Parex Resources Reports Q3 Revenue Growth and Increased Production
Parex Resources (PARXF) reported third-quarter financial results featuring a GAAP EPS of $0.78 and revenue of $66.58 million, representing a 21.5% increase year-over-year. The company saw a significant boost in operational efficiency, with average production rising to 83,264 boe/d compared to 54,121 boe/d in the previous quarter. Financial performance was further supported by a realized adjusted EBITDA of $238 million and an operating netback of $37.25 per barrel of oil equivalent (boe). The company also provided updates regarding its full-year outlook as it continues to scale production levels.
Topics: earnings report EBITDA production volume revenue growth