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GlobeNewsWire
2 months ago
Parex Resources Enters into a Definitive Agreement to Acquire Frontera Energy's Colombian E&P Assets
CALGARY, Alberta, March 10, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce that it has entered into a definitive agreement (the "Arrangement Agreement") with Frontera Energy Corporation (“Frontera”) (TSX: FEC), whereby Parex will acquire 100% of Frontera Petroleum International Holdings B.V. (“Frontera E&P”), which holds all of Frontera's exploration and production assets in Colombia, for upfront cash consideration of US$500 million, the assumption of US$225 million of net debt(11), and a contingent payment of US$25 million (the “Transaction”).