Canada's Parex swings to Q4 net income

Parex Resources

04/03/2026 12:13

Overview

Canada oil and gas firm's Q4 realized net income was $75 mln

Company achieved 106% PDP and 152% 2P reserve replacement ratios

Declared Q1 2026 dividend of C$0.385 per share

Outlook

Parex expects FY 2026 average production between 45,000 and 49,000 boe/d

Company plans elevated capital expenditures in H1 2026

Result Drivers

RESERVE REPLACEMENT - Achieved 106% PDP and 152% 2P reserve replacement ratios, indicating successful replenishment of reserves

PRODUCTION INCREASE - Q4 average production rose to 48,606 boe/d, driven by activities at LLA-32, VIM-1, Capachos, LLA-34, and Occidente

TECHNICAL ADVANCEMENTS - Completed one of Colombia's first multilateral wells at LLA-32, enhancing reservoir contact and capital efficiency

Company press release: ID:nGNX5f06Gc

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Net Income
$75 mln
Q4 FFO
$123 mln
Q4 FFO Per Share
$1.28


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

Wall Street's median 12-month price target for Parex Resources Inc is C$20.00, about 9.4% below its March 3 closing price of C$22.08

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 10 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)