Parex previously reported 1Q18 production of 40,586 boe/d and cash flow of US$101 mm was better than expected. The company’s capital expenditure budget between US$260 mm and US$290 mm, as well as production guidance between 41,000 boe/d and 43,000 boe/d, remain unchanged. However, Parex is now guiding toward the higher end of the range. Activity in the Field is expected to ramp-up in 2Q18e and 3Q18e. There should be more operational highlights in the upcoming months.
09 May 2018
Parex reports 1Q18 results and increasing cash flow outlook
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Parex reports 1Q18 results and increasing cash flow outlook
Parex Resources Inc. (PXT:TSE) | 0 0 1.1% | Mkt Cap: 2,763m
- Published:
09 May 2018 -
Author:
Darren B. Engels -
Pages:
7
Parex previously reported 1Q18 production of 40,586 boe/d and cash flow of US$101 mm was better than expected. The company’s capital expenditure budget between US$260 mm and US$290 mm, as well as production guidance between 41,000 boe/d and 43,000 boe/d, remain unchanged. However, Parex is now guiding toward the higher end of the range. Activity in the Field is expected to ramp-up in 2Q18e and 3Q18e. There should be more operational highlights in the upcoming months.