Parex Resources Inc. (锟絇arex锟� or the 锟紺ompany锟�) announces a production update and the abandonment of the Guapo-1 exploration well at VIM-1 (50% W.I.). All amounts herein are in United States Dollars (锟経SD锟�) unless otherwise stated.
Q4 2025 Production Update(1)
Q4 2025 average production was 48,606 boe/d, an increase of 11% from Q3 2025.
Strong production was supported by new wells at LLA-32 and LLA-74, with November reflecting elevated initial production rates and December more representative of stabilized production performance.
Supporting the initial stages of the 2026 drilling program, operations are ongoing in the Putumayo Basin with two active rigs, alongside activities in LLA-32 and Capachos.
Guapo-1 Exploration Well at VIM-1
Parex spud the Guapo-1 exploration well in October 2025 and successfully reached its target depth of approximately 15,000 feet. Following logging operations, it was determined that hydrocarbon production was not commercial, and the well was abandoned. The well was drilled at a cost of roughly $12 million (net).