Parex Resources reports Q2 EPS 50c vs. 4c last year

Average oil & natural gas production was 42,542 boe/d. “Our resilient business model, reinforced by favourable crude differentials and a continued focus on operational efficiency, drove strong financial results in the second quarter,” commented Imad Mohsen, President & Chief Executive Officer. “As we enter the second half of the year, strong near-field exploration results in the Southern Llanos, combined with the ramp-up in development drilling, are expected to drive a steady step-up in production through year-end.”