Parex Sees Colombia Output Tripling After Frontera Acquisition

Parex Resources Inc.’s oil production in Colombia is poised to triple in three years after it acquires assets from Frontera Energy Corp. and future ventures with the state-owned firm, the company’s chief executive officer says.

The Colombian oil producer based in Calgary, Alberta, beat out a rival bid from GeoPark Ltd. for Frontera’s production and exploration assets in mid-March, just as oil prices surged due to the Iran war.