Parex Resources reports Q4 EPS (70c) vs. $1.28 last year

Average production was 45,297 boe/d. Reports Q4 FFO per share $1.43 vs. $1.85 last year. Imad Mohsen, President & Chief Executive Officer, commented: “In 2024, Parex generated strong financial results from its underlying asset base while achieving its best annual safety performance. Despite challenges, we accomplished multiple strategic milestones throughout the year that reinforce Parex’s long-term sustainability. Building on a strong foundation, as reflected in today’s reserve report, we remain focused on executing our 2025 plan, which is characterized by lower-risk activities and a high-graded set of opportunities. The team at Parex is dedicated to rebuilding market confidence, by delivering steady results, evolving our Colombian portfolio, and strengthening our track record of shareholder returns – while also progressing towards Llanos Foothills exploration in 2026.”