Parex Resources Inc. and its strategic partner Ecopetrol S.A. announced an update on their Llanos Foothills exploration program, where a full strategic alliance has effectively been achieved. In line with ongoing plans to explore the Llanos Foothills trend for new sources of Colombian resources, Parex and Ecopetrol have further reinforced their joint position in a basin recognized for its world-class exploration potential, collaborating to strengthen Colombia?s future energy position and sustainability. Niscota Block: Ecopetrol has confirmed that they have received approval from the regulator for the extension of the Piedemonte Convenio into a portion of the Niscota block, with all necessary regulatory approvals to drill the Floreña Huron exploration well; Per previously announced agreements, Parex has acquired a 50% participation share on the future production of the extended area of the Piedemonte Convenio, in exchange for agreeing to drill on a 100% capital basis the Floreña Huron exploration well, which will be drilled to the north of the producing Floreña field; In its 2026 program, Parex plans to commence initial and civil works to spud the Floreña Huron exploration well.
Farallones Block: The Farallones exploration prospect is progressing, with all regulatory approvals received and initial works underway; As previously announced, Parex agreed with Ecopetrol to drill the Farallones exploration well on a 100% capital basis; In its 2026 program, Parex plans to commence civil works to spud the Farallones exploration well. Average production was 49,300 boe/d in October 2025 and was sustained in November 2025 at 50,300 boe/d. Production was driven primarily by strong new wells at LLA-32 and LLA-74, which came online with high initial rates and are now stabilizing. With minimal expected production adds over the remainder of the year, and YTD 2025 average production of 44,550 boe/d, Parex expects to achieve approximately the midpoint of its Fiscal Year 2025 annual average production guidance of 45,000 boe/d (range: 43,000 to 47,000 boe/d).
Parex plans to release its 2026 guidance after markets close on January 19, 2026.
