothills trend and expand its exploration footprint in the Putumayo Basin. This combination of disciplined exploitation and risk-managed exploration underpins the company's growth strategy. The shift toward liquids-rich gas diversifies the company's product mix and growth options. The expansion into liquids-rich gas and the Putumayo Basin broadens the company's growth options in Colombia.
Management:
Executive leadership is headed by President and Chief Executive Officer Imad Mohsen, who previously served as Chief Executive Officer of Tulip Oil Holding B.V. The Board is chaired by Wayne Foo, who was formerly the Chief Executive Officer of Parex. The 8-member Board of Directors oversees corporate strategy through standing committees, including the Finance and Audit Committee, the Corporate Governance and Nominating Committee, the Health, Safety and Environment and Reserves Committee, and the Human Resources and Compensation Committee. The 3 members of the Finance and Audit Committee are independent and financially literate. Governance practices emphasize risk management through an Enterprise Risk Management program and adherence to an Anti-Bribery, Anti-Corruption and Anti-Fraud Policy appropriate to the company's single-country operating profile. Board oversight of health, safety, environment, and reserves reflects the technical and country-specific dimensions of the company's Colombian operations. This governance structure keeps capital discipline and risk management central to executive accountability. The Enterprise Risk Management program and anti-corruption policy reflect the company's single-country operating profile.
Sustainability:
The organization's sustainability framework incorporates environmental, social, and governance considerations into its strategy and operations, with active engagement with local communities to maintain its social licence to operate in Colombia. Environmental strategies include conducting environmental impact assessments and preparing project-specific environmental management plans for its operations. The company maintains an integrity-monitoring and management program for its facilities, storage tanks, and pipelines, and generally does not dispose of produced water above ground. Social programs focus on creating local employment opportunities, providing education and training programs, and engaging communities in environmental management studies. The enterprise publishes an annual sustainability report aligned with the Sustainability Accounting Standards Board, the Task Force on Climate-related Financial Disclosures, and the Global Reporting Initiative standards. These programs connect the company's Colombian operations with community engagement and environmental stewardship that underpin its social licence. Community engagement and environmental management underpin the company's social licence to operate in Colombia.
Structure:
Corporate development has been shaped by a series of strategic agreements with Ecopetrol. In April 2024, Parex Colombia entered into definitive agreements with Ecopetrol to consolidate their position along the Llanos Foothills trend, receiving a 50% participating share in the Siriri Convenio and assuming operatorship of the LLA-121 block. In October 2024, Parex Colombia assumed a 100% participating interest in and operatorship of the Mundo Nuevo Association Contract. In December 2024, the entity acquired a 50% working interest and operatorship in the Farallones Convenio and entered into four business-collaboration agreements to earn a 50% participating share in the Orito, Area Sur, Occidente, and Nororiente blocks in the Putumayo Basin. In March 2025, Verano Energy acquired an additional 25% working interest in the Azogue field and 12.5% in the remainder of the LLA-32 block, resulting in a 100% working interest. The corporate structure includes material subsidiaries Parex Resources (Switzerland) AG, Parex Resources (Colombia) AG, and Verano Energy (Switzerland) AG. These agreements expand the company's exploration footprint while consolidating operated positions in its core trends.
Hedge:
The company periodically manages risks associated with fluctuations in commodity prices and foreign-currency exchange rates through the use of derivative instruments. Under the company's risk-management approach, commodity instruments are applied from time to time to a portion of oil and gas production to protect cash flow and project economics, while foreign-exchange instruments manage exposure between the US dollar and the currencies relevant to its Colombian operations. The Board of Directors periodically reviews the results of all risk-management activities and outstanding positions to ensure they remain within established tolerances. This selective, board-monitored approach reflects the company's preference for retaining commodity-price exposure while managing specific risks tied to its capital program. By managing both price and currency exposures, the company seeks to stabilize cash flow in support of its dividend and shareholder-return commitments.
Source:
Parex Resources Inc. - Annual Information Form - 2025
Portfolio Aggregate · 1 project
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
Parex Consolidated
Portfolio
Colombia, Colombia
Oil Gas
Type
Operating
Status
🇨🇴 Colombia, Colombia
Country
Project information
As at 31 December 2025
Aggregation level:
Company portfolio
Aggregation level:
Company portfolio
Report standard:
Ni 51 101
Report standard:
Ni 51 101
Ownership %:
100
Ownership %:
100
Operator:
Yes
Operator:
Yes
Extraction:
Conventional Oil Gas
Extraction:
Conventional Oil Gas
Producing wells (net):
147.55
Producing wells (net):
147.55
Description
As at 31 December 2025
Consolidated reserves and production for Parex Resources across all properties in Colombia, including the Llanos, Magdalena, and Putumayo basins.
Portfolio Aggregate
As at 31 December 2025 · 2P
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Oil & Gas inventory & footprint
As at 31 December 2025
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Reserves & resources — detail
As at 31 December 2025
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Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Oil & Gas sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Oil & gas
- 1P/2P/3P — cumulative uncertainty. 1P = Proved (≥90%); 2P = Proved+Probable (≥50%, primary non-SEC metric); 3P adds Possible (≥10%). SEC filers often publish 1P only.
- Contingent (1C/2C/3C) = discovered, sub-commercial. Prospective (1U/2U/3U) = undiscovered. Neither feeds economic models without further work.
