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On May 7, 2019, Parex Resources Inc. (OTCPK:PARXF)(PXT.TSX) reported its financial and operating results for the 1Q2019. Let's review those results so that we can look better into its near future.
Properties
Parex held a total of 1,524,991 net acres of land holdings in Colombia as of 1Q2019 (Table 1).
Of these, the Southern Casanare (aka, SoCa) assets, including LLA-34 (the flagship producer), Cabrestero, and LLA-32, accounts for the vast majority (90%) of its production.
The Capachos property is emerging in importance, while minor production is being contributed by LLA-26, Aquas Blancas, and