Parex Resources reports Q1 EPS 82c vs. 58c last year

Reports Q1 revenue $58.07M vs. $59.59M last year. “We entered the year with a disciplined and diversified plan aimed at delivering steady performance, and given current market volatility, are focused on sustaining base production and maintaining flexibility,” commented Imad Mohsen, President & Chief Executive Officer. “After a measured first quarter, drilling activity is increasing consistent with our budget. The recent tuck-in acquisition of LLA-32, an asset integral to our development plans, along with encouraging exploration results, represent key milestones that will drive near-term production. While we are well-positioned to deliver a strong second half, we will closely monitor commodity prices and our capital allocation throughout the year to maximize shareholder value.”