- Developed vs Undeveloped: PDP (producing), PDNP (developed non-producing), PUD (undeveloped). Reserves walk PUD→PDP is reclassification, not new discovery.
- BOE uses 6 Mcf gas : 1 bbl oil (thermal, not economic). Some issuers use 5.8:1 — read footnotes.
- Pricing case: Forecast vs Constant (NI 51-101/PRMS) or SEC 12-month average. Do not add cases together.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Oil & Gas — one row per O&G project (typically a field, licence, play or basin asset), with columns for location, status, primary hydrocarbons, production (with rating), reserves & resources (with rating), costs and estimated lifetime.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- Reserves walk — gross (disclosed) — year-by-year reconciliation of the opening balance to the closing balance, broken into Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production and Conversion to developed.
- Reserves walk — net change by year — per-year summary of net additions and net deductions across the portfolio.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Oil equivalent (BOE)
Oil equivalent (BOE)
-
See commodity documentation in the domain package.
Oil
Generic crude (undifferentiated)
WTI
Use West Texas Intermediate directly as a coarse benchmark when the filing does not split product quality.
Natural gas
Pipeline natural gas
Henry Hub
Henry Hub is the reference US benchmark for US pipeline gas; use it directly when the disclosure is Hub-indexed.
NGL
NGL barrel (mixed NGLs)
Mont Belvieu NGL basket vs WTI
NGL barrels often track a fraction of crude; order-of-magnitude context is commonly cited around two-fifths to three-fifths of WTI.
Shale gas
Gas from shale / tight reservoirs
Henry Hub plus regional basis
Regional hubs price as Henry Hub plus or minus basis; shale supply broke tight coupling to oil, so do not back-solve shale gas from WTI.
Light oil
Light sweet crude
WTI / Brent
WTI and Brent are often treated as roughly 1:1 for light sweet barrels when a single anchor is enough.
Heavy oil
Heavy sour crude
WCS vs WTI
Western Canadian Select–style heavy blends often trade on the order of $10–20/bbl below WTI when differentials are in a normal range.
Bitumen
Oil-sands bitumen blend
WCS vs WTI
Same broad idea as heavy oil: bitumen blends anchor to wide differentials versus light sweet benchmarks such as WTI.
Synthetic crude
Upgraded oil-sands synthetic crude (SCO)
SCO vs WTI
Synthetic crude typically tracks WTI within a few dollars — sometimes near par, sometimes a small premium or discount.
Condensate
Field condensate / diluent
US condensate vs WTI
Field condensate can trade below WTI; some multi-year averages have been in the high single-digit dollars per barrel under WTI.
Coal bed methane
Coalbed methane (CBM)
Regional hub vs Henry Hub
CBM is usually quoted off a regional benchmark versus Henry Hub; it is a distinct product stream from tight shale gas in many filings.
Hydrocarbon commodity — notes
- The Commodity column shows normalized labels; values are stored as snake_case CommodityCode strings in pkg/domain and project resource rows (for example shale_gas, oil_equivalent).
- Benchmarks and typical relationship cells are informal market context for reading disclosures — they are not MetalPilot price inputs.
Crude grade primer
- API gravity — lower = heavier. Light crude is ≥ 31.1° API (≤ 870 kg/m³); heavy is 22.3–31.1° API; extra-heavy is < 22.3°. Bitumen is ≤ 10° API.
- Sulphur — sweet vs sour. Sweet crude has ≤ 0.5% sulphur; sour > 0.5%. Refineries price the discount on sour crude into the differential.
- WTI vs Brent vs WCS. WTI (West Texas Intermediate, Cushing OK) is the U.S. light-sweet benchmark; Brent (North Sea) is the global light-sweet benchmark; WCS (Western Canadian Select) is the heavy/sour benchmark for Canadian production.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Natural gas
1 / 5
0–4 Bcf/yr
0–50 Bcf
2 / 5
4–20 Bcf/yr
50–500 Bcf
3 / 5
20–75 Bcf/yr
500–2000 Bcf
4 / 5
75–180 Bcf/yr
2000–10000 Bcf
5 / 5
≥ 180 Bcf/yr
≥ 10000 Bcf
NGL
1 / 5
0–0.1 MMbbl/yr
0–2 MMbbl
2 / 5
0.1–0.5 MMbbl/yr
2–10 MMbbl
3 / 5
0.5–2 MMbbl/yr
10–25 MMbbl
4 / 5
2–5 MMbbl/yr
25–100 MMbbl
5 / 5
≥ 5 MMbbl/yr
≥ 100 MMbbl
Light oil
1 / 5
0–0.5 MMbbl/yr
0–5 MMbbl
2 / 5
0.5–5 MMbbl/yr
5–25 MMbbl
3 / 5
5–20 MMbbl/yr
25–100 MMbbl
4 / 5
20–75 MMbbl/yr
100–500 MMbbl
5 / 5
≥ 75 MMbbl/yr
≥ 500 MMbbl
Heavy oil
1 / 5
0–0.5 MMbbl/yr
0–5 MMbbl
2 / 5
0.5–5 MMbbl/yr
5–25 MMbbl
3 / 5
5–20 MMbbl/yr
25–100 MMbbl
4 / 5
20–75 MMbbl/yr
100–500 MMbbl
5 / 5
≥ 75 MMbbl/yr
≥ 500 MMbbl
Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
Assumptions
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
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