Parex Resources (TSE:PXT) has released an update.
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Parex Resources Inc. has updated its 2024 production guidance and capital expenditure figures due to underperformance at its Arauca site, despite stable production from other assets. The company has revised its average production forecast down and reduced capital spending, while maintaining a commitment to shareholder returns through a regular dividend and share buybacks. Additionally, Parex announced the departure of CFO Sanjay Bishnoi and the appointment of Cameron Grainger as Interim CFO.
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