$PXT.TO

Frontera Infrastructure Will Have US$64 Million Cash For Growth

Frontera Energy Says Initial Distribution Delivers C$8.34 per Share in Cash to Shareholders

Frontera Energy Completes Divestment of Its Colombian E&P Assets Portfolio To Parex; Announcing Return of Capital Distribution To Shareholders

Parex Resources Down 4% As Reports Big Drop In Q1 Net Income; But Unhedged For 2026, Completing Frontera E&P Buy

Parex Resources (PXT.TO) was at last look down 4% on the TSX after reporting Tuesday a big drop in net income in the first quarter, but the company said it is currently unhedged for 2026, "with full exposure to higher commodity prices in the process", and added it is "positioned to become Colombia's largest independent oil & gas producer" while it nears completing the acquisition of Frontera E&P.For the three months ended March 31, 2026, the company reported net income of US$4.6 million or $0.05 per basic share compared with net income of $80.6 million or $0.82 per share basic, a year earlier.Parex said the decrease is primarily attributed to unrealized losses on commodity risk management contracts, an increase in deferred tax expense, higher cash settled share-based compensation expense, and the recognition of one-time costs, partially offset by lower current income tax.Among other highlights, average production in the quarter was 44,735 barrels of oil equivalent per day (boe/d), compared with 43,658 boe/d in Q1 2025. The company flagged 2026 production guidance 82,000 to 91,000 boe/d, up 93% at the midpoint compared to Q1 2026 average production.Previously, the company had hedged brent crude oil prices for Q2 2026 on approximately 25% of its planned net production. In early Q2 2026, these hedging positions were unwound at a cost of $29 million. The company is currently unhedged for 2026, with full exposure to higher commodity prices.Parex said it is completing the final stages of the Frontera E&P transaction, which will add roughly 37,000 boe/d of "highly" accretive barrels with "compelling synergies". It is adding new producing assets in the Magdalena Basin, where Parex will gain 50% production participation on roughly 15,000 boe/d in second half 2026 following the commencement of initial activity in both the Casabe and Llanito blocks.Current guidance was given for second half 2026, after accounting for the Frontera transaction, and the addition of the new producing assets in the Magdalena Basin.The company added it completed the LLA-111 exploration program, with four of six wells delivering positive results and early-stage production now underway, and is continuing to progress Llanos Foothills exploration, where it is preparing to spud its Piedemonte exploration well in Fall 2026.It declared a Q2 2026 regular dividend of C$0.385 per share, or C$1.54 per share annualized."Over the first half of 2026, Parex executed a series of strategic transactions that have positioned us to be Colombia's largest independent E&P, while adding complementary assets that enhance scale, deepen the portfolio, and strengthen our platform profitability for long-term growth," said Imad Mohsen, President & Chief Executive Officer."This transformed version of Parex is positioned to deliver an unparalleled portfolio of development and exploration opportunities, generate substantial free cash flow, unlock new world-class reserves, and establish the company as one of the leading growth opportunities in the global oil and gas sector, creating meaningful value for all stakeholders."Shares of the company were at last look down 4%, after closing up 1.2% on Monday.Price: $27.03, Change: $-1.21, Percent Change: -4.28%

Parex Resources to Issue Private Offering of US$500 Million Senior Notes

Parex Resources (PXT.TO) will issue US$500 million aggregate principal amount of senior unsecured notes due 2031 in a private placement offering, it said Thursday.The notes were priced at par and will bear interest at a rate of 8.50% per annum and mature on May 11, 2031. Closing of the offering is expected to on May 11, it added.Proceeds, after payment of the initial purchasers' fees and estimated offering expenses, will be deposited into an escrow account pending satisfaction of certain escrow release conditions, including the consummation of the previously announced acquisition of Frontera Energy Corporation's exploration and production assets in Colombia, it said. Net proceeds, upon satisfaction of the escrow release conditions, will be released.Parex will use the proceeds to fund the cash portion of the consideration for the Frontera deal, and to pay fees and expenses in connection with the Frontera deal and the offering. Proceeds not used for such purposes will be used for general corporate needs.Shares in Parex were down more than 4% yesterday.

