Parex Resources Q3 Production Hits 83,259 boe/d, Reiterates Guidance

Parex Resources Inc. (TSX: PXT) reported third-quarter 2026 average production of 83,259 barrels of oil equivalent per day and said it will release its Q3 2026 financial and operating results before markets open on Friday, November 6, 2026. The Calgary-based company, which describes itself as the largest independent oil and gas producer in Colombia, said September output reached 84,500 boe/d, up from 82,250 boe/d in August and 83,050 boe/d in July. Parex reiterated its second-half 2026 average production guidance of 82,000 to 91,000 boe/d.

Context — why Parex's Q3 production update matters now

The company's quarterly figure lands inside the H2 2026 range it reaffirmed on July 30, 2026, a range the report says is also being reiterated in this update. That repetition matters because Parex's full-year 2026 average production guidance sits far lower, at 63,000 to 67,000 boe/d, and is likewise being reiterated. The gap between the annual band and the second-half band implies a first half weighted well below the current run-rate, which the report does not break out.

What changed inside the quarter is the mix. Parex attributed September's lift primarily to increased production from near-field exploration success at LLA-111 in the Eastern Llanos. That block's contribution is embedded in the Llanos figure of 58,290 boe/d for the three months ended September 30, 2026, the largest single regional slice of the quarter's 83,259 boe/d average.

The forward catalyst is the Ecopetrol partnership in the Magdalena, where the company expects the November addition of roughly 7,000 barrels per day net. That is a company expectation, not a delivered number, and it is the single largest identified step-up in the report. Magdalena contributed 5,309 boe/d in Q3, so the stated addition would more than double that basin's contribution if realized.

Macro backdrop for Colombian producers is not supplied in the report, and no crude benchmark level is given, so the update stands on operational rather than price news. The report also carries a standard advisory that barrels of oil equivalent may be misleading when used in isolation.

Data — what the numbers show

The quarter averaged 83,259 boe/d. By month, July was 83,050 boe/d, August 82,250 boe/d, and September 84,500 boe/d, a September-to-August gain of 2,250 boe/d, or about 2.7%. September was the strongest month of the quarter and August the weakest.

Product mix for September: light and medium crude oil at 23,744 bbl/d, heavy crude oil at 57,718 bbl/d, conventional natural gas at 16,148 mcf/d, and natural gas liquids at 346 boe/d. The quarterly averages were 22,217 bbl/d light and medium, 58,038 bbl/d heavy, 16,122 mcf/d gas, and 317 boe/d NGLs.

Metric	July 2026	August 2026	September 2026
Average production (boe/d)	83,050	82,250	84,500
Light & medium crude (bbl/d)	21,622	21,318	23,744
Heavy crude (bbl/d)	58,380	58,004	57,718

Regional split for the quarter: Llanos 58,290 boe/d, LLA-34 18,813 boe/d, Magdalena 5,309 boe/d, Putumayo 847 boe/d. The light and medium crude line rose 2,426 bbl/d from August to September while heavy crude slipped 286 bbl/d over the same stretch, a shift toward lighter barrels. The report gives no realized price, revenue, or cash-flow figure, and no peer comparison.

Analysis — what it means for energy markets and PXT holders

The composition shift carries more weight than the headline. Light and medium crude moved from 21,318 bbl/d in August to 23,744 bbl/d in September, while heavy crude fell to 57,718 bbl/d from 58,004 bbl/d. Light barrels typically clear at narrower discounts to benchmark crudes than heavy grades, so a mix tilt toward light crude improves realizations per barrel even when total boe/d barely moves. Parex does not publish differentials, so the size of that benefit cannot be quantified from the report.

The Ecopetrol tie-up is the number that re-rates the second half. A net 7,000 bbl/d from Magdalena against a Q3 basin contribution of 5,309 boe/d is a step change concentrated in a single month. If it lands in November, only part of it feeds Q4 averages, and the H2 band's upper end of 91,000 boe/d would require both the Magdalena volumes and continued LLA-111 success to arrive on schedule.

The main risk is execution and regulatory timing in Colombia. The report's own forward-looking language flags results and timelines of exploration and development drilling, required approvals from Colombian regulators, and political developments in the country as factors that could cause actual outcomes to differ. It also states plainly that H2 2026 average production may come in lower than anticipated.

Positioning around PXT is likely to hinge on the November print rather than this operational teaser, since the update contains no financials. Investors holding the equity for the H2 ramp now carry a binary on two operational events landing on time.

Outlook — what to watch next

The next scheduled disclosure is Q3 2026 financial and operating results before markets open on Friday, November 6, 2026, followed by a conference call and webcast at 9:30 am MT, 11:30 am ET. That call is where the company would typically reconcile preliminary production against final numbers, which the report notes are subject to final reconciliation.

The two operational catalysts are the November addition of approximately 7,000 bbl/d net from the Ecopetrol partnership in the Magdalena and continued results from the LLA-111 near-field exploration campaign in the Eastern Llanos. Neither has a confirmed completion date beyond the November reference.

There is no price level, moving average, or benchmark crude threshold in the report to trade against, so the watch items are volume-based: whether monthly production holds above the 84,500 boe/d September print, and whether the H2 band's 82,000 boe/d floor is defended through year-end.

Frequently Asked Questions

What does Parex Resources' Q3 2026 production update mean for retail investors?

It gives a volume read without financials. Average production was 83,259 boe/d for the quarter, with September at 84,500 boe/d. The company reiterated both its H2 2026 guidance of 82,000 to 91,000 boe/d and its full-year 2026 guidance of 63,000 to 67,000 boe/d. Revenue, cash flow, and per-barrel realizations will not appear until the November 6 results.

What happens next for Parex Resources?

The company releases Q3 2026 financial and operating results before markets open on Friday, November 6, 2026, with a conference call and webcast at 9:30 am MT. Before that, the key operational item is the expected November addition of roughly 7,000 bbl/d net from the Ecopetrol partnership in the Magdalena, alongside output from LLA-111.

Why did Parex's September production rise?

Parex said September output of 84,500 boe/d was supported primarily by increased production from near-field exploration success at LLA-111 in the Eastern Llanos. September was 2,250 boe/d above August's 82,250 boe/d. The gain came even as heavy crude slipped month over month, with light and medium crude rising to 23,744 bbl/d from 21,318 bbl/d.

Bottom Line

Parex held its H2 volume range on a stronger September and now needs the November Magdalena barrels to arrive on schedule.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. CFD trading carries high risk of capital loss.