Parex boosts Colombian oil output after $750 million Frontera Energy acquisition

Parex reported that its average oil production rose to 54,090 barrels of oil equivalent per day in the second quarter of 2026, up from 42,542 boe/d in the same period of 2025. The increase follows the closing of its purchase of exploration and production assets from Canadian firm Frontera Energy, a deal valued at about US$750 million with an additional US$25 million contingent payment. The acquisition added more than 37,000 boe/d to Parex’s cash‑flow‑generating output and positioned the company as the largest privately‑held oil producer in Colombia. Parex highlighted the continued contribution of the LLA‑111 block, its partnership with Ecopetrol in the Magdalena basin, and stable production from its core assets. “Este es un hito significativo para Parex y marca la finalización exitosa de una transacción altamente estratégica,” the company’s president Imad Mohsen said.