Debt | Production Rates | Capital Markets | Capital Expenditure | Deals - Farm-In
Parex to Farm-in with Ecopetrol, Possible Capex Increase
Print
|
Parex Resources Inc. has announced the execution of two formal binding agreements with Ecopetrol S.A. whereby Parex will farm-in to operate and earn a 50% working interest in the De Mares and Playon blocks located in the Middle Magdalena Basin of Colombia.
The transfer of 50% of the working interest and the operatorship from Ecopetrol to Parex is subject to the National Hydrocarbons Agency of Colombia (Agencia Nacional de Hidrocarburos) approval, and in accordance with the De Mares and Playon agreements.
All amounts herein are in United States dollars (USD) unless otherwise stated.
Operational Update Parex expects Q1 2016 production to average approximately 28,900 barrels of oil equivalent per day (boed) (99% crude oil) and produced sales are estimated at 30,200 boed due to a draw down…- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
More Deals - Farm-In News
Statoil Partners with Valeura for Turkey Thrace Basin Exploration
Statoil has entered a binding letter agreement into two exploration licenses in the Thrace region in the European north-western part of Turkey.
Statoil Acquires 30% WI in OMV's East Coast Basin
Statoil has agreed with OMV to acquire a 30% working interest in Petroleum Exploration Permit (PEP) 57073. This will further strengthen Statoil’s position in New Zealand.
South America News
Frontera Energy's Colombian Assets: A Contested Acquisition Emerges in Latin America's E&P Sector
Background Frontera Energy Corporation (TSX: FEC), a publicly listed Canadian holding company with upstream oil and gas operations in Colombia, has become the center of a contested acquisition…
Venezuela: Rebuild Potential vs. Stop/Start Reality — What It Means for International OFS
Venezuela: Rebuild Potential vs. Stop/Start Reality — What It Means for International OFS According to Reuters, Venezuela’s oil sector remains a high-potential but fragile opportunity: it holds massive…
Gran Tierra Energy To Step Down Activity in 2026
Gran Tierra Energy’s 2026 development plan reflects a step-down in spending and activity as the company transitions from fulfilling Ecuador exploration commitments in 2025 toward a free-cash-flow-focused program.…
Parex Advances Llanos Foothills Exploration Alliance with Ecopetrol
Parex and strategic partner Ecopetrol provided an update on their Llanos Foothills exploration program, noting that a full strategic alliance has effectively been achieved and that key Foothills…
Continental Resources to Acquire 90% Stake in Vaca Muerta Shale Concession
Continental Resources Inc. has agreed to acquire a 90% operating stake in the Los Toldos II Oeste block, a shale concession within Argentina’s Vaca Muerta formation, marking a…