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Parex Resources (PXT) investor relations material

Parex Resources Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary30 Jul, 2025

Executive summary

  • Q2 2025 funds flow from operations reached $105 million, with FFO per share at $1.08, supported by operational efficiency and favorable crude differentials.

  • Net income for the quarter was $49 million or $0.50 per share basic.

  • Average production was 42,542 BOE/d, with July 2025 production averaging 44,450 BOE/d.

  • Three successful near-field exploration wells in H1 2025 added 2,500 bbl/d to current production.

  • The company remains focused on low-risk development, sustaining production, and delivering shareholder returns, with a back-end weighted activity plan for 2025.

Financial highlights

  • Operating netback was $36.25/BOE, and FFO netback was $26.90/BOE, with Brent averaging $66.71/bbl.

  • Capital expenditures totaled $89 million in Q2, mainly at LLA-32, LLA-34, and LLA-74.

  • Free funds flow for the quarter was $16 million; cash at quarter end was $99 million, with bank debt at $18 million.

  • Dividends paid in Q2 totaled $27.6 million; Q3 2025 regular dividend of C$0.385 per share declared.

  • Current taxes for the quarter were $9 million; full-year effective tax rate expected at 5–10%.

Outlook and guidance

  • FY 2025 average production guidance reaffirmed at 43,000–47,000 BOE/d, with a strong exit rate expected to set up 2026 favorably.

  • Capital expenditure guidance for 2025 is $285–$315 million.

  • H2 2025 will see continued production growth, fully funded capital program, robust dividend, and ongoing share buybacks.

  • Q3 capital spending to remain steady; lighter outlay forecast for Q4.

  • Brent crude oil hedge in place for Q3 2025, covering 50% of planned net production with a put spread at $60/$65 per bbl.

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Frequently asked questions

Parex Resources Inc. is an oil and gas exploration and production company focused on operations in Latin America. The company is primarily engaged in the acquisition, exploration, development, and production of hydrocarbon resources in Colombia. Parex Resources operates a portfolio of assets across various basins, employing advanced exploration and production techniques to optimize resource recovery. The company serves both domestic and international markets with its oil and natural gas products. The company is headquartered in Calgary, Canada, and its shares are listed on the TSX.

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