On April 15, 2015, Parex issued approximately 15 mm common shares, including the over-allotment of 2 mm shares, at an issue price of $9.15 per share. The Company raised equity of approximately C$136 mm or US$105 mm net. The Company was already generating free cash flow in 2015e and had a very strong balance sheet. Thus, we expect that Parex is about to accelerate its reserve and production growth mandate, which is a distinguishing feature that the Company can grow in a lower crude oil price envi ....
