Parex Resources Acquires Frontera Energy’s Colombian E&P Assets for $750 Million Firm Value

Parex Resources entered into a definitive arrangement agreement to acquire Frontera Energy’s upstream Colombian exploration and production business (Frontera E&P Assets) for $500 million cash at closing plus a $25 million contingent payment, valuing the deal at approximately $750 million including assumed debt. The transaction was structured as a plan of arrangement under British Columbia law and closed on June 1, 2026, with Frontera transitioning to a standalone infrastructure company and distributing capital back to shareholders.