Brief: Parex Resources Announces Record Full-Year & Fourth Quarter Production

Parex Resources

16/01/2024 24:20

Jan 15 (Reuters) - Parex Resources Inc  PXT.TO :
    * PAREX RESOURCES ANNOUNCES RECORD FULL-YEAR & FOURTH
QUARTER
PRODUCTION, ARAUCA DISCOVERY, AND PUBLISHES 2024 GUIDANCE
    * TARGETING FY 2024 AVERAGE PRODUCTION OF 57,000 BOE/D,
WHICH IS
FORECAST TO BE 5% YEAR-OVER-YEAR GROWTH
    * EXPECTING TO GENERATE APPROXIMATELY $625 MILLION OF FUNDS
FLOW
PROVIDED BY OPERATIONS ("FFO") IN 2024
    * BUDGETING FY 2024 CAPITAL EXPENDITURES OF $410 MILLION,
WHICH IS
EXPECTED TO BE APPROXIMATELY 15% LOWER THAN 2023
    * Q4 AVERAGE PRODUCTION OF 57,329 BOE/D
    * PAREX RESOURCES - COMPANY WILL SUBMIT A NOTICE OF
INTENTION TO
MAKE A NORMAL COURSE ISSUER BID TO TORONTO STOCK EXCHANGE FOR
CALENDAR 2024

Source text for Eikon:  ID:nGNX6KnSDg 
Further company coverage:  PXT.TO 

 ((Reuters.Briefs@thomsonreuters.com;))