Parex Resources: More Low-Risk Development Opportunities
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Parex Resources has expanded its joint venture with Ecopetrol, despite abandoning the Arantes exploration well due to technical issues. The company projects its 2025 production to average around 45,000 BOED.
February 10, 2025 | 2:00 am
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Parex Resources has expanded its joint venture with Ecopetrol, which could provide more low-risk development opportunities. However, the abandonment of the Arantes exploration well due to technical issues is a setback. The company projects 2025 production to average around 45,000 BOED.
The expansion of the joint venture with Ecopetrol suggests potential growth and stability, which is positive for Parex Resources. The abandonment of the Arantes well is a negative factor, but the overall production guidance for 2025 remains strong, indicating a positive outlook.
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