Parex Resources nears completion of $750M acquisition of Frontera's Colombian upstream assets.

Parex Resources announced that Frontera Energy's shareholders approved the acquisition of Frontera's Colombian upstream oil and gas assets by Parex for $500 million in cash, $225 million in net debt assumption, and a $25 million contingent payment. The deal, approved by 99.95% of Frontera shareholders and sanctioned by the Supreme Court of British Columbia, is expected to close in the second quarter of 2026. This acquisition will expand Parex's presence in Colombia's oil and gas sector, including exploration, production, and related facilities. The transaction is subject to final conditions but marks a significant growth step for Parex in the region.