Parex Resources buys Frontera's upstream assets for $750M, boosting growth amid rising commodity prices.

Parex Resources is acquiring Frontera's upstream oil and gas assets for approximately $750 million. This acquisition is expected to be value-accretive due to rising commodity prices and strong cash flow, which should keep the company's leverage within safe limits. The deal has been approved by Frontera shareholders and is seen as a strategic move by Parex to optimize operations and capitalize on favorable market conditions. Even if commodity prices decline, the acquisition and operational improvements offer potential upside for Parex.