Frontera Energy Closes Sale of Colombian E&P Assets to Parex Resources
The deal adds 37,000 barrels of oil equivalent per day and leaves Frontera with $64 million for infrastructure growth, Parex said.
- On Monday, Frontera Energy Corp completed the $750 million sale of its Colombian exploration and production assets to Parex Resources Inc., marking the successful close of the previously announced transaction.
- In connection with the transaction, Frontera announced a return of capital distribution of C$8.34 per share to shareholders, totaling approximately $430 million in aggregate value.
- Frontera will retain approximately $64 million on its balance sheet, allocating $25 million to reduce debt and $39 million for growth projects at Puerto Bahia, preserving financial flexibility.
- Chief Executive Officer Orlando Cabrales Segovia said the transaction marks an important milestone, positioning Frontera as a focused infrastructure company with a "clear path for growth."
- The Toronto Stock Exchange has implemented "due bill" trading for the distribution, with record date June 12, 2026, payment June 23, 2026, and ex-distribution trading beginning June 24, 2026.
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Parex Becomes Colombia's Top Private Oil Firm With $750m Frontera Deal
COLOMBIA · BUSINESS Key Facts —Deal closed: Parex completed its purchase of Frontera Energy’s Colombian exploration-and-production assets for a firm value of about $750m. —New ranking: The deal makes Parex the largest private oil producer in Colombia, after state-controlled Ecopetrol. —What it gets: About 37,000 barrels a day of output, plus more than 7.9 million […] The post Parex Becomes Colombia’s Top Private Oil Firm With $750m Frontera Deal…
The Toronto Star
Frontera Energy closes sale of Colombian E&P assets to Parex Resources
CALGARY - Frontera Energy Corp. says it has completed the sale of its Colombian exploration and production assets to Parex Resources Inc. in a deal valued at US$750 million including
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
/PRNewswire/ - Frontera Energy Corporation (TSX: FEC) ("Frontera" or the "Company") today announced the successful completion of the previously announced plan...
New Hamburg independent
The Manila TimesParex Resources Completes Acquisition of Frontera E&P, Becoming Colombia’s Largest Independent Oil & Gas Producer
CALGARY, Alberta, June 01, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce the successful closing of its previously announced acquisition of all the Colombian exploration and production assets of Frontera Energy…
Oil & Gas 360
World OilParex closes $500 million Frontera E&P acquisition in Colombia
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