PAREX is an energy company that conducts oil and gas exploration, development, and production activities in Colombia. PAREX’ corporate headquarters are located in Calgary, Canada, and it has an administrative office in Bogotá. Its operations in 2016 were mostly located in the Casanare and Arauca regions, as well as in the Middle and Lower Magdalena Valleys. PAREX has holdings in 22 exploration and production blocks in Colombia. The properties are located within the Llanos and Magdalena basins, totalling 1.7 million gross acres.
PAREX’ common shares are publicly traded on the Toronto Stock Exchange (TSX) under the symbol “PXT”.
In 7 years, PAREX grew from a start-up company to one of the largest independent oil companies in Colombia, with a net production of 29,715 barrels of oil equivalent per day (boe/d) in 2016.
In 2016, PAREX strengthened its drilling, exploration, and development opportunities for further growth, confirming its commitment to Colombia. The Company brings the benefits and opportunities that it has created in the departments of Casanare and Meta to other Colombian regions. During this new phase of growth, the Company has remained committed to establishing longterm relations with its stakeholders, operating in an environmentally sustainable manner, and creating and sharing benefits with the communities surrounding the Company’s operations.