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Parex Resources Inc (PXT.TO)

PXT.TO on Toronto Stock Exchange

23.00CAD
23 Jul 2018
Change (% chg)

$-0.25 (-1.08%)
Prev Close
$23.25
Open
$23.36
Day's High
$23.38
Day's Low
$22.98
Volume
30,463
Avg. Vol
600,693
52-wk High
$26.78
52-wk Low
$12.19

Latest Key Developments (Source: Significant Developments)

Parex To Explore Potential Strategic Repositioning
Tuesday, 17 Jul 2018 

Parex Resources Inc ::PAREX TO EXPLORE POTENTIAL STRATEGIC REPOSITIONING.STRATEGIC REPOSITIONING REVIEW WILL FOCUS ON POTENTIAL SALE OF COMPANY'S LONG LIFE SOUTHERN CASANARE ASSETS.STRATEGIC REPOSITIONING REVIEW WILL ALSO FOCUS ON RETENTION OF HIGH IMPACT EXPLORATION ASSETS.REGARDING STRATEGIC REPOSITIONING REVIEW, CONSIDERATION WILL ALSO BE GIVEN TO A CORPORATE SALE.PAREX-DUE TO STRATEGIC REPOSITIONING ALTERNATIVES, HAS ELECTED TO TERMINATE ITS AUTOMATIC SHARE PURCHASE PLAN TO PURCHASE UP TO 3 MILLION OF ITS SHARES.REVIEW PROCESS HAS NOT BEEN INITIATED AS A RESULT OF RECEIVING ANY TRANSACTION PROPOSAL.PLANNED CAPEX FOR REST OF 2018 EXPECTED TO BE FUNDED BY FUNDS FLOW FROM OPERATIONS.PAREX RESOURCES - A BOARD SPECIAL COMMITTEE WILL WORK WITH MANAGEMENT, CO'S EXTERNAL ADVISORS TO SUPERVISE STRATEGIC REPOSITIONING ALTERNATIVES REVIEW.PAREX RESOURCES - ENGAGED SCOTIA CAPITAL AS FINANCIAL ADVISOR IN CONNECTION WITH REVIEW AND ANALYSIS OF STRATEGIC REPOSITIONING ALTERNATIVES.  Full Article

Parex Estimates Q2 Production To Average 42,500 Barrels Of Oil Equivalent Per Day
Monday, 25 Jun 2018 

June 25 (Reuters) - Parex Resources Inc ::PAREX DELIVERS THE 24TH CONSECUTIVE QUARTER OF GROWTH.ESTIMATE THAT Q2 2018 PRODUCTION TO AVERAGE 42,500 BARRELS OF OIL EQUIVALENT PER DAY.EXPECT AVERAGE Q3 2018 PRODUCTION TO EXCEED 44,000 BOE/D..PAREX -EXPECTS TO COMPLETE VOLUNTARY COLOMBIA TAX RESTRUCTURING PRIOR TO JUNE 30, 2018 THAT WOULD INCREASE Q2 CURRENT TAX EXPENSE TO ABOUT $175 MILLION.STRATEGIC RATIONALE FOR COLOMBIA TAX RESTRUCTURING IS TO MAKE COMPANY'S TAX STRUCTURE MORE EFFICIENT.EXPECTS TO FUND TAX RESTRUCTURING WITH EXISTING WORKING CAPITAL SURPLUS, WHICH WAS $205 MILLION AS OF MARCH 31, 2018.  Full Article

Parex Delivers 25% Self-Funded Production Growth In 2017
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Parex Resources Inc ::PAREX RESOURCES INC - ESTIMATES THAT Q4 2017 PRODUCTION AVERAGED 39,000 BARRELS OF OIL EQUIVALENT PER DAY.PAREX RESOURCES INC - ‍EXPECT AVERAGE Q1 2018 PRODUCTION TO EXCEED 40,000 BOE/D​.PAREX DELIVERS 25% SELF-FUNDED PRODUCTION GROWTH IN 2017.PAREX RESOURCES - ‍ ESTIMATE CO'S 2017 DEBT ADJUSTED PRODUCTION PER SHARE ANNUAL GROWTH EXCEEDED 25 PERCENT COMPARED TO 2016​.  Full Article

Parex' 2018 guidance cash flow funded growth to 41,000-43,000 BOE/D
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Parex Resources Inc ::Parex' 2018 guidance: cash flow funded growth to 41,000-43,000 BOE/D.Parex Resources Inc - ‍anticipates production growth of 10pct-20pct in 2019​.Parex Resources Inc sees ‍2018 capital expenditures of $260 million -$290 million​.Parex Resources - ‍expect 2018 capital budget will be fully funded from funds flow from operations​.  Full Article

Parex reports Q3 earnings per share $0.36
Tuesday, 7 Nov 2017 

Nov 7 (Reuters) - Parex Resources Inc ::Parex announces 2017 third quarter results.Q3 earnings per share $0.36.Parex Resources Inc - ‍quarterly production was 36,195 boe/d an increase of 22 percent over prior year comparative period​.Parex Resources Inc - ‍sees 2018 production of 41,000-43,000 boe/d​.Parex Resources Inc sees ‍2018 capital expenditures of $260 million - $290 million​.  Full Article

Parex Resources sees Q1 2018 production to average above 40,000 boe/d​
Wednesday, 11 Oct 2017 

Oct 11 (Reuters) - Parex Resources Inc :Q4 guidance increase with LLA-34 drilling success.Parex Resources Inc - ‍increasing Q4 2017 guidance to an average rate of 38,500 boe/d​.Parex Resources Inc - ‍estimate working capital as at september 30, 2017 to be approximately $135 million, an increase of $42 million over December 31, 2016​.Parex Resources Inc - ‍Q3 2017 production was approximately 36,150 barrels of oil equivalent per day​.Parex Resources Inc - expect Q1 2018 production to average above 40,000 boe/d​.  Full Article

CANADA STOCKS - TSX rises 0.40 percent, best day in a week

NEW YORK, July 19 * The Toronto Stock Exchange's S&P/TSX rose 65.61 points, or 0.40 percent, to 16,543.01, its biggest daily percentage gain since July 12. * Leading the index were TransCanada Corp, up 5.4 percent, Guyana Goldfields Inc, up 4.8 percent, and BlackBerry Ltd , higher by 4.3 percent. * Lagging shares were First Quantum Minerals Ltd, down 7.5 percent, Parex Resources Inc, down 5.5 percent, and Aphria Inc, lower by 4.6 percent. * On the TSX 129 issues advanced and 112 decl