Parex Resources acquires Frontera E&P, becoming Colombia's largest independent oil producer

Summary

Parex Resources has completed the acquisition of Frontera E&P for $500 million, becoming Colombia's largest independent oil and gas producer. The acquisition adds 37,000 boe/d of production capacity and expands Parex's land holdings to over 7.9 million acres. The transaction is expected to enhance operational efficiency and generate significant free funds flow.

Recent Coverage

• Parex Resources expands in Colombia with now-closed Frontera Energy deal

  Oil & Gas Journal - General Interest • Jun 2

• Parex closes $500 million Frontera E&P acquisition in Colombia

  Oil and Gas 360 • Jun 1

• FRONTERA COMPLETES DIVESTMENT OF ITS COLOMBIAN E&P ASSETS PORTFOLIO TO PAREX RESOURCES; POSITIONS ITSELF AS A STANDALONE INFRASTRUCTURE COMPANY ANNOUNCES RETURN OF CAPITAL DISTRIBUTION TO SHAREHOLDERS

  PR Newswire • Jun 1

• FRONTERA BECOMES PURE-PLAY INFRASTRUCTURE COMPANY

  PR Newswire • Jun 1

• Parex Resources Completes Acquisition of Frontera E&P, Becoming Colombia’s Largest Independent Oil & Gas Producer

  BOE Report • Jun 1