Parex Resources Announced Private Offering of US$500M Senior Notes

TSX Closer: Index Down In All But 1 of the Last 8 Sessions; Morningstar Cites 10 Top-Performing Dividend Stocks

The Toronto Stock Exchange has closed lower in all but one of the last eight sessions, with the latest losses on this Tuesday coming as U.S. Defense Secretary Pete Hegseth said the US-Iran ceasefire "is not over" despite attacks in the Strait of Hormuz yesterday.The S&P/TSX Composite Index closed down 71.96 points, or 0.2%, at 33.566.91, even as most sectors were higher, led by Health Care, up 2.5%, followed By Base Metals, up 2%, and Energy, up 1.4%. Information Technology was down near 4.2% and the Battery Metals Index was down 2.6%.Among individual stocks, BNN Bloomberg TV cited Ero Copper, up more than 5% today and up just short of 100% over one year. The company reported first-quarter results earlier Tuesday. BNN also cited Parex Resources (PXT.TO), up near 5% as Frontera (FEC.TO) obtained a final order approving their plan of arrangement.On the negative side, BNN cited Shopify (SHOP.TO), down more than 15% after its Q1 results, and Keyera (KEY.TO), which lost more than 7% as the Competition Bureau moved to block its $5.15-billion acquisition of Plains All American Pipelines Canadian natural-gas liquids business.Still on individual stocks, Morningstar Canada said the top performing dividend payers in April included engineering and construction company Aecon (ARE.TO), Canadian Imperial Bank of Commerce (CM.TO), and asset management firm IGM Financial (IGM.TO). Morningstar noted dividend-paying stocks that "combine healthy balance sheets with hefty yields" can provide investors with "steady incomes, cushion against market downturns, and grow investments at a healthy clip".A screening of the Morningstar Canada Index, which measures the performance of Canada's broad regional markets, targeting the top 97% of stocks by market capitalization, for companies with a forward dividend yield of at least 1.5%, excluding real estate investment trusts, showed the best performing Canadian dividend stocks last month. This included the aforementioned Aecon, CIBC and IGM. The list also included National Bank of Canada (NA.TO), TD Bank Group (TD.TO), Industrial Alliance Insurance and Financial Services (IAG.TO), Power Corporation of Canada (POW.TO), TMX Group (X.TO), Sun Life Financial (SLF.TO) and Superior Plus (SPB.TO).Of commodities, gold traded higher by midafternoon, rising off a five-week low as treasury yields weakened. Gold for June delivery was up US$35.60 to US$4,568.90 per ounce.But West Texas Intermediate crude oil fell 3.9% with the ceasefire between the United States and Iran seen holding, calming Monday's gains as violence in the Persian Gulf eased. WTI crude oil for June delivery closed down US$4.15 to settle at US$102.27 per barrel, after rising 4.4% on Monday, while July Brent oil was down US$4.24 to US$110.20.

Parex Announcing Expansion Of Ecopetrol Strategic Partnership With Addition Of Producing Assets In the Magdalena Basin

Parex Says Transaction Remains Subject to Satisfaction Or Waiver of Conditions to Implement the Arrangement; Expected to Close in Q2 2026

Parex Notes Today Frontera Obtained a Final Order from Supreme Court of B.C. Approving the Deal By Way of a Plan of Arrangement

Parex Resources Providing Update On Acquisition Of Frontera E&P

Frontera's Shareholders Voted to Approve Arrangement with Parex and Return of Capital; Arrangement Anticipated to be Completed in Q2 2026

Parex Resources' Q1 Earnings Drop YoY

Parex Resources' (PXT.TO) first-quarter earnings dropped year over year in the first quarter, according to preliminary results released Thursday.Parex cited an unrealized loss on commodity risk management contracts, an increase in deferred tax expense, a higher cash settled share-based compensation expense, and recognition of one one-time costs.The company booked a net income of US$5 million, or $0.05 per share, in the first quarter, slumping from $81 million, or $0.82 per share, in the year-ago period.Average production rose year over year to 44,735 barrels of oil equivalent per day (boe/d) from 43,658 boe/d.Adjusted EBITDA totaled $133 million in the first quarter, compared to $135 million in the previous year.Parex expects to release its financial and operating results for the first quarter before markets open on May 12.

Update: -- Parex Resources Announcing Preliminary Q1 Results; Expects To generate FFO of US$114 million and FFO per share of $1.18

Parex Resources Announcing Preliminary Q1 Results; Expects To generate FFO of $114 million and FFO per share of $1.18