Brief: Parex Resources Reports Qtrly Earnings Per Share $0.80

Parex Resources

02/03/2022 01:08

March 1 (Reuters) - Parex Resources Inc  PXT.TO :
    * PAREX RESOURCES ANNOUNCES RECORD 2021 FULL-YEAR RESULTS
    * FY 2021 ANNUAL OIL AND NATURAL GAS PRODUCTION AVERAGED
46,998
BARRELS OF OIL EQUIVALENT PER DAY
    * QUARTERLY FFO $1.39 PER BASIC SHARE
    * QUARTERLY OIL AND NATURAL GAS PRODUCTION AVERAGED 49,779
BOE/D
    * EXPECTS 2022 PRODUCTION 52,000-54,000 BOE/D
    * SEES 2022 TOTAL CAPITAL EXPENDITURES $400 MILLION -$450
MILLION
    * PAREX -  ANTICIPATES IT WILL REPURCHASE 10% OF CO'S FLOAT
(11.8
MILLION SHARES) THROUGH ITS NCIB, WHILE ALSO HAVING UPSIDE BASE
DIVIDEND GROWTH POTENTIAL
    * YEAR-TO-DATE FEBRUARY 2022 AVERAGE PRODUCTION IS ESTIMATED
TO BE
APPROXIMATELY 51,600 BOE/D
    * AT MID-POINT OF GUIDANCE FOR 2022, PAREX FORECASTS TO GROW
PRODUCTION BY 13% YEAR-OVER-YEAR
    * QTRLY EARNINGS PER SHARE $0.80

Source text for Eikon:  ID:nGNX9xqcKt 
Further company coverage:  PXT.TO 